When are taxes due? Deadlines for 2024 filing season U.S. income taxes are due Monday, April 15, 2024. Learn about tax deadlines and filing dates to be prepared for Tax Day.
Tax 101: Understanding the basics Understanding the tax system can help individuals and businesses navigate their financial strategies to minimize the impact of taxes.
Direct File: How it works and who is eligible The IRS has launched Direct File – a new pilot program that will allow eligible filers in 12 states to file their federal taxes for free directly with the IRS.
Tax credits: Everything you need to know A tax credit is a dollar-for-dollar amount taxpayers claim on their tax return to reduce the income tax they owe.
How to file a tax extension: Everything you need to know Not ready to file your taxes before April 15th? The good news is the IRS allows you to file an extension on your federal tax return.
Taxes on inheritance & how to avoid them See how taxes on inheritances work, the different types of taxes that apply, and how to manage that tax liability.
Gift tax: What is it and how does it work? Gift taxes are levied when a person gives away more than the annual per-recipient limit. Learn more about the exclusions, tax rates, and how to avoid gift taxes.
Unraveling the 403(b): Eligibility, withdrawal rules & taxes A 403(b) plan is similar to a 401(k) plan with a few exceptions. Here's how 403(b) plans work, as well as the pros and cons of investing in this type of retirement plan.
EITC explained: Insights on the earned income tax credit The earned income tax credit (EITC) is a federal tax credit designed to provide financial assistance to low-to-moderate-income workers. Learn who qualifies and how it works.
Understanding the tax-advantaged SEP IRA A SEP IRA — short for simplified employee pension plan — is a tax-advantaged retirement plan designed for business owners, including self-employed individuals. Learn its pros and cons to help you determine if it's the right retirement option for you.
Standard deduction: tax advantage The standard deduction is a fixed dollar amount that reduces the portion of your income on that you’re taxed. It allows taxpayers to reduce their taxable income and simplify the tax process.
What is tax liability? Tax liabilities can be a major expense for many households and individuals. Learn the basics of tax liabilities are and how you can help reduce them.