Planning on Moving to a Different State? Check Out the Tax Rate First
Moving to a high-tax state might put significant pressure on your wallet. Here are the states with the highest taxes.
Taxes
Market Realist has the latest news and updates on taxes including income tax, property tax, and estate tax, and how to file.
Letter 6475: What It Is and How to Get Stimulus Information Online
If you want to check your economic impact payment history, refer to letter 6475. Here's how you can get letter 6475 and other stimulus information online.
Wonder Why Your Tax Return Is So High in 2022? You Aren't Alone
While tax return season is stressful, it can be a financial break for some people. Many people are asking the same question—why is my tax return so high in 2022?
Does a 1098-T Tuition Statement Help Increase Your Tax Refund?
Colleges across the country have already started sending out IRS Form 1098-T tuition statements to students. Does a 1098-T increase your refund?
Why Do Married Couples Get Tax Breaks?
On the fence about getting married? You might consider tying the knot if you’re looking for significant tax breaks. Why do married couples get tax breaks?
Do You Have to Report Unemployment Benefits on Taxes?
Millions of Americans received unemployment benefits and extra unemployment payments in 2021. Do you have to report all of these on your taxes?
Do You Have to Report Stocks on Your Taxes? Yes, and Here's How
Reporting taxes also includes reporting capital gains. Yes, you have to report stocks on your taxes when you file. Here's what to know.
Why Didn't My Employer Take Out Federal Tax? What You Should Do
Tax errors are commonplace and are usually made by the person doing the filing. Why don't some employers take out federal tax? How can it be fixed?
How Does a Tax Write-Off Work and Does the IRS Allow It?
Many people want to know what a tax write-off is, how it works, and whether the IRS allows it in the first place. Here are all of the rules for a tax write-off.
Tax Refund Cash Advance Emergency Loans: Pros and Cons
Are you anxiously awaiting your tax refund? You might want to consider getting a tax refund cash advance emergency loan to help pay your bills.
Why Was My Tax Return Rejected? Primary Causes, Explained
Tax season has started and the IRS will reject some tax returns. The primary causes of tax return rejection are minor errors like incorrect spelling or identification numbers.
Where Can I Get My Taxes Done for Free? Check These Services
Tax filing for 2022 starts on Jan. 24 and there are a variety of services you can choose from to file. But which services let you file for free?
Cannabis Tax Revenue Over $10 Billion, Exceeds Alcohol in Some Places
Legal cannabis is a big tax revenue generator. In the U.S., cannabis tax revenue has officially surpassed $10 billion. What was the cannabis tax revenue in 2021?
What's Tax Abatement? Breaking Down the Regulations
Property taxes could be one of the significant costs you incur when you own a property. Tax abatement can change that. What is tax abatement?
Does the Child Tax Credit Continue in 2022?
The last child tax credit monthly payments went out to eligible parents in December 2021. Does the child tax credit continue in 2022? Here's the scoop.
Amazon Flex Tax Forms: Info on Income Tax for Amazon Flex Drivers
You’ll receive tax forms for Amazon Flex if you’ve earned more than $600 in a tax year through the company. Read more about reporting the income.
California Might Be Doubling Taxes—What to Know Before the Decision
California is contemplating a move that could massively increase tax payments for families and businesses in the state. What's in the bill?
Can Taxes Be Paid in Installments? Understanding Payment Options
If you're faced with a big tax bill that you aren't sure you can afford, you might be looking for options of how you can pay it. Can taxes be paid in installments?
What's the Best Crypto Tax Software for Investors?
Cryptocurrency investors want to know about the best advice, platforms, and software to help calculate their taxes. What's the best crypto tax software?.
Are PPP Loans Taxable? IRS Provided Updated Guidance
With the onset of the tax season 2022, many new questions have been arising related to COVID-19 relief measures. Are PPP loans taxable?
What’s the Zelle Tax Loophole? New IRS Guidelines, Explained
Zelle has what some people are calling a "tax loophole" because it isn't required to report transactions above $600 to the IRS. What's considered taxable income?
Are Taxes Going Up in 2022? That Depends on a Few Factors
The cost of everything has gone up recently due to rising inflation. As we enter tax season, you might be wondering if taxes are going up in 2022.
Can You Write Off Child Support on Your Taxes? No, and Here's Why
As tax season approaches, can taxpayers who paid child support in 2021 write off those payments on their taxes? No, child support is not tax-deductible.
When Will the IRS Start Accepting Tax Returns for 2022 Filing Season?
The IRS announced that tax filing season will begin on Jan. 24, 2022. Many tax preparation companies have begun accepting returns.
Zelle IRS Rules Are Changing in 2022, No New Taxes Are Due
Zelle and other third-party payment platforms will have to provide a 1099-K to users and report their income above $600 for the 2022 tax year.
How Will the IRS’s $600 Tax Rule Impact Small Business Owners?
Effective in January 2022, the IRS will require third-party payment processors to report users’ business transactions that exceed $600 a year. What's the IRS's $600 rule and who's impacted?
Is Tax Software or an Accountant the Best Option for Filing Taxes?
Tax season is here and soon millions of U.S. citizens will be filing a tax return for 2022. There are options to self-file taxes or use an accountant.
Did You Receive the Child Tax Payment? Expect a Letter From the IRS
People who received child tax payments can expect a letter in the mail from the IRS starting in December 2021 through January 2022. Why are people getting a letter?
How to File Taxes Without a W-2 Ahead of January 31
If you don’t want to wait until Jan. 31 to file your taxes, there are some things you should know about how to file taxes without a W-2.
How Many Tax Exemptions Should You Claim in 2021?
Claiming tax exemptions directly impacts your take-home each pay period depending on your tax withholding. How many tax exemptions should you claim in 2021?
Does Elizabeth Warren Pay Taxes? See What Her Tax Returns Say
Senator Elizabeth Warren, known for pushing for higher taxes on the wealthy, made her tax returns since 2008 publicly available in order to be transparent.
How Much Will I Get Per Child When I File My 2021 Taxes in 2022?
The American Rescue Plan increased the child tax credit from $2,000 per child to $3,600 for kids under the age 6 and $3,000 for kids between the ages of 6 and 17.
Will the Unrealized Capital Gains Tax Targeting Billionaires Pass?
Lawmakers are targeting billionaires for tax revenue. Will the unrealized capital gains tax pass?
What Does the Proposal To Tax Unrealized Capital Gains Mean for Americans?
A proposal to tax unrealized gains is being considered in the Senate. This would eliminate wealthy individuals' ability to defer taxation on assets.
Who Has the Top 1 Percent Income in the U.S., and How Are They Taxed?
The top 1 percent in the U.S make a lot of money and are wealthy. But how are they taxed?
Members of Congress Must Pay Income Taxes Like All Other U.S. Citizens
Do congressmen and congresswomen pay taxes? Yes—it’s a myth that representatives and senators are exempt from income tax.
FAFSA Is Asking for 2019 Tax and Income Information—Here's Why
FAFSA (Free Application for Federal Student Aid) is asking for 2019 tax and income information because it evaluates applications based on previous income.
Biden’s Expected Capital Gains Changes Won’t Impact 401(k) Accounts
How does Biden’s tax plan impact 401(k) accounts? For starters, the proposed capital gains tax increase wouldn’t affect retirement savings.
Why Federal Income Tax Wasn't Withheld From Your Paycheck
Here are a few reasons why no federal income tax may be withheld from your paycheck. If taxes aren't withheld from your paycheck, you need to know why.
Why You Should File Taxes Even If You Didn't Have Any Income
The deadline to file taxes for 2020 is May 17, 2021. It's a good idea file taxes even if you didn't have any income. Here's why.
How to Determine If You Qualify for an Earned Income Tax Credit
Many taxpayers don’t know they qualify for the IRS’s earned income tax credit. Without a professional, it might be overlooked.
How to Avoid or Reduce Capital Gains Taxes on Stocks
How can you avoid paying capital gains taxes on stock investments? Here are some legal ways to lower your tax burden on stock earnings.
How Doubling Capital Gains Tax for the Wealthy Fits Into President Biden's Spending Plan
Which Americans would have to pay more in capital gains tax if President Biden's plan goes through, and where would the money go?
Biden Administration Sets New Income Limits for the Child Tax Credit
The Biden administration just passed the American Rescue Plan Act. What are the income limits for the new version of the child tax credit?
Is the Earned Income Tax Credit Lower in 2021?
The earned income tax credit has been around for decades, but is the U.S. government minimizing its reach? What can you expect in 2021?
Capital Gains Property Tax Rate for Home Sellers in 2021
When you sell your home, you have to pay taxes on the sale of a property. What’s the capital gains property tax rate if you plan to sell your home in 2021?
Why Are Bonuses Taxed Higher Than Ordinary Income?
Your bonuses are taxed higher compared to your regular income because the IRS treats bonuses differently. How does the IRS tax bonuses?
Is Short-Term Gains Tax Different From Other Capital Gains Tax?
No matter the investment, capital assets are always going to be taxed by the government. Is this amount different for short-term gains?
Do Capital Gains Count as Income and How Will You Be Taxed?
Capital gains do count as income. The rate at which they are taxed depends on your tax filing status and the amount of the gain.
What’s the Long-Term Capital Gains Tax Rate in 2020?
The long-term capital gains tax rate applies after one year of holding the asset. What’s the long-term capital gains tax rate in 2020?