Scammers commonly set up fake charities to take advantage of people’s generosity during natural disasters and other tragic events. Taxpayers should use the Tax Exempt Organization Search tool to check that an organization is legitimate before they...
Businesses that make structural adaptations or other accommodations for employees or customers with disabilities may be eligible to save money on their taxes. Here are the tax incentives for employers who provide accommodations for people with disabilities. Disabled...
Employers who hire people from certain groups can reduce the tax they owe when they claim the Work Opportunity Tax Credit on their federal tax return. To claim the credit, an employer must first get certification an individual is eligible. This credit...
It may be important for victims of a disaster to reconstruct their tax and financial records to help prove and document their losses so they can get federal assistance or insurance reimbursement. Below are some tips to help people reconstruct important...
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...
The IRS and the Security Summit partners continue to see identity thieves targeting tax professionals in hopes of gaining valuable client tax information. Tax professionals should contact the IRS immediately when there's an identity theft issue. Tax...
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....
Many working parents arrange for care of their younger children under age 13 during the summer. A popular solution is a day camp program, which can sometimes also lead to a tax benefit. Taxpayers who pay for the care of a child, or other qualifying person, so they...
