Tax articles
395 plain-English guides to U.S. federal taxes, newest first.
139 results in Tax Forms
ClearForm 8275: Adjusting or Correcting Your Return
When you want to tell the IRS so much more than what's on their usual forms, there's Form 8275.
Form 7203 Instructions: Reporting Distributions or Payments Received from a Corporation
Are you a business owner wondering what the requirements for filing Form 7203 are? Filing taxes can be an arduous and confusing process, but understanding the basics of Form 7203 may help you navigate…
Form 3115: Application for Change in Accounting Method
Have you ever heard of a Form 3115? This document, which is also known as an Application for Change in Accounting Method, is required by the IRS if you want to change the way you calculate your busine…
Do S Corps Get a 1099?
The 1099-Misc form is one of the most commonly used tax documents for businesses, but do S Corps actually need to receive it? This question can be difficult to answer without a better understanding of…
Everything You Should Know About Getting, Using, and Renewing Your ITIN
An Individual Taxpayer Identification Number (ITIN) is a nine-digit tax processing number that starts with a "9," used by individuals to file a federal tax return if they do not have (and are ineligib…
Is Student Loan Forgiveness Taxable? - Why your IRS federal tax returns hold the answer
As of August 24, 2022, the Biden Administration announced a three-part plan to cancel certain amounts of federal student loan debt. The Student Loan Forgiveness Program aims to address the inflated co…
Jasmine DiLucci
Jasmine is a tax lawyer, certified public accountant, and enrolled agent. She graduated summa cum laude from SMU Dedman School of Law and cum laude from Claremont McKenna College with a Bachelor Degre…
The Expanded Child Tax Credit
Thanks to recent temporary changes to the federal Child Tax Credit (CTC), many more families with children are eligible to claim the child credit and even receive advance monthly payments from the IRS…
Markos Banos
Markos M. Baños Cabán, Esq., serves as Director of Resolutions at Community Tax LLC after years of serving his clients as a tax practitioner and an attorney. He has turned his passion for service into…
Markos Banos
Markos M. Baños Cabán, Esq., serves as Director of Resolutions at Community Tax LLC after years of serving his clients as a tax practitioner and an attorney. He has turned his passion for service into…
Tax Deductions for Student Loan Interest
By making a federal student loan payment, you’re eligible to deduct a portion of the interest paid in your federal tax return for this year. This is known as a student loan interest deduction, and it…
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…
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…
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?
Tax Form 1040 Instructions: What You Need to Know
Form 1040 is the flagship form of the Internal Revenue Service (IRS). It is used to report an individual’s income and calculate their federal income taxes. This form is used by all citizens and perman…
Form 5498: What It Is and How to Use It
Sometimes, IRS Forms can get so specialized and specific that it gets a little overwhelming dealing with them, right? Well, there are a few of them that are refreshing in their simplicity: Enter Form…
W-3 Forms: Everything Business Owners Need to Know
How does the Social Security Administration know what your employee wages were?