The IRS will begin accepting and processing 2020 tax year returns on Friday, Feb.12, 2021. People who are ready to file can begin filing their tax returns with tax prep software, including IRS Free File. Software providers are…

The IRS encourages businesses to begin planning now to take advantage of tax benefits available to them when they file their 2022 federal income tax return. This includes the enhanced business meal deduction. For 2021…

In January, the IRS Identity Protection PIN Opt-In Program will be expanded to all taxpayers who can properly verify their identity. An identity pretention PIN is a six-digit number assigned to eligible taxpayers to help…

Americans who are nearing retirement age have about $200,000 in their 401(k) accounts on average, a new survey found. According to Vanguard’s “How America Saves 2019” report, published this month, the average American worker aged…

Whether you are supporting natural disaster recovery, COVID-19 pandemic aid or another cause that’s personally meaningful to you, your charitable donations may be tax deductible. These deductions basically reduce the amount of your taxable income….

Taxpayers who claim at least one child as their dependent on their tax return may be eligible to benefit from the child tax credit. It’s important for people who might qualify for this credit to review the eligibility…

People must use Get My Payment by noon Wednesday, May 13, for a chance to get their Economic Impact Payment by direct deposit. After noon Wednesday, the IRS will begin preparing to mail millions of additional payments to…

The IRS issues most refunds in fewer than 21 days for taxpayers who file electronically and choose direct deposit. However, some returns have errors or need more review and may take longer to process. The…