Tip Income Is Taxable and Must Be Reported
People who work in restaurants, salons, hotels and similar industries often receive tips for the customer service they provide. Tips can be taxable income, but it’s important for people working in these areas to understand important details involving tips. ...
Deadline to File Tax Returns to Get COVID Penalty Relief Postponed
Taxpayers in areas covered by certain Federal Emergency Management Agency disaster declarations may have more time to file their returns to qualify for the penalty relief under Notice 2022-36 for their 2019 and 2020 tax returns. Notice 2022-36 states, penalties for...
IRS Reminds Taxpayers That Free File Remains Open Until Nov. 17
IR-2022-179, October 14, 2022 WASHINGTON — The Internal Revenue Service reminds taxpayers today that those who requested an extension of time to file their 2021 income tax return that the deadline is Monday, October 17. IRS Free File remains open until November 17 for...
Hurricane Fiona Victims in Puerto Rico Qualify for Tax Relief
WASHINGTON — Hurricane Fiona victims in all 78 Puerto Rican municipalities now have until Feb. 15, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced today. The IRS is offering relief to any...
IRS Free File Available Through Oct. 17 but, Taxpayers Shouldn’t Wait
Taxpayers who have not yet filed their 2021 tax return, should electronically file a complete and accurate return when they are ready, rather than wait until the last minute. For those who want to prepare their tax return themselves, IRS Free File remains available...
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