6 Smart Ways to Spend Your Tax Refund
If you are like most people, you are expecting a hefty tax refund from the IRS. With the average refund being thousands of dollars, there will soon be a lot of money sloshing around the economy. If you are one of those lucky taxpayers, you are probably already thinking of things to...
Tax Tips for Single Parents
According to Pew Research, one in four U.S. parents are unmarried. Filing taxes can be frustrating for anyone but it requires even more planning as a single parent. You want to avoid any mix-ups about who's claiming the kids and take advantage of beneficial tax breaks that can...
More Savings This Tax Season – The State of Washington Just Introduced a Working Families Tax Credit
The new tax credit can help residents of the state of Washington get back more money at tax time. Beginning February 1st, eligible workers can claim the Working Families Tax Credit (WFTC) and get up to $1,200. How do I apply? All applications must be received by December 31,...
Do You Want to Pay as Little Taxes as Possible?
It’s super ez! Virginia’s just ramped up it’s Standard Deduction. This year, Virginia residents are in luck. Filers can save a lot more money because the standard deduction amount for the State of Virginia has almost DOUBLED. And, as you may already know, one of the ez-est ways to...
IRS sets January 23 as official start to 2023 tax filing season
WASHINGTON — The Internal Revenue Service today announced Monday, January 23,2023, as the beginning of the nation's 2023 tax season when the agency will begin accepting and processing 2022 tax year returns. More than 168 million individual tax returns are expected to be filed, with...
Tax tips for gig economy entrepreneurs and workers
In recent years, the gig economy has changed how people do business and provide services. Taxpayers must report their gig economy earnings on a tax return – whether they earned that money through a part-time, temporary or side gig. The IRS Gig Economy Tax Center provides information...
Can You Really Prepare and File Your Taxes for Free?
At tax time, you’re bombarded with ads for free tax returns. It’s everywhere – your TV, billboards, social media, and even the Super Bowl. Even if you’ve never tried online tax filing before, those “free free free” commercials have probably at least piqued your interest and left...
IRS completes automatic corrections of tax year 2020 accounts related to unemployment compensation exclusion
WASHINGTON – The Internal Revenue Service recently completed the final corrections of tax year 2020 accounts for taxpayers who overpaid their taxes on unemployment compensation they received in 2020. The American Rescue Plan Act of 2021, which became law in March 2021, excluded up...
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