Tag Archives: IRS Tax

IRS Free File can make tax season easier on people filing for the first time

Many people will be filing federal tax returns for the first time this year. This includes people who don’t normally file and now need to file a 2021 return to claim a recovery rebate credit or reconcile advance payments of the child tax credit. For these taxpayers, IRS Free File may be the perfect solution.

For eligible individuals who want to prepare their own taxes, IRS Free File features electronic tax preparation software providers. This program provides free tax preparation, free electronic filing and free direct deposit, which is the fastest way to get a refund. People can also directly access IRS Free File from their mobile device using the IRS2Go app.

ExtensionTax.com
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Business owners should visit IRS.gov for help with tax actions when closing a business

Closing a business is always a difficult decision regardless of the circumstances. With this in mind, the IRS redesigned the closing a business page of IRS.gov to help business owners navigate the federal tax steps when closing a business.

Small businesses and self-employed taxpayers will find a variety of information on the page including:

  • What forms to file
  • How to report revenue received in the final year of business
  • How to report expenses incurred before closure
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