RefundtalkIRS Encourages Modernization Of Electronic Filings: 30 Million Taxpayer Paper Filed Tax Returns Destroyed According to the Inspector General’s audit, the IRS destroyed 30 million paper documents while millions of taxpayers are waiting for tax refunds. The IRS has taken a number of actions and developed initiatives in an effort to increase e-filing. Furthermore, legislative requirements have resulted…
Category Archives: Tax Return Filing
How do I get my W-2 forms Online?
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 withheld. What is the W2 Form Used for? The W-2 includes the financial data required to complete IRS 1040 income tax forms…
Tax Day For Individuals Extended To May 17: Treasury, IRS Extends Filing And Payment Deadline
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, 2021. The IRS will be providing formal guidance in the coming days. “This continues to be a tough time for…
How the pandemic will affect filing your taxes
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 bit different too. That’s because the pandemic that defined 2020 has seeped into tax time too. If you worked from…
Should you file your taxes right away in 2021 or wait?
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 massive coronavirus economic relief package, key details surrounding the third stimulus check are coming into focus. Taxes are going to…
Taxable Vs Nontaxable Income
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 it. But as you might have guessed, there’s more to it than that. Taxable income includes any money you receive,…
Top Facts Filers Should Know for IRS Opening Day
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 will begin accepting and processing 2020 tax year returns. The tax filing deadline this year is Thursday, April 15, 2021…
Here’s When to File Taxes if You Haven’t Gotten Stimulus Money
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 your tax return. After all, you’ve likely heard of the Recovery Rebate Credit (RRC) by now, which lets taxpayers claim missing stimulus…
IRS urges taxpayers to gather tax documents now for smooth filing later
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 W-2s, 1099s, receipts, canceled checks and other documents that support an item of income, or a deduction or credit, appearing…
Tax Filing for Low-Income Taxpayers
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 you most of that refund you’ve been looking forward to. There are credits specifically targeted toward taxpayers earning less than…
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