Even though the tax filing deadline for tax year 2025 passed a couple weeks ago, it’s not too early to start planning for next filing season. Planning now can help taxpayers avoid surprises next year. One action that can be taken is checking for proper tax...
Treasury and IRS recently issued final regulations on the “No Tax on Tips” deduction. These regulations list more than 70 occupations from tipped workers, to bartenders and water taxi operators. Qualified tips must meet these requirements: Must be received from...
Not everyone is legally required to file a federal tax return. However, not doing it could be leaving money on the table. People could be missing out on refundable tax credits or an income tax refund. This could apply to someone if they: Have had federal income tax...