Taxpayers with children may qualify to claim the child credit. But your child must meet certain requirements, including being under the age of 17. If the child doesn’t meet the requirements, you may be...

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The IRS sends notices or letters to taxpayers for a variety of reasons. According to the agency, it sends out these communiques because the taxpayer has a balance due or is due a larger...

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Did you request an automatic six-month extension to file your 2018 tax return? If so, time’s running out. For most extended filers, the deadline is Tuesday, Oct. 15. Special rules apply to members of...

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The IRS has issued final regs on the 100% additional first-year depreciation deduction. It allows businesses to write off most depreciable business assets in the year they’re placed in service. Changes from the regs...

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School’s back in session. For many parents and students in higher education, that means school bills are also back. To help offset those costs, eligible taxpayers who are footing the bills may be able...

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Do you owe estimated taxes? If so, don’t miss the Sept. 16 due date for the third installment of 2019 federal taxes due. Those who have taxable income that isn’t subject to withholding, such...

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A portion of ancestry genetic testing qualifies as medical care, the IRS has stated, and thus some of the costs may be deductible. In a Private Letter Ruling, the IRS allowed a taxpayer to...

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The IRS announced it has detected a new phishing scam involving unsolicited emails from IRS imposters. Subject lines on the phony emails include “Automatic Income Tax Reminder” or “Electronic Tax Return Reminder.” However, the...

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Business owners and self-employed persons who use their cars for business may be able to deduct car expenses, the IRS reminds us. But if a car is used both for business and personal purposes,...

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“Summer is a season when people have fun, yet get things done,” the IRS said in a recent “Tax Tip.” Now that the standard deduction is so high, fewer taxpayers itemize deductions. But if...

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