The IRS says you should hang onto your tax documents for three years; if you get audited, that’s generally the look back period they’re allowed to cover. However, if they suspect fraud or underpayment of income tax, or if you’ve written off worthless securities, they can request up to seven years’ worth of tax records. Hang onto documents like re…[Read more]

There are various thresholds, depending on your filing status, age, and the type of income you receive. For instance, if you’re single, under 65 and your income was below $10,350 last year, you generally don’t need to file federal taxes. This IRS tool can help you figure out if you need to file a tax return.
Even if appears you don’t have to fil…[Read more]

If you procrastinated and April 18 is looking like a long shot, experts say you should file for an extension. This doesn’t get you out of paying any taxes you owe by the deadline, but it gives you an extra six months to file. An extension will keep you from getting hit with a late-filing penalty of 5% of the unpaid taxes for each month or part o…[Read more]

This IRS page has links to online forms you can print as well as a locator tool where you can find an office if you prefer to pick up forms in person or don’t have access to a printer. You might also find tax forms at your local library or post office.
If you make less than $64,000, the IRS has a page where you can file your taxes e…[Read more]

The IRS has many security measures in place to verify the accuracy of tax returns and the validity of social security numbers (SSNs) or individual taxpayer identification numbers (ITINs) submitted.

If you receive a notice from the IRS that leads you to believe someone may have used your SSN (or ITIN) fraudulently, please notify the IRS…[Read more]

Where’s My Refund ‎on IRS.gov and the IRS2Go mobile app remains the best way to check the status of a refund. Where’s My Refund will be updated with projected deposit dates for early EITC and ACTC refund filers a few days after Feb. 15. Taxpayers will not see a refund date on Where’s My Refund ‎or through their software packages until then. The I…[Read more]

It takes additional time for refunds to be processed after leaving the IRS, and for financial institutions to accept and deposit them to bank accounts and products like debit cards. Also, many financial institutions do not process payments on weekends or holidays, which can affect when refunds reach taxpayers. For EITC and ACTC filers, the…[Read more]

Beginning in 2017, if you claim the EITC or ACTC on your tax return, the IRS must hold your refund until Feb. 15. This new law requires the IRS to hold the entire refund — even the portion not associated with the EITC or ACTC. Like previous years, some tax refunds may be held if there are questions about the tax return or the IRS needs more information.

While the IRS will begin to issue EITC/ACTC refunds starting Feb. 15, you should not count on actually seeing your refund until the last week of February — if you chose direct deposit or a debit card and there are no processing issues with your tax return.