Tax Knowledge Center

General Information

How long you should keep your tax records?

Safekeeping tax records helps for future filing, amended returns and audits. With the tax filing season quickly approaching, we want...
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Tax Updates

New Tax Law Revised Family Tax Credits

More families will be able to get more money under the newly-revised Child Tax Credit, according to the Internal Revenue...
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Tax Deductions

401(k) contribution limit increases to $19,000 for 2019; IRA limit increases to $6,000

The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan...
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Tax Updates

IRS to highlight tax reform changes affecting small businesses; Small business owners, self-employed should plan now for new changes

WASHINGTON – With just a few months left in tax year 2018, the Internal Revenue Service today urges small business...
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General Information

Taxpayers who haven’t checked their withholding should use the Withholding Calculator ASAP

The IRS recommends taxpayers use the Withholding Calculator to do a “Paycheck Checkup” as soon as possible. This will help taxpayers check...
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Tax Updates

IRS issues guidance on Tax Cuts and Jobs Act changes on business expense deductions for meals, entertainment

WASHINGTON — The Internal Revenue Service issued guidance today on the business expense deduction for meals and entertainment following law...
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General Information

Here are facts to help you understand the different filing statuses

Taxpayers don’t typically think about their filing status until they file their taxes. However, a taxpayer’s status could change during...
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Tax Updates

New employer tax credit for paid family and medical leave available for 2018 and 2019

WASHINGTON — Today the IRS announced that eligible employers who provide paid family and medical leave to their employees may...
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Tax Updates

Victims of a natural disaster can visit IRS.gov for helpful resources

In the aftermath of a natural disaster, many people have questions about how the situation might affect their taxes. People...
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