With tax season beginning soon, the Internal Revenue Service reminds taxpayers that choosing to have their tax refund directly deposited into their checking or savings account is the fastest way to get their money. It’s simple, safe and secure. Taxpayers can also get their refund deposited into one, two or three different accounts if desired.…
The IRS will begin accepting tax returns on January 27, 2020, with nearly 155 million individual tax returns expected to be filed in 2020. The nation’s tax deadline will be April 15 this year. Many software companies and tax professionals will be accepting tax returns before Jan. 27 and then will submit the returns when IRS systems open. …
Initially, the ACA’s individual shared responsibility provisions required most individuals to obtain “minimum essential health insurance” coverage for themselves, and any dependents, or pay a penalty. Through the tax year 2018, taxpayers were also required to report health care coverage and whether they qualify for an exemption from coverage, and make a “shared responsibility payment”…
The Internal Revenue Service confirmed that the nation’s tax season will start for individual tax return filers on Monday, January 27, 2020, when the tax agency will begin accepting and processing 2019 tax year returns. The deadline to file 2019 tax returns and pay any tax owed is Wednesday, April 15, 2020. More than 150…
What is a Tax Topic? Tax topics are used to group returns and they also outline general information pertaining to your personal tax situation. What is Tax Topic 152? Tax topic 152 is general information pertaining to your tax refund. Tax topic 152 outlines the standard procedures the IRS follows for distributing tax refunds. Is…
No, you should NOT file your tax return using your last paycheck stub. It is against the law and it can and will cause major delays in receiving your tax refund. Your last paycheck stub is not guaranteed to be an accurate statement of your annual earnings, and it could be missing some of the…
Seniors and retirees whose income is under $69,000 a year should explore IRS Free File for free online tax preparation. Seniors are one of the key constituents for Free File which has served 57 million taxpayers and saved them $1.7 billion since the online filing service debuted in 2003. Free File – which features 10…
When the IRS kicks off the 2020 tax filing season, taxpayers in selected locations will be eligible to opt into the online Identity Protection IP PIN program. Taxpayers will be eligible for this voluntary program if they filed a federal tax return last year from the following states. The IP PIN is a 6-digit number…
When you check your tax refund status at IRS.gov or on the IRS2GO app you may get a refund status from the IRS Where’s My Refund? site telling you “We are sorry, we cannot provide any information about your refund.” There may be something wrong with the tax return you filed and the information on…
The Transaction Code TC 570 Additional Account Action Pending is a Freeze Code the IRS uses that will hold/stop a refund from being issued until the impact of the action being taken on the account and the refund is determined and processed. We know this can be stressful for you, but there are reasons for…
