Here’s a great reason to continue your education – The IRS will allow you to claim a deduction on your post-secondary tuition and fees! When you or your tax preparer files IRS form 8917, you can deduct a portion of your tuition and fees for all qualifying post-secondary education.
Are you trying to figure out if the IRS Form 8965 applies to you?
The Affordable Care Act requires every American to have qualified healthcare coverage. If you didn’t have coverage, you may owe a penalty for the months you went without insurance. Fortunately, there are exemptions many Americans can take advantage of to avoid the penalty.
Please note, this applies only to taxpayers completing tax returns for previous years (2018 and prior), as the Tax Cuts and Jobs Act eliminated the requirement.
If you qualify for an exemption, you must include IRS Form 8965 with your tax returns. Here’s how it works.
Are you a divorced family, wondering how you’ll handle taxes when claiming your dependents? The IRS law makes it pretty clear cut who gets to claim them – the custodial parent. But, if you want to relinquish those rights, you can with IRS Form 8332.
Are you trying to figure out if you qualify for Earned Income Credit (EIC)? Also known as Earned Income Tax Credit (EITC).
Well, no need to worry.
Today we will go over what conditions need to be met, such as your filing status, income, number of kids and more.
In the case where the required conditions are met, you can then easily apply for the Earned Income Credit.
If you received a 4883c letter from the IRS, it’s normal to feel panicked. What did you do wrong? What does the IRS want?
Are they going to come after your assets? Are you going to pay penalties?
These are some 4883c letter questions that go through the minds of taxpayers. Fortunately, the letter isn’t as bad as it seems and with the right steps, you can get through it with ease.