The Coronavirus Aid, Relief, and Economic Security (CARES) Act can help eligible taxpayers in need by providing favorable tax treatment for withdrawals from retirement plans and IRAs and allowing certain retirement plans to offer expanded loan options. Can I get
There is a new Form 1099-NEC, Nonemployee Compensation for business taxpayers who pay or receive nonemployee compensation. Starting in tax year 2020, payers must complete this form to report any payment of $600 or more to a payee. The new
Income-related documentation If you earned money send as a taxi driver, your Verifone or CMT metered statement for the tax year noted on your letter. as an Uber Driver, your Uber Tax Summary and all Forms 1099-K and 1099-MISC for the
Taxpayers who are interacting with the IRS have the right to finality. This right comes into play for taxpayers who are going through an audit. These taxpayers have the right to know when the IRS has finished the audit. This
Taxpayers who claim at least one child as their dependent on their tax return may be eligible to benefit from the child tax credit. It’s important for people who might qualify for this credit to review the eligibility rules to
Taxpayers have the right to appeal an IRS decision in an independent forum. This is one of ten basic rights — known collectively as the Taxpayer Bill of Rights — that all taxpayers have when dealing with the IRS. The IRS Office
Taxpayers have the right to challenge the IRS’s position and be heard. This is one of the Taxpayer Bill of Rights, which clearly outline the fundamental rights of every taxpayer. The IRS wants to make sure taxpayers know about their rights
Taxpayers have the right to pay no more than the correct amount of tax they owe. This is one of ten basic rights known collectively as the Taxpayer Bill of Rights. Taxpayers have the right to pay only the amount of
Now that fall is here and school has started, many teachers are dipping into their own pockets to buy classroom supplies. Doing this throughout the year can add up fast. Fortunately, eligible educators may be able to defray qualified expenses
All taxpayers have basic rights when filing taxes and dealing with the IRS. This tip is one in a series that outlines the Taxpayer Bill of Rights, which groups the multiple existing rights in the nation’s tax law into 10 categories.