Tax tips for gig economy entrepreneurs and workers
In recent years, the gig economy has changed how people do business and provide services. Taxpayers must report their gig economy earnings on a tax return – whether they earned that money through a part-time, temporary or side gig. The IRS Gig Economy Tax Center provides information...
Can You Really Prepare and File Your Taxes for Free?
At tax time, you’re bombarded with ads for free tax returns. It’s everywhere – your TV, billboards, social media, and even the Super Bowl. Even if you’ve never tried online tax filing before, those “free free free” commercials have probably at least piqued your interest and left...
IRS completes automatic corrections of tax year 2020 accounts related to unemployment compensation exclusion
WASHINGTON – The Internal Revenue Service recently completed the final corrections of tax year 2020 accounts for taxpayers who overpaid their taxes on unemployment compensation they received in 2020. The American Rescue Plan Act of 2021, which became law in March 2021, excluded up...
5 Tips for a Stress-Free Tax Season
If you’re like most people, doing your taxes isn't your favorite activity. The good news is you only have to file once a year and if you follow our tips you can keep stress to a minimum. Here are 5 tips for a stress-free tax season. Start doing your taxes early Reports have...
How Can I Make My Taxes Easier?
Right now, you’re probably so caught up in the holiday hoopla that you haven’t even thought about your taxes. But the more you plan ahead for the season, the less stressful filing will be, so don’t wait until January to get started. Here are some things you can do now that will...
Important Steps to Take Before You File Your Taxes
It's almost time to start doing your taxes. To ensure things go smoothly, there are some important steps you need to take before you file. Gather your receipts and tax documents You can expect your W2s, most 1099s and 1098 forms to arrive by January 31st. If you plan to itemize,...
Top 4 Reasons to Join a 401(K) Plan
A 401(k) is one of the best ways to build your nest egg for retirement. Employees who sign up can have a portion of each paycheck automatically withdrawn and invested. Some employers even offer to match your contributions up to a certain amount. If you aren’t...
Before toasting the new year, taxpayers should review this to-do list
Whether they plan to stay up to greet the new year or go to bed early, taxpayers can get ready for 2023 by reviewing these common end-of-year tasks. People can always visit IRS' Get Ready webpage for info on filing their tax return. Here are a few things they should...
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