Here’s the 411 on who can deduct car expenses on their tax returns
IRS Tax Reform Tax Tip 2019-100, July 29, 2019 Taxpayers who have deducted the business use of their car on past tax returns should review whether or not they can still claim this deduction. Some taxpayers can. Some cannot. Here’s a breakdown of which taxpayers can claim this deduction when they file their tax returns. […]
Good tax planning includes good recordkeeping
IRS Tax Tip 2019-97, July 23, 2019 Tax planning should happen all year long, not just when someone is filing their tax return. An important part of tax planning is recordkeeping. Well-organized records make it easier for a taxpayer to prepare their tax return. It can also help provide answers if a taxpayer’s return is […]
Extension filers: Don’t panic, just go to IRS.gov for help…
IRS Tax Tip 2019-95, July 18, 2019 The deadline for taxpayers who requested an extension to file is going to be here before they know it. The deadline for these filers to submit their 2018 tax returns is Tuesday, October 15, 2019. Taxpayers who have not yet filed can find many helpful resources on IRS.gov. […]
6 Things to Do With Your Money Once Your Salary Reaches $70,000
by Mike Brassfield Senior Writer Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners. Remember overdrafting while you waited for your next paycheck to come — that was the worst, am I right? There’s not enough […]
It’s Getting Worse: The IRS Now Audits Poor Americans at About the Same Rate as the Top 1%
by Paul Kiel May 30, 10:16 a.m. EDT As the agency’s ability to audit the rich crumbles, its scrutiny of the poor has held steady in recent years. Meanwhile, a new study shows that audits of poor taxpayers make them far less likely to claim credits they might be entitled to. Every year, the IRS, starved of funds […]