Search Results

An individual retirement arrangement (IRA) is a tax-favored personal savings arrangement, which allows you to set aside money for retirement. There are several different types of IRAs, including traditional IRAs and Roth IRAs. You can set up an IRA with a bank, insurance company, or other financial institution.

Information about Form 8453, U.S. Individual Income Tax Transmittal for an IRS e-file return, including recent updates, related forms and instructions on how to file.

This update reflects changes to the Form 8938 reporting requirements made in the final regulations under section 6038D

Issues Limited Liability Companies may face.

Self-Employment Tax for Businesses Abroad

You are a dual-status alien when you have been both a resident alien and a nonresident alien in the same tax year.

IR-2024-18, Jan. 22, 2024 — The Internal Revenue Service today reminded taxpayers that they must again answer a digital asset question and report all digital asset related income when they file their 2023 federal income tax return, as they did for their 2022 federal tax returns.

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.

Tax Tip 2022-06, January 11, 2022 — Taxpayers have two options when completing a tax return, take the standard deduction or itemize their deductions. Most taxpayers use the option that gives them the lowest overall tax.

You may qualify to receive the Child Tax Credit (CTC), or receive additional Child Tax Credit, for 2021, but you need to file a 2021 income tax return to claim the credit.