Each and every taxpayer has a set of fundamental rights they should be aware of when dealing with the IRS. Explore your rights and our obligations to protect them. The Right to Be InformedThe Right to Quality ServiceThe Right to Pay No More than the Correct Amount of TaxThe Right to Challenge the IRS’s Position […]
Taxpayer Bill of Rights Read More »
IRS Tax Tip 2020-03, January 15, 2020 The Taxpayer Bill of Rights protects all taxpayers working with the IRS. In fact, they lay out the framework to make sure the IRS fairly and impartially carries out tax administration. These rights are explained on IRS.gov and in Publication 1, Your Rights As A Taxpayer. They describe what taxpayers can expect if
All Taxpayers Should Know Their Rights Read More »
Small business owners, self-employed people, and some wage earners should look into whether they should make estimated tax payments this year. Doing so can help them avoid an unexpected tax bill and possibly a penalty when they file next year. Everyone must pay tax as they earn income. Taxpayers who earn a paycheck usually have
Things to Know About Making Estimated Tax Payments Read More »
Tax planning should happen all year long, not just when someone is filing their tax return. An important part of tax planning is recordkeeping. Well-organized records make it easier for a taxpayer to prepare their tax return. It can also help provide answers if a taxpayer’s return is selected for examination or if the taxpayer
Good tax Planning includes Good Recordkeeping Read More »
Taxpayers with questions about their federal tax accounts can hop over to IRS.gov for answers. Individual taxpayers can login to the View Your Account Information page to view specific details about their federal tax account information. Taxpayers can view: Their payoff amount, which is updated for the current day. The balance for each tax year
Here’s how individual taxpayers can view their tax account info Read More »
Here’s how tax reform affects taxpayers who claim the child tax credit Many people claim the child tax credit to help offset the cost of raising children. Tax reform legislation made changes to that credit for 2018 and later. Here are some important things for taxpayers to know. Credit amount. The new law increases the child tax credit
Taxpayers who discover they made a mistake on their tax returns after filing can file an amended tax return to correct it. This includes things like changing the filing status, and correcting income, credits or deductions. Here are some tips for taxpayers who need to amend a tax return. Complete and mail the paper Form 1040X,
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IRS offers guidance on recent 529 education savings plan changes WASHINGTON — The Internal Revenue Service and Department of the Treasury today announced their intent to issue regulations on three recent tax law changes affecting popular 529 education savings plans. Notice 2018-58, addresses a change included in the 2015 Protecting Americans From Tax Hikes (PATH)
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Taxpayers who filed for an extension of time have until Oct. 15 to submit their tax return. To make sure they meet their tax obligations, taxpayers should file accurate tax returns. If a taxpayer makes an error on their tax return, it will likely take longer to process and could delay a refund. Taxpayers can
Extension filers can avoid making these common filing errors Read More »
Reminder for extension filers: Oct. 15 is just around the corner Monday, October 15, 2018, is the extension deadline for most taxpayers who requested an extra six months to file their 2017 tax return. For taxpayers who have not yet filed, here are a few tips to keep in mind about the extension deadline and
Reminder for extension filers; Oct. 15 is just around the corner Read More »
