The Internal Revenue Service today reminded taxpayers the deadline to submit their third quarter estimated tax payment is Sept. 16, 2024. The IRS also reminded taxpayers affected by disasters in 17 states, Puerto Rico and the Virgin Islands that they may...
An educational assistance program is an employer’s written plan to provide employees with undergraduate or graduate-level educational assistance. These programs allow employers to pay student loan debt and other education expenses tax-free. Eligible...
There are two education tax credits designed to help offset education costs: the American Opportunity Tax Credit and the Lifetime Learning Credit. Eligibility requirementsFor both tax credits, to be eligible: The taxpayer, their spouse or...
The Educator Expense Deduction lets eligible teachers and administrators deduct part of the cost of technology, supplies and training from their taxes. They can claim this deduction only for expenses that weren't reimbursed by their employer, a grant or other sources....
Protecting taxpayer privacy is priority at the IRS. The right to privacy is one of 10 rights the Taxpayer Bill of Rights gives all taxpayers. Taxpayers have the right to expect that any IRS inquiry, examination or enforcement action will comply with the...
While summer is a time for fun, it’s never the wrong time to thinking about taxes – and some of those summer activities could have an impact. Here are a few summertime activities and tips on how taxpayers should consider them for filing season. MarriageWedding season...
Here are some simple things taxpayers can do throughout the year to make filing season less stressful. Organize tax records. Create a system that keeps all important information together. Taxpayers can use a software program for electronic recordkeeping or store paper...
Natural disasters can strike without warning. Sometimes even the most diligent taxpayers are left without the important personal and financial records they need. People may need documentation for tax purposes, federal or state assistance programs or insurance claims....
People should put together an emergency preparedness plan for their household – and include copies of their vital records and financial information. By creating an emergency preparedness plan and updating it annually, people will be able to start the recovery process...
Just because a taxpayer filed a tax return doesn’t mean they should forget taxes until next year. What a taxpayer does now may affect the tax they owe or the refund they may receive next year. Here are some simple year-round tax planning pointers for all taxpayers....
