The Sturbridge Taxman's Blog

Clues to help solve your financial and tax puzzles!

Taxpayers with Expiring ITINs Can Renew Number Now

Taxpayers who use an Individual Taxpayer Identification Number should check to see if their number expires this year. If it does, and they need to file a return in 2018, they should submit an application now to renew their ITIN. Doing this helps avoid tax refund and processing delays next year. The IRS issues ITINs […]

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Taxpayers Should do an End-of-Year Withholding Check-up

As the end of the year approaches, the IRS encourages taxpayers to consider a tax withholding checkup. When taxpayers take a close look to make sure the right amount of tax is withheld now, they can avoid an unexpected tax bill next year. Here are five examples of taxpayers who would benefit from a withholding […]

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Get Ready for Taxes: Save for Retirement Now, Get a Tax Credit Later; Saver’s Credit Helps Low-, Moderate-Income Workers

WASHINGTON — The Internal Revenue Service reminds low- and moderate-income workers to plan now to earn a credit on their 2017 tax return. A special tax break can help people with modest incomes save for retirement. It’s called the Saver’s Credit and it could mean up to a 50 percent credit for the first $2,000 […]

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Five Facts about Charitable Contributions

With the holidays around the corner, many people will be making donations to benefit charitable organizations. However, come tax time, the person who made the donation might also benefit. That’s because taxpayers who donate to a charity may be able to claim a deduction for the donation on their federal tax return. Here are five […]

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