Internal Revenue Service

Income Tax

What Is Earned Income Tax Credit (EITC)?

Geared primarily towards low-to-middle income, working individuals and families, the Earned Income Tax Credit (EITC) is a federal benefit able to provide relief to those who meet specific criteria, by reducing the amount of tax owed and by increasing the amount of tax monies refunded, as determined after filing. Both single and married people can benefit from EITC, regardless of whether or not they have children or other dependents.

04/01/2015

Small Business Tax Tips, Tax Help, Tax Tips, Small Business

Small Business Tax Tips: Are You Filing The Correct Forms?

It’s easy to make a mistake on your taxes, especially if you are a new business owner or running a small business. Before you file, dot your i’s and cross your t’s by making sure to use the correct tax forms.

03/15/2015

Being Uninsured In America Will Cost More In 2015 (Photo by Joe Raedle/Getty Images)

Being Uninsured In America Will Cost More In 2015

Being uninsured in America will cost you more in 2015.

12/29/2014

(credit: Justin Sullivan/Getty Images)

IRS Scammers Stealing Millions Through Phone Calls Demanding Back Taxes

Aggressive calls from scammers claiming to be from the IRS have conned more than $5 million from U.S. taxpayers as the victims are told they owe thousands of dollars in back taxes and are threatened with repossession and jail time.

09/06/2014

IRS Director of Exempt Organizations Lois Lerner testifies before the House Oversight and Government Reform Committee on May 22, 2013. (Photo by KAREN BLEIER/AFP/Getty Images)

IRS Says It Has Lost Emails From 5 More Employees

They are part of congressional probes into the treatment of conservative groups that applied for tax-exempt status.

09/05/2014

(credit: KAREN BLEIER/AFP/Getty Images)

Obamacare To Complicate Tax Refunds, Create ‘Hefty Repayment Liabilities’

But if you count on your tax refund and you’re one of the millions getting tax credits to help pay health insurance premiums under President Barack Obama’s law, it’s not too early.

08/24/2014

A federal judge is ordering the IRS to explain under oath how it lost a trove of emails to and from a central figure in the agency's tea party controversy. (credit: KAREN BLEIER/AFP/Getty Images)

Federal Judge Orders IRS To Explain Lost Emails

A federal judge is ordering the IRS to explain under oath how it lost a trove of emails to and from a central figure in the agency’s tea party controversy.

07/10/2014

(credit: Chip Somodevilla/Getty Images)

Emails: IRS Official Sought Audit Of Top GOP Senator

Congressional investigators say Lois Lerner expressed interest in an audit of Sen. Charles Grassley.

06/25/2014

The Internal Revenue Service is offering to waive steep penalties for Americans living abroad who haven't been paying their U.S. taxes. (Photo by Win McNamee/Getty Images)

IRS To Waive Penalties For Some American Overseas Accounts

The Internal Revenue Service is offering to waive steep penalties for Americans living abroad who haven’t been paying their U.S. taxes.

06/18/2014

(credit: KAREN BLEIER/AFP/Getty Images)

Report: Consumers Lying On Obamacare Application Could Face $250,000 Fine

People who are caught lying on their Obamacare applications in an effort to obtain bigger taxpayer-funded subsidies could face a maximum fine of $250,000.

05/22/2014

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