Low Income Taxpayer Clinics (LITC)
If you have a tax dispute with the IRS (such as an audit, appeal, or collection matter) and cannot afford representation, an LITC may be able to help you for free or for a nominal fee. Who They Help LITCs are independent from the IRS. They assist individuals whose income is below a certain level […]
Can’t Pay Your Taxes? Your Options
If you owe tax but cannot pay the full amount by the deadline, file your return on time anyway to avoid the failure-to-file penalty, which is often higher than the failure-to-pay penalty. Payment Options Official IRS Resource:Online Payment Agreement Application
Health Savings Accounts (HSA): Tax Benefits
A Health Savings Account (HSA) is a tax-advantaged account available to people who have a High Deductible Health Plan (HDHP). It offers a triple tax advantage that can significantly lower your tax bill. Triple Tax Benefits Contribution Limits (2025) You can contribute up to the following limits for the 2025 tax year: Reporting Requirements (Form […]
Where’s My Refund? & Troubleshooting Delays
If you are expecting a refund, you can track its status within 24 hours of e-filing (or 4 weeks after mailing a paper return). Checking Your Status Use the Where’s My Refund? tool on IRS.gov or the IRS2Go mobile app. You will need three pieces of information: Common Reasons for Delays Official IRS Resource:Where’s My […]
Amending a Return: When and How (Form 1040-X)
If you discover an error on a filed return, you may need to file an amended return using Form 1040-X. When to Amend The 3-Year Rule To claim a refund, you generally must file Form 1040-X within 3 years after the date you filed your original return or within 2 years after the date you […]
Premium Tax Credit & Form 1095-A
If you purchased health insurance through the Health Insurance Marketplace (also known as the Exchange), you may be eligible for the Premium Tax Credit (PTC) to help pay for your coverage. The Requirement to Reconcile If you received “advance” payments of the credit (APTC) to lower your monthly insurance premiums, you must file a tax […]
Cancellation of Debt: Is It Taxable?
If a lender cancels or forgives a debt you owe (like a credit card balance or mortgage), the IRS generally treats the canceled amount as taxable income . Form 1099-C You will typically receive Form 1099-C (Cancellation of Debt) showing the amount of forgiven debt in Box 2. You must report this amount as “Other […]
Is My Unemployment Income Taxable?
Yes. Unemployment compensation is fully taxable on your federal tax return . Reporting Unemployment Official IRS Resource:Unemployment Compensation
Gig Economy Taxes: Rideshare, Delivery, and Freelancing
If you earn income from “gig” work—like driving for a rideshare app, delivering food, or freelance consulting—you are considered self-employed. You must report this income if your net earnings are $400 or more . How to Report Income Deducting Business Expenses You can lower your tax bill by deducting “ordinary and necessary” business costs . […]
Do I Need to File a 2025 Tax Return?
Not everyone is required to file a tax return, but it is often in your best interest to check. The IRS sets specific income thresholds based on your age and filing status. Mandatory Filing Thresholds You must file a federal tax return if your gross income is at least the following amounts: Filing Satus Under […]