If this is upcoming tax season will be your first year paying taxes, this is a great time of year to brush up on your tax knowledge. Taking some time to understand the basics of taxes, might make it easier when it’s time to file.
The IRS offers the Understanding Taxes Program which goes through key tax terms and even the history, theory, and application of taxes in the United States. Learning about the tax jargon, or the key terms, makes filing out your tax form much easier because you understand what is being asked of you.
This free online tool features 38 lessons that can help anyone understand taxes holistically. There is no required registration to access the program and you can go through the lessons at your own pace. The Understanding Taxes Program is available for people of all ages and levels of education.
Even if this isn’t your first year filing taxes, go through the lessons and test your knowledge. Tax information changes often and it won’t hurt to refresh your knowledge base.