Tax Relief Research

IRS Unemployment Compensation is Taxable

IRS: Unemployment compensation is taxable; Have tax withheld now and avoid a tax-time surprise WASHINGTON – With millions of Americans now receiving taxable unemployment compensation, many of them for the first time, the Internal Revenue Service today reminded people receiving unemployment compensation that they can have tax withheld from their benefits now to help avoid...

Third quarter estimated tax payments due Sept 15

WASHINGTON – The Internal Revenue Service today reminded the self-employed, investors, retirees and others with income not subject to withholding that third quarter estimated tax payments for 2020 are due Sept. 15. Taxes are paid as income is received during the year through withholding from pay, pension or certain government payments such as Social Security...

IRS 1040-X Tax Form

Filing IRS Amended Returns Have Gone Digital Learn How

Now available: IRS Form 1040-X electronic filing Major IRS milestone helps taxpayers correct tax returns with fewer errors, speeds processing WASHINGTON — Marking a major milestone in tax administration, the Internal Revenue Service announced today that taxpayers can now submit Form 1040-X electronically with commercial tax-filing software. As IRS e-filing has grown during the past 30...

2020 Home Office Tax Deductions

2020 Home Office Tax Deduction

Worked from home in the year of 2020? Of Course you did! What you need to know about the home office deduction... The home office deduction allows qualifying taxpayers to deduct certain home expenses on their tax return. With more people working from home than ever before, some taxpayers may be wondering if they can...