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 number is a mistake resulting from another filer transposing the numbers during filing, but it can also be the result…
Millions of taxpayers are going transcript crazy right now and wasting the IRS time that they could be processing our returns. We all need to slow down if you order your transcripts by mail the IRS says to allow them 5-10 days for processing and delivery. The IRS also has a restriction on the time…
Congratulations, Wednesday, January 24 marks the First day for movement on some taxpayers accounts in the 2018 tax filing season. Many taxpayers woke up this morning with a change to their refund status. If your refund status updated to this messages this morning. Your tax return has been acknowledged by the IRS. Once your tax…
Congratulations! Accepted means your e-filed tax return has passed the initial inspection (Social Security numbers are correct, dependents haven’t already been claimed, etc.) and the government has your tax return. Consider acceptance as your official government delivery receipt. Turbo Tax Users H&R Block Users Does “accepted” mean my refund is approved? No – accepted means your tax return is now…
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…
