The tax filing season is a popular time for scammers to call and try to dupe unsuspecting taxpayers. These thieves often make threatening or alarming calls posing as the IRS to try to steal taxpayer money or personal information. However, it's easy for people to recognize this scam by knowing [...]

One of the first decisions taxpayers must make when completing a tax return is whether to take the standard deduction or itemize their deductions. Several factors can influence a taxpayer's choice, including changes to their tax situation, any changes to the standard deduction amount, and recent tax law changes. Generally, [...]

Many taxpayers make quarterly estimated tax payments during the year to stay current on their taxes, but many should overlook this step. The Internal Revenue Service today urged those who paid too little tax in 2022 to make a fourth-quarter payment on or before Jan. 17 to avoid an unexpected potential [...]

Are you playing your new guitar as a hobby or are you using it to teach lessons in the community? Most people take up hobbies for personal enjoyment, not to make a profit. Sometimes, however, the line between hobbies and businesses isn't clear-cut. According to a news release, there are [...]

Last year, more than 58,000 IRS volunteers gave back to their communities by preparing more than 2.2 million federal income tax returns for individuals and families nationwide. These volunteers provided free tax help in communities across the country. The IRS is recruiting volunteers now for the 2023 filing season For over 50 years, the IRS Volunteer Income [...]

People with disabilities and their families can use Achieving a Better Life Experience or ABLE accounts to help pay for qualified disability-related expenses. ABLE accounts are tax-advantaged savings accounts that don't affect eligibility for government assistance programs. According to a news release, here are some key things people should know about [...]