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When tax season rolls around, the tax forms you receive paint a detailed picture of your finances during the tax year. If Form 1099-OID found its way into your mailbox this year, it’s… Read more: Form 1099-OID: What It Is and How to Use It

Taxes aren’t anyone’s favorite topic, but for nonprofit organizations, staying compliant with Internal Revenue Service (IRS) regulations is essential. IRS Form 990 is crucial for maintaining your tax-exempt status and staying transparent about… Read more: Filing Form 990: A Guide for Nonprofit Organizations

Tax documents can take up a lot of space in your filing cabinet, but many of us are wary of throwing them away. If fears of a tax audit or identity theft live… Read more: How Long to Keep Tax Records and How to Dispose of Them

Unemployment benefits can be a vital support for those experiencing unexpected job loss. If you received unemployment compensation for the first time this year, you may be wondering how it will impact your… Read more: Is Unemployment Compensation Taxable Income?

When dealing with tax matters, you might need someone else to handle things for you. Whether you’re facing an audit, resolving a tax liability, or just want your CPA to speak with the… Read more: IRS Form 2848: A Guide to Power of Attorney for Tax Matters

Categorizing your business costs into direct expenses and indirect expenses is essential for tax purposes. But how do you know which is which? Let’s take a simplified look at the differences between the… Read more: Direct vs. Indirect Expenses: What’s the Difference?

Cash App® is an easy way to send and receive money, but are there tax implications when using it? While taxes generally won’t apply to your personal payments, they still apply to business… Read more: Cash App® Taxes Explained: 1099, IRS Rules & Filing

Services like Zelle® are a quick, convenient, and accessible way to send and receive money without needing a trip to the bank. However, as their popularity grows, you may be wondering about the tax… Read more: Are Zelle® Payments Taxable?: Zelle® Taxes Explained

Using PayPal® makes sending and receiving money easy, whether you’re splitting dinner, running a small business, or getting paid as a freelancer. But when tax season rolls around, some PayPal users are surprised… Read more: PayPal Taxes: How PayPal IRS Reporting and 1099 Rules Work

Updated March 2026. The Working Families Tax Cut Act (formerly called the One Big Beautiful Bill) introduced a new type of savings account called Trump Accounts (also known as 503A accounts). These investment-style… Read more: What is a Trump Account? Understanding the New Savings Accounts for Kids and Families

Updated for tax year 2025. It’s easy to put off your tax filing, especially when life gets busy. But if you miss the tax deadline (usually the Tax Day due date is April… Read more: What Happens If You Don’t File Taxes?

Sending money through Venmo® is quick and casual, but when tax season rolls around, things can get complicated. Whether you’re splitting dinner, running a small business, or dabbling in crypto, it’s important to… Read more: Venmo Taxes: What You Need to Know Before You File

If you’re thinking about selling capital assets, like stocks, crypto, real estate, or another investment, you’re probably wondering how much tax you’ll owe when it comes time to file. The answer often depends… Read more: What Is Short-Term Capital Gains Tax?: A Guide to Rates and Brackets

Life doesn’t always cooperate when tax season rolls around. Missing tax documents, unexpected emergencies, or just a complicated tax situation can make it challenging or even impossible to meet the tax filing deadline… Read more: 12 FAQs About Tax Extensions

If you happened to trade stocks, cash out cryptocurrency, or sell real estate or other capital assets during the tax year, you may need to file some new tax forms this year. Specifically,… Read more: Schedule D: Your Guide to Reporting Capital Gains and Losses

If you rely on tips as part of your paycheck, you’ve likely heard about the new no tax on tips provision included in the One Big Beautiful Bill (OBBB), also called the Working… Read more: No Tax on Tips: What Tipped Workers Need to Know About the New Deduction

Updated for tax year 2025. If a creditor cancels your debt, that’s good news, right? Such cancellation of debt usually happens when the creditor gives up on collecting the debt or when the… Read more: Is Canceled Debt Taxable?

Did you receive Form 1099-INT this tax year? Here’s what is included in this important tax document and how you should use it when filing your federal income tax return. At a glance:… Read more: Form 1099-INT: What It Is and How to Use It

If there’s one thing many of us don’t want to see in our mailbox, it’s a letter from the Internal Revenue Service. Even worse, we don’t want to get a letter from the… Read more: 5 Reasons to Stop Worrying About a Tax Audit

There are often two types of tax filers: Those who neatly file their tax information and receipts away in color-coded file folders in preparation for tax season and those who scramble to gather… Read more: 7 Organizational Tips to Make Tax Filing Easy

You sold your house, an investment property, or something else of value. So, when do you tell the Internal Revenue Service? While tax law can seem overwhelming for many Americans, we’re here to help… Read more: How Capital Gains Tax Works: Short-Term vs. Long-Term Gains

Dividends can be a valuable source of investment income, but the tax rules aren’t always straightforward. Some dividends are taxed at ordinary income rates, while others may qualify for lower tax rates. Understanding how… Read more: How Are Dividends Taxed?: Ordinary vs. Qualified Dividends

Updated for tax year 2025. Did you profit from selling a house, some investments, or even a car this year? If so, you’ll likely need to report the sale on your income tax… Read more: Long-Term Capital Gains Tax: How Much Tax Will I Owe?

Not all small business owners need an employer identification number (EIN), but it may be beneficial to get one anyway, depending on your situation. Here’s what you need to know about applying for… Read more: What is an EIN and Why Do I Need One?

Last updated April 2, 2026. The Internal Revenue Service (IRS) has announced tax relief for taxpayers in areas impacted by recent federally declared disasters. Find out if you qualify by finding your state… Read more: IRS Extends Tax Deadlines in Some States Due to Natural Disasters

New national survey of 2,000 adults finds more than half of Americans regularly put off essential tasks, with taxes ranking among the most avoided  DALLAS, March 31, 2026 — TaxAct®, a leading U.S. tax software provider with… Read more: TaxAct® Officially Declares April 8 National Admin Night, Inviting Americans to Tackle Their To-Do Lists Together 

Let’s be honest, filing your taxes probably isn’t how you’d choose to spend a cozy night in. But what if you could turn a task we all dread into something to look forward… Read more: Tax Admin Night: What to Bring and How to Prepare to File Your Taxes

DALLAS, Jan. 29, 2026 /PRNewswire/ — TaxAct, a leading U.S. tax software provider trusted by more than 111 million filers since 1998, is entering the 2026 tax season with an expanded set of filing options… Read more: TaxAct® Expands Flexible Filing Options for the 2026 Tax Season

Did you receive Form 1099-G this tax year? Here’s everything you need to know about this important tax form and how to use it when filing your income tax return with the Internal… Read more: Form 1099-G: What It Is and How to Use It

Updated for tax year 2025. Your wedding day is one of the most exciting and memorable days of your life. It makes all the hectic planning leading up to the big day well… Read more: I’m Married, What Filing Status Should I Choose?

Updated for tax year 2025. If your spouse receives disability benefits, it’s very likely that your financial situation has also been impacted. That’s why it’s important to understand what sections of the tax… Read more: 5 Tips for Spouses of Taxpayers Receiving Disability Income

Have you ever considered temporarily renting out your home for additional income but decided against it because of the tax implications? Luckily, there’s a way around this for homeowners with the Internal Revenue… Read more: What Is the IRS Augusta Rule?

If you work as a caregiver in someone’s home — as a babysitter, nanny, pet sitter, or nurse, perhaps — are you considered an employee? Understanding the distinction between household employees and independent… Read more: How to Tell If You’re a Household Employee

Updated for tax year 2025. The Earned Income Tax Credit, also called the EITC or EIC, is a tax credit designed to help low- to moderate-income working families and individuals get ahead and put… Read more: 8 FAQs About the Earned Income Tax Credit (EITC)

You may have seen influencers raving about the short-term rental tax loophole (also called the STR loophole or Airbnb® tax loophole) on social media. Their advice? Buy a vacation rental, take the bonus… Read more: The STR Loophole Explained: What Short-Term Rental Owners Need to Know

Navigating the ins and outs of owning a business can be difficult, especially as a small business owner. With limited resources and funds at your disposal, determining how to pay yourself as a… Read more: How to Pay Yourself as a Business Owner

When an eligible entity, such as a limited liability company (LLC), is formed, the Internal Revenue Service (IRS) may automatically declare your entity classification for you. However, if you’d prefer to elect your classification yourself or… Read more: Guide to Form 8832: Entity Classification Election Explained

South Dakota does not impose a state personal income tax, meaning you won’t receive a South Dakota tax refund, and there is no South Dakota refund status to track for individuals. Learn more… Read more: Does South Dakota Have State Income Tax?

Form 1099-QA is tied to your ABLE account, a tax-advantaged savings option for those with disabilities. If you’ve received a distribution from an ABLE account, also called an ABLE program, you’ll get Form… Read more: Form 1099-QA: What It Is and How to Use It