IRS.com is not affiliated with any government agencies

Topics

Blog

The CTC’s Growing Up: Highlights and Overview of the Child Tax Credit and How the CTC Works

My, how these child tax credits grow! Filing your taxes in 2021, 2022, and 2023 are very different years. (Fingers crossed that the CTC gets…

You Filed Your Amended Tax Return. So Where’s Your Amended Refund?

I've never thought of doing my taxes a second time - kinda like how I never thought I'd go in for a second root canal.…

Start Here: How Section 1231 Works, How It Relates to Capital Gains, and the Right Way to Report 1231 Property on Your Taxes

What is Section 1231? 1231 gains overview Section 1231 of the tax code provides guidance on the treatment of gains and losses derived from the…

How a 1099 Tax Calculator Adds Up to Big Savings for Contractors and Self-Employed Individuals

What is a 1099 Tax Calculator? If you're a freelancer, independent contractor, or vendor who isn't on an employer's payroll, you may receive a 1099…

Adoption Tax Credit and the Benefits of Qualified Adoption Expenses

Overview of Adoption Tax Benefits This credit seems pretty direct, but a lot of paperwork. Then again, if you're adopting a kid, the paperwork's not…

What Do I Do With an IRS Adjusted Refund Letter?

I must have been doing something right for years -- I've never heard of this Adjusted Refund letter. An Adjustment Notice is a letter sent…

You Received a 5071C Letter. Now What?

What's the Purpose of the 5071C Letter? IRS Letter 5071C serves a crucial purpose in protecting taxpayers from potential tax fraud. In short, the IRS…

How Your Employer Match Contributions Affects 401k Limits

No, your boss's 401k match doesn't count toward your limit. So stop buying pumpkin spice lattes every day and invest in your future. Does employer…