Do you make money from a hobby? If so, you have taxable income that must be reported on your tax return. A taxpayer who engages in an activity for sport or recreation is considered...

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An IRS tool makes completing the Free Application for Federal Student Aid (FAFSA) form easier. In a tax tip, the IRS is advising college students and their families that, when filling out the FAFSA...

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Do you work for tips? Generally, income received as tips is taxable. This includes gratuities received directly from customers, added to credit cards, and received from tip-splitting agreements with other employees. Employees who receive...

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Here’s a reminder that the IRS will soon end two services in an effort to protect taxpayers from identity theft. The tax agency announced it will stop its tax transcript faxing service on June...

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The IRS is accepting renewal applications for Individual Taxpayer Identification Numbers (ITINs) that will expire by the end of the year. Affected taxpayers should submit renewal applications as soon as possible to avoid an...

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The “Taxpayer First Act” passed by a voice vote on June 13. The bill includes provisions to improve customer service and enhance taxpayers’ rights. In addition, it contains provisions to protect personal data in...

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To enhance security, the IRS will soon end some taxpayer services. Currently, taxpayers who need transcripts (summaries) of their filed tax returns can request them from the IRS. Third parties, such as lenders or...

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Do you work multiple jobs or are you adding a summer job this year? The IRS suggests that you conduct a “paycheck checkup” to learn if you’re having the right amount of tax withheld...

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On May 23, U.S. House lawmakers overwhelmingly approved a retirement bill, the “Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019.” The vote was 417-3. The bill provides incentives for retirement security...

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The Treasury Department’s Office of Tax Policy has published a research report of interest to families. “Tax Support for Families under Current Law” discusses major tax provisions that support typical families, the number of...

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