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Taxes

Yes, the tax deadline for people who filed extensions is on Oct. 16

Scams

No, the IRS is not sending emails to taxpayers about a third round of economic impact payments

The IRS does not contact taxpayers through email and stimulus checks are no longer being issued in 2023. This is a phishing scam.
Scams

No, the IRS is not sending emails to taxpayers about a third round of economic impact payments

The IRS is not sending emails to taxpayers about a third round of economic impact payments because it does not initiate contact via email. This is a phishing scam.
Money

No, workers aren’t eligible for up to $26,000 through the Employee Retention Credit

The ERC is a tax credit for businesses. It doesn’t provide up to $26,000 to people who worked through the COVID pandemic.
Taxes

No, the IRS is not changing tip reporting requirements to crack down on waiters

Headlines falsely claim the Biden administration is sending the IRS after service workers. Here’s what’s actually happening.
Money

No, taxpayer money is not being used to cover deposits at SVB

Silicon Valley Bank failed on March 10. The U.S. government announced all of the bank’s depositors would be made whole, and no taxpayers would have to foot the bill.
Immigration

Yes, some undocumented workers pay taxes

Estimates show undocumented workers contribute billions to Social Security through payroll tax deductions, along with paying other federal and state income taxes.
Taxes

Some undocumented immigrant workers pay income taxes

Estimates show undocumented workers contribute billions to Social Security through payroll tax deductions, along with paying other federal and state income taxes.
Electric Vehicles

Not all electric vehicles are eligible for $7,500 Inflation Reduction Act tax credit

The Inflation Reduction Act includes tax credits for electric vehicles, but there are restrictions based on the price of the car and where it’s made.
Taxes

No, filing a tax extension doesn’t increase your risk of being audited

If you need more time to file your 2022 taxes, a tax extension won’t increase your risk of being audited, the IRS and two tax professionals told VERIFY.
Taxes

VERIFYING what happens if you don’t file or pay your taxes on time

The IRS penalizes taxpayers for both filing late and paying late. We VERIFY how you can avoid or reduce late penalties and interest.
Taxes

Social Security benefits are taxable for some people, depending on their income

Up to 85% of your Social Security benefits are counted as taxable income if you meet certain requirements.