Claiming the Credit on Your Federal Tax Return
For any tax year, if you receive advance credit payments in any amount or if you plan to claim the premium tax credit, you must file a federal income tax…
Read moreThe Premium Tax Credit
Basic Information Starting in 2014, if you get your health insurance coverage through the Health Insurance Marketplace, you may be eligible for the Premium Tax Credit. This tax credit can…
Read moreThree Year-End Tax Tips to Help You Save
Although the year is almost over, you still have time to take steps that can lower your 2013 taxes. Now is a good time to prepare for the upcoming tax…
Read more2014 Tax Season to Open Jan. 31
The Internal Revenue Service today announced plans to open the 2014 filing season on Jan. 31 The new opening date for individuals to file their 2013 tax returns will allow…
Read moreIRS Warns of Pervasive Telephone Scam
The Internal Revenue Service today warned consumers about a sophisticated phone scam targeting taxpayers, including recent immigrants, throughout the country. Victims are told they owe money to the IRS and…
Read moreInstant Tax Service Closed by U.S. Judge for Fraudulent Practices
(Bloomberg) Instant Tax Service, described by a U.S. judge as the fourth-biggest tax preparation business in the nation, was ordered closed after a court found it engaged in abusive and…
Read moreIRS Announces 2014 Pension Plan Limitations; Taxpayers May Contribute up to $17,500 to their 401(k) plans in 2014
WASHINGTON — The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2014. Some pension limitations such…
Read moreIn 2014, Various Tax Benefits Increase Due to Inflation Adjustments
WASHINGTON — For tax year 2014, the Internal Revenue Service announced today annual inflation adjustments for more than 40 tax provisions, including the tax rate schedules, and other tax changes.…
Read moreHome Office Deduction
Home Office Deduction If you use part of your home for business, you may be able to deduct expenses for the business use of your home. The home office deduction…
Read moreReminder: Oct. 15 Tax Deadline Remains During Appropriations Lapse
WASHINGTON — The Internal Revenue Service today reminded taxpayers that the Oct. 15 deadline remains in effect for people who requested a six-month extension to file their tax return. The…
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