Tax Updates 2020 2021

10 Top Tax Changes You Must Know Before Filing in 2023

The 2021 tax season is coming soon. That means that it’s time to check out the latest 2020 tax changes and updates. The good news is that we have been able to put together this easy to follow guide on the latest tax changes.

Be sure to check out each of the ten major 2020 tax changes for the season. Chances are, at least some of these recent tax changes may apply to you.

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11 Super Simple Tax Tips for 2023 (Doing Tax Season the Right Way)

It’s that time of year again! No, I’m not talking about the Yuletide season, I’m speaking on the adventurous time of the tax season.

Now is the best time to start gathering all of your data for the 2021 tax season. Whether you know it or not, having a game plan or strategy for your taxes is the most important step in conquering this daunting task.

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IRS form 8832 with computer keyboard next to notebook

Do I Need to File IRS Form 8832 for My Business?

You may be eligible to change your business’s tax classification if you file IRS Form 8832. It’s not for everyone – only certain businesses qualify, but it can be financially beneficial.

Find out if your business qualifies for a change in tax classification in this guide.

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IRS form 8821 with computer keyboard next to notebook

IRS Form 8821 (How to Give Tax Information Authorization to Another Person)

Do you know how to use the IRS form 8821 or are you confused?

As a taxpayer, have you ever wished that you could just pass the reins over to an accountant or other tax professional to help you navigate tax season?

Or as a Tax Preparer, wouldn’t it just be easier if you were able to request the information you needed from the IRS in order to help your client?

If you’ve ever felt like you were in either of these situations then you probably have a need for IRS Form 8821. This form was created to help make the communication process more transparent between taxpayers, tax professionals, and the IRS.

In this article, we’ll take a deeper look at what exactly the IRS Form 8821 is and (more importantly) how you can use it to your advantage.

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How to fill out IRS form 8863 students in college studying

Understanding IRS Form 8863: Do I Qualify for American Opportunity Credit?

Did you know that Uncle Sam can help you pay for your post-secondary education? That’s right. With IRS Form 8863, you can save up to $2,500 in tax liability for education expenses for you or your dependent student.

Known as the American Opportunity Credit, this credit is applicable for those who make up to $90,000 in filing individually or up to $180,000 if married filing jointly.

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