Taxpayers have the right to pay no more than the correct amount of tax
The IRS works hard to make sure taxpayers pay no more than the correct amount of tax. Taxpayers have the right to pay only the amount of tax legally due, including interest and penalties, and to have the IRS apply all tax payments properly. This is one of 10 basic rights known collectively as the Taxpayer Bill of Rights. The right to pay no more than the correct amount of tax means that taxpayers can: File for a refund if they believe they overpaid their taxes. Contact the IRS if...
Debunking common myths about federal tax refunds
Once people complete and file their tax return, many of them eagerly await any refund they may be owed. Knowing fact from fiction can help manage expectations as they wait for their money. Myth: Calling the IRS, a tax software provider or a tax professional will provide a more accurate refund date. Fact: The best way to check the status of a refund is through the Where's My Refund? tool or the IRS2Go app. Taxpayers can also call the automated refund hotline...
Adoptive parents: Don’t forget about the Adoption Tax Credit
Taxpayers who adopted or started the adoption process in 2023 may qualify for the adoption credit. This credit can be applied to international, domestic, private and public foster care adoption. Here is some basic information to help people understand this credit and whether they can claim it when they are filing their taxes: The maximum adoption credit taxpayers can claim on their 2023 tax return is $15,950 per eligible child. There are income limits that could affect the amount of the...
Parents: Check eligibility for the Credit for Other Dependents
The Credit for Other Dependents is a $500 non-refundable credit available to taxpayers with dependents who are not eligible for the Child Tax Credit. Taxpayers can claim this credit in addition to the Child and Dependent Care Credit and the Earned Income Credit. This information can help taxpayers determine their eligibility to claim this credit on their 2023 tax return. This credit can be claimed for dependents who: Are of any age, including those who are age 18 or older. Have...
