If you are the victim of identity theft, then it is important to inform the IRS of your situation. This will prevent people from filing a false tax return with your name. With IRS Form 14039 – Identity Theft Affidavit, you can alert the IRS and protect yourself from tax identity theft.
You may be eligible to change your business’s tax classification if you file IRS Form 8832. It’s not for everyone – only certain businesses qualify, but it can be financially beneficial.
Find out if your business qualifies for a change in tax classification in this guide.
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.
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.
Are you a divorced family, wondering how you’ll handle taxes when claiming your dependents? The IRS law makes it pretty clear cut who gets to claim them – the custodial parent. But, if you want to relinquish those rights, you can with IRS Form 8332.