An official website of the U.S. Gov An official website of the U.S. GovThese tax resources can help you gather the documents you need to prepare before you complete your taxes. The IRS will generally opens the filing season at the end of January. For updated dates view Filing Season Resources.
Need help filing your federal tax return? Start with these easy steps to find a tax preparer that’s right for you.
If it sounds too good to be true, then it probably is. Unscrupulous promoters are aggressively advertising on social media telling taxpayers that they are entitled to free money from the IRS. The IRS has received thousands of claims where it appears taxpayers are claiming credits for which they are not eligible, leading to significant refund delays. The IRS will freeze refunds for questionable claims and send the taxpayers at least one letter in response. Taxpayers will generally receive a letter asking them to verify their identity. They may also receive a letter seeking additional documentation to show they qualify for the credits claimed on the return. To avoid hefty penalties and potential follow-up action by the IRS, taxpayers who incorrectly claimed credits must promptly amend their returns to remove the questionable credit.
As part of its ongoing Employee Retention Credit compliance work, the IRS announced on August 15, 2024, that they will be sending up to 30,000 Employee Retention Credit (ERC) recapture letters throughout the fall months. These Letters 6577-C, Employee Retention Credit (ERC) Recapture, represent more than $1 billion in claims, mostly for tax year 2021. They notify business taxpayers that the IRS is reversing or recapturing their previous ERC credit.
The Inflation Reduction Act of 2022 amended the credits available for energy efficient home improvements and residential clean energy property. Here are some tips to help you determine if you’re eligible for the energy efficient home improvement credit.
For property that is ready for use (also referred to as placed in service) from 2023-2032, this credit is available for energy efficient home improvements. It is a nonrefundable credit that can reduce or eliminate the amount of tax you owe. The credit cannot be refunded.
The Taxpayer Advocate Service shares steps to help you file a claim for credit or refund before its statute expiration date.
If you receive a substantial amount of non-wage income like self-employment income, investment income, taxable Social Security benefits, or pension and annuity income, you should make quarterly estimated tax payments. Log in to your online account to make a payment online or go to IRS.gov/payments.
An Employer Identification Number (EIN) is a 9-digit number (for example, 12-3456789) assigned to sole proprietors, corporations, partnerships, estates, trusts, and other entities for tax filing and reporting purposes. Most businesses are required to have an EIN. You may apply for an EIN for free through the IRS and will be issued your EIN immediately.
Got a tax bill for your federal tax return? One of the best tools you can use to manage your tax account is an . When you establish your online account, you have access to your notices, account information, transcripts, and you can obtain useful information to help keep you current on your tax obligations. If you receive a tax bill, we have several resources to help you resolve it.Is the amount due on the tax bill accurate?
