by admin | Jul 3, 2023 | IRS
WASHINGTON ― The Internal Revenue Service warned taxpayers today to be on the lookout for a new scam mailing that tries to mislead people into believing they are owed a refund. The new scheme involves a mailing coming in a cardboard envelope from a delivery service....
by admin | Jun 14, 2023 | IRS
Many people move during the summer. Taxpayers who are selling their home may qualify to exclude all or part of any gain from the sale from their income when filing their tax return. When selling a home, homeowners should think about: Ownership and use To claim the...
by admin | May 4, 2023 | IRS
WASHINGTON – The Internal Revenue Service reminds taxpayers that making certain energy efficient updates to their homes could qualify them for home energy tax credits. The credit amounts and types of qualifying expenses were expanded by the Inflation Reduction Act of...
by admin | May 3, 2023 | IRS
Sometimes the line between having a hobby and running a business can be confusing, but knowing the difference is important because hobbies and businesses are treated differently when it’s time to file a tax return. The biggest difference between the two is that...
by admin | Apr 24, 2023 | IRS
In recent years, a growing number of illegal tax preparers have cropped up, promising clients massive tax refunds that seem too good to be true. While the lure of a large refund can be tempting, engaging in illegal tax preparation can have serious consequences for...
by admin | Mar 30, 2023 | IRS
It’s important for taxpayers to file a federal tax return that has a complete and correct reporting of their income – which may mean including income from sources other than regular wages from an employer. Income from gig economy activities and tip income are two...
