Five Tax Tips on Unemployment Benefits

IRS Tax Tip 2017-25, March 7, 2017 Taxpayers who received unemployment benefits need to remember that it may be taxable. Here are five key facts about unemployment: Unemployment is Taxable. Include all unemployment compensation as income for the year. Taxpayers should...

Itemize or Choose the Standard Deduction

Most taxpayers claim the standard deduction when they file their federal tax return. However, some filers may be able to lower their tax bill by itemizing. Find out which way saves the most money by figuring taxes both ways. The IRS offers the following six tips to...

Tax Benefits for Parents

Check Out These Tax Benefits for Parents Taxpayers with children may qualify for certain tax benefits. Parents should consider child-related tax benefits when filing their federal tax return: • Dependent. Most of the time, taxpayers can claim their child as a...

New Due Dates

W-2 & 1099’s: New Due Date: Jan. 31, 2017 Information must be submitted by: Jan. 9, 2017 Partnership Form 1065: New Due Date: March 15, 2017 Corporate Tax Form 1120: New due date: April 15th Corporate Tax Form 1120S: Stayed the same – Due March 15th...

Where’s My Refund?

The IRS expects to issue more than nine out of 10 refunds in less than 21 days. However, the Protecting Americans from Tax Hikes (PATH) Act mandates the IRS hold refunds on tax returns claiming the EITC or the Additional Child Tax Credit (ACTC) until mid-February. The...