You can write off up to $7430: How the Earned Income Tax Credit Works

Tax season has officially begun, and the Internal Revenue Service (IRS) is urging tax filers to check if they qualify for one of the most commonly overlooked tax breaks, AL reports. The Earned Income Tax Credit (EITC) is a tax benefit for…

What happens if you do not pay taxes in the United States

The new tax season is approaching, and while most Americans are preparing to file their taxes, there are those who won't. People don't file tax returns for various reasons: a difficult divorce, death or illness of loved ones, and sometimes they just don't want to, thinking that...

How to get a transcript from the IRS so that you don't make mistakes on your return

Whether you're filing a simple or complex tax return, it's important to make sure it's thorough, and you can have free online tools in the form of IRS (Inland Revenue Service) transcripts to make the process easier. What it is…

Together or Separate: How to File Tax Returns for Couples Married in 2022

So, you said yes in 2022 - and now you are married. But this is where the questions begin. And one of them is how to file a tax return. USA Today tried to figure out who is more profitable to file a joint declaration, and who is an individual one. …

IRS publishes deductions and limits for next tax season: inflation hit numbers hard

The Internal Revenue Service (IRS) has issued dozens of inflation adjustments affecting personal income tax amounts, deductions and credits for 2023. As you might have guessed, the highest inflation in 40 years has led to significant jumps in these indicators, reports ...

The IRS has already sent millions of tax refunds for 2021: how much can you get

The IRS reported Feb. 4 that despite ongoing problems, the service has sent nearly $30 million in tax refunds worth about $103,2 billion, CNBC reported. While 29% of Americans worry about less reimbursement, according to a Bankrate poll, the average is currently…

Drug Trafficking, Bribery and Theft: IRS Requires Illegal Income Declaration

Did you hijack a car in 2021? Did you bribe? If you did, the IRS requires you to report it on your tax return, USAToday reports. These provisions went viral on December 27 after a tweet warning taxpayers about these ...

How to bring a large sum to Russia

It is no secret that many who live and work in the United States try to financially support their relatives and send money home. In case you decide to visit your relatives in Russia with a large amount of money yourself, here's what you need to know in order to ...

How to get free help filling out a tax return

The IRS reminds taxpayers of their right to get free help with preparing tax returns. This program (Volunteer Income Tax Assistance - VITA) is intended for people with an annual income of less than 54 US dollars, people with disabilities, the elderly and taxpayers who do not know much English ...

5 best tax return filing programs: an overview

Tax season preparations are in full swing, and if you have a laptop and an internet connection, you can use tax preparation software. It's even better if you are eligible for free tax services. Let's consider in detail ...

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