Is Canceled Debt Taxable?
Updated for tax year 2025. If a creditor cancels your debt, that’s good news, right? Such cancellation of debt usually…
TaxAct Blog: Explore All Articles
Why Is My Tax Refund Smaller This Year?
Updated for tax year 2025. Was your tax refund smaller than anticipated this year? Here’s why your refund from the…
Understanding Adjusted Gross Income (AGI)
As a taxpayer, you’ve undoubtedly heard about adjusted gross income, or AGI, which plays a pivotal role in your taxes.…
How a Summer Job Affects Your Taxes
A summer job is a great way to add extra money to your bank account. Whether you’re a cash-strapped student, a…
Is Unemployment Compensation Taxable Income?
Unemployment benefits can be a vital support for those experiencing unexpected job loss. If you received unemployment compensation for the…
Important Tax Dates and Deadlines in
Updated for tax year 2024. Get ready to mark these important dates on your calendar. Here are the most important…
2024 Tax Changes: What You Need to Know
Every year brings new tax law changes to keep American taxpayers on their toes, and 2024 is no different. From…
Do I Need to File Taxes?
Not every American taxpayer must file a tax return, even if you earned taxable income during the year. Let’s review…
8 Back-to-School Shopping Tricks to Save Moms and Dads Money
Back-to-school shopping can put a serious dent in your bank account, and rising prices aren't exactly helping matters. Before you…
Top Inflation Changes for Tax Year 2023
While there is no escaping inflation, the IRS adjusts certain tax numbers every year to account for reduced purchasing power.…
Tax Filing 101: 7 Things That Can Impact Your Tax Refund
It’s time to review some important tax basics before the upcoming tax season. Here are seven things to keep in…
6 Tips for Dealing With Inflation While Living Paycheck to Paycheck
As inflation and the cost of living continue to climb, more Americans are starting to feel the strain on their…
Inflation Rate Calculator
High inflation got your stress levels up? Here are some savings and investment strategies you can use as an inflation…
Are Zelle® Payments Taxable?: Zelle® Taxes Explained
Services like Zelle® are a quick, convenient, and accessible way to send and receive money without needing a trip to the…
PayPal Taxes: How PayPal IRS Reporting and 1099 Rules Work
Using PayPal® makes sending and receiving money easy, whether you’re splitting dinner, running a small business, or getting paid as…
What is a Trump Account? Understanding the New Savings Accounts for Kids and Families
Updated March 2026. The Working Families Tax Cut Act (formerly called the One Big Beautiful Bill) introduced a new type…
What Happens If You Don’t File Taxes?
Updated for tax year 2025. It’s easy to put off your tax filing, especially when life gets busy. But if…
Venmo Taxes: What You Need to Know Before You File
Sending money through Venmo® is quick and casual, but when tax season rolls around, things can get complicated. Whether you’re…
What Is Short-Term Capital Gains Tax?: A Guide to Rates and Brackets
If you’re thinking about selling capital assets, like stocks, crypto, real estate, or another investment, you’re probably wondering how much…
12 FAQs About Tax Extensions
Life doesn’t always cooperate when tax season rolls around. Missing tax documents, unexpected emergencies, or just a complicated tax situation…
Schedule D: Your Guide to Reporting Capital Gains and Losses
If you happened to trade stocks, cash out cryptocurrency, or sell real estate or other capital assets during the tax…
No Tax on Tips: What Tipped Workers Need to Know About the New Deduction
If you rely on tips as part of your paycheck, you’ve likely heard about the new no tax on tips…
Form 1099-INT: What It Is and How to Use It
Did you receive Form 1099-INT this tax year? Here’s what is included in this important tax document and how you…
5 Reasons to Stop Worrying About a Tax Audit
If there’s one thing many of us don’t want to see in our mailbox, it’s a letter from the Internal…