Tax Documents Checklist
- States Where the IRS Has Extended the Tax Deadline
- Health Savings Plan Distributions & 1099-SA
- Did you receive a state or local refund last year?
- Do I need to report my Social Security benefits?
- Who can take the Retirement Savings Contributions Credit? (Savers Credit)
- How to Report Gambling Winnings with a Form W-2G
- How Do I Claim Refundable Credits After Disallowance?
- What is an IRS Issued Identity Theft PIN (IP PIN)?
- Who Can Take the Credit for the Elderly or Disabled (Schedule R)?
- Did you collect unemployment compensation from a state or local government assistance program?
- What is the Recovery Rebate Credit?
- How to file for a federal or state income tax extension
- Taxpayer COVID-19 FAQ
- The New Simplified 1040 Tax Form
- Are my alimony payments considered earned or taxable income?
- Using an AGI, Self-Select or IP PIN to verify a taxpayer’s ID
- Do I pay taxes on my unemployment benefits from when I was out of work?
- At what point should my dependent file his/her own tax return?
- What is the marriage penalty?
- If a taxpayer works overseas, do they pay federal taxes on the income? What forms need to be completed?
- Bitcoin and tax liability
- Are all state filing laws the same as federal laws? How do I find out the laws in my state?
- What are capital assets, gains and losses? How do I figure them out?
- Is it still possible to get a tax deduction for charitable giving after the latest tax reform?
- Are my tips considered earned or taxable income? What if I forget to report some of them?
What is the Recovery Rebate Credit?
Many taxpayers received Economic Impact Payments during 2020 and 2021 in response to difficult economic conditions caused by the COVID-19 pandemic. If you have not yet received the first or second stimulus payments from 2020, you may be eligible to claim the Recovery Rebate Credit on your 2020 tax return. Additionally, if you did not receive the third payment from the 2021 stimulus, you should be able to claim it on your 2021 tax return. Due to the coronavirus epidemic, the U.S. Treasury Department issued an Economic Impact Payment (EIP) to eligible taxpayers twice during the 2020 tax year. The amount
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How to file for a federal or state income tax extension
Please note, E-file.com provides software to prepare federal tax extensions. However, we do not provide software for state/local tax extensions. With every purchase of our extension software we include free software to prepare and file a tax return once the taxpayer is ready to file. The federal extension (form 4868) must be filed and/or mailed with your estimated payment by the April 15th deadline. Most states, which require taxpayers to file an income tax return, use the federal deadline of April 15th (unless the 15th falls on a weekend or a holiday.) If your state requires that you file a return and you believe you will not be able
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Taxpayer COVID-19 FAQ
Many users have questions regarding the change of the tax filing deadline and the economic stimulus payments the U.S. government is sending to American taxpayers. The following is being provided to help answer some of the most frequently asked questions. Please keep in mind, this situation is evolving and some information/guidelines will change. REGARDING THE THIRD STIMULUS CHECK : The third stimulus check under President Biden’s American Rescue Plan provided up to $1,400 per eligible taxpayer, plus $1,400 for each eligible dependent. According to information provided in the IRS press release the “official payment date” when taxpayers saw payments go out was
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The New Simplified 1040 Tax Form
Several versions of the 1040 tax form have been consolidated into one simpler version that all taxpayers can use. Previously, there were three versions of the 1040 form. The redesigned 1040 form from the IRS is only half a page long on two sides.
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Are my alimony payments considered earned or taxable income?
The IRS considers payments to a spouse or former spouse forms of alimony (for tax purposes this includes all payments made under divorce decree, maintenance decree, or separation agreement).
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Using an AGI, Self-Select or IP PIN to verify a taxpayer’s ID
AGI stands for Adjusted Gross Income. This is a calculation that the IRS uses which translates to roughly what you have left after deductions or adjustments have been made to your gross or total income. It is the figure that will be used in the final calculation on your form 1040 and helps determine what your tax bill will be. Your prior year AGI (the number provided to the IRS on your return last year) is the most common way to verify your identity, sign your return and to e-file your taxes electronically. The IRS considers this important piece of information a key
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Do I pay taxes on my unemployment benefits from when I was out of work?
Unemployment benefits come from an insurance fund worked out between the federal, state and local governments. When you file for your unemployment benefits, you should be able to choose to have your federal taxes withheld.
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At what point should my dependent file his/her own tax return?
ou have a child under the age of 19 or under the age of 24 and a full-time student, you should be able to claim the dependent if certain criteria are satisfied. However, the dependent must not provide more than half of their own financial support.
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What is the marriage penalty?
With marriage and a decision to file a joint tax return, instead of separate individual returns, comes a different set of tax brackets. It is commonly referred to as the marriage penalty when the joint tax filing brackets result in a greater tax liability than the individual brackets would have otherwise created.
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If a taxpayer works overseas, do they pay federal taxes on the income? What forms need to be completed?
Whether you are only spending six months or spending several years working abroad, as long as you remain a US citizen, you must still file a U.S. federal tax return, and in most cases, pay income taxes on the money you earn while abroad.
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