IRS NEWS ROOM

A tip for teachers: Some educator expenses may be tax deductible

The educator expense deduction allows eligible teachers and administrators to deduct part of the cost of technology, supplies and training from their taxes. They can only claim this deduction for expenses that were not reimbursed by their employer, a grant or other source. Who is an eligible educator: The taxpayer must be a kindergarten through …

A tip for teachers: Some educator expenses may be tax deductible Read More »

IRS NEWS ROOM JULY 14, 2021

Effective July 15, 2021, parents with dependent children age 17 years or younger will be eligible to receive an Advance Child Tax Credit.  The monthly credit amounts will range from $250 to $300 per child, payable in 2021. Click the link to learn more. Additional information on this topic is available on the IRS.GOV website.   

What’s My Filing Status

IRS Tax Tip 2020-130, October 1, 2020 Taxpayers need to know their correct filing status and be familiar with each option. Generally, the taxpayer’s filing status depends on whether they are single or married on Dec. 31 and that determines their status for the whole year. However, more than one filing status may apply in certain situations. …

What’s My Filing Status Read More »