IRS resources

The Form W-2 is a wage and tax statement that details how much you were paid by an employer during the year. If you have (or had) a job at any time of the year, you should receive a Form W-2 from each employer the following January containing income information to report on your tax return. Most Americans work for an employer. Almost 146 million tax returns reported wage income as of 2017.

A 1040 tax form is the main form for a tax return that gets filed with the IRS when you are a US citizen or resident with taxable income to report.

Starting a new job and going through other major life events often mean that you’ll have to think about filling out or revising your withholdings. In 2020, the IRS made significant changes to Form W-4 to help individuals withhold federal income tax more accurately from their paychecks. Read on to learn when what the major changes are, and how paying the right amount in taxes as you go could be the difference between a tax refund or a tax bill when you file your federal and state returns.

Getting any notice from the IRS can cause confusion and stress. It’s good that a CP14 notice is intended to be more informational, and less scary, for taxpayers just like you. So, don’t panic, and allow us to better explain what these unfamiliar tax terms are, and how it can affect your taxes. Keep reading to understand what your CP14 notice means.  

IRS notices are letters sent to inform taxpayers of important tax information. Each one is different, but we can explain what the CP11 is about.

With identity theft, data breaches, and tax scams (read our article about those here) becoming more and more common, protecting your personal information should be a top priority. Thankfully, the IRS thinks so too.

Most Americans have encountered a scammer, whether it’s through an email from a fake foreign prince asking for money or a phone call from your “IT department” trying to get your information by convincing you there’s a virus on your computer. Scams from people posing as IRS representatives are becoming more common. Thousands of people fall victim to such scams every year, losing money and valuable time. A small dose of knowledge can prepare you to recognize a tax scam if you’re targeted.

It is a federal crime to commit tax fraud and you can be fined substantial penalties and face jail time. Lying on your tax return means you committed tax fraud.

Tax evasion can lead to fines and criminal charges while using the tax laws to minimize your taxes is often encouraged. So, what's the difference between them?