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
If minors don't get taxes taken out, can I be 18 again?
"Do I owe the IRS?" Well, it's always a good idea to check.
So this is like "quality control" but for my income taxes. Better than "Inspected by No. 12."
There's an alternative to regular taxes? Yeah, paying more.
Yes. It's how they got Al Capone, right? Boy, I hope no one's googling this on a work computer.
1 or 0? But the answer is, there's an art to doing your taxes.
It's sad they passed away, but they left you a house. Selling it may hit you with capital gains, but you can minimize them. What a rollercoaster.
So the ol' "Dog ate my W-2" excuse won't work?
If you're asking "where's a blank W4?", then you probably have more questions.
The Child and Dependent Care Tax Credit is a beneficial tax credit provided by the US government to assist families who have dependents that require care while a parent or guardian completes work-rela
My, how these child tax credits grow! Filing your taxes in 2021, 2022, and 2023 are very different years. (Fingers crossed that the CTC gets a growth spurt for filing in 2024.)
Section 1231 of the tax code provides guidance on the treatment of gains and losses derived from the sale or exchange of certain types of property. This section defines “1231 Property” as any deprecia