The Internal Revenue Service (IRS) and Treasury issue guidance for students with discharged student loans as well as their creditors. More people with discharged student loans can now receive tax relief with the newly issued Revenue Procedure 2020-11 (PDF) guidance in…
For the 2020 tax filing season, the Internal Revenue Services (IRS) facilitates taxpayers in the United States to pay their taxes free with IRS Free File. With this facility, most of the taxpayers can early start to file and pay…
IRS New Economy Tax Center; The Internal Revenue Service (IRS) launched a brand new Gig Economy Tax Center on its official website. The purpose to launch new IRS Gig Economy Tax Center is to help taxpayers to meet their tax obligations…
Receive Fastest Federal Tax Refund; The Internal Revenue Service (IRS) is all in action in making necessary reminders to the taxpayers throughout United States as the taxation season approaches. In a series of reminder, the IRS reminds all taxpayers to…
Married Filing Jointly v/s Married Filing Separately; If you are a married individual and wants to file your tax returns in the United States, the option to file one or two tax returns is available each year. Due to the…
2019-2020 Federal Income Tax Brackets & Tax Rates; In the United States, the Internal Revenue Service (IRS) is responsible to carry out the functions of federal tax returns. A progressive tax system is applied by the IRS which means that…
IRS Tax filing season 2020; The Internal Revenue Service (IRS) announces the final date to file your 2019 taxes as individual filer in the United States. The 2019 tax season will start in USA on Monday, 27th January 2020 for…
The Internal Revenue Service (IRS) updates the 2020 optional standard mileage rates for the taxpayers and tax professionals throughout United States. These rates will be used in the year 2020 for the calculation of the deductible costs of operating an…
The Earned Income Tax Credit (EITC) is one of the tax credits in USA that is particularly meant for moderate-income families and taxpayers. Earned Income Tax Credit is refundable and it can reduce the tax liability of taxpayers if their…
How my year-end bonus is taxed? This is the most common query among the employee sector in USA, now-a-days. Most likely, your income tax is withheld from your paycheck if you work as an employee. However, at the time when…