Going to college can be a stressful time for students and parents. The IRS offers these tips about education tax benefits that can help offset some college costs and maybe relieve some of that stress. American Opportunity Tax Credit. This
Category: Taxes
Tax Tips – Gambling Income and Losses
Six Tips on Gambling Income and Losses Whether you roll the dice, play cards or bet on the ponies, all your winnings are taxable. The IRS offers these six tax tips for the casual gambler. Gambling income includes winnings from
Tax Tips – Special Tax Benefits for Armed Forces Personnel
If you’re a member of the U.S. Armed Forces, the IRS wants you to know about the many tax benefits that may apply to you. Special tax rules apply to military members on active duty, including those serving in combat
Tax Tips for Taxpayers Who Travel for Charity Work
Do you plan to travel while doing charity work this summer? Some travel expenses may help lower your taxes if you itemize deductions when you file next year. Here are five tax tips the IRS wants you to know about
Tax Tips if You’re Starting a Business
If you plan to start a new business, or you’ve just opened your doors, it is important for you to know your federal tax responsibilities. Here are five basic tips from the IRS that can help you get started. Type
IRS Gives Tax Relief To Oklahoma Tornado Victims
Return Filing and Tax Payment Deadlines Extended to Sept. 30, 2013 WASHINGTON –– After the devastating tornado in Moore and Oklahoma City, the Internal Revenue Service has provided tax relief to individuals and businesses affected by this and other severe storms
Tax Tips – Summer Job Tax Information for Students
When summer vacation begins, classroom learning ends for most students. Even so, summer doesn’t have to mean a complete break from learning. Students starting summer jobs have the opportunity to learn some important life lessons. Summer jobs offer students the
Tax Tips – Six Facts on Tax Refunds and Offsets
Certain financial debts from your past may affect your current federal tax refund. The law allows the use of part or all of your federal tax refund to pay other federal or state debts that you owe. Here are six
Tax Tips – Dealing with IRS Notices
Each year, the IRS sends millions of letters and notices to taxpayers for a variety of reasons. Here are ten things you should know about IRS notices in case one shows up in your mailbox. Don’t panic. Many of these
Tax Tips – Filing an Amended Tax Return
Ten Facts on Filing an Amended Tax Return What should you do if you already filed your federal tax return and then discover a mistake? Don’t worry; you have a chance to fix errors by filing an amended tax return.