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One Reason to File Your 2023 Tax Return Early
The 2023 individual income tax return filing season will open soon. Even if you typically don’t file until the deadline, consider filing earlier this year.
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Special Tax Rules for Children With Investment Income
Investment income generally includes interest, dividends, and capital gains. It also includes other unearned income, such as taxable scholarships or from a trust. These rules may affect the amount of tax and how to report the income.
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Getting Ready for the 2023 Tax Filing Season
Monday, January 23, 2023, marks the start of the 2023 tax filing season and the date the IRS begins accepting and processing 2022 tax year returns. More than 168 million individual tax returns are expected to be filed, with the vast majority...
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Do You Need to File an Amended Tax Return?
If you discover a mistake on your tax return after you’ve already filed it, don’t panic. In most cases, all you have to do is file an amended tax return.
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File on Time Even if You Can’t Pay
Taxpayers should file their tax returns by the deadline even if they cannot pay the total amount due, but if you can’t, there are several options.
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There’s Still Time To Make an IRA Contribution for 2021
If you haven’t contributed funds to an Individual Retirement Account (IRA) for tax year 2021, or if you’ve put in less than the maximum allowed, you still have time to do so. You can contribute to either a traditional or Roth IRA...
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What’s New for IRS Form 1040 This Year
If you’ve gathered your tax documents and are ready to tackle your tax return, there’s one more step you should take: becoming familiar with what’s new on the 2021 Form 1040. While the format of Form 1040 and its schedules...
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Individual Taxpayers: The Year in Review
As we close out the year and get ready for tax season, here’s what individuals and families need to know about tax provisions for 2021. Personal ExemptionsPersonal exemptions are eliminated for tax years 2018 through 2025. Standard...
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Tax Relief for Those Affected by Natural Disasters
Recovery efforts after natural disasters can be costly. With floods, tornadoes, hurricanes, earthquakes, and other natural disasters affecting so many people throughout the U.S. this year, many have been left wondering how they’re going to...
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