Author Bio
Maurie Backman is a personal finance writer who s passionate about educating others. Her goal is to make financial topics interesting (because they often aren t) and she believes that a healthy dose of sarcasm never hurt anyone. In her somewhat limited spare time, she enjoys playing in nature, watching hockey, and curling up with a good book.
Though many Americans are required to file a tax return, some people are exempt. If you re a lower earner, for example, you may not be required to file a return. But for this year, in particular, that s a move you might regret.
How to file your taxes for free online
TurboTax has a free option for filing your income taxes. And it’s not the only one.
(Rogelio V. Solis / Associated Press)
Taxes may be one of life’s certainties. But paying to pay them isn’t.
In many other countries, the government does the math for you and tells you how much to pay, at no cost to you (beyond the taxes you are paying in the first place). In America, the Internal Revenue Service asks you to guess how much to pay, then punishes you if you are wrong. You also have the option to pay third-party companies for software that helps you make a better guess at the number that the IRS could calculate on its own.
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Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 26, 2021 – April 30, 2021.
April 26, 2021: The IRS issued Revenue Procedure 2021-23, making superseding changes to earlier Revenue Procedures related to the Child Tax Credit under section 24 of the Code, the Earned Income Credit under section 32 of the Code and the Premium Tax Credit under section 36B of the Code in order to reflect statutory amendments made by the American Rescue Plan Act of 2021 (ARPA).
April 26, 2021: The IRS issued a news release reporting the results of its March 2021 inaugural National Virtual Settlement Month, an IRS-coordinated nationwide initiative to provide pro bono legal advice to
IR-2021-99, April 30, 2021
WASHINGTON Eligible organizations can now submit applications for the Internal Revenue Service s Tax Counseling for the Elderly and Volunteer Income Tax Assistance grant programs, allowing some organizations to apply for up to three years of annual funding.
Organizations can apply on Grants.gov through June 4, 2021, and can find application packages and guidelines on IRS.gov. In 2021, the IRS awarded 31 TCE grantees $11 million and 297 VITA grantees $25 million. The two programs prepare millions of tax returns each year.
The IRS established the TCE program in 1978 to provide tax counseling and return preparation to persons age 60 or older and to give training and technical assistance to the volunteers who provide free federal income tax assistance within elderly communities across the nation. For more information visit the TCE webpage on IRS.gov.
Filing Taxes for the First Time? 3 Things You Need to Know kxly.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kxly.com Daily Mail and Mail on Sunday newspapers.