RefundtalkMost taxpayers now use e-file to submit their returns. The process is easy to use, especially with the help of tax preparation software. On occasion, however, you may find that your electronically filed tax return gets rejected by the IRS. If this happens to you, don’t panic. There are numerous reasons why the IRS could…
Category Archives: Tax Return Filing
Do You Know if You Filed a False Tax Return?
Most of us would not intentionally commit tax fraud. Being convicted of filing fraudulent tax returns can put a crimp in your professional life, not to mention the possibility of going to prison. Yet, some people commit tax crimes without even knowing it. When US tax returns are filed, you sign on the bottom line…
The Benefits of Filing Taxes Early: Maximizing Your Financial Advantage
As tax season approaches, many individuals find themselves wondering when they can file their taxes. While the official tax filing deadline is typically April 15th in the United States, the good news is that you can file your taxes much earlier than that. In fact, the earliest you can file your taxes each year is…
Tax Changes Effective for 2022 Returns
Several tax changes are effective in 2022. Some of the more significant changes are: Child Tax Credits Charitable Contribution Limitations Health Savings Accounts Expired Tax Benefits Standard Deduction and Capital Gains Adjustments Retirement Matters Business Matters New 1040 Form for 2022 For information about any additional changes to the 2022 tax law or any other…
What’s new and what to consider when filing taxes in 2023
The Internal Revenue Service encouraged taxpayers to take important actions this month to help them file their 2022 federal tax returns. This is the second in a series of reminders to help taxpayers get ready for the upcoming tax filing season. A “Get Ready” page outlines steps taxpayers can take now to make tax filing easier in…
Unreported Income Can Trigger an IRS Investigation
If you fail to fully report your income to the Internal Revenue Service (IRS), you could be heading for tax troubles ahead. Most taxpayers are aware that failure to file a tax return could catch up with them. Fictitious business expenses or children invented to obtain a heftier tax return are also pretty obvious tax…
The Problem with Past Due Tax Returns
Tax Day rolls around each year. If you have delayed or simply passed on filing your tax return, you may be surprised at the difficulties it can cause. Everyone of working age is aware of the necessity of taxes. Workers pay employment taxes, employers hand over those payroll taxes, and individuals and companies file tax…
Taxpayers should know what they’re getting when they choose a tax preparer
It’s filing extension crunch time, but people rushing to get their tax return filed should be cautious when choosing a tax preparer. Anyone can be a paid tax return preparer if they have an IRS preparer tax identification number. However, tax pros have different levels of skill, education, and expertise. Advertisement A taxpayer’s needs will determine…
On Tax Day, an Extension May Be Better Than Rushing a Return
Monday is Tax Day, the federal deadline for individual tax filings and payments. Monday is Tax Day — the federal deadline for individual tax filing and payments — and the IRS expects to receive tens of millions of last-minute filings electronically and through paper forms. As of April 8, the IRS had received more than…
Free IRS programs are here to help taxpayers prepare and file returns
It’s a new tax season. While some things are different, one thing that remains the same is, taxpayers can have their taxes prepared for free through one of two long-standing IRS programs. People with low to moderate income may benefit from this free tax help through one of these programs: Volunteer Income Tax Assistance This…
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