Refunds Held Up for Earned Income Tax Credit and Additional Child Tax Credit Filers

The IRS will begin to release Earned Income Tax Credit (EITC) and Additional Child Tax Credits (ACTC) refunds starting Feb. 15. However, the IRS cautions taxpayers that these refunds likely won’t arrive in bank accounts or debit cards until the … Read More

Itemized Deductions for 2016 Medical Expenses

If you itemize your deductions on Form 1040, Schedule A, the threshold for unreimbursed medical and dental expenses you paid for yourself, your spouse, and your dependents must exceed 10 percent of your adjusted gross income before a deduction is … Read More

IRS Now Accepting ITIN Renewal Applications

The Internal Revenue Service reminds taxpayers affected by recent changes involving the Individual Taxpayer Identification Number (ITIN) program that they can now begin submitting their ITIN renewal applications to the IRS. Under the Protecting Americans from Tax Hikes (PATH) Act … Read More

IRS Urges Taxpayers to Check Their Withholding

The Internal Revenue Service today encouraged taxpayers to consider a mid-year tax withholding checkup following several new factors that could affect their refunds in 2017.  Taking a closer look at the taxes being withheld can help ensure the right amount … Read More

IRS Gives Expanded Tax Relief to Victims of Hurricane Matthew

Hurricane Matthew victims in much of North Carolina and parts of South Carolina, Georgia and Florida have until March 15, 2017, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced today. … Read More

Some Tax Benefits to Increase Slightly in 2017

Annual inflation adjustments will affect more than 50 tax provisions, including the tax rate schedules, in tax year 2017, the Internal Revenue Service announced. Revenue Procedure 2016-55 provides details about the annual adjustments, which will generally be used on returns … Read More