For many new grads and other people entering the workforce for the first time, filling out new hire paperwork can be confusing—what’s a W-4, anyway? New employees should ensure they understand their tax situation and do some planning now, so
When people go through a legal separation or divorce, the change in their relationship status also affects their tax situation. The IRS considers a couple married for filing purposes until they get a final decree of divorce or separate maintenance.
Tax scams are a problem all year long, but tend to be more common right after the filing season is over. Many frustrated taxpayers are trying to resolve issues, especially if they received a balance due notice in the mail.
Anyone who has not yet filed their 2021 tax return, including those who requested an extension, should file as early as possible once they have all their information together. There’s no need to wait until the October deadline. Preparing your
What is the WOTC? This long-standing tax benefit encourages employers to hire workers certified as members of any of ten targeted groups facing barriers to employment. With millions of Americans out of work at one time or another since the
All taxpayers who missed Monday’s April 18 tax-filing deadline should file as soon as possible. While taxpayers due a refund receive no penalty for filing late, those who owe and missed the deadline without requesting an extension should file quickly
A hobby is any activity that a person pursues because they enjoy it and with no intention of making a profit. People operate a business with the intention of making a profit. Many people engage in hobby activities that turn
Even though the IRS issues most refunds in less than 21 days for taxpayers who filed electronically and chose direct deposit, some refunds may take longer. The IRS is understaffed and is still dealing with a backlog from last year.
Do you have a beach or mountain home that you rent out? If the average period of rental is less than 30 days, you likely have a choice—either claim the income and expenses on Schedule C, or claim the income
Gig economy earnings are taxable Generally, income earned from the gig economy is taxable and must be reported to the IRS. The gig economy is activity where people earn income providing on-demand work, services or goods. Often, it’s through a