To help taxpayers, the IRS updated the special Withholding Calculator tool on IRS.gov to reflect changes in the Tax Cuts and Jobs Act passed in December.

Many taxpayers (especially those who are self-employed) make estimated tax payments either by mailing in vouchers with their payments or through the IRS' e-payment system at www.irs.gov. This video explains a little about these estimated payments ...

I posted last week about the "great news" that the IRS had extended legislation allowing Taxpayers to deduct items that were scheduled to expire the end of 2016.  Namely the keys ones are mortgage insurance premiums, certain energy efficiency improvements, and tuition and fees deduction.

Since the end of 2016 we have been waiting to find out if these "tax extenders" due to expire the end of 2016 were going to be ... extended. When the "Bipartisan Budget Act of 2018" was passed our questions were answered.  Many of these could apply to your 2017 tax return ...

Grandparents who work and are also raising grandchildren might benefit from the earned income tax credit. The IRS encourages these grandparents to find out, not guess, if they qualify for this credit. This is important because grandparents who care for children are often not aware that they could claim these children for the EITC.

Read the rest of this blog to find out more ....

The IRS urges Native American taxpayers to check if they qualify for the earned income tax credit since many workers in Tribal communities often overlook this credit.

EITC benefits Native Americans who meet basic rules. Taxpayers must have income from a job, be self-employed, or run their own business. This includes home-based businesses and work in the service industry, construction and farming.

Read More ....

Taxpayers with children may qualify for certain tax benefits. Parents should consider child-related tax benefits when filing their federal tax return:

There is a LOT of misinformation flying around about tax refund delays this year.  This post came out today from the IRS to tax professionals such as myself.  This should clear up some things; however, unfortunately some "delayed" refunds will not arrive in your bank account until around February 27th, per the IRS.

Refund restrictions that were put into place last year are coming back for 2018...

Here is some information about the Adoption Credit ...

This new tax reform results in lots of changes in the tax world. Check out my blog entries starting on January 12th to read all about the provisions of this sweeping legislation.

Many taxpayers have let their voices be heard over these past few years in regards to the penalty assessed to individuals not covered by qualifying health insurance ...

This new tax reform results in lots of changes in the tax world. Check out my blog entries starting on January 12th to read all about the provisions of this sweeping legislation.

This blog discusses the increase in the Child Tax Credit ...

Taxpayers who contribute to a retirement plan, like a 401(k) or an IRA, may be able to claim the Saver’s Credit. This credit can help a person save for retirement and reduce taxes at the same time.

Here are some key facts about the Retirement Savings Contributions Credit:

Taxpayers who have adopted or tried to adopt a child in 2016 may qualify for a tax credit. Here are some important things about the adoption credit:

Higher education costs paid in 2016 can mean tax savings when taxpayers file their tax returns. If taxpayers, their spouses or their dependents took post-high school coursework last year, they may be eligible for a tax credit or deduction.

Here are some facts from the IRS about tax benefits for higher education.

Taxpayers often have questions about Individual Retirement Arrangements, or IRAs. Common questions include: When can a person contribute, how does an IRA impact taxes, and what are other common rules.

The IRS offers the following tax tips on IRAs:

The IRS urges people not to overlook the Child and Dependent Care Tax Credit. Eligible taxpayers may be able claim it if they paid for someone to care for a child, dependent or spouse last year.

Taxpayers can use the IRS Interactive Tax Assistant tool, Am I Eligible to Claim the Child and Dependent Care Credit?, to help determine if they are eligible to claim the credit for expenses paid for the care of an individual to allow the taxpayer to work or look for work.

Other key points about this credit include:

If a lender cancels part or all of a debt, a taxpayer must generally consider this as income. However, the law allows an exclusion that may apply to homeowners who had their mortgage debt canceled in 2016.

Here are some tips about debt cancellation:

Taxpayers who made certain energy efficient improvements to their home last year may qualify for a tax credit this year. Here are some key facts to know about home energy tax credits:

The Child Tax Credit is a tax credit that may save taxpayers up to $1,000 for each eligible qualifying child. Taxpayers should make sure they qualify before they claim it ...