Make It Official: How and When to Convert Your Sole Proprietorship to an LLC
Let’s set the stage: You’ve been self-employed for a while, and you’re a pro at doing your small business taxes…
TaxAct Blog: Explore All Articles
TaxBit and TaxAct: Crypto Tax Filing Made Easy
As cryptocurrency investments become more mainstream, many taxpayers wonder how they can quickly and accurately report digital currency transactions on…
What to Expect When You’re Expecting a Refund
You’ve successfully e-filed your taxes. Congratulations! Now, where's your refund? Here's what happens to your return once it's submitted to the IRS.…
6 Common Tax Return Mistakes That Could Cost You
Nobody wants to drag out the tax filing process — just make sure you aren’t sacrificing accuracy for speedy filing.…
Expectation vs. Reality: Deducting Work From Home Expenses
Working from home comes with many perks. Are tax deductions one of them? Ever since the COVID-19 pandemic made remote…
Understand These Tax Breaks When Buying a Home
*Updated for tax season 2021 and 2022. Buying a home can help lower your tax bill in certain circumstances. In…
More People Qualify for the Earned Income Tax Credit in 2021 (And Beyond)
There are very few tax breaks available for low-income adults who don’t have children. Thankfully, some important changes were made…
What To Do If You Didn’t File On Time
We know it’s tempting, but don’t put off filing your taxes! Taxpayers must stay on top of tax deadlines to…
10 FAQs About Claiming the 2021 Recovery Rebate Credit
Some people never received or didn’t get their full stimulus payment amount in 2021. If this applies to you, or…
Don’t Throw Away These Letters From the IRS
The Internal Revenue Service has started sending letters to taxpayers who received advance Child Tax Credit (CTC) payments or the…
Child Tax Credit Boosted for Puerto Rico Families in 2022
Ever since the U.S. first introduced the Child Tax Credit (CTC) in 1997, Puerto Rican residents with taxable income have…
How to Check if Your Child Tax Credit Letter is Inaccurate
If you received advance Child Tax Credit (CTC) monthly payments last year, you should be getting Letter 6419 from the…