It turns out that there is no set time schedule for when refunds have to be given to people who file taxes (and who qualify). This is probably not the answer that you wanted and is slightly unsettling. The IRS doesn’t like to leave us completely in the dark; in prior years they issued a refund…
When filing tax returns, the second question everyone asks is “How long does it take to get my tax refund back?” Of course, the first question everyone asks is “How much is my refund?” Tax Refund Direct Deposit versus Mail If you want to get your refund faster, opt for the direct deposit route. Not…
How much money do you have to make to file taxes? What is the minimum income to file taxes? Let’s take a look at the requirements for the minimum income to file taxes in 2017 (and due in 2018). Minimum Income Requirements The IRS released the minimum income to file taxes in 2017. For the…
Obamacare, or the Affordable Care Act is now in the fourth year of providing health insurance. However, it will only be the third year of reconciling the healthcare requirements and the health insurance premium tax credit on your tax return in the spring. Health Insurance Penalty The fee, or insurance penalty tax, for going without health insurance increases each…
The government shut down early Saturday, January 20th after Congress failed to agree on a funding bill. That triggered automatic furloughs for government employees deemed “non-essential.” That means only a portion of each federal agency’s employees will continue to work through the shutdown. A shutdown plan posted on the Treasury Department’s website shows that nearly…
If a taxpayer receives a refund that is less than the amount that was submitted with the tax return, the refund may have been offset for a past due obligation. A refund offset is when an IRS refund is reduced or intercepted to pay off delinquent debt, such as past-due child support, outstanding student loans, or unpaid…
The IRS begins updating its systems for acceptance of electronic returns in the fall before tax season opens. The final changes usually happen around late December. They plan ahead to allow adequate time to program and test the upcoming year’s tax processing systems. Click Here for information on the 2023 IRS HUB Testing! If you filed…
If your student loans are in default, you’re probably worried about your tax refund. Will the student loan lenders take it? First, let’s set the record straight on private loans. Private student loan companies can’t take your tax refund. The lender may be able to take money from your bank account, but that’s only if they’ve sued…
Many families rely on their tax refunds to pay for major expenses and essentials, but with delayed refunds for millions of households for up to a month this year. For people who need that money to pay for medical expenses or necessary car repairs, that’s a huge problem. Many will take out a tax refund loan to…
Updated 2018 Withholding Tables Now Available; Taxpayers Could See Paycheck Changes by February The IRS today released Notice 1036, which updates the income-tax withholding tables for 2018 reflecting changes made by the tax reform legislation enacted last month. This is the first in a series of steps that IRS will take to help improve the accuracy…
