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  2. Internal Revenue Service - Wikipedia

    en.wikipedia.org/wiki/Internal_Revenue_Service

    Not long after, the bureau was renamed the Internal Revenue Service. [23] In 1954 the filing deadline was moved from March 15 to April 15. The Tax Reform Act of 1969 created the Alternative Minimum Tax. In 1969, Richard Nixon directed the IRS to audit his political opponents, as well as opponents of US involvement in the Vietnam War. The IRS's ...

  3. 5 red flags that can trigger a tax audit from the IRS - AOL

    www.aol.com/finance/5-red-flags-trigger-tax...

    Another issue that will catch the IRS's attention: Not filing Form 8253 for cash charitable donations over $500. High-income earner The chances of being audited increase with your income bracket.

  4. Form W-2 - Wikipedia

    en.wikipedia.org/wiki/Form_W-2

    This information is used by the employee when they complete their individual tax return using Form 1040. [3] When an employee prepares their individual tax return for a tax year, the withholding amount from Form W-2 is subtracted from the tax due. It is possible to receive a refund from the IRS if more income was withheld than necessary. [3]

  5. Tax Cuts and Jobs Act - Wikipedia

    en.wikipedia.org/wiki/Tax_Cuts_and_Jobs_Act

    The Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018, [2] Pub. L. 115–97 (text), is a congressional revenue act of the United States originally introduced in Congress as the Tax Cuts and Jobs Act (TCJA), [3] [4] that amended the Internal Revenue Code of 1986.

  6. Taxes 2023: Here are the biggest tax changes this year - AOL

    www.aol.com/finance/taxes-2023-biggest-tax...

    In the 2022 tax year, many of those tax breaks expired. ... The maximum amount that single filers with no children can get from the EITC is $500, down from $1,500 last year when the credit’s ...

  7. Tax credit - Wikipedia

    en.wikipedia.org/wiki/Tax_credit

    The credit is a dollar-for-dollar reduction of tax liability, and may be listed on Line 51 of Form 1040. For every $1,000 of adjusted gross income above the threshold limit ($110,000 for married joint filers; $75,000 for single filers), the amount of the credit decreases by $50.

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