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.
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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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MyTaxRights
- Aug 19, 2020
- 2 min
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.
Lars Kroner
- Aug 5, 2020
- 3 min
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.
Lars Kroner
- Aug 3, 2020
- 2 min
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.
Lars Kroner
- Jul 28, 2020
- 1 min
**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.
Lars Kroner
- Jul 14, 2020
- 2 min
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.
Lars Kroner
- Jul 9, 2020
- 2 min
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.
MyTaxRights
- Jul 1, 2020
- 1 min
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.
Lars Kroner
- Jun 25, 2020
- 2 min
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.
Lars Kroner
- Jun 23, 2020
- 1 min
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.
MyTaxRights
- Jun 12, 2020
- 2 min
Individuals may request coronavirus-related withdrawals from IRAs without 10% tax penalty
Individuals may request coronavirus-related withdrawals from IRAs without 10% tax penalty.
Lars Kroner
- May 29, 2020
- 2 min
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.
Lars Kroner
- May 27, 2020
- 2 min
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.
Lars Kroner
- May 22, 2020
- 2 min
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.
Lars Kroner
- May 20, 2020
- 5 min
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.
Lars Kroner
- May 18, 2020
- 2 min
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.
Lars Kroner
- May 15, 2020
- 5 min
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.
Lars Kroner
- May 14, 2020
- 2 min
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.
MyTaxRights
- May 13, 2020
- 2 min
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.
MyTaxRights
- May 12, 2020
- 2 min
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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