When making donations to assist victims of last weekend’s terrible tragedy, there are simple steps taxpayers can take to ensure their hard-earned money goes to legitimate charities. IRS.gov has the tools taxpayers need to quickly and easily check out the status of charitable organizations. While there has been an enormous wave of support across the country for the victims and …

Many parents who work or are looking for work must arrange for care of their children under 13 years of age during the school vacation. Here are five facts to know about tax credits available for child care expenses. The Child and Dependent Care Credit is available for expenses incurred during the lazy hazy days of summer and throughout the …

Even though the tax deadline has come and gone, scammers continue to use varied strategies to trick people, in this case students. In this newest twist, they try to convince people to wire money immediately to the scammer. If the victim does not fall quickly enough for this fake “federal student tax”, the scammer threatens to report the student to …

  Combat pay is partly or fully tax-free. Reservists whose reserve-related duties take them more than 100 miles from home can deduct their unreimbursed travel expenses on Form 2106 or Form 2106-EZ, even if they don’t itemize their deductions. Eligible unreimbursed moving expenses are deductible on Form 3903. Low-and moderate-income service members often qualify for such family-friendly tax benefits as the Earned …

The FLSA ensures minimum wage and overtime pay protections for most employees covered by the Act. Some workers, including bona fide executive, administrative, and professional employees, are exempt from those protections. There are tests to determine which employees are EAP employees. But even if an employee meets the tests to be exempt they also must meet a minimum salary threshold. …

With the May 16 filing deadline facing many tax-exempt organizations, the IRS cautioned these groups not to include Social Security numbers (SSNs) or other unneeded personal information on their Forms 990, and consider taking advantage of the speed and convenience of electronic filing. Form 990-series information returns and notices are due on the 15th day of the fifth month after …

Tax Information for Students Who Take a Summer Job Many students take a job in the summer after school lets out. If it’s your first job it gives you a chance to learn about the working world. That includes taxes we pay to support the place where we live, our state and our nation. Here are eight things that students …

Why Keep Records There are many reasons to keep records. In addition to tax purposes, you may need to keep records for insurance purposes or for getting a loan. Good records will help you: Identify sources of income. You may receive money or property from a variety of sources. Your records can identify the sources of your income. You need this information …

The contribution limit for 2016 is $5,500, or $6,500 if you’re age 50 or older. Your Roth IRA contributions may also be limited based on your filing status and income. See IRA Contribution Limits. Is my IRA contribution deductible on my tax return? If neither you nor your spouse is covered by a retirement plan at work, your deduction is allowed …

The effort, being done in coordination with the Mortgage Bankers Association (MBA), is a crowdsourcing competition open to the public. The competition will engage teams of designers, developers, and innovative thinkers across the U.S. to envision options for taxpayer interactions. “Crowdsourcing is a new activity for the IRS, but we believe working with citizens and the private sector will help …