As the cost of higher education continues to soar, many families find themselves grappling with the daunting task of saving for their children's future academic endeavors. 529 plans are a popular—and potentially powerful—option for college savings. Put simply, 529 plans are tax-advantaged education savings vehicles, where the funds are for college only. However, like any financial instrument, 529 plans come with their own set of advantages and limitations.

While more than 90% of taxpayers choose to get refunds by direct deposit into their bank account, there are still many Americans who prefer checks. Nearly 10 million paper refund checks went out last year, according to the IRS. 

But these refunds delivered by mail have become a popular target for check fraud, according to a Treasury Department report last year.

The IRS knows that understanding and meeting tax obligations is vital to the success of all businesses, especially a new one. IRS.gov has the resources and information to help people through the process of starting a new business. 

Here are some tips for new entrepreneurs.

The American Opportunity Tax Credit, often referred to as AOTC, is a tax credit provided by the U.S. government to assist eligible taxpayers in paying for qualified higher education expenses. The credit aims to make higher education more affordable for students and their families.

Owing back taxes can be a stressful and overwhelming situation. Whether you've fallen behind on your income taxes or have unresolved tax debt from previous years, it's essential to address the issue promptly and take the necessary steps to resolve it.

It’s important that U.S. citizens and resident aliens living abroad understand their tax obligations.

Their worldwide income -- including wages, unearned income and tips -- is subject to U.S. income tax, regardless of where they live or where they earn their income. They also have the same income tax filing requirements as U.S. citizens or resident aliens living in the United States.