Key Energy Tax Credits Are Expiring

Key Energy Tax Credits Are Expiring

Expiring Credits and Deductions Energy efficient home improvement credit (Section 25C) will not be allowed for any property placed in service after December 31, 2025 Residential clean energy credit (Section 25D) will not be allowed for any expenditures made after...
What You Need to Know About Social Media Tax Scams

What You Need to Know About Social Media Tax Scams

The IRS is issuing a major warning about a rise in fraudulent tax scams spreading on social media. These schemes, promoted by scammers posing as tax experts, are tricking people into filing false claims for tax credits they don’t qualify for, such as the Fuel...
Tax Implications of Gambling

Tax Implications of Gambling

Whether you’re hitting the slots in Vegas, buying scratch-offs at the gas station, or playing online poker from your couch, there’s one thing all gamblers have in common: Uncle Sam wants his cut. Yep, gambling winnings are taxable. But don’t worry—here’s...
Understanding the Taxation of Social Security Benefits

Understanding the Taxation of Social Security Benefits

Social Security benefits play a vital role in retirement planning for many Americans, providing financial stability during their later years. However, a common question arises: Are Social Security benefits taxable? The answer depends on several factors, including...
What to Do If You Haven’t Received Your W-2 Form

What to Do If You Haven’t Received Your W-2 Form

When Should You Expect Your W-2? By law, employers must send out IRS Form W-2, Wage and Tax Statement, by January 31. If you had multiple employers during the tax year, you should receive a separate W-2 from each one. This essential tax document reports your total...