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
Dependents can bring significant tax savings for you, but you have to make sure they qualify for it, so don’t go claiming every child around you just yet!
Gambling is full of thrills and excitement, at least for those who enjoy it. What it also comes with is tons of financial implications, and that includes your taxes. If you’ve incurred in any gambling
No matter how committed you are to a cause, if someone told you “hey, donate your car!” you’d probably have some choice words for them. Well, what if we told you that you can get a pretty substantial
As we’ve explained before, dividends are a form of income distribution given to a corporation’s shareholders, and are a popular choice for investors seeking passive income. So, are dividends taxed? Wh
It’s safe to say that tax season is unnecessarily stressful, but at least it only comes around once a year, right? Think again. For millions of Americans, especially freelancers, small business owners
S Corps taxes have some of the most unique tax advantages available to small businesses and their shareholders. In short, an S Corp is a designation that the IRS provides to small businesses under Sub
Your tax return is still being processed, so does the online tool reads. It’s the stuff of nightmares for many. You check the IRS’s "Where’s My Refund?" tool only to find the ominous message: "Your re
Believe it or not, you can qualify for a tax refund and actually receive it even if you have no income to speak of (at least not taxable income, but more on that later). Here’s the catch, however: To
This should come as no surprise to anyone, but the IRS sees little difference between minors and adults when it comes to filing and paying taxes. But, do minors have to pay taxes?
Are you counting down the minutes until you get that notification that your tax refund has been deposited? Why isn’t it here now? Maybe this is the first year you actually applied for a refundable cre
As you know, U.S. citizens are subject to taxes based on their annual income. There are, however, distinct definitions of what “income” is under federal law.
Let’s say you didn’t file your tax return for a year (or a couple of years, maybe even three). The reason doesn’t really matter, maybe you forgot or didn’t have enough to think you’d have to pay taxes