Taxation · 03/28/2025

The Earned Income Tax Credit (EITC), implemented in 1975, has evolved into the largest anti-poverty program in the United States over the past fifty years, providing around $64 billion in economic support to 23 million low-income families. EITC assists working families in managing living expenses, achieving savings, and building financial stability, realizing the dreams of countless individuals.

Taxation · 03/28/2025

The Earned Income Tax Credit (EITC) policy, implemented in 1975, has become one of the largest anti-poverty programs in the United States, helping millions of families escape poverty. By 2024, 23 million families will receive $64 billion in support, with the maximum EITC amount continuously increasing. This policy not only improves economic conditions but also aids families and individuals in achieving long-term financial stability and self-actualization.

Taxation · 03/25/2025

The IRS Free File program offers free online tax filing services for taxpayers with an annual income of less than $84,000, helping them complete their tax returns quickly and accurately. The advantages of this program include the ability to calculate tax credits, ensure user privacy, and operate on multiple devices, enhancing the convenience of tax filing.

Taxation · 03/25/2025

The IRS Free File program offers eligible taxpayers free tax software, facilitating quick and easy federal tax filing for those with an income limit of $84,000. This initiative aims to reduce economic burdens and enhance the tax filing experience.

Taxation · 03/24/2025

To successfully receive a tax refund, taxpayers should collect all tax documents, ensure personal information is accurate, use an electronic filing system, report all taxable income, and pay attention to digital asset issues. It's also crucial to confirm bank information accuracy and sign the tax return. Timely tax payment or applying for an extension is essential. By summarizing these steps, taxpayers can effectively avoid filing errors and expedite the refund process.

Taxation · 03/24/2025

This article analyzes the meaning of the CP12 notice, providing comprehensive information on tax corrections, refund processing, and dispute resolution to help taxpayers better understand and respond to changes in tax regulations.

Taxation · 03/13/2025

Starting in 2024, individuals aged 73 and older must begin required minimum distributions (RMD) as mandated. RMD applies to IRAs and retirement plans, while Roth IRAs are exempt from this requirement.

Taxation · 03/13/2025

This article outlines the steps and precautions for effectively contacting the IRS to lift collection measures when tax collection leads to economic difficulties. It emphasizes the importance of timely communication and providing detailed financial information, while also exploring alternative approaches to resolving tax issues.

Taxation · 03/10/2025

The IRS reminds taxpayers to take advantage of various free tax filing options. The newly launched 'Direct Filing' service is now available in 25 states, allowing users to easily file both federal and state taxes, with conveniences such as data import and online support.

Taxation · 03/07/2025

Statistics from the 2025 tax season show a decline in the number of tax returns filed by U.S. taxpayers, while the amount and number of refunds have increased, with an average refund amount of $3,324. E-filing continues to gain attention, but website traffic has significantly decreased, reflecting changes in tax processing methods and evolving taxpayer needs.

Taxation · 03/06/2025

The IRS requires taxpayers to enter their adjusted gross income (AGI) or a self-selected PIN for identity verification when e-filing. This article explains how to locate the previous year's AGI, offers preferred and optional methods, and emphasizes the necessity of using an identity protection PIN to ensure a smooth tax filing process.

Taxation · 03/06/2025

This article explains how to confirm the status of your tax e-filing, emphasizing the importance of entering your Adjusted Gross Income (AGI) from the previous year and your self-selected PIN. It also provides practical advice on how to locate your AGI.

Taxation · 03/05/2025

This article provides a detailed guide on how to renew an Individual Taxpayer Identification Number (ITIN), including the validity period, steps for completing Form W-7, and submission methods. It also highlights important considerations for individuals who have obtained a Social Security Number (SSN), offering readers comprehensive guidance.

Taxation · 02/27/2025

The IRS recently added W-2 and 1095-A forms to individual online accounts, making it easier for taxpayers to access their tax information. This feature aims to enhance user convenience in reviewing tax records, and the IRS plans to expand additional document functionalities. Taxpayers still need to retain other state and local tax records and file their taxes on time.

Taxation · 02/27/2025

The IRS has announced the addition of important tax documents such as W-2 and 1095-A to personal online accounts, enabling taxpayers to more effectively manage and access their personal tax information, thereby simplifying the tax filing process.