Important Facts about Filing Late and Paying Penalties
April 18 was this year’s deadline for most people to file their federal tax return and pay any tax they owe. If taxpayers are due a refund, there is no penalty if they file a late tax return.
5 Tax Tips on Making Estimated Tax Payments
Taxpayers usually will have taxes withheld from their pay if they are an employee. However, if a person doesn’t have taxes withheld, or they don’t have enough tax withheld, they may need to make estimated tax payments. Taxpayers that are self-employed normally have to pay their taxes this way. Here are five tips about making…
Need an Extension of Time to File Taxes?
This year’s tax-filing deadline is April 18. Taxpayers needing more time to file their taxes can get an automatic six-month extension from the IRS.
Get Credit for Making a Home Energy Efficient
Taxpayers who made certain energy efficient improvements to their home last year may qualify for a tax credit this year. Here are some key facts to know about home energy tax credits:
Tax Time Guide: ‘Where’s My Refund?’ Tool Best Way to Check Tax Refund Status
The Internal Revenue Service reminded taxpayers that while more than 90 percent of federal tax refunds are issued in 21 days or less, some refunds may take longer. Many factors can affect the timing of a refund after the IRS receives the return. Also, taxpayers should take into consideration the time it takes a financial…
Check Out Tax Benefits for Higher Education
Higher education costs paid in 2016 can mean tax savings when taxpayers file their tax returns. If taxpayers, their spouses or their dependents took post-high school coursework last year, they may be eligible for a tax credit or deduction. Here are some facts from the IRS about tax benefits for higher education.
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?”:
