Scammers often claim to represent the IRS in order to steal Americans’ identities or money. You can better protect yourself by learning how to distinguish legitimate IRS communications from fraudulent messages or calls. As […]
From the taxes Tag
Americans of all ages with summer income from self-employment may need to pay estimated tax on a quarterly basis in order to avoid IRS penalties. Alternatively, if you have self-employment earnings but also work […]
Students and other young people who earn summer income, including gig economy and other self-employment income, should prepare now for potential federal tax obligations. In particular, minors and young adults with self-employment earnings (including […]
Here is an answer to one of the most common questions about the new over $600 1099-K rule. Why have I never gotten 1099-K forms from payment processors before? Prior to tax year 2022, […]
Here is an answer to another one of the most common questions about this new over $600 1099-K rule. When will I receive a 1099-K form if my payments exceed the threshold? Third-party payment […]
Here is an answer to one of the most common questions about this new over $600 1099-K rule. Do payments from friends and families (splitting a check, gifts, etc.) count toward the form 1099-K […]
A new IRS rule may affect millions of taxpayers who receive payments through third-party processors like PayPal, Venmo, Zelle and Square. The rule applies to payments for goods and services, including payments for independent […]
In recognition of the recent rise in gas prices, the IRS has announced an increase to the optional standard mileage rate for the second half of 2022. For January 1 through June 30 of […]
If you are making quarterly estimated tax payments to the IRS, the due date for the April 1 – May 31 quarter of the year is June 15th, 2022. If you are a U.S […]
Q: What happens if two different taxpayers claimed the CTC for the same qualifying child? A: In some cases, a child meets all the IRS tests to be a qualifying child for multiple taxpayers. […]
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