Found 62 Matching Items; Displaying 31 - 40.
Involuntary conversion: Get more time to replace property
You can request more time to replace involuntarily converted property and defer any gains.
General Information
Individuals, Tax Professionals, Businesses
Tax basics: Understanding the difference between standard and itemized deductions
Tax Tip 2023-03, January 10, 2023 — One of the first decisions taxpayers must make when completing a tax return is whether to take the standard deduction or itemize their deductions. There are several factors that can influence a taxpayer’s choice, including changes to their tax situation, any changes to the standard deduction amount and recent tax law changes.
General Information
Individuals
Important tax reminders for people selling a home
Tax Tip 2022-78, May 19, 2022 — A lot of families move during the summer. Taxpayers who are selling their home may qualify to exclude all or part of any gain from the sale from their income when filing their tax return.
General Information
Individuals
Tax considerations when selling a home
Tax Tip 2023-81 June 14, 2023 — Many people move during the summer. Taxpayers who are selling their home may qualify to exclude all or part of any gain from the sale from their income when filing their tax return.
General Information
Individuals
Understanding Your CP162A Notice
We charged you a penalty because your partnership or S corporation return was either late or incomplete, or you didn’t file it electronically, as required.
General Information
Individuals
IRS provides penalty relief for 2020 and 2021 tax returns; help paying taxes
FS-2023-28, Dec. 2023 — Taxpayers who had a balance due for tax years 2020 and/or 2021 and did not receive balance due reminder notices due to the pandemic-related pause, may be eligible for automatic penalty relief.
General Information
Individuals
How to work with a tax professional to claim the Earned Income Tax Credit (EITC)
Find out what you need to know to work with a tax professional to claim the Earned Income Tax Credit (EITC). Save time and avoid mistakes.
General Information
Individuals
The deadline for the final 2022 estimated tax payment is January 17
Tax Tip 2023-04, January 11, 2023 — Many taxpayers make quarterly estimated tax payments during the year to stay current on their taxes. Anyone who paid too little tax in 2022 needs to make a fourth quarter payment on or before January 17 to avoid an unexpected potential tax bill or penalty when they file in 2023.
General Information
Individuals
Check tax withholding now to avoid paying future quarterly estimated payments
IR-2023-10, January 19, 2023 — The Internal Revenue Service reminds taxpayers who earn wages to use the Tax Withholding Estimator now to adjust their 2023 withholding.
News
News Media, Individuals