Monday, April 18, 2022, was the tax deadline for most taxpayers to file their tax returns, but if you haven’t filed a 2021 tax return yet, it’s not too late. Here’s what you need to do: First, gather any information related to...
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Taxpayers should file their tax returns by the deadline even if they cannot pay the total amount due, but if you can’t, there are several options.
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If you haven’t contributed funds to an Individual Retirement Account (IRA) for tax year 2021, or if you’ve put in less than the maximum allowed, you still have time to do so. You can contribute to either a traditional or Roth IRA...
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Monday, January 24, 2022, was the official start to this year’s tax season. By now, everyone should have received most of the information they need to make sure they file a complete and accurate return.
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If you’ve gathered your tax documents and are ready to tackle your tax return, there’s one more step you should take: becoming familiar with what’s new on the 2021 Form 1040. While the format of Form 1040 and its schedules...
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Every year, it’s a sure bet that there will be changes to current tax law, and this year is no different. From standard deductions to health savings accounts and tax rate schedules, here’s a checklist of tax changes to help you plan...
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As we close out the year and get ready for tax season, here’s what individuals and families need to know about tax provisions for 2021. Personal ExemptionsPersonal exemptions are eliminated for tax years 2018 through 2025. Standard...
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Taxpayers should always protect themselves from scammers who pretend to be from the IRS by understanding how the IRS communicates with them.
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If you’re looking to sell your home this year, then it may be time to take a closer look at the exclusion rules and cost basis of your home to reduce your taxable gain on the sale of a home. The IRS home sale exclusion rule allows an...
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