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Fort Smith/Fayetteville News | 5newsonline KFSM 5NEWS | Get the local news and weather where you live from 5NEWS. Covering Fort Smith, Fayetteville, Bentonville, and all of Northwest Arkansas and the River Valley.
Taxes
Yes, the IRS recommends people in up to 22 states wait to file their tax returns
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.
Social Security
Yes, Social Security payments are taxable
You may have to pay taxes on a portion of your Social Security benefits depending on your income. Here’s what you should know.
Taxes
No, you won’t receive the increased child tax credit this year
Parents should expect a smaller refund in 2023 due to the child tax credit amount going down. Here’s what to know about income limits and other requirements.
Taxes
Yes, you can file your taxes for free
There are several options you can use to file your federal taxes, and sometimes your state taxes, for free.
Taxes
No, families can’t receive the increased child tax credit in 2023
The expanded child tax credit included in the American Rescue Plan is no longer in effect. Here’s what that means for families’ tax returns in 2023.
Taxes
Yes, House Republicans introduced a bill to create national sales tax, eliminate the need for the IRS
The FairTax Act, introduced by Rep. Buddy Carter (R-Ga.), would repeal all federal taxes, including income tax, and replace it with a national sales tax.
Taxes
Yes, there is a proposed bill to institute a national sales tax
The FairTax Act proposes a national sales tax that would eliminate the need for IRS agents, GOP members say.
Taxes
Yes, President Biden has released his tax returns
After he was elected president, Biden resumed the tradition of publicly releasing tax returns each year.
Taxes
Joe Biden has released his tax returns
Biden resumed the tradition – broken by President Trump – of publicly releasing tax returns annually.
Taxes
No, Congress did not defund 87,000 IRS agents
A bill to rescind funding for IRS staffing passed the House, but not the Senate.
Taxes
No, Congress has not defunded 87,000 IRS agents
One lawmakers claims House Republicans have defunded 87,000 IRS agents that the Inflation Reduction Act initially put in place. But that claim is not true.
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.
Social Security
Yes, Social Security payments are taxable
You may have to pay taxes on a portion of your Social Security benefits depending on your income. Here’s what you should know.
Taxes
No, you won’t receive the increased child tax credit this year
Parents should expect a smaller refund in 2023 due to the child tax credit amount going down. Here’s what to know about income limits and other requirements.
Taxes
Yes, you can file your taxes for free
There are several options you can use to file your federal taxes, and sometimes your state taxes, for free.
Taxes
No, families can’t receive the increased child tax credit in 2023
The expanded child tax credit included in the American Rescue Plan is no longer in effect. Here’s what that means for families’ tax returns in 2023.
Taxes
Yes, House Republicans introduced a bill to create national sales tax, eliminate the need for the IRS
The FairTax Act, introduced by Rep. Buddy Carter (R-Ga.), would repeal all federal taxes, including income tax, and replace it with a national sales tax.
Taxes
Yes, there is a proposed bill to institute a national sales tax
The FairTax Act proposes a national sales tax that would eliminate the need for IRS agents, GOP members say.
Taxes
Yes, President Biden has released his tax returns
After he was elected president, Biden resumed the tradition of publicly releasing tax returns each year.
Taxes
Joe Biden has released his tax returns
Biden resumed the tradition – broken by President Trump – of publicly releasing tax returns annually.
Taxes
No, Congress did not defund 87,000 IRS agents
A bill to rescind funding for IRS staffing passed the House, but not the Senate.
Taxes
No, Congress has not defunded 87,000 IRS agents
One lawmakers claims House Republicans have defunded 87,000 IRS agents that the Inflation Reduction Act initially put in place. But that claim is not true.
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