Tax Knowledge Center

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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