Freelancers must report all taxable income, calculate their own Social Security and Medicare contributions, document ...

IRS Free File, which offers free guided tax preparation for lower-income taxpayers and free electronic fillable forms for all ...

What is self-employment tax? The federal self-employment tax is composed of Social Security and Medicare taxes, which are also known together as the Federal Insurance Contributions Act (FICA). For ...

Janet Berry-Johnson, CPA, is a freelance writer with a background in accounting and income tax planning and preparation for individuals and small businesses. Her work has appeared in Business Insider ...

・You usually have up to 3 years to amend your tax return to fix errors. ・Use Form 1040-X to report the changes to the IRS. ・You must include any forms that changed (W-2, 1099, 1098-T). You filed your ...

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Filing taxes is a daunting experience for many Americans, whether it's their first time or they've been doing it for decades. The digital age has made it a lot easier to download your tax documents ...

If you're gearing up to file your tax return this year but are afraid you're going to run out of time, it's possible to file for an extension. This can give you six additional months to get your ...

Most married couples will come out ahead by filing jointly, but filing separately may be the better choice for some.

Realizing you made a mistake on your tax return? Don’t panic. If you overlooked a valuable deduction, say, or forgot to report some of your income, you can simply file an amended return. Amending your ...