IRS Opening Day for 2021
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 Free File Opens Jan. 15, 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…
Tips to Get Your Tax Refund ASAP
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…
Important Tax Changes In 2021: Individuals And Businesses
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…
How The IRS Taxes Bitcoin
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…
Unemployment Compensation Is Taxable; Have Tax Withheld Now And Avoid A Tax-Time Surprise
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…
What’s new and what to consider when filing taxes in 2021
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 to Do If You Have Unfiled Tax Returns
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…
IRS extends tax deadline to July 15 from April 15
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…
Taxpayers should remember these tips when searching for a tax preparer
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…
Who should file a Tax Return?
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…
IRS Announces the Start of E-File Test Batch(HUB Testing) for 2020
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 Free File Opens Jan. 10, 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…
Direct Deposit is the Fastest Way to Receive a Tax Refund
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…
When is the first day to file taxes in 2020?
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.…
Can I File Taxes using my Last Paycheck Stub?
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…
IRS Free File Helps Seniors and Retirees Do Their Taxes for Free
Who Qualifies for Free File You’re eligible if: Many seniors who rely on Social Security and perhaps a small pension easily meet those criteria. Why Free File Is Great for Seniors and Retirees For seniors…
What to Do If You Made a Mistake on Your Taxes
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…
How Do You Determine When A Child Becomes A Separate Taxpayer
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…
What to Do If You’re Missing Tax Forms
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…
Get Your Tax Information ready early to Avoid Surprises
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…
Taxpayers Who Requested an Extension: The deadline is Oct. 15
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.…
What is My Filing Status?
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…
The Benefits Of Electronic Filing
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…
What to do if you have Unfiled Tax Returns
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…
Tax Benefits for Members of the Military
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…
How To Obtain Prior Years IRS Tax Returns
. 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…
Common IRS Tax Filing Questions
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…
Tax Filing Tips
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…
Filing As Head Of Household – Frequently Asked Questions
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.…
IRS Announces the Start of E-File Test Batch(HUB Testing) for 2019
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 Free File is Open Today!
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…
Changes that might affect your 2019 Tax Return
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,…
How Do You Get Your W-2 Online?
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…
Tax Problems? Avoid These Tax Filing Mistakes
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…
New form 1040 for 2019 Tax Season
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,…
What Are The Penalties For Not Filing Your Tax Return?
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…
Married Filing Separately Vs. Married Filing Jointly
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…
How Much Money Do You Have to Make to File Taxes?
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…
Reasons You Should File Your Taxes Early
Taxpayers receiving a refund tend to file taxes right away If you are an early season tax filer (i.e. you file your tax return in January and/or early February) you are simply looking to get…
How much should you pay to file your taxes?
One of the biggest decisions taxpayers face each year is how to file their tax returns. Last year, 86%, nearly 132 million, of tax returns were filed with tax software. But out of those computer-prepared…
Tax Software to E-File your Tax Return
Now that tax season is here, consumers are looking for a reliable, easy way to file their taxes. Why not use an online tax service? These services allow you to easily and safely file your…
IRS Announces when Tax Filing Season will start in 2018!
The Internal Revenue Service announced today that the nation’s tax season will begin Monday, Jan. 29, 2018 and reminded taxpayers claiming certain tax credits that refunds won’t be available before late February. The IRS will…
Tax Filing Extension Expires Oct. 16 for Millions of Taxpayers; Check Eligibility for Overlooked Tax Benefits
WASHINGTON — The Internal Revenue Service today urged taxpayers who have a filing extension through Oct. 16 to check their returns for often-overlooked tax benefits. When they are ready to file, the IRS recommends they…
Here’s Why Tax Day Is April 18 This Year
When it comes to taxes, not much is simple, including knowing the day your individual tax return is due. For the second of three consecutive years, tax day is abandoning its traditional April 15 deadline…
Top Facts Filers Should Know for Opening Day
Opening Day for the IRS is Today January 27, 2020. The Internal Revenue Service has set the opening day for the 2020 tax filing season for Monday, Jan. 27, 2020. That’s the day the IRS…
How to File Income Tax When You Were on Workers’ Compensation All Year
Understanding Tax Rules for Workers’ Comp Payments Many taxpayers receive workers’ compensation after an injury or illness and wonder whether they need to file a tax return if they were on workers’ comp the entire…
If the IRS rejects your tax return, these codes will explain what went wrong
Understanding IRS Reject Codes, E-File Errors, and What to Do Next A rejected tax return can feel alarming, but rejection does not mean you are under audit or that the IRS has denied your refund.…
Tax Season Important Reminders
Deadlines, Documents, Delays and What Every Taxpayer Should Do Before Filing Every tax season brings important updates that affect filing deadlines, refund timing, credits, and required documentation. Preparing early helps prevent errors, reduces refund delays,…
Which Online Tax Service is Best?
Choosing the Right One Depends on Your Filing Situation There is no single “best” online tax software for everyone. Every platform has different strengths depending on how complex your return is, what credits you claim,…