The Internal Revenue Service issued frequently asked questions (FAQs) for the 2021 Recovery Rebate Credit. Individuals who did not qualify for, or did not receive, the full amount of the third Economic Impact Payment may be eligible to claim the 2021 Recovery Rebate Credit based on their 2021 tax year [...]

The IRS urges taxpayers to check into their options to avoid being subject to estimated tax penalties, which apply when someone underpays their taxes. Taxpayers who paid too little tax during 2021 can still avoid a surprise tax-time bill and possible penalty by making a quarterly estimated tax payment now, directly [...]

Criminals and fraudsters often see disasters as an opportunity to take advantage of victims when they are the most vulnerable, as well as the generous taxpayers who want to help with relief efforts. These disaster scams normally start with unsolicited contact. The scammer contacts their possible victim by telephone, social [...]

Good news for victims of Hurricane Ida. Six states now have until Feb. 15, 2022, extended from Jan. 3, to file various individual and business tax returns and make tax payments, the Internal Revenue Service said. The updated relief covers the entire states of Louisiana and Mississippi, as well as [...]

The Internal Revenue Service and the Treasury Department reports millions of American families will soon receive their final advance Child Tax Credit (CTC) payment for the month of December. Eligible families who did not receive advance payments can claim the Child Tax Credit on their 2021 federal tax return to [...]

The Internal Revenue Service encourages taxpayers to take important actions in December to help them file their federal tax returns in 2022, including special steps related to Economic Impact Payments and advance Child Tax Credit payments. This is the second in a series of reminders to help taxpayers get ready [...]