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The Amounts of Some Tax Penalties Have Increased

What Taxpayers Need to Know Before Filing Tax penalties are not just a threat for late filers or people who owe back taxes. Several IRS penalties automatically increase based on inflation, meaning the dollar amount…

15 Red Flags that will get you audited by the IRS

And How to Avoid Triggering IRS Review Nobody wants an IRS audit. It’s stressful, time-consuming, and potentially expensive if your taxes weren’t prepared correctly. Most audits are avoided simply by knowing what triggers IRS attention…

Tax Topic 151 & 152

You’ve been anxiously checking Where’s My Refund every day, counting on that tax refund to hit your account. Then suddenly, you see it: “Tax Topic 151” or “Tax Topic 152” appears on your screen.…

How Loss of Employment Could Affect Your Taxes

Losing Your Job Doesn’t Always Mean a Smaller Refund Job loss brings stress, uncertainty, and financial pressure—but it also affects your tax situation in ways most people don’t expect. The truth is, your refund might…

Everything you need to know about Early Filing

Early filing always becomes a huge topic every January. Some taxpayers rush to file the moment their first W-2 or 1099 appears, hoping to be among the first refund recipients. Others wait—worried about mistakes, fraud…

Illegal Ways People Try To Claim Larger Tax Credits

Why This Matters Right Now Every year, thousands of taxpayers attempt to artificially increase their refund by inflating credits such as: These credits can legitimately produce thousands of dollars in refundable payments. But fraudulently increasing…

Tax Refunds Expected To Be Delayed

Taxpayers have both good news and bad news coming their way this year. First, the bad: Getting some refunds this year might take slightly longer than in prior years. So, what’s the silver lining? There…

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Tax Filing Season Set to kick off Jan. 19th

The 2016 tax filing season will open on January 19, the IRS said Monday. That’s the day the agency will start accepting 2015 federal tax returns — both those filed electronically and on paper. If…