Which is better, a tax credit or a tax deduction? The secret is in leveraging both to ease your tax burden. Before you start stumbling through your tax return, clear up any misconceptions about the differences and how both work to lower your tax liability and your tax rate in different ways.
How soon can I file my 2023 tax return? When is the deadline for filing a 2023 tax return with the IRS? What’s the deadline to file for a tax extension? Get the answers to these questions to get you through this tax season.
Nearly 70% of the individual taxpayers receiving penalty relief have income under $100,000 per year, The IRS said only those who owed less than $100,000 in back taxes for specific tax years 2020 and 2021 would see such relief.
Student loan borrowers bummed out by the resumption of their bills this fall may be eligible for a break on their 2023 taxes. The student loan interest deduction allows qualifying borrowers to deduct up to $2,500 a year in interest paid on eligible private or federal education debt.
The estimated-tax filing process can be complicated, but it can be simplified. Here’s everything you need to know to calculate your taxes and file on time.