A tax credit is an incentive that lets a taxpayer reduce the total amount of tax owed. Find out which tax credits are available to you.
Here’s what to know about records to hang on to and how long you should keep them.
Taxpayers can follow their refund online, by phone or with a smartphone app.
A new IRS form helps you figure tax withholding from your paycheck. But it’s not easy.
The IRS issued more than 111 million refunds last year. Here’s how much money was refunded.
Expenses paid with a flexible spending account can’t be claimed for the child care credit.
If you got some extra cash in your paycheck last year, then you benefitted from the making work pay tax credit.
Don’t let childrearing chores interfere with your retirement security.
Federal tax credits are reduced, but can still lighten the cost of your home solar system.
Claiming the Making Work Pay credit requires more tax paperwork, such as filling out Schedule M.
Small business employers can get health insurance tax credit, if they qualify.
You can take an exemption for yourself, your spouse and each dependent you claim.
You lose the separation-from-service exception to avoid a tax penalty if you roll over funds to an IRA.
You can take some steps to minimize your tax bill should Congress decide not to extend the tax cuts.
It’s more profitable for business owners to hire a CPA who can provide alternative tax strategies.