IRS information for recipients of the Advance Child Tax Credit and the third round of Economic Impact Payments

WASHINGTON — The Internal Revenue Service announced today that it will issue information letters to Advance Child Tax Credit recipients starting in December and to recipients of the

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Tax benefits help charities in 2021

Expanded tax benefits help individuals and businesses give to charity in 2021. Recent legislation includes several provisions to help individuals and businesses who give to charity. The new

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Taxpayers who aren’t eligible for the child tax credit should look into the credit for other dependents

The credit for other dependents is a tax credit available to taxpayers for each of their qualifying dependents who can’t be claimed for the child tax credit. The

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IRS reminds business owners to correctly identify workers as employees or independent contractors

WASHINGTON — During National Small Business Week, the Internal Revenue Service reminds business owners that it’s critical to correctly determine whether the individuals providing services are employees or independent

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Small business owners should see if they qualify for the home office deduction

Here are some things to help taxpayers understand the home office deduction and whether they can claim it: Employees are not eligible to claim the home office deduction.

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Understanding the tax responsibilities that come with starting a business

Small business owners have a variety of tax responsibilities. The IRS knows that understanding and meeting tax obligations is vital to the success of all businesses, especially a new

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Here’s how taxpayers can rebuild records after a natural disaster

We always hope that a natural disaster does not happen to us, but have you made preparation in the event you experience one? Here’s how taxpayers can rebuild

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What people should and should not do if they get mail from the IRS

Every year the IRS mails letters or notices to taxpayers for many different reasons. Typically, it’s about a specific issue with a taxpayer’s federal tax return or tax

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Take charge of your Child Tax Credit payments: How to use the IRS update portal to sign up for direct deposit, change accounts or stop all payments

Need to update direct deposit information? Many families are asking how they can change the bank account where they get their monthly Child Tax Credit payment. First, families

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Self-supporting college students may qualify for an Economic Impact Payment

Any eligible self-supporting college student who doesn’t need to file a tax return should register using the Non-Filers tool by 3:00 p.m. ET November 21 to receive an Economic Impact Payment before

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