RefundtalkThere 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 page on IRS.gov. Here are some other things they should do to prepare to file their tax return. Gather and organize…
Category Archives: Tax Return Preparation
Why it’s important that taxpayers know and understand their correct filing status
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 have to file a tax return at all. There are five IRS filing statuses. They generally depend on the taxpayer’s…
Filing a Tax Extension
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 the extension they need. Is it too late for my client to file a tax extension? Forms for 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…
IRS warns of EFIN Scam
The Internal Revenue Service has issued an urgent warning to tax professionals over a new scam in which cyber-criminals impersonate the IRS over email in an attempt to steal Electronic Filing Identification Numbers (EFINs). Carrying the subject line “Verifying your EFIN before e-filing,” the scam email purports to be from “IRS Tax E-Filing.” In the…
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,…
You Can View Your IRS Account Online
The first step of tax preparation is gathering records As taxpayers get ready to file their tax returns, they should start by gathering their records. Taxpayers should gather all year-end income documents to help ensure they file a complete and accurate tax return and avoid refund delays. Taxpayers should have all necessary records handy, such…
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 has announced that the nation’s tax season will start on Friday, Feb. 12, 2021, when the tax agency will begin…
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 Service announced. Leading tax software providers make their online products available for free as part of a 19-year partnership with…
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 series of reminders to help taxpayers get ready for the upcoming tax filing season. A special page, updated and available on…
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