The Internal Revenue Service today encouraged taxpayers to take important actions this month to help them file their federal tax returns in 2022, including special steps related to Economic Impact Payments and advance Child Tax… Get ready for taxes: What’s new and what to consider when filing taxes in 2022
There are steps people, including those who received stimulus payments or advance child tax credit payments, can take now to make sure their tax filing experience goes smoothly in 2022. They can start by visiting the Get Ready… What taxpayers can do now to get ready to file taxes in 2022
The last thing you want to do is frantically run up to your boss asking “How many allowances do I claim on my W-4?”. Being aware of the number of allowances you are claiming on a Form W-4 [Employee’s… Do I Claim Zero, One, Two W-4 Allowances?
A taxpayer’s filing status defines the type of tax return form they should use when filing their taxes. Filing status can affect the amount of tax they owe, and it may even determine if they… Why it’s important that taxpayers know and understand their correct filing status
Even with the extended tax filing deadline this year, some taxpayers may still have needed extra time to file their taxes. Most tax software companies make it easy to file Form 4868 to ensure their clients get… Filing a Tax Extension
Tax season is quickly approaching, and the sooner you get your information in order, the better. The first thing to do is to get your W-2. A W-2 form is a statement of annual earnings and taxes… How do I get my W-2 forms Online?
The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17,… Tax Day For Individuals Extended To May 17: Treasury, IRS Extends Filing And Payment Deadline
The IRS will begin accepting tax returns on Feb. 12, 2021. Here’s a breakdown of what you should know before you file. Tax filing season will start a bit later this year and look a… How the pandemic will affect filing your taxes
There are pros and cons to either filing your taxes now or holding off a few more weeks in terms of the proposal for $1,400 stimulus payments. As Democrats push forward with crafting the next… Should you file your taxes right away in 2021 or wait?
Are you wondering if there’s a hard and fast rule about what income is taxable and what income is not taxable? The quick answer is that all income is taxable unless the law specifically excludes… Taxable Vs Nontaxable Income
Opening Day for the IRS is Today February 12, 2021. The Internal Revenue Service has set the opening day for the 2021 tax filing season for Friday, Feb. 12, 2021. That’s the day the IRS… Top Facts Filers Should Know for IRS Opening Day
If your $600 stimulus payment (also referred to as the second economic impact payment, or EIP2) still hasn’t arrived in your bank account or mailbox, you may be wondering if you should wait to file… Here’s When to File Taxes if You Haven’t Gotten Stimulus Money
The Internal Revenue Service is reminding taxpayers that organizing tax records is an important first step for getting ready to prepare and file their 2020 tax return. Taxpayers should keep all necessary records, such as… IRS urges taxpayers to gather tax documents now for smooth filing later
Need a hand preparing your tax return this year? There’s a good chance that if you are one of many low-income taxpayers, you will file a tax return this year. Preparing that return doesn’t have to cost… Tax Filing for Low-Income Taxpayers
In the next few weeks, the Internal Revenue Service (IRS) will begin accepting federal tax returns for the 2020 tax year. The coronavirus pandemic and multiple pandemic-related relief packages passed last year will make the tax season… What to Expect During the 2021 Tax Season
The Internal Revenue Service has announced that the nation’s tax season will start on Friday, Feb. 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns. The Internal Revenue Service… IRS Opening Day for 2021
IRS Free File – online tax preparation products available at no charge – January 15, 2021, giving taxpayers an early opportunity to claim credits like the Recovery Rebate Credit and other deductions, the Internal Revenue… IRS Free File Opens Jan. 15, 2021!
Waiting for your tax refund can really test your patience. Unfortunately, we can’t speed up the actual processing time of your tax return once the IRS gets hold of it. However, there are actions we… Tips to Get Your Tax Refund ASAP
Every year, it’s a sure bet that there will be changes to current tax law and this year is no different. From standard deductions to health savings accounts and tax rate schedules, here’s a checklist… Important Tax Changes In 2021: Individuals And Businesses
Bitcoin mania is upon us. It has been widely publicized that the cryptocurrency, Bitcoin, has reached record highs in value over the past month. Investors are making nice profits with Bitcoin, and the IRS is… How The IRS Taxes Bitcoin
With millions of Americans now receiving taxable unemployment compensation, many of them for the first time, the Internal Revenue Service today reminded people receiving unemployment compensation that they can have tax withheld from their benefits… Unemployment Compensation Is Taxable; Have Tax Withheld Now And Avoid A Tax-Time Surprise
The Internal Revenue Service today encouraged taxpayers to take necessary actions in the final weeks of the year to help file federal tax returns timely and accurately in 2021. This is the third in a… What’s new and what to consider when filing taxes in 2021
No one likes filing their taxes, but not filing them at all is never a good idea. The IRS is a powerful collection agency, and an unforgiving one. Getting on the bad side of the… What to Do If You Have Unfiled Tax Returns
The Internal Revenue Service has extended the deadline for filing individual tax returns for 2019 to July 15, 2020 from April 15 in response to the coronavirus pandemic. The change came just two days after… IRS extends tax deadline to July 15 from April 15
The tax filing season is upon us, and many people will be looking for someone to help them file a tax return. Taxpayers should choose their tax return preparer wisely. This is because it’s ultimately the taxpayer who… Taxpayers should remember these tips when searching for a tax preparer
While many people are required to file a tax return, it’s a good idea for everyone to determine if they should file. Some people with low income are not required to file but will need… Who should file a Tax Return?
The IRS has announced that the 2020 tax filing season will begin on January 27, 2020. 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 2020
Most taxpayers can get an early start on their federal tax returns as IRS Free File – featuring brand-name online tax providers − opens today at IRS.gov/FreeFile for the 2020 tax filing season. Taxpayers whose adjusted gross… IRS Free File Opens Jan. 10, 2020!
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… Direct Deposit is the Fastest Way to Receive a Tax Refund
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.… When is the first day to file taxes in 2020?
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… Can I File Taxes using my Last Paycheck Stub?
Do you have any idea how many tax returns are filed in the United States each year? The answer, according to the IRS, over 140 million through May 2019 for the current tax year. Now, how… What to Do If You Made a Mistake on Your Taxes
Most of the time, children are considered to be an extension of their parents when it comes to a legal application until the age of majority. Therefore, many taxpayers are surprised to learn their child… How Do You Determine When A Child Becomes A Separate Taxpayer
The IRS begins accepting tax returns in mid to late January each year. But if you don’t have all of your tax documents by then, don’t stress out. Federal law gives employers, as well as other companies preparing tax documents (such as banks, educational… What to Do If You’re Missing Tax Forms
Adjust withholding The IRS urges everyone to use the Tax Withholding Estimator to perform a paycheck or pension income checkup. This is even more important for those who received a smaller refund than expected or… Get Your Tax Information ready early to Avoid Surprises
October 15 is the filing deadline for taxpayers who requested an extension for their 2018 tax return. However, those who have an extension should mark this coming Tuesday, Oct. 15 as the deadline to file.… Taxpayers Who Requested an Extension: The deadline is Oct. 15
Basically, when it comes to filing your personal tax return, there are five filing statuses you may choose from: single individual, married person filing jointly or surviving spouse, married person filing separately, head of household… What is My Filing Status?
Of all the intricacies of tax preparation, few aspects are as beneficial as electronic filing or e-filing. Not only is this advantageous to the Internal Revenue Service, as it reduces paperwork, it is also a… The Benefits Of Electronic Filing
Unfiled Tax Returns Some people avoid filing their tax returns because they don’t want to, or can’t afford to pay taxes they owe to the IRS. Others simply forget or don’t know they need to… What to do if you have Unfiled Tax Returns
Military members benefit from a variety of special tax benefits. These include certain nontaxable allowances, non-taxable combat pay, and a variety of other special tax provisions. Here is a rundown on the most prominent of… Tax Benefits for Members of the Military
. Need a copy of a previous year’s tax return? Whether you’re applying for a loan, filing current taxes, or just getting organized, retrieving old IRS records is easier than you might think. This guide… How To Obtain Prior Years IRS Tax Returns
These are some of the most common questions we see on a daily basis. All Refunds Are Delayed The IRS issues more than nine out of 10 refunds in less than 21 days. Eight in… Common IRS Tax Filing Questions
In preparation for the tax season, it is imperative that you have a strategy to complete your taxes quickly, accurately, and with as little hassle as possible… all while keeping the cost down. With those things… Tax Filing Tips
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 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!
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
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
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