What You Need to Know About Filing as Head of Household Who Can File as Head of Household? To file as a head of household, you have to meet a few guidelines set by the IRS.… Filing As Head Of Household – Frequently Asked Questions
The Internal Revenue Service announced today that it is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for… IRS waives penalty for many whose tax withholding and estimated tax payments fell short in 2018
Self-employed individuals, unlike employees, don’t have someone withholding Social Security or Medicare (FICA) taxes along with pre-payments toward their federal (and state, where applicable) income tax from their wages during the year. They are not… Self-Employment Tax
The IRS has announced that the 2019 tax filing season will begin on January 28, 2019. Tax preparation companies will be participating in the controlled launch of the e-file system (HUB Testing) with the IRS… IRS Announces the Start of E-File Test Batch(HUB Testing) for 2019
The IRS announced the 2019 opening day of its Free File program, which provides free electronic filing to qualifying taxpayers, generally those who earned $66,000 or less last year. The program is opening before the… IRS Free File is Open Today!
WASHINGTON ― Despite the government shutdown, the Internal Revenue Service today confirmed that it will process tax returns beginning January 28, 2019 and provide refunds to taxpayers as scheduled. “We are committed to ensuring that… Tax Filing Season to Begin January 28, 2019
The White House will order the IRS to pay income tax refunds despite the government shutdown, Russ Vought, acting director of the Office of Management and Budget, said at a briefing with Vice President Mike Pence. The IRS… IRS Will Pay Tax Refunds During Government Shutdown
Keeping up with the constantly changing tax laws can help you get the most benefit out of the laws and minimize your taxes. Many tax parameters, such as the standard deduction, contributions to retirement plans,… Changes that might affect your 2019 Tax Return
Where’s my Refund? Updates Calendar for 2019 Return Accepted Updates – This is the intake process of your tax return meaning once you file your income Tax Return whether it be E-Filed or Mailed in on… 2019 Tax Refund Updates Calendar
Are you wondering how the new IRS tax law changes will affect you? Be prepared with need-to-know answers to all your tax reform questions. We’ve been keeping track of all the tax law changes so… 2018 Tax Law Changes
A new transcript format is now in place to better protect your information from identity theft. This new transcript partially masks the personally identifiable information of everyone listed on the tax return. All financial entries… IRS Changing Format of Tax Transcripts
The IRS will begin accepting tax returns on January 28, with nearly 155 million individual tax returns expected to be filed in 2019. The nation’s tax deadline will be April 15 this year. Many software companies… 2019 IRS E-File Tax Refund Direct Deposit Dates
A cycle code is an 8 digit code found on your account transcripts. The cycle code indicates the day your account posted to the IRS Master File. This date indicates the 4 digits of the… 2019 Tax Transcript Cycle Code Charts
The IRS Modernized e-file, the system that processes electronically-filed business returns, will shut down after December 27, 2018, so the agency can perform annual maintenance and to enable the IRS to reprogram the system for… IRS Modernized E-File to Close December 27, 2018
Funding for many government agencies expired at midnight on Friday, which triggered a partial shutdown of the federal government. The IRS is affected by the shutdown because it is not already funded through September 2019.… The Government Shutdown Could Halt Many IRS Operations
What are tax preparation options? There are multiple tax preparation options you can choose from. Once you’ve gathered all the tax documents needed, you can now decide if you want to file your taxes by… Tax Preparation – Frequently Asked Questions
The IRS faces a particularly challenging rollout to the 2019 filing season, best summarized in four words: more work, fewer employees. President Donald Trump signed the latest tax reform law in December 2017, but the… IRS budget cuts strain rollout of 2019 tax filing season
Yes, the ACA’s individual mandate penalty is still in effect, and will continue to be in effect in 2018. If you’re uninsured in 2018 and not eligible for an exemption, you’ll owe a penalty when… 2018 is the Final year for the Insurance Coverage Penalty
Integrity & Verification Operation (IVO) department provides leadership and direction to employees responsible for fraud detection and prevention, revenue protection, and account correction. Integrity and Verification Operation (IVO) is the department designated to screen individual… The IRS Integrity and Verification Operations
When you’re doing your income taxes, you will require a number of forms and probably the most significant one is the W2 form. Every business that you were employed at in the course of the… How Do You Get Your W-2 Online?
Taxpayers generally want to avoid filing errors because they lead to tax problems and inconveniences. There are times when a taxpayer might experience tax filing mistakes due to complicated and sometimes confusing forms, calculations, and filing… Tax Problems? Avoid These Tax Filing Mistakes
Are you wondering who can qualify as a dependent on your tax return? This is your guide to assessing whether one of your family members may be able to be classified as a qualifying dependent… What is the Dependent Tax Credit, Deduction and Exemption?
The Treasury Department and the Internal Revenue Service have announced a redesign of the 1040 individual income tax return form that is being touted as one that will fit on a single postcard. The new,… New form 1040 for 2019 Tax Season
Everybody knows the old saying about death and taxes, yet a surprising number of people fail to file an income tax return. If you’re one of those people and you think you’ll be able to… What Are The Penalties For Not Filing Your Tax Return?
If you’re married, you have the option to file one or two tax returns every year. While most people file together on one return due to the increased standard deduction, in some situations, it makes… Married Filing Separately Vs. Married Filing Jointly
After months of intense negotiations, the President signed the $1.5 trillion tax reform legislation known as the “Tax Cuts And Jobs Act Of 2017” (the “New Law”) on December 22, 2017 – the most significant tax… Tax Reform
The Premise It’s one of the most important questions that every American tax filer has to answer: should I itemize or take the standard deduction instead? With the Tax Cuts and Jobs Act of 2017 making some… Standard Deduction vs Itemized Deduction – What’s The Difference?
Where’s My Refund? is an IRS online tool you can use to check the status of your tax return within 24 hours after the Internal Revenue Service has received your e-filed tax return or four… What Day Does Where’s My Refund Update?
Many taxpayers, at risk for having too little tax withheld from their pay, can avoid a surprise year-end tax bill by quickly updating the withholding form they give to their employer, according to the Internal… Check withholding, make estimated payments now
Every year, the IRS works a large batch of ”unpostable” tax returns. An Unpostable tax return happens when your tax return is unable to be posted to the master file. An unpostable condition occurs if… Unpostable Tax Return
More families will be able to get more money under the newly revised Child Tax Credit, according to the Internal Revenue Service. The Tax Cuts and Jobs Act (TCJA), the tax reform legislation passed in… More families will be able to get more money under the newly-revised Child Tax Credit
Before you start your search, you might be wondering about all the different kinds of tax pros out there or who can do your taxes. Basically, anyone can call himself a tax preparer and file… Find a Tax Return Preparer
Systemic verification is one element of the IRS’s Return Review Program (RRP), its primary system to detect fraud and noncompliance. The Return Review Program is a platform that runs individual tax returns through a set… Systemic Verification
What Is an IRS Tax Transcript? An IRS tax transcript serves as a record of an individual’s tax-related information. This document contains details about one’s previous tax returns, with information such as the type of… What Is An IRS Tax Transcript And How Can I Get A Copy
Need Help with Your Tax Troubles? Dealing with tax issues can be frustrating, confusing, and frightening. The IRS Taxpayer Advocate Service is made up of individuals who are knowledgeable about the inner workings of the IRS… What Is The IRS Taxpayer Advocate Service And How Can It Help Me?
The Taxpayer Advocate Service (TAS) is an organization within the Internal Revenue Service that is designed to help taxpayers resolve problems with the IRS. HOW IT WORKS The TAS was first formed in 1978. Over time, it gained more… Tax Advocate Service
The Department of Treasury’s Bureau of the Fiscal Service (BFS) issues IRS tax refunds and Congress authorizes BFS to conduct the Treasury Offset Program (TOP). Through the TOP program, BFS may reduce your refund (overpayment) and offset… Tax Refund Offsets for Unpaid Child Support
The IRS’s Failure to Establish Goals to Reduce High False Positive Rates for Its Fraud Detection Programs Increases Taxpayer Burden and Compromises Taxpayer Rights Over the past decade, the IRS has been significantly impacted by… IRS Fraud Filters Delay Tax Refunds
A system the IRS uses to identify potentially fraudulent electronically filed tax returns. It enhances the IRS’s capabilities to detect, resolve, and prevent criminal and civil noncompliance and reduces issuance of fraudulent tax refunds. The… Return Review Program
There are two different being processed messages. One is “still being processed” and the other is “being processed” and they both have different meanings. What does “Your tax return is still being processed” mean? The… IRS Still Being Processed vs. Being Processed
Early Direct Deposit Accounts Direct deposit is the “fastest, safest way to receive your tax refund,” According to the IRS.  There are several advantages to direct deposit of a tax refund: You can get… Bank’s, Cards, & Credit Unions that offer customers early Direct Deposits on Tax Refunds?
The Protecting Americans from Tax Hikes Act of 2015 (the PATH Act), was enacted on December 18, 2015. The PATH Act contains several changes to the tax law that affect individuals, families, and businesses, and… Today will be the End of the 2018 PATH HOLD
With millions of tax refunds being processed, the Internal Revenue Service reminds taxpayers they can get fast answers about their refund by using the “Where’s My Refund?” tool available on IRS.gov and through the IRS2Go app. … Avoid the Rush: Track Tax Refunds Online at IRS.gov
Even without a government shutdown, taxpayers are having trouble getting through to the IRS at the start of the 2018 tax filing season. Busy signals and long hold times are leading to frustration. We’ve even… You Can Forget Trying to Call the IRS and Find Your Answers Online
The Internal Revenue Service today announced steep declines in tax-related identity theft in 2017, attributing the success to the Security Summit initiatives that help safeguard the nation’s taxpayers. Key indicators of identity theft dropped for… Key IRS Identity Theft Indicators Continue Dramatic Decline in 2017; Security Summit Marks 2017 Progress Against Identity Theft
With the surge of tax returns expected during the upcoming Presidents Day weekend, the Internal Revenue Service is offering taxpayers several tips and various time-saving resources to get them the help they need from the… Avoid the Rush over Presidents Day Holiday; Online Tools, Resources Can Help
The IRS mails millions of letters to taxpayers every year for many reasons. Here are seven simple suggestions on how individuals can handle a letter or notice from the IRS: 1. Don’t panic. Simply responding… Seven Things to Do When an IRS Letter Arrives
If your Where’s My Refund? Status Bars Have Disappeared PLEASE READ! One way to determine what is going on with your tax return is to go to the IRS website and request an Account Transcript.… 2018 Tax Transcript Cycle Code Chart
Transaction Codes (TC) consist of three digits. They are used to identify a transaction being processed and to maintain a history of actions posted to a taxpayer’s account on the Master File. Every transaction processed by the IRS… IRS Transcript Transaction Codes
No matter how hard you try to safeguard personal information, there is still a chance that someone could steal or otherwise misuse your dependent’s Social Security number. Often, the use of another taxpayer’s Social Security… What Should You Do If Someone Claims Your Children On Their Tax Return?