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IRS Says You Can Still Claim One Type of Stimulus Money This Tax Filing Season

March 6, 2023

The stimulus relief authorized by the American Rescue Plan Act that the IRS explained is still available in 2022 relates to a specific kind of tax credit that was expanded by the COVID-19 legislation. Taxpayers may still qualify for temporarily expanded eligibility of the Premium Tax Credit.

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3 IRS Deductions You Can’t Take This Year, Experts Warn

February 13, 2023

Before you file, you'll want to be aware of any changes for the 2023 tax season. Experts warn that there are a few key deductions you can't take this year—which could affect what your refund adds up to. There are also a few updates to tax credits as well. CLICK ON THE HEADLINE FOR MORE

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Stimulus Check Update: President Biden Feels Strongly About Providing This Stimulus Money In 2022

January 24, 2022

President Biden just spoke about a wide range of issues including legislation he would like to see passed by Congress in 2022. He referred to both the Child Tax Credit and the Community College Plan as "massive things" but wasn't sure he'd be able to get either a credit extension or his community college plan into the Build Back Better legislation. CLICK ON THE HEADLINE FOR MORE

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Unemployment Benefits Were Tax-Free In 2020. Don’t Expect That In 2021

July 26, 2021

It's unlikely that lawmakers will decide to let those collecting jobless benefits in 2021 forego paying taxes. Anyone receiving those benefits now should plan to pay the IRS a portion of that money. CLICK ON THE HEADLINE FOR MORE

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Stimulus Check Update: Homeowners Could Be Entitled To More Money

June 21, 2021

If you're a homeowner, you may not have to wait for a fourth stimulus check to get your hands on more government money. CLICK ON THE HEADLINE TO FIND OUT IF YOU'RE ELIGIBLE.

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May 17th Was Tax Day And The Tax Extension Deadline: What To Know About Filing Late, IRS Penalties

May 17, 2021

Tax Day was Monday, May 17th! Here are some things to know if you filed an extension. CLICK ON THE HEADLINE FOR MORE

Recent Posts

When Will IRS Accept, Start Processing 2024 Tax Returns? Official Date AnnouncedJanuary 13, 2025 - 7:33 pm
This tax season, taxpayers will also have better access to their tax account information via new text and voice virtual assistants, expanded features on the IRS Individual Online Account, mobile access to numerous tax forms, and more alerts to combat scams targeting taxpayers.
Top Tax Write-Offs for Small Businesses And Self-Employed Workers In 2024January 6, 2025 - 8:24 pm
While you usually need to pay upfront for equipment, employee salaries, and other business expenses, the ability to write off these costs on your federal tax return reduces the amount of income tax you owe. These tax deductions, offer significant advantages for small businesses and independent contractors.
Tax Season Is A Month Away. Review This Year Tax Checklist To PrepareDecember 30, 2024 - 6:25 pm
There are end-of-the-year tax tips that can set you up for the upcoming tax season. It’s worth taking the time now to review your tax situation, as a little effort now could pay off big later.
A Week Left to Spend Your 2024 Flexible Spending Account Money: How It Works And What You Can BuyDecember 23, 2024 - 11:18 pm
If you’re headed into the end of 2024 with a large FSA balance, don’t worry. A long list of items and health services are FSA eligible, including several you may not have considered.
Survey: 44% of Americans Believe Their Finances Will Improve In 2025, An Increase Ffrom Previous YearsDecember 16, 2024 - 9:09 pm
There’s at least one clear reason for 2025 financial optimism: Fewer Americans think inflation will impact them. Regardless of what’s anticipated, financial experts recommend “future-proofing” your finances, and the New Year is a great opportunity to get ahead.
25 Financial Moves To Consider Making Before December 31stDecember 9, 2024 - 7:48 pm
It’s worth focusing on practical financial strategies to consider before the end of the year. It will also help lay the groundwork for a financially successful year ahead.
This Charitable Giving Strategy ‘Almost Always’ Provides The Biggest Tax Break, Advisor SaysDecember 2, 2024 - 10:39 pm
Qualified charitable distributions, or QCDs, are direct transfers from an individual retirement account to a non-profit organization. Additionally, retirees can give more in 2024, according to the IRS. Financial experts say this is a key move to maximize a tax break.
Tax Deductions 2024: What Can I Deduct and How Do They Work?November 25, 2024 - 7:31 pm
The Internal Revenue Service offers scores of deductions to help you keep more of your earnings in your pocket. With a filing deadline of April 15, 2025, here’s what you need to know about deductions for tax year 2024.