Tax articles
395 plain-English guides to U.S. federal taxes, newest first.
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Refundable Tax Credits vs. Non-Refundable Tax Credits
Sometimes credits can be too much, and we mean that in every sense of the word. Thankfully, tax credits offer some much needed relief to the overwhelmed taxpayer.
The Work Opportunity Tax Credit (WOTC)
It's a tough job market, and many businesses and workers are still struggling with the COVID-19 pandemic and its effects on the economy. The federal government created an incentive for employers to hi…
Where’s My Refund?: Checking The Status Of Your Tax Refund
“Yeah, I don’t really care to get my tax refund” said absolutely no one, ever. For millions of people, tax refunds are the light at the end of the tunnel that is tax season. Many of them even depend o…
The Standard Tax Deduction: 6 Key Points To Know
Are you going to take the standard tax deduction, or will you claim itemized deductions? To better answer this question, you may need to learn more about the standard deduction and the benefits that i…
Unemployment Tax Refunds Are Being Sent to People Who Overpaid Their Taxes
The IRS announced that it will be issuing another round of income tax refunds to nearly 4 million taxpayers who overpaid their federal taxes on unemployment benefits (both regular and federal extended…
Missed the May 17 Deadline? File Taxes Now to Get a Refund & Lower Penalties
The IRS encourages people who have not yet filed their individual income tax return to do so as soon as possible. Here are some important tips and information if you have missed the filing due date.
Cryptocurrency Taxes
When you hear cryptocurrency, your mind may automatically jump to big names like Bitcoin and Ethereum. What you may not think of is taxes. However, like other assets, cryptocurrency (and virtual curre…
How to Obtain Old Tax Returns (For Free)
Getting a full copy or a transcript of your past tax returns is possible, but why would you want one? I mean, the past is in the past, and who needs the memories, right? Especially about taxes!
What Tax Bracket Am I In?: How To Find Your Income Tax Bracket
"What tax bracket am I in?" is probably a question that pops into your head at least once per tax season. Chances are that most people reading this article have a working yet still vague idea of what…
IRS Tax Withholding Estimator
Tax withholdings are the portion of your wages held from your paychecks by your employer. They are determined based on your filing status and standard deduction for the year. Federal taxes are withhel…
Apply for Estate Tax ID (EIN) Number | How to Apply Online
It’s not easy to be put in charge of someone else’s property, especially after that person has passed away. Managing their affairs after they’re gone can definitely be overwhelming, especially if you…
Federal Tax Break for Child & Dependent Care Expenses
Did you pay for daycare, summer camp, or a babysitter to care for your kids during 2018? Or did you pay a care provider to look after your dependent (e.g., spouse or qualifying individual) while you w…
8 Smart Ways To Settle Your IRS Tax Debt
Most people know that there are few things is in this life as certain as death and taxes. However, each year, millions of people are still surprised by the amount of taxes they owe. Despite the absolu…
Which Tax Form To File Now That 1040A & 1040EZ Are No Longer Used?
The Internal Revenue Service Form 1040 is the standardized official document that individual taxpayers (most U.S. citizens and permanent residents who work in the U.S.) use to file their income tax re…
You and Your Form W2: What It Says, Why You Need It, and Where You Can Get Last Year's W2
How do you do that Form W2 voodoo you do so well?
How To Find AGI on Your Tax Return to E-File
Year after year, you collect a great amount of data and report it to the IRS, but what happens when you need to find one specific detail? It can be like finding a needle in a haystack! Well, if you wa…
Income Tax Tips for Selling a Home
Selling your home is often a triumph – but it can also be a stressful and complicated process. Don’t forget to consider the tax implications for your real estate transactions.
How to Get an LLC and EIN (Tax ID Number)
Obtaining your EIN Number for an LLC can be done fairly easily online. Now that EIN (Tax ID) obtainment is available via the web, businesses no longer need to apply the “old way” via fax or by mail. S…
Steps to Obtain your Estate Tax ID Number Online
Let's face it, dealing with the death of a loved one is never enjoyable; but with a little understanding of what you're going to need in advance, you can soften the hardships involved with settling yo…
Amended Tax Return
Did you make a mistake on your Federal tax return that you need to correct?
Top 5 Most Popular Itemized Deductions for U.S. Taxpayers
Itemizing your tax deductions can decrease your taxable income by a sizable amount, but you can’t just choose whatever expenses that catch your fancy. Familiarize yourself with how itemized deductions…
Can You Get an Additional Tax Return Extension?
It goes something like this: Tax season was fast approaching and you just knew you weren’t going to make the deadline to file your return on April 15, so you requested a tax extension.
Tax Tips To Report Your Hobby Income
Millions of people enjoy having hobbies — whether it’s photography, antiquing, craft making, collecting coins, or breeding horses, and even those that fall into the more bizarre side of things, but to…
Contacting the IRS: Phone Numbers, Email Addresses, and IRS Offices for Your Tax Issues
Need to talk to someone at the Internal Revenue Service? Start with 1-800-829-1040. The last four digits refer to individual income tax return Form 1040. (We see what you did there.)