What people need to know when starting a business Tax Tip 2024-41, April 30, 2024 — The IRS knows that understanding and meeting tax obligations is vital to the success of all businesses, especially a new one. IRS.gov has the resources and information to help people through the process of starting a new business. Small businesses: Find tax resources and tools on IRS.gov Tax Tip 2024-40, April 29, 2024 — During National Small Business Week, the IRS reminds taxpayers that IRS.gov has resources and tools to help small businesses understand and meet their tax responsibilities. What the right to a fair and just tax system means for taxpayers Tax Tip 2024-39, April 26, 2024 — Tax fairness means the tax system is equitable to all citizens. The right to a fair and just tax system is one of 10 rights in the Taxpayer Bill of Rights, which clearly outlines the fundamental rights of every taxpayer. When a taxpayer should file an amended federal tax return Tax Tip 2024-38, April 25, 2024 — When a taxpayer realizes that their federal tax return has a math error, missing income or other mistake, they should file an amended tax return. Taxpayers could settle federal tax debt with an offer in compromise Tax Tip 2024-37, April 24, 2024 — When a taxpayer can't pay their full tax debt or if paying would cause financial hardship, they should consider applying for an offer in compromise. If taxpayers missed the deadline to file a federal tax return, the IRS can help Tax Tip 2024-36, April 23, 2024 — Taxpayers who missed the April tax filing and payment deadline should file as soon as they can. The IRS offers resources to help those who may be unable to pay their tax bill in total. Debunking common myths about federal tax refunds Tax Tip 2024-35, April 17, 2024 — Once people complete and file their tax return, many of them eagerly await any refund they may be owed. Knowing fact from fiction can help manage expectations as they wait for their money. Filing a federal tax return even if it’s not required could put money in taxpayers’ pockets Tax Tip 2024-34, April 16, 2024 — Some people choose not to file a tax return because they aren't legally required to file, but they could be missing out on refundable tax credits or an income tax refund. Taxpayers have the right to pay no more than the correct amount of tax Tax Tip 2024-33, April 15, 2024 — The IRS works hard to make sure taxpayers pay no more than the correct amount of tax. Taxpayers have the right to pay only the amount of tax legally due, including interest and penalties, and to have the IRS apply all tax payments properly. This is one of 10 basic rights known collectively as the Taxpayer Bill of Rights. Direct deposit is the best way to get a federal tax refund Tax Tip 2024-32, April 11, 2024 — Direct deposit is the best way to receive a tax refund. The IRS encourages taxpayers to file by the April 15 federal tax deadline and choose direct deposit to receive any refund they may be owed. Options for taxpayers who need help paying a tax bill Tax Tip 2024-31, April 10, 2024 —Taxpayers who can't pay their tax bill by the April 15, 2024, deadline shouldn't panic – the IRS is here to help. There are several options to help taxpayers meet their obligations. Taxpayers: Remember, an extension to file is not an extension to pay taxes Tax Tip 2024-30, April 9, 2024 — Taxpayers who can’t file by the deadline of April 15, 2024, should request an extension before that deadline. Remember, however, that an extension to file is not an extension to pay taxes. If they owe taxes, they should pay them before the due date to avoid potential penalties and interest on the amount owed. Things to remember when filing a 2023 tax return Tax Tip 2024-29, April 8, 2024 — The IRS has some important reminders for taxpayers who haven’t filed yet. The deadline for most taxpayers to file and pay their 2023 federal tax is April 15, 2024. Families can save money with free tax filing options Tax Tip 2024-28, April 4, 2024 — Taxpayers with families who want to file free federal tax returns have several options that offer online tax preparation, electronic filing and direct deposit of refunds for free. Adoptive parents: Don’t forget about the Adoption Tax Credit Tax Tip 2024-27, April 3, 2024 — Taxpayers who adopted or started the adoption process in 2023 may qualify for the adoption credit. This credit can be applied to international, domestic, private and public foster care adoption. Parents: Check eligibility for the credit for other dependents Tax Tip 2024-26, April 2, 2024 — The credit for other dependents is a $500 non-refundable credit available to taxpayers with dependents who are not eligible for the child tax credit. Taxpayers can claim this credit in addition to the child and dependent care credit and the Earned Income Credit. Tax help for new parents Tax Tip 2024-25, April 1, 2024 — Parents have special tax situations and benefits. Tax breaks for parenting expenses can result in a lower tax bill and a higher refund. Here are some key things new parents need to know. Tax tip archive IRS tax tips from January 2011 forward.
