Taxes
Tax Central: Your essential source for the latest in tax laws, filing tips, and deductions. Ideal for navigating complex tax requirements with ease.
Overview of Federal Withholding and Estimated Tax for Individuals
Pay federal tax during the year via withholding (Form W-4/W-4P) or quarterly estimated payments (Form 1040-ES). Deadlines are Apr, Jun, Sep, and Jan; use safe-harbors to avoid penalties.
Understanding Tax Filing Deadlines and Extensions for Individuals
Tax returns are due April 15; Form 4868 filed by that date grants a six-month filing extension to…
Disallowance Rules for EIC, CTC, and AOTC: When 8862 Is Required
The IRS issues Disallowances for non-math denials of EIC, AOTC, CTC/ACTC/ODC, blocking claims for 2 years for reckless…
Understanding Due Diligence Rules for EIC, AOTC, and CTC Credits
IRS enforcement targets paid preparers for refundable credits and HOH status: $600 per failure for 2023 returns filed…
Claiming Excess Social Security and Tier 1 RRTA Refunds
If combined withholding from multiple employers exceeds Social Security or Tier 1 RRTA wage bases, claim the excess…
Understanding the New and Used Clean Vehicle Credits (Updated Rules)
Follow this guide to confirm MAGI and vehicle eligibility, collect dealer-reported VIN and battery details at sale, take…
Energy Efficient Home Improvement Credit: $3,200 cap through 2032
From 2023–2032, the Energy Efficient Home Improvement Credit covers 30% of qualifying upgrades, up to $3,200 annually ($1,200…
Residential Clean Energy Credit Ends 2025: What Qualifies
The 30% Residential Clean Energy Credit now ends for homes on December 31, 2025. Installations must be placed…
ACA: $0 Penalty for Not Having MEC and Reporting Essentials
Although the ACA penalty is $0 federally after 2018, MEC reporting continues. Forms 1095-A (due Feb 1), 1095-B…
Understanding the Foreign Tax Credit: Form 1116 Rules and FEIE Limits
The FTC lets U.S. taxpayers offset U.S. tax by foreign income taxes paid on income included on their…