What Should I do with an IRS Letter?

The IRS sends many types of letters. Some IRS letters don’t require any action on your part while other letters do require action and have deadlines. IRS letters shouldn’t cause alarm, but IRS deadlines should not be taken lightly.  In this article, find out what you need to do when you receive an IRS letter.…

Read More

When can I deduct travel expenses on my federal tax return?

Before the Tax Cuts and Job Act of 2017, many more Americans were able to deduct travel expenses on their federal tax return. But after that act went into effect, employees could not deduct travel expenses for work (or any expenses for work on their federal tax return). However, some taxpayers can deduct travel expenses…

Read More

What Tax Breaks End in 2021?

Parts of the tax code are scheduled to end nearly every year. Some of these provisions are extended, and sometimes they are extended retroactively. Find out which tax code provisions ended Dec. 21, 2021, unless Congress passes legislation to extend them and the president signs the legislation into law.  There are indications that legislation may…

Read More

What is Earned Income Tax Credit (EITC)

The Earned Income Tax Credit or EITC is a benefit for working people with low to moderate income. To qualify, you must meet certain requirements. You must also file a tax return even if you don’t owe any taxes or are not required to file. The EITC reduces the taxes you owe and may even…

Read More

What documents do I need for the 2022 tax season?

Whether or not we have a tax professional, most of us would like to make sure we have everything we need once we get started. This list will cover the basics and highlight some newer items to consider for the 2022 tax season.  Receipts or proofs of payment needed to support deductions or credits Start…

Read More