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The May 17, 2024 deadline is fast approaching for taxpayers who have not yet filed a 2020 tax return to claim a refund of withholdings, estimated taxes or their 2020 Recovery Rebate Credit. The IRS estimates that almost 940,000 of the nation’s taxpayers have unclaimed refunds totaling more than $1 billion for tax year 2020…

If you are unable to pay your taxes in full, the IRS has several options that you can consider based on your financial situation. TAS Tax Tips: Need options for when you owe federal taxes, but can’t pay in full? The best-case scenario is to pay your taxes in full (Easy Payment Methods explained video) by the…

When you look at your income for the year, you may find that you made some money from one of your pastimes. But how do you know if that pursuit is just a hobby, or if it’s turned into an actual business? It’s important to make sure you classify your income properly because it has…

Filing Help For most people, your tax return needs to be filed by April 15.   If you need assistance with filing your tax return you can visit the Filing for Individuals page, Online tools and resources , or Free tax preparation available for millions of families pages on IRS.gov. If you haven’t filed yet and you cannot do so by…

Are you a U.S. servicemember stationed overseas? If so, you need to be familiar with your U.S. tax filing requirements. U.S. citizens and residents abroad are generally required to file income tax returns reporting their worldwide income in the same way as taxpayers residing in the United States. This includes U.S. military personnel serving overseas.…

Need an IRS form, information, or notice in a different format or language? Here’s how to find them and make requests for future notices and letters to be sent in your preferred language. Tax Forms and Information Accessible Formats The IRS already provides a number of accessible tax forms, instructions, and publications on its Accessible…

I previously described the dizzying tax compliance challenges encountered by U.S. citizens and residents living abroad. Now, I will describe the basics of filing and paying U.S. taxes for U.S. citizens and residents living abroad. Who Must File The United States taxes its citizens and residents on worldwide income, regardless of where they live. This…

Where’s My Refund 2024? If you filed a  federal income tax return and are expecting a refund from the IRS, you may want to find out the status of the refund or at least get an idea of when you might receive it. You can start checking on the status of your refund within 24…

Are you a U.S. citizen or resident living abroad? If so, you are required to comply with U.S. tax laws and may have filing obligations even if you did not step foot in the United States last year. These obligations can be a surprise to many, and, with increased globalization and post-COVID-19 remote work freedoms,…

Taxpayers are often surprised after they file their tax return requesting a refund to receive a smaller amount or no refund at all. Many are not familiar with the law that provides the IRS the ability to reduce their refund and apply it to prior federal and state liabilities. The IRS’s authority to offset a…