Tax help for new parents
Parents have special tax situations and benefits. Tax breaks for parenting expenses can result in a lower tax bill and a higher refund. Here are some key things new parents need to know. Before filing, new parents should: Get the child a Social Security or Individual Tax Identification numberTo claim parental tax breaks, the taxpayer must have their child’s or dependent's Social Security number, Adoption Tax Identification Number or Individual Tax Identification Number....
Taxpayers: Get accessible tax info and forms from the IRS Alternative Media Center
The IRS Alternative Media Center provides a variety of accessible services to help people who use assistive technology such as screen reading software, refreshable Braille displays, screen magnifying software and voice recognition software. Anyone can view and download hundreds of tax forms and publications in alternative formats, including: Text only. Braille-ready files. Browser-friendly HTML. Accessible PDF. Large print PDF. The Alternative Media Center works to make IRS resources...
Selecting a tax professional as a small business taxpayer
When a small business decides to bring in a tax professional, they should know what to expect and how to select a reputable practitioner. The IRS has information and resources to make choosing a tax professional easier. What a small business can expect from a tax professionalTax professionals are often able to advise a small business on the most effective way to structure their business. For instance, they can help a business owner decide whether their business interests would be better...
What taxpayers need to know about digital asset reporting and tax requirements
Taxpayers filing 2023 tax returns must check a box indicating whether they received digital assets as a reward, award or payment for property or services or disposed of any digital asset that was held as a capital asset through a sale, exchange or transfer. A digital asset is a digital representation of value that is recorded on a cryptographically secured, distributed ledger or any similar technology. Common digital assets include virtual currency and cryptocurrency, stablecoins and...
