Taxes
Need to learn about U.S. taxes? We’ve got everything you need – all in one location.
Latest Articles
Child Tax Credit 2023 – Can You Claim CTC With No Income?
Taxpayers with qualifying children can generally claim a child tax credit (CTC) when they file their annual tax return. One of the most common questions each year is "Do I Need Income to Claim the CTC?"
TurboTax 2022 Form 1040 – Capital Loss Carryovers on Schedule D
This article discusses how and individual can enter their capital loss carryovers into TurboTax. It's important individuals track these carryovers to be able to use them against future capital gains.
TurboTax 2022 Form 1040 – Schedule E Royalty Income
Passive royalty income is generally treated as portfolio income and reported on Schedule E of an individual's Form 1040 tax return. This article reviews the steps to enter royalty income into TurboTax.
TurboTax 2022 Form 1040 – Publicly Traded Partnerships (PTP) Schedule K-1
If an individual invests in a publicly traded partnership (PTP) which reports their allocable share of the income. The individual uses this information to complete their own Form 1040 tax return.
The PATH Act Delays Your Tax Refunds – What You Need to Know…
The PATH Act is a piece of U.S. legislation which prohibits the IRS from issuing tax refunds before a certain date if the taxpayer claims either the Earned Income Credit (EIC) or Child Tax Credit (CTC). This article discusses the details...
Child Tax Credit Denied – What is IRS CP79A Notice?
An eligible taxpayer can claim a CTC if they have a qualifying child. If a CTC claim is denied, the IRS may send the taxpayer a CP79A notice.
2023 IRS Tax Refunds – Why is My Tax Refund Lower Than Last Year?
Tax refunds for individuals may change from year to year. Many factors impact the amount of your tax refund, and this article discusses some of those factors, and why your tax refund may be lower than it was last year...
2023 Tax Season Updates on Refund Checks
Tax refunds are on the way! An update on the 2023 tax season.
TurboTax 2022 Form 1040 – How to Record Tax Extension Payments
Did you file a Form 4868 extension request for your Form 1040? If you made a tax payment with your extension, you need to account for that payment. This video walkthrough shows how to record an extension payment in TurboTax.
My Form 1099 is Wrong – What To Do Next?
Sometimes you might receive a Form 1099 with incorrect information. So what do you do next? Here are some options...
Form 1040 Filing Deadlines for US Expats
A U.S. citizen is required to file an income tax return even if they do not live inside the United States. Expats have different tax filing deadlines when they live outside of the U.S.
TurboTax 2022 Form 1040 – How to Record HSA Contributions on Form 8889
If an individual makes a contribution to their health savings account (HSA) during the tax year, they are generally allowed a tax deduction for the contribution. This article demonstrates how to record those amounts in TurboTax.
TurboTax 2022 Form 1040 – How to Apply Tax Refund to Next Years’ Taxes
When an individual is due a tax refund from the IRS or state, they generally have the option to either receive the cash or apply the refund to next year's taxes. This walkthrough shows how to apply a tax refund in TurboTax.
IRS Forms 1099 – Wait For the Corrected 1099 Before Filing Your Taxes
Many taxpayers rush to file their taxes once they receive their W-2s and 1099s. It may be a good idea to wait. This article discusses corrected 1099s and how they impact your taxes.
TurboTax 2022 Form 1040 – Home Office Deduction for a Homeowner
Business owners and self-employed taxpayers may be entitled to a home office tax deduction when they work from their home. This tutorial demonstrates how to enter those numbers into TurboTax.