Author: vivek Attri

This article provides information on clean vehicle tax credits available in the United States. It covers both new and used electric vehicles (EVs) and fuel cell vehicles (FCVs). Who can benefit from this guide? Individuals considering buying a new EV or FCV Individuals who already bought a new EV or FCV in 2023 or later Individuals considering buying a used EV or FCV Businesses planning to purchase EVs or FCVs What you’ll learn: How to determine if your vehicle qualifies for a tax credit The difference in credit rules for new vehicles bought before and after January 1, 2023 How…

Taxes are due on April 15 for most states in the U.S., but Maine and Massachusetts have a later deadline of April 17 because of local holidays. This means that for nearly everyone else in the U.S., today marks the final chance to file your 2023 federal income tax returns with the Internal Revenue Service (IRS) to avoid penalties for late submissions. IRSNews Twitter handle shared the last date of April 16, 2024 via Twitter- https://twitter.com/IRSnews/status/1780234817688248589 If you haven’t yet arranged your paperwork, the fastest way to file is online, since mailing your tax returns today won’t reach the IRS…

The Internal Revenue Service (IRS) is offering a temporary position for a Bilingual Translator (Spanish) that may last up to 4 years, contingent on performance and organizational needs. This role is crucial for providing accessible tax-related information to the Spanish-speaking public, ensuring clarity and compliance with legal standards. Position Details Title: Translator (Bilingual-Spanish) Duration: 13 months initially, extendable to a maximum of 4 years (TERM NTE 13 months, MBE up to 4 years) Salary Range: $59,966 to $140,713 per year Grade Levels: GS 9 to GS 12 Application Deadline: April 24, 2024 Locations: Fresno, Los Angeles, Sacramento, San Francisco, and…

The electric vehicle (EV) tax credit is a benefit that helps make buying electric cars more affordable. In 2024, this credit has seen some updates that could affect how you claim it and how much you can save. This guide will explain these changes and help you understand if you qualify. What is the EV Tax Credit? The EV tax credit is a discount that reduces how much tax you owe if you buy an electric car. If you owe less tax than the credit amount, you won’t get money back; the credit just reduces your tax to zero. Starting…

If you’re an American living outside the US, you’ve got extra time to file your taxes this year. The usual deadline is April 15, but if you’re living or working abroad, or if you’re on military duty outside the US, you can file your taxes by June 17, 2024. Who Gets This Extra Time? Living Abroad: If your main home or work is outside the US and Puerto Rico, you can file later. Military Service: If you’re in the military and stationed outside the US and Puerto Rico, you also qualify for this extra time. When you file your tax…

Every year, the Internal Revenue Service (IRS) releases the Tax Time Guide, a resource designed to aid taxpayers in understanding the latest tax changes and ensuring accurate tax return filings. The guide is a crucial tool for anyone looking to navigate the complexities of tax season without incurring penalties and interest. Important Updates for 2024 As we approach the April 15 filing deadline, the IRS has highlighted several significant updates through its series of releases (IR-2024). These include electronic payment options to avoid late penalties and the importance of reporting income from diverse sources like digital assets and the gig…

Filing tax returns electronically (e-filing) is becoming the norm due to its convenience and efficiency. This method not only accelerates the processing of returns but also ensures taxpayers receive their refunds more rapidly and securely. In this article, we will explore the various e-filing options provided by the IRS and other services that can assist taxpayers in making the process as smooth as possible. 1. E-file with the IRS A. IRS Free File Program Free File via IRS Partners: Eligibility: Taxpayers with an adjusted gross income (AGI) of $79,000 or less can file for free using the IRS’s partner tax…

Social Security will need to borrow an extra $22.4 trillion over the next few decades to cover its costs. This is because the population is getting older. In particular, since the baby boom after World War II, birth rates have gone down and life expectancies have gone up. Now, the number of retirees is growing faster than the number of workers. The Social Security Administration says that the number of workers to benefits has gone down from 8.6 in 1955 to 2.7 in 2024. That’s a problem because Social Security is mostly paid for by a designated payroll tax. Spending…

In a compassionate response to the hardships faced by residents and businesses in Maine due to severe storms and flooding that began on January 9, 2024, the Internal Revenue Service (IRS) has announced significant tax relief measures. This extension is a beacon of support for those grappling with the aftermath of the natural disaster, providing them with much-needed breathing space to recover and rebuild without the immediate pressure of tax obligations. Tax Relief for Affected Taxpayers The IRS’s tax relief applies to individuals and businesses residing or operating within the counties designated as disaster areas by the Federal Emergency Management…

What good news for Alaskans! The Washington Examiner reports that a stimulus payment of $1,312 will be sent to eligible locals within the next 10 days. https://twitter.com/dcexaminer/status/1767367430056120544 This payment is part of the Alaska Permanent Fund Dividend, which is a yearly cash gift for locals paid for by the state’s mineral income. This will be the 42nd year of the tradition when it is given out in 2023. Who’s Eligible for the Payment? Alaskans who are eligible but haven’t gotten their 2023 or pre-2020 dividends and are listed as “Eligible-Not Paid” as of this Wednesday will get their checks by…