- 14 Sources of Tax-Free and Nontaxable Income
The IRS taxes most income unless explicitly stated otherwise. Here’s a breakdown of common types of tax-free income and key exceptions.
What Is Nontaxable Income?
Nontaxable income refers to money the IRS does not re…
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- Federal Tax Brackets and Income Tax Rates
The 2024 tax brackets determine the federal income tax rates based on your filing status and taxable income. The seven tax rates remain unchanged at 10%, 12%, 22%, 24%, 32%, 35%, and 37%, with inflation adjustments alte…
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- Tax Attorney: What They Do and How to Find One
Tax attorneys specialize in tax law, offering valuable assistance for complex tax issues like disputes, compliance, and estate planning. Here’s a concise guide to their role and how to hire one:
What Does a Tax Attorne…
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- What Is a 1099 Form?
A 1099 form is an IRS tax document used to report non-employment income. If you earn money from sources other than a regular employer, you'll likely receive a 1099. This form is essential for accurately filing your taxe…
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- What Is the 1040 Tax Form and How to Fill It Out
Form 1040 is the main tax form used by individuals in the U.S. to report income, claim deductions and credits, and calculate their tax refund or liability. Here's a breakdown:
1. What Is the 1040 Form?
Purpose: The "U…
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- Where's My Refund? Track Your IRS Refund Status
Here’s a step-by-step guide on tracking your federal and state tax refunds, understanding timelines, and avoiding delays.
1. Track Your Federal Refund Using "Where’s My Refund?"
What You Need to Check:
Social Security…
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- Tax Filing Guide
Tax filing can feel complex, but following these steps can help simplify the process:
1. Determine If You Need to File Taxes
Filing Requirements: Income, filing status, age, and dependent status determine whether you …
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- Popular Tax Deductions and Tax Breaks
Tax deductions and credits help reduce the amount of tax owed, but they work differently. Here's a guide to popular deductions, credits, and how they can benefit you.
1. Key Differences: Tax Deductions vs. Tax Credits
…
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- U.S. States With No Income Tax
Nine U.S. states do not levy a state income tax, allowing residents to keep more of their paycheck. However, some states still impose taxes on other forms of income or rely on other taxes to generate revenue.
Income-Ta…
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- Tax Credits Guide for 2023-2024
Tax credits are powerful tools that reduce your tax bill on a dollar-for-dollar basis. They can lower the amount you owe or even increase your refund. Here's a detailed breakdown of tax credits, how they work, and the m…
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- IRS Phone Numbers and Services?
Main IRS Phone Number
800-829-1040
Available Monday–Friday, 7 a.m. to 7 p.m. local time.
Key IRS Phone Numbers by Service
General Tax Assistance
Appointments with Local IRS Office: 844-545-5640
Free Tax Clinic L…
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- Guide to the 2024 W-4 Tax Withholding Form
The W-4, or "Employee's Withholding Certificate," helps employers determine how much federal income tax to withhold from your paycheck. Here’s a breakdown of what it is, how to fill it out, and why it’s important.
What…
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- How to Find the Best CPA or Tax Accountant Near You
What a CPA Can Do for You
Tax Preparation and Filing
CPAs ensure accurate tax returns, help claim credits/deductions, and handle complex filings.
They sign off on returns and have unlimited representation rights w…
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- How to Find a Reliable Tax Preparer
Navigating tax season can be stressful, but a trustworthy tax preparer can help. Here’s a guide to choosing the right professional and avoiding problems.
1. Do You Need a Tax Preparer?
Simple Returns: If you have a …
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- How Long to Keep Tax Records and Other Documents
Managing financial documents effectively can save you from stress and future complications. Here's a comprehensive guide to how long you should keep various records and how to organize them securely.
Document Retenti…
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- How Long Should You Keep Bills and Other Documents?
While electronic billing and account access can reduce paper clutter, there are still key documents you should keep. Here's a quick guide to managing your paperwork efficiently:
Hold for a Year or Less
These documents …
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- The Best Tax Software and Services
Top Picks for Tax Software
Intuit TurboTax
Best for Tax Expert Help
Offers a range of options: DIY, virtual assistance, or full-service.
Free filing for simple returns; deluxe services start at $259 (federal). …
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- The Best Tax Software and Services
Tax software is essential for simplifying the filing process, whether DIY or with professional assistance. Match your tax needs with the right features for a stress-free experience!
Top Picks for Tax Software
1. Intuit…
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- How to File Your Taxes Online for Free?
Filing your taxes online doesn’t have to cost a dime, especially if you have a simple tax return. Here’s an overview of free filing options and how to use them effectively:
1. Free File Options
A. IRS Free File Syste…
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- Ways to Pay Your Taxes
1. Online Payment Options
IRS Direct Pay
Cost: Free.
Pros:
Schedule payments up to 365 days in advance.
Modify or cancel payments two days before the scheduled date.
Email notifications available.
Cons:…
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