Is your federal tax information (FTI) confidential? Federal tax law permits the IRS to share your FTI with other entities such as state and local tax agencies. Safeguards are in place against the misuse...

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Most of us welcome tax credits. But do you know the difference between a nonrefundable tax credit and a refundable tax credit? A nonrefundable tax credit reduces your tax bill dollar for dollar, but...

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Business tax account (BTA) is an IRS online portal for eligible business taxpayers. With enhancements made possible by funding from the Inflation Reduction Act, companies can use BTA to pay Federal Tax Deposits and...

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Despite the IRS’s efforts to reduce tax-related fraud, fraudulent activity is on the rise. Enter the Coalition Against Scam and Scheme Threats (CASST). This new initiative is made up of the IRS, state tax...

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If you incur daycare expenses for children or other dependents, you may qualify for a tax credit. The Child and Dependent Care Credit is available for expenses that allow you or your spouse to...

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Summer is winding down and a new school year is ramping up. Teachers and other educators have been working hard to prepare their classrooms before the new year begins. Qualified educators can deduct up...

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Students will soon be heading off to college or trade school. Higher education is expensive, but taxpayers who take post-high school coursework in 2024 (or who have dependents taking such courses) may qualify for...

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With hurricane and tropical storm season here, it’s a good time to review possible tax relief for victims. The IRS offers several types of tax relief for individuals and businesses affected by hurricanes or...

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If you requested an extension to file your tax return after the April 15, 2024, due date, the new deadline is coming up soon on Oct. 15. If you have the information you need,...

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If your summer chore list includes cleaning out the garage and closets, you might have items to donate to a local charity. That’s not only generous, it might lead to tax savings (if you...

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