Through new elective payment and transfer options, applicable businesses, tax-exempt organizations or entities such as state, local and tribal governments can take advantage of certain tax credits – even if they don’t have taxable income. They can apply these options to
Tax credits and deductions for individuals
Tax credits and deductions change the amount of a person’s tax bill or refund. People should understand which credits and deductions they can claim and the records they need to show their eligibility. Tax creditsA tax credit reduces the income tax bill
Choosing a reputable tax preparer is vital to tax security
As people get ready for tax filing season, it’s important that they select tax return preparers with the skills, education and expertise to prepare tax forms properly. Taxpayers are ultimately responsible for all the information on their tax return, regardless of