IRA custodians are required to issue IRS Form 5498 by May 31 to report certain IRA activity for the previous year. You might receive a Form 5498 for 2023 if you had reportable deposits for your IRA, ...

Tax season is in full swing and the last thing you want is to file an incorrect return and wait through delays or worse — a rejected return. The IRS has pointed out the most common errors taxpayers ...

Taxpayers often make mistakes when filing their taxes, such as inputting incorrect personal information or making math errors. Choosing the wrong filing status or claiming ineligible credits can lead ...

Fewer taxpayers are subject to gift taxes thanks to a $12,920,000.00 lifetime gift tax exemption for 2023. Because many taxpayers do not fall under the exemption amount, they do not necessarily have ...

As the deadline for Americans to file their taxes approaches, the Internal Revenue Service (IRS) put out a series of guidelines to avoid errors which could slow down or even stop their federal tax ...

The Child Tax Credit (CTC) is a valuable benefit for families in the United States, designed to provide financial support for raising children. It allows eligible taxpayers to reduce their federal ...

YORK, Pa. — According to the Internal Revenue Service (IRS), more than 4 million refunds were delivered last tax season, and more than 15 million people filed. Although those statistics were strong ...

With the official green light to start filing 2022 taxes, taxpayers can now start preparing all of their documents and get ready to file. However, this time of year can also lead to frustration, ...

With state individual income tax returns due in less than a month, the Michigan Department of Treasury reminds taxpayers "there is still plenty of time left to file." Both federal and state tax ...