IRS Offers IRA Tax Tips for the 2016 Tax Year
Taxpayers often have questions about Individual Retirement Arrangements, or IRAs. Common questions include: When can a person contribute, how does an IRA impact taxes, and what are other common rules.
9 Common Filing Errors Avoid
The IRS encourages taxpayers to file an accurate tax return. If a taxpayer makes an error on their return, it will likely take longer for the IRS to process it. This could delay a refund. Avoid many common errors by filing electronically. IRS e-file is the most accurate way to file a tax return. All…
Itemize or Choose the Standard Deduction
Most taxpayers claim the standard deduction when they file their federal tax return. However, some filers may be able to lower their tax bill by itemizing. Find out which way saves the most money by figuring taxes both ways. The IRS offers the following six tips to help taxpayers decide:
Use the “Where’s My Refund?” Tool
Taxpayers who have not yet received their income tax refunds can use “Where’s My Refund?” app to check the status. Find it on IRS.gov or the free IRS mobile app IRS2Go. Here are five tips to know about “Where’s My Refund?”:
Choosing the Correct Filing Status
When taxpayers file their tax return, it’s important they use the right filing status because it can affect the amount of tax they owe for the year. It may even determine if they must file a tax return at all. Taxpayers should keep in mind that their marital status on Dec. 31 is their status…
IRS Debunks Myths Surrounding Tax Refunds
As millions of people begin filing their tax returns, the Internal Revenue Service reminds taxpayers about some basic tips to keep in mind about refunds. During the early parts of the tax season, taxpayers are anxious to get details about their refunds. In some social media, this can lead to misunderstandings and speculation about refunds….
5 Tips on Whether to File a 2016 Tax Return
Most people file a tax return because they have to. Even if a taxpayer doesn’t have to file, there are times they should. They may be eligible for a tax refund and not know it. Here are five tips on whether to file a tax return:
7 Reasons Taxpayers Should E-file Their Taxes in 2017
Taxpayers who still file paper returns may find now is the best time to switch to e-file. Last year over 85 percent of taxpayers filed their taxes electronically. E-file is the fastest and safest way to file.
What You Need to Know about Taxable and Non-Taxable Income
All income is taxable unless a law specifically says it isn’t. Here are some basic rules you should know to help you file an accurate tax return:
If/Then Chart Explains How the Health Care Law Affects You
As you prepare to file your 2016 tax return, review this chart to see how the health care law affects you.