Are you the parent of a first time filer with limited income? 1040 EZ may be your child’s solution. As a parent you may be reading this with interest as your child is growing up and facing for the first time – his or her income tax return. If your child has been working a part time job and has his first W-2, this is a good year to sit down with him or her and go through this checklist.
... Read More
So, you’re expecting a healthy refund from the IRS any day? If you’re like most Americans, you already know exactly how you’ll be spending it. But did you ever wonder what your fellow taxpayers spend their income tax refunds on? And how your plans compare to theirs? Wonder no more – we’ve got the inside scoop on your neighbors’ spending right here. While most people imagine that vacations or big purchases are the most common things people choose to use their refunds on, those make up only a small percentage of the actual ways in which they’re spent. According to
... Read More
Are you the type who puts off filing your taxes till the absolute last minute, and then pulls a coffee-fueled all-nighter frantically pawing through piles of paperwork and filling in forms till your eyes are crossed?
... Read More
You’ve completed your taxes, filed your report, and all that’s left to do is to get your refund. But wait! What if it’s delayed? Refunds typically come in about 3 weeks. Do you know why most refunds are delayed?
... Read More
You’ve heard all the hype about income tax refunds. People love them, look forward to tax season because of them, use them for vacations, for big purchases, or to pay off debt.
... Read More
Hey, got a few spare hours to spend doing something you have absolutely no desire to do? Oh yeah – also, it’s mandatory, has a strict deadline, and you can get in major legal and financial trouble if you do it wrong?
... Read More
While e-filing has greatly improved the accuracy of taxpayer returns, there are still some common user errors which can cost you time and money. While most of us know April 15th is the deadline, it can easily sneak up on us.
... Read More
The IRS has published an annual “dirty dozen” list of scams since 2015. There’s been little change between the 2015 list and today. In fact, the 2016 and 2017 lists are exactly the same. But there is one nuance between 2015 and 2017: The adage “the IRS will never call you” is no longer technically true.
... Read More
Have you ever noticed how time seems to move more slowly when you’re looking forward to something? Vacations, parties, special events – the countdown to the big day can be excruciating. The same principle applies when you’re waiting for your tax refund.
... Read More
In an effort to streamline the tax code, the new tax legislation has eliminated some of the special credits provided to first time homeowners. However these may be offset by lower tax rates overall and a much larger child credit as a help to families. Although some changes are being introduced in 2018, it is important to understand which deductions and credits still may help the taxpayer who is buying a home for the first time.
... Read More