Tag Archives: taxes

Four Things You Should Know if You Barter

Here are four facts about bartering: 1. Barter exchange. A barter exchange is an organized marketplace where members barter products or services. Some exchanges operate out of an office and other over the Internet. All barter exchanges are required to … Continue reading

Posted in General | Tagged , , , , , , , , | Leave a comment

If You Receive an IRS Notice, Here’s What to Do

Each year the IRS sends millions of letters and notices to taxpayers. Although some people may feel anxious when they receive one, many are easy to resolve. Here’s what to do if you receive a letter or notice from the … Continue reading

Posted in General | Tagged , , , , | Leave a comment

Eight Tips for Taxpayers Who Owe Taxes

While most taxpayers get a refund from the IRS when they file their taxes, some do not. The IRS offers several payment options for those who owe taxes. Here are eight tips for those who owe federal taxes. 1. Tax bill … Continue reading

Posted in General | Tagged , , , , , | Leave a comment

Simplified Option for Home Office Deduction

  Do you work from home? If so, you may be familiar with the home office deduction, available for taxpayers who use their home for business. Beginning this year, there is a new, simpler option to figure the business use … Continue reading

Posted in General | Tagged , , , , | Leave a comment

Keep Tax and Financial Records Safe in Case of a Natural Disaster

Hurricanes, tornadoes, floods and other natural disasters are more common in the summer. The IRS encourages you to take a few simple steps to protect your tax and financial records in case a disaster strikes. Here are five tips from … Continue reading

Posted in General | Tagged , , , , | Leave a comment

What Taxpayers Should Know about Identity Theft and Taxes

Protecting taxpayers and their tax refunds from identity theft is a top priority for the IRS. This year the IRS expanded its efforts to better protect taxpayers and help victims dealing with this difficult issue. When your personal information is … Continue reading

Posted in General | Tagged , , , | Leave a comment

Determining Your Correct Filing Status

It’s important to use the correct filing status when filing your income tax return. It can impact the tax benefits you receive, the amount of your standard deduction and the amount of taxes you pay. It may even impact whether … Continue reading

Posted in General | Tagged , , , , | Leave a comment

Taxable and Nontaxable Income

Most types of income are taxable, but some are not. Income can include money, property or services that you receive. Here are some examples of income that are usually not taxable: Child support payments; Gifts, bequests and inheritances; Welfare benefits; … Continue reading

Posted in General | Tagged , , , , | Leave a comment

Five Good Reasons to E-file Your Tax Return

If you haven’t tried IRS e-file before, now is the time. Most taxpayers – more than 80 percent – file electronically. The IRS has processed more than 1 billion individual tax returns safely and securely since the nationwide debut of … Continue reading

Posted in General | Tagged , , | Leave a comment

IRS Strengthens Integrity of ITIN System; Revised Application Procedures in Effect for Upcoming Filing Season

WASHINGTON –– The Internal Revenue Service announced today updated procedures to strengthen the Individual Taxpayer Identification Number (ITIN) program requirements. The new modifications and documentation standards further protect the integrity of the ITIN application and refund processes while helping minimize … Continue reading

Posted in General | Tagged , , | Leave a comment