With student loan payments resuming in October 2023, more taxpayers will qualify to take the Student Loan Interest Deduction. Click the link below for more information on the deduction, and be sure to provide a copy of your 1098-E when you submit your tax information.
Required minimum distributions (RMDs) are the minimum amount you must annually withdraw from your retirement accounts (e.g., 401(k) or IRA) if you meet certain criteria. The SECURE 2.0 Act requires that you must take your first RMD by April 1 of the year following the year you turn 73.
For tax year 2023, the Child Tax Credit (CTC) is worth up to $2,000 per qualifying child. The credit will be reduced if your adjusted gross income is greater than $400,000 if you file married filing jointly ($200,000 if you file any other way). To see if you qualify, visit the website below.
IRS scams occur when criminals pretend to act as IRS agents, collection agencies, or other entities and reach out to taxpayers via phone calls, text messages, mail, or email to obtain information that can be used to steal taxpayers' identities or money. Avoid IRS scams by learning how to identify red flags by clicking the link below.
Many taxpayers contribute items to organizations like Goodwill or Salvation Army. The IRS allows donors to claim deductions for donated items in good (or better) condition. To help you determine the value of the donated items, Goodwill has provided a donation value guide that can be accessed by clicking the link below.