Jacob Dayan is a tax professional at IRS.com with expertise in U.S. federal and state tax law. Their articles are written to help taxpayers understand complex tax topics in plain English.
174 articles published
Failure to file your taxes, or filing them late even if you get a tax extension, can bring about bothersome and potentially serious consequences for you, from hefty fines to severe legal troubles depe
You know how it goes, one person becomes a millionaire overnight, and the rest of America turns into financial analysts. The Powerball jackpots have been nothing short of epic in the last decade, so b
A Quick Guide To The Short-Term Capital Gains Tax
For tax purposes, a dependent is anyone who relies on you for financial support and can be “claimed” on your tax return (other than your spouse, of course.) Typical examples of dependents are your chi
Taxes and good news seldom come together, but that doesn’t mean it never happens. Case in point, you might one day receive your tax transcript and find IRS code 766 on it. Well, Code 766 serves as a c
The Credit for Employer-Provided Childcare Facilities is tax credit that encourages employers to provide childcare to their employees. An employer can get a tax credit up to $150,000 per year to offse
The R stands for Retirement. The 1099 stands for "Pay your fair share, even if you're retired.'
A new tax credit to claim is something you'll never get sick of.
The year 2024 brings good news for retirement savers. The 401k contribution limits are set to increase, allowing individuals to save even more towards their golden years. These changes aim to address
And you thought e-filing your taxes was the hottest, new-fangled doodad the IRS tracked.