Taxpayers should consider claiming tax credits for which they might be eligible when completing their federal income tax returns, advises the IRS. A tax credit is a dollar-for-dollar reduction of taxes owed. Some credits are refundable - taxes could be reduced to the point that a taxpayer would receive a refund rather than owing any taxes.
Many times we experience significant life events that have a tax impact too! This page is designed to help you while explaining to taxpayers the tax impact of these events.
Insights into the re-employment of veterans and the restoration of retirement plan benefits, as affected by the Uniformed Services and Reemployment Rights Act (USERRA) and the Veterans and Sailors Civil Relief Act (SSCRA).
Check out the latest changes on our published tax forms and publications and get a heads up on tax law changes that will be reflected in future revisions of tax products.