What is the Gig Economy? The gig economy—also called sharing economy or access economy—is activity where people earn income providing...

During Small Business Week, September 22-24, the Internal Revenue Service wants individuals to consider taking the home office deduction...

Millions of Americans received unemployment compensation in 2020, many of them for the first time. This compensation is taxable and must...

Choose direct deposit The safest, most accurate and fastest way to get a refund is to electronically file and choose direct deposit....

Q A1. I used the Non-Filers: Enter Payment Info Here tool last year and don’t usually file a tax return. What should I do to claim a...

The Earned Income Tax Credit (EITC) is one of the biggest tax breaks for working people. Working families with three or more qualifying...

The due dates for information returns, like Forms 1099-MISC and 1099-NEC help the IRS more easily detect refund fraud by verifying income...

Form 1099-NEC is a new form for tax year 2020 for nonemployee compensation of $600 or more to a payee. This form should be filed with the...

The IRS revised Form 1099-MISC for the 2020 tax year to accommodate the creation of a new Form 1099-NEC. The redesigned 1099-MISC has...

The Internal Revenue Service today reminded businesses and other payors that the revised Form 1099-MISC, Miscellaneous Income PDF, and...

In 2020, the IRS issued two Economic Impact Payments as part of the economic stimulus efforts. The first payments were up to $1,200...

The Internal Revenue Service today released Notice 2021-11 PDF addressing how employers who elected to defer certain employees' taxes can...

File electronically and use direct deposit for the quickest refunds. Check IRS.gov for the latest tax information, including the latest...

The filing season open follows IRS work to update its programming and test its systems to factor in the second Economic Impact Payments...

There are several important dates taxpayers should keep in mind for this year's filing season: January 15. IRS Free File opens. Taxpayers...

Standard Mileage Rates The standard mileage rate in 2020 is 57.5 cents per business mile driven. Health Care Tax Credit for Small...

Coverdell Education Savings Account You can contribute up to $2,000 a year to Coverdell savings accounts in 2020. These accounts can be...

Adoption Credit In 2020 a nonrefundable (i.e., only those with tax liability will benefit) credit of up to $14,300 is available for...

Personal Exemptions Personal exemptions are eliminated for tax years 2018 through 2025. Standard Deductions The standard deduction for...

The Internal Revenue Service wants working grandparents raising grandchildren to be aware of the Earned Income Tax Credit (EITC) and...