Educators can now deduct out-of-pocket expenses for COVID-19 protective items
Eligible educators can deduct unreimbursed expenses for COVID-19 protective items to stop the spread of COVID-19 in the classroom. COVID-19 protective items include, but are not limited to: face masks; disinfectant for use against COVID-19; [...]
What taxpayers need to know to claim the earned income tax credit
The earned income tax credit can give qualifying workers with low-to-moderate income a substantial financial boost. In 2019, the average amount of this credit was $2,476. It not only reduces the amount of tax someone [...]
New law extends COVID tax credit for employers who keep workers on payroll
The Internal Revenue Service urges employers to take advantage of the newly-extended employee retention credit, designed to make it easier for businesses that, despite challenges posed by COVID-19, choose to keep their employees on the [...]
Get a federal tax refund faster with direct deposit
The Internal Revenue Service today reminds taxpayers that the fastest way to get their tax refund is by filing electronically and choosing direct deposit. Direct deposit is free, fast, simple, safe and secure. Taxpayers can [...]
Can I Take Tax Deductions Without Itemizing?
Can I Take Tax Deductions Without Itemizing? Maurie Backman, author who writes for The Motley Fool, writes great articles about finance benefits for social security, taxes, and other areas people can benefit. Her article of [...]