The Internal Revenue Service tax reforms and news for individual and business taxes. Use tools brought to you by the IRS to ease the burden of taxes.
If you’ve ever found yourself wondering, does the IRS work on weekends? you’re not alone. Many taxpayers are curious about whether they can reach the IRS or get updates on their returns and requests during the weekend. While the IRS’s standard working hours are Monday through Friday, the short answer is: no, the IRS doesn’t … Read more
If you’ve ever been eagerly waiting for your tax refund, only to find out that the IRS has delayed it for review, you may be wondering: how long can the IRS hold your refund for review? While it’s natural to want your refund as quickly as possible, there are several reasons the IRS might delay … Read more
If you’re wondering how the IRS verifies child dependent care, you’re not alone! The IRS verification process for child dependent care is a key step to ensure that taxpayers are claiming the appropriate credits for eligible children and dependents. When you claim the Child and Dependent Care Credit on your tax return, the IRS requires … Read more
When it comes to the tax treatment of business property gains, many taxpayers wonder, “does 1231 override 1245?” The simple answer is no — Section 1245 does not get overridden by Section 1231; instead, it takes priority or “overrides” Section 1231 but only in a very specific way related to depreciation recapture on certain types … Read more
If you’ve ever encountered the phrase “discharge of tax lien,” you know it’s a financial lifesaver—especially for property owners hoping to sell, refinance, or restore peace of mind! A tax lien is the government’s claim against your property when you owe back taxes, and a discharge of tax lien is an official IRS action that … Read more
If you’ve ever sighed at your credit card statement and asked, “Can I write off credit card annual fees?”—you’re definitely not alone. With annual fees becoming more common (and sometimes pretty steep!) on many credit cards offering rewards or premium perks, it’s only fair to wonder if that expense can lighten your tax load. Here’s … Read more
If you’re searching for a rewarding way to break into the world of finance, the Entry Level Tax Preparer Jobs Guide is your ticket to understanding how to land your first role, what employers are looking for, and how to set yourself up for long-term success in tax preparation. Entry level tax preparer jobs are … Read more
Filing taxes as a cooperative association can be a maze of forms, deadlines, and IRS addresses—but knowing exactly where to file 1120-C is the first step to a smooth tax season. The U.S. Income Tax Return for Cooperative Associations, better known as Form 1120-C, is the primary document that agricultural, utility, and other qualifying cooperatives … Read more
“Can you make your parent drop you as a dependent?” That’s a question more and more young adults are asking as they explore tax independence, college financial aid, and even health insurance options. Maybe you just landed your first big job, or perhaps you want to claim some sweet tax credits yourself. Either way, the … Read more
Losing your ITIN number can be stressful, especially when you realize it’s essential for tax filings and other financial matters. The ITIN (Individual Taxpayer Identification Number) is crucial for anyone who doesn’t have a Social Security Number (SSN) but still needs to file taxes or participate in other financial activities. So, what happens if you … Read more