The premium tax credit is a refundable credit that helps eligible individuals and families with low or moderate income afford health insurance purchased through a Health Insurance Marketplace. To get this credit, you must meet…
Don’t take the Bait; Avoid Phishing and Malware to Protect Your Personal Data
“Update your account now.” “You just won a cruise!” “The IRS has a refund waiting for you.” In the cyber world of phishing, the sentences are “bait” – lures from emails, telephone calls and texts…
IRS Tax Tips for Deducting Gifts to Charity
The holiday season often prompts people to give money or property to charity. If you plan to give and want to claim a tax deduction, there are a few tips you should know before you…
File on time, even if you can’t pay
Do you owe more tax than you can afford to pay when you file? If so, don’t fail to take action. Make sure to file on time. That way you won’t have a penalty for…
The Health Care Law’s Effect on Your Tax Return
The Affordable Care Act contains tax provisions that affect the 2014 income tax return you file this year. Almost everyone is affected by the individual shared responsibility provision while only people who purchased coverage…
Save Twice with the Saver’s Credit
If you are a low-to-moderate income worker, you can take steps now to save two ways for the same amount. With the saver’s credit you can save for your retirement and save on your taxes…
Michigan to Grant Extensions to Severe Storm and Flooding Victims
State Treasurer Kevin Clinton announced today that the Michigan Department of Treasury will observe the Internal Revenue Service’s (IRS) tax filing extension, granted to taxpayers who were adversely affected by the severe storms and flooding…
Helpful Articles
Check “Get My Payment” for status of third EIP and watch the mail
The IRS continues to issue the third round of Economic Impact Payments to eligible individuals, with payments being issued as a direct deposit or by mail as a paper check or prepaid EIP debit card. No action…
Review Your Taxes This Summer to Prevent a Surprise Next Spring
Each year, many people get a larger refund than they expected. Some find they owe a lot more tax than they thought they would. If this happened to you, review your situation to prevent another…
How the CARES Act changes deducting charitable contributions
Whether you are supporting natural disaster recovery, COVID-19 pandemic aid or another cause that’s personally meaningful to you, your charitable donations may be tax deductible. These deductions basically reduce the amount of your taxable income….
Tools to help you get your Economic Impact Payment
The IRS has two tools to help millions of taxpayers with their Economic Impact Payment. The payments are $1,200 per eligible person and up to $500 for each qualifying child. The first tool, Non-filers: Enter Payment Info…
What taxpayers should do when they receive Form 1099-K
Form 1099-K, Payment Card and Third-Party Network Transactions, is an IRS form that is used to report certain payment transactions. If taxpayers receive a Form 1099-K, they should use that information with their other tax records…
2021 tax filing season set to begin February 12
The IRS will begin accepting and processing 2020 tax year returns on Friday, Feb.12, 2021. People who are ready to file can begin filing their tax returns with tax prep software, including IRS Free File. Software providers are…
What teachers should know about deducting out-of-pocket classroom expenses
Now that fall is here and school has started, many teachers are dipping into their own pockets to buy classroom supplies. Doing this throughout the year can add up fast. Fortunately, eligible educators may be…
Answers to Five of Your Questions about the Premium Tax Credit
The premium tax credit is a refundable credit that helps eligible individuals and families with low or moderate income afford health insurance purchased through a Health Insurance Marketplace. To get this credit, you must meet…
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