The Internal Revenue Service posted frequently asked questions that address whether certain costs related to nutrition, wellness, and general health are medical expenses that may be paid or reimbursed under a health savings account (HSA), health flexible spending arrangement (FSA), Archer medical savings account (Archer MSA) or health reimbursement arrangement [...]

Taxpayers who aren't able to file by April 18, 2023, the deadline can request an extension before that deadline, but they should know that an extension to file is not an extension to pay taxes. If they owe taxes, they should pay them before the due date to avoid potential penalties and [...]

Some people choose not to file a tax return because they aren't legally required to file, but they could be missing out on refundable tax credits or an income tax refund, according to a news release. This could apply to someone if they: Have had federal income tax withheld from [...]

Taxpayers with dependents who don't qualify for the Child Tax Credit may be able to claim the Credit for Other Dependents. They can claim this credit in addition to the Child and Dependent Care Credit and the Earned Income Credit. Here's more information to help taxpayers determine whether they're eligible to claim the Credit for [...]

Many taxpayers know about the IRS Free File program, which lets people who make less than $73,000 file their federal tax returns for free. They should also be sure to check if the program offers no-cost filing for their state tax return. IRS Free File can help millions of eligible taxpayers [...]

Seniors and retirees who want to file their taxes for free or find free in-person tax help can look at a few programs available for eligible taxpayers, according to a news release. In-person IRS Help for Seniors and Low-income Taxpayers Eligible taxpayers can also have their taxes prepared in person [...]

Navigating the tax return preparation process can be intimidating if you're filing for the first time. IRS Free File can help. This program provides free tax preparation, free electronic filing, and free direct deposit for eligible taxpayers. The IRS Free File income limit for the tax year 2022 is $73,000 for families [...]

Businesses or other payers required to take backup withholding funds from payments should make sure they have a few upcoming filing deadlines on their calendars. Backup withholding can apply to most kinds of payments reported on Forms 1099 and W-2G. There are, however, situations when a payer must withhold 24% of [...]

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, [...]