by admin | Jan 26, 2022 | IRS
As the 2022 filing season begins, the IRS encourages taxpayers to file electronically when they are ready and choose direct deposit to get their refund. Direct deposit is the safest and most convenient way to receive a tax refund. Here are some other benefits of...
by admin | Jan 24, 2022 | IRS
Taxpayers with dependents who don’t qualify for the child tax credit may be able to claim the credit for other dependents. This is a non-refundable credit. It can reduce or, in some cases, eliminate a tax bill but, the IRS cannot refund the taxpayer any portion...
by admin | Jan 19, 2022 | IRS
This Fact Sheet updates the 2020 Recovery Rebate Credit Frequently-Asked-Questions (FAQs). These updates are:• Question 4, Topic F: Finding the First and Second Economic Impact Payment Amounts to Calculate the 2020Recovery Rebate Credit (updated)• Question 8, 9 &...
by admin | Jan 19, 2022 | IRS
The home office deduction allows qualified taxpayers to deduct certain home expenses when they file taxes. To claim the home office deduction on their 2021 tax return, taxpayers generally must exclusively and regularly use part of their home or a separate structure on...
by admin | Jan 13, 2022 | IRS
Taxpayers must report gig economy earnings when filing taxes Whether it’s a full-time job or just a side hustle, taxpayers must report gig economy earnings on their tax return. Understanding how gig work can affect taxes may sound complicated but, it doesn’t have to...
