En esta noticia
The Internal Revenue Service (IRS) published a tax tip on its official page in which it reminds U.S. taxpayers that some common summer activities often affect the next tax season.
These are all kinds of common and routine activities during the summer months that can generate tax changes that taxpayers must report when filing their tax return.
IRS will investigate one by one all taxpayers who do this: What summer activities are included?
According to the IRS, among the summer-related activities that may have tax consequences are:
- Seasonal jobs such as summer jobs for students or temporary workers
- Independent jobs or freelance work
- Income earned through apps and payment platforms when goods or services are involved
- Selling or exchanging digital assets to finance expenses or vacations
- Business trips during the summer
- Marriages and changes in marital status
- Summer camps for children
- Moves or changes of address
Not all of them mean the same thing, nor does it mean that the IRS will conduct an audit if they appear in the taxpayer’s history. However, they can generate income, deductions, credits, or changes in tax status.
What should you do if you carry out this type of activity?
If any of these activities are carried out, the taxpayer should keep all related documentation since it may be required when filing the tax return:
- Receipts
- Proof of payment
- Tax forms
- Income records earned from temporary jobs, services rendered, or digital platforms
If the activity is related to an important personal change such as marriage, the IRS advises updating the name or address as soon as possible with the Social Security Administration (SSA) and other federal and state agencies before a problem arises.
If these are activities for children such as summer camps, they should keep the receipts for those expenses, as they may be eligible to claim the Child and Dependent Care Credit and reduce their tax burden.