IRS form 8821 with computer keyboard next to notebook

IRS Form 8821 (How to Give Tax Information Authorization to Another Person)

Do you know how to use the IRS form 8821 or are you confused?

As a taxpayer, have you ever wished that you could just pass the reins over to an accountant or other tax professional to help you navigate tax season?

Or as a Tax Preparer, wouldn’t it just be easier if you were able to request the information you needed from the IRS in order to help your client?

If you’ve ever felt like you were in either of these situations then you probably have a need for IRS Form 8821. This form was created to help make the communication process more transparent between taxpayers, tax professionals, and the IRS.

In this article, we’ll take a deeper look at what exactly the IRS Form 8821 is and (more importantly) how you can use it to your advantage.

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How to fill out IRS form 8863 students in college studying

Understanding IRS Form 8863: Do I Qualify for American Opportunity Credit?

Did you know that Uncle Sam can help you pay for your post-secondary education? That’s right. With IRS Form 8863, you can save up to $2,500 in tax liability for education expenses for you or your dependent student.

Known as the American Opportunity Credit, this credit is applicable for those who make up to $90,000 in filing individually or up to $180,000 if married filing jointly.

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Tax Deductions for nurses and health care professionals

IRS Form 8965: Do You Have to Pay a Penalty for Not Having Health Insurance?

Are you trying to figure out if the IRS Form 8965 applies to you?

The Affordable Care Act requires every American to have qualified healthcare coverage. If you didn’t have coverage, you may owe a penalty for the months you went without insurance. Fortunately, there are exemptions many Americans can take advantage of to avoid the penalty.

Please note, this applies only to taxpayers completing tax returns for previous years (2018 and prior), as the Tax Cuts and Jobs Act eliminated the requirement.

If you qualify for an exemption, you must include IRS Form 8965 with your tax returns. Here’s how it works.

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How do I request tax return from IRS using Form 4506 T with black lady on computer

IRS Form 4506-T: How to Get a Copy of Your Tax Return

Are you trying to figure out how to use the IRS Form 4506-T?

As you may know, the Internal Revenue Service (IRS) is an agency of the United States federal government that controls tax laws. It manages the tax return process, different tax services, and the implementation of tax laws.

The IRS also saves information of taxpayers such as yourself and provides the info whenever you need it. You may need your tax-related details due to numerous reasons.

Mostly, it is needed when you are interested in taking a loan/mortgage and the mortgage provider has to verify your income source.

The IRS provides different forms that taxpayers can use to retrieve different information regarding their tax. One of them is the IRS Form 4506-T in which the letter ‘T’ stands for transcript.

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Lady putting IRS form 8949 in the mailbox

What is the IRS Form 8949 and Do You Need It?

Are you worried about whether or not you need to fill out the IRS form 8949?

Buying and selling stocks is a great way to increase your net worth for short and long-term goals. When you sell stocks (or any asset for that matter), you affect your tax liability. Just like money you make working, you must pay taxes on any money you earn.

Not every sale earns money, though. Many investors sell stocks at a loss whether to offset their capital gains or because they have no choice but to sell at a loss – as we all know, life is unpredictable.

When you buy and sell stocks for a profit or loss, the IRS wants to know about it on Form 8949. Every investor must complete one. Here’s how it works.

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