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Taxlete Today

The People's Tax Blog: Important tax news and information carefully curated to serve the needs of the average person.

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As a reminder, MyTaxRights.org is not affiliated, associated, authorized, endorsed by, or in any way officially connected with any government entity. External links are provided solely for convenience and informational purposes only. Always check the official government source for the latest information and updates.

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These two tax credits help offset the costs of higher education

Aug 27, 20202 min read

These two tax credits help offset the costs of higher education

There are two tax credits available to help taxpayers save on the costs associated with higher education.

Friendly reminder: Unemployment compensation is taxable

Aug 19, 20202 min read

Friendly reminder: Unemployment compensation is taxable

Reminder: Unemployment compensation is taxable. Recipients should ensure the proper amount of tax has been withheld or otherwise set aside.

Did you know special tax credits are available to parents who adopt?

Aug 5, 20203 min read

Did you know special tax credits are available to parents who adopt?

Taxpayers who incur adoption expenses or who receive employer-provided adoption assistance may be entitled to special tax relief.

Reminder: Taxpayers must report tip income to the IRS, including cash tips

Aug 3, 20202 min read

Reminder: Taxpayers must report tip income to the IRS, including cash tips

Some taxpayers mistakenly believe they are not required to report their cash tips to the IRS, which can lead to a lot of tax trouble.

**Attention Teachers** You may be able to deduct money spent on school-related expenses

Jul 28, 20201 min read

**Attention Teachers** You may be able to deduct money spent on school-related expenses

Eligible teachers and other educators can deduct certain unreimbursed school-related expenses on their tax return next year.

Reminder, taxpayers should resume tax debt payments by July 15th

Jul 14, 20202 min read

Reminder, taxpayers should resume tax debt payments by July 15th

Taxpayers should resume their regularly scheduled tax debt payments by July 15th to avoid default and/or penalties.

Reminder: Social Security benefits may be taxable

Jul 9, 20202 min read

Reminder: Social Security benefits may be taxable

Taxpayers who receive Social Security benefits may have to pay federal income tax on a portion of their benefits.

Use this IRS tool to check whether your charitable donations are tax deductible

Jul 1, 20201 min read

Use this IRS tool to check whether your charitable donations are tax deductible

Taxpayers can use the IRS's Tax Exempt Organization Search (TEOS) tool to check whether their charitable donations are tax deductible.

Individuals who work in the "gig economy" should remember these tax tips

Jun 25, 20202 min read

Individuals who work in the "gig economy" should remember these tax tips

Gig economy workers should ensure they are paying the right amount of taxes throughout the year to avoid an unexpected tax debt.

Be sure to keep your Economic Impact Payment letter (Notice 1444)

Jun 23, 20201 min read

Be sure to keep your Economic Impact Payment letter (Notice 1444)

Be sure to keep your Economic Impact Payment notice letter with your tax records.

Individuals may request coronavirus-related withdrawals from IRAs without 10% tax penalty

Jun 12, 20202 min read

Individuals may request coronavirus-related withdrawals from IRAs without 10% tax penalty

Individuals may request coronavirus-related withdrawals from IRAs without 10% tax penalty.

Employers can receive tax credits for granting paid leave to employees affected by COVID-19

May 29, 20202 min read

Employers can receive tax credits for granting paid leave to employees affected by COVID-19

Employers can receive tax credits for granting paid sick leave or paid family leave to employees affected by COVID-19.

The Employee Retention Credit encourages businesses to keep employees on the payroll

May 27, 20202 min read

The Employee Retention Credit encourages businesses to keep employees on the payroll

The Employee Retention Credit encourages businesses to keep employees on their payroll. Click to learn more.

Taxpayers have the right to challenge the IRS’s position regarding their taxes

May 22, 20202 min read

Taxpayers have the right to challenge the IRS’s position regarding their taxes

Taxpayers have the right to challenge the IRS’s position and to be heard by the agency regarding their taxes.

IRS unveils new People First Initiative

May 20, 20205 min read

IRS unveils new People First Initiative

Learn more about several of the IRS's relief measures aimed at assisting taxpayers affected by the COVID-19 pandemic.

The IRS changes how it handles audits and exams in response to the COVID-19 pandemic

May 18, 20202 min read

The IRS changes how it handles audits and exams in response to the COVID-19 pandemic

The IRS has temporarily changed its handling of audits and exams in response to the COVID-19 pandemic. Here is what you need to know.

Why your 2020 stimulus payment amount may be different than expected

May 15, 20205 min read

Why your 2020 stimulus payment amount may be different than expected

Learn about common scenarios that may explain why the amount of your stimulus payment was different than you expected.

Taxpayers need to be on the lookout for scams related to COVID-19

May 14, 20202 min read

Taxpayers need to be on the lookout for scams related to COVID-19

Taxpayers should be on the lookout for IRS impersonation calls and email phishing attempts about the COVID-19 Economic impact Payments.

Taxpayers can suspend payments under an IRS Installment Agreement through July 15th

May 13, 20202 min read

Taxpayers can suspend payments under an IRS Installment Agreement through July 15th

Taxpayers have the option to suspend IRS installment agreement payments through July 15th.

What people should know about the Economic Impact Payments (aka the 2020 Stimulus Checks)

May 12, 20202 min read

What people should know about the Economic Impact Payments (aka the 2020 Stimulus Checks)

Here are the IRS's answers to some of the most common questions about the Economic Impact Payments (aka the 2020 Stimulus Checks).

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