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…
TaxAct Blog: Explore All Articles
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…
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…
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 outpace wage growth, more Americans are feeling 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…
5 Best Ideas for Summer Vacation on a Budget
Want summer vacation on a budget? If part of your spending money is coming from savings — or a tax…
Top 10 Ways to Save Money on Your Next Car Purchase
Updated for 2025. Are you in the market for a new car, truck, or SUV? If so, do you have…
7 Ways to Pay Your Income Tax Bill
If you owe taxes after filing your individual income tax return, the IRS offers several payment options to help you…
State Income Tax vs. Federal Income Tax: What’s the Difference?
State and federal income taxes share many similarities, but they serve different purposes and are administered by different levels of…
IRS Payment Plans: The Basics
Updated for tax year 2025. If you find that you owe a significant amount of money to the government when…
I Made a Mistake on My Return. What Do I Do?
Learn how to fix a mistake after you filed your return.
States With No Income Tax
Updated for tax year 2025. While most U.S. states levy a personal income tax, a few do not have a…
Form 2441: Your Guide to Claiming the Child and Dependent Care Credit
If you paid for daycare, after-school care, or even a household employee so you could work or look for work,…
How Do You Report Cryptocurrency on Your Taxes?
Updated for tax year 2025 Digital currency wallets like Coinbase® have made it easy to invest in blockchain technology, such as…
Form 1099-OID: What It Is and How to Use It
When tax season rolls around, the tax forms you receive paint a detailed picture of your finances during the tax…
Filing Form 990: A Guide for Nonprofit Organizations
Taxes aren't anyone's favorite topic, but for nonprofit organizations, staying compliant with Internal Revenue Service (IRS) regulations is essential. IRS…
How Long to Keep Tax Records and How to Dispose of Them
Tax documents can take up a lot of space in your filing cabinet, but many of us are wary of…