Home Energy Credits Save Money and Cut Taxes
You can trim your taxes and save on your energy bills with certain home improvements. Here are some key facts to know about home energy tax credits:
Deciding Whether to Itemize or Use the Standard Deduction
Most people claim the standard deduction when they file their federal tax return, but you may be able to lower your tax bill if you itemize. You can find out which way saves you the most by figuring your taxes both ways. The IRS offers these six tips to help you choose:
Here’s What You Need to Do with Your Form 1095-B
This year, you may receive one or more forms that provide information about your 2015 health coverage you had in 2015. These forms are 1095-A, 1095-B and 1095-C. This tip is part of a series that answers your questions about these forms.
Self Employed? Check Out These IRS Tax Tips
If you are self-employed, you normally carry on a trade or business. Sole proprietors and independent contractors are two types of self-employment. If this applies to you, there are a few basic things you should know about how your income affects your federal tax return. Here are six important tips from the IRS:
Change Your Name? It Can Affect Your Taxes
A name change can have an impact on your taxes. All the names on your tax return must match Social Security Administration records. A name mismatch can delay your refund. Here’s what you should know if you changed your name:
IRS to Parents: Don’t Miss Out on These Tax Savers
Children may help reduce the amount of taxes owed for the year. If you’re a parent, here are several tax benefits you should look for when you file your federal tax return:
Choosing the Correct Filing Status
It’s important to use the right filing status when you file your tax return. The status you choose can affect the amount of tax you owe for the year. It may even determine if you must file a tax return. Keep in mind that your marital status on Dec. 31 is your status for the…
8 Things ALEs Should Know about Information Reporting and Health Coverage Offers
The Affordable Care Act requires applicable large employers to file information reporting returns with the IRS and employees. ALEs are generally those employers with 50 or more full-time employees, including full-time equivalent employees in the preceding calendar year.
Understanding the Different Types of 2015 Transition Relief under the Employer Shared Responsibility Provisions
Under the Affordable Care Act, certain employers – called applicable large employers – are subject to the employer shared responsibility provisions. If you are an ALE, you may choose to offer affordable minimum essential coverage that provides minimum value to your full-time employees – and minimum essential coverage to your full-time employees’ dependents – or,…
Get to Know Your Taxpayer Bill of Rights
Every taxpayer has a set of fundamental rights. The “Taxpayer Bill of Rights” takes the many existing rights in the tax code and groups them into 10 categories. You should be aware of these rights when you interact with the IRS.
