The Internal Revenue Service plans to transition more of its services for taxpayers to online, automated self-service options next tax season to save money and manpower. The IRS said the changes were made following input from stakeholders in the tax community
Tag: irs
Business or Hobby?
Nine Factors to tell if you have a Business or Hobby The IRS may question taxpayers regarding whether an activity is a business or a hobby. If the activity is not engaged in for profit, it is subject to the
No Tax Refunds During Shutdown
Tax Refunds In other government shutdown news, the IRS announced on its website on Tuesday that, “Tax refunds will not be issued until normal government operations resume.” This marked a change from its shutdown contingency plan, under which 859 employees in its
Tax Tips – Individuals Selling Their Home
Ten Tax Tips for Individuals Selling Their Home If you’re selling your main home this year, the IRS has some helpful tips for you. Even if you make a profit from the sale of your home, you may not have
IRS Provides Tax Relief to Victims of Colorado Storms
The Internal Revenue Service is providing tax relief to individual and business taxpayers impacted by severe storms, flooding, landslides and mudslides in Colorado. The IRS announced today that certain taxpayers in the counties of Adams, Boulder, Larimer and Weld will
Tax Tips – Summer Tune-up for Tax Records
During the summer, you may not think about doing your taxes, but maybe you should. Some of the expenses you’ve paid over the past few months might qualify for money-saving tax credits or deductions come tax time. If you organize
Tax Tips – Deducting Moving Expenses
If you make a work-related move, you may be able to deduct the costs of the move. This may apply if you move to start a new job or to work at the same job in a new job location.
IRS Launches Site to Explain Affordable Care Act
The IRS has launched a new Affordable Care Act Tax Provisions website at IRS.gov/aca to educate individuals and businesses on how the health care law may affect them. The home page has three sections, which explains the tax benefits and
Tax Tips – Back-to-School Tips for Students and Parents
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
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