It's that time of the year where you've finally gotten around to preparing your tax return. You've crossed your i's and dotted your t's--taking every credit and deduction (legally) available to you and reported every required revenue source (taxable and nontaxable). You get to the end and you've accurately calculated total tax due, but there's … Continue reading 6 Ways to Save Up for Your Tax Bill
Don’t sit around guessing about your taxes and whether someone out there is stealing your identity. Did you know that you can access a majority of your tax-related information through the IRS website by requesting account transcripts? Picture your tax account like a federal bank account. You prepare, file, and pay some taxes or get … Continue reading How to Monitor your Tax Account: Request an IRS Account Transcript Today
It's time for another edition of FUN FACT FRIDAY where we bring you the random, the fun, and the factual. Every Friday, we’ll be sharing some of our favorite tax facts. Get ready to be pleasantly surprised! 1 - The IRS’ Criminal Investigation (CI) branch investigates tax and money laundering. CI special agents have badges and can … Continue reading Fun Fact Friday!
1. Not filing on time Know the due date of the tax returns you need to file. If you can't file on time, be sure to request an extension. 2. Mathematical errors Arithmetic errors--whether it is on the actual tax forms or on schedules and workpapers used to compute taxable items, make sure to always … Continue reading 10 Common Mistakes You Don’t Want to Make on Your Tax Return
So you've decided it's time to file your taxes, but there's just one looming issue: You can't possibly figure out how to prepare these darn things yourself. TurboTax, as user friendly as it is, just isn't going to help you accurately determine your taxes given all the complicated forms you've received in the mail this … Continue reading Locate a Tax Professional or Volunteer Tax Preparer near you!
Welcome to our first edition of FUN FACT FRIDAY where we bring you the random, the fun, and the factual. Every Friday, we'll be sharing some of our favorite tax facts. Get ready to be pleasantly surprised! 1 - The IRS will award you up 30% of the amount of money collected for blowing the whistle … Continue reading Fun Fact Friday!
Please note that some content within this post has since been superseded by the Tax Cuts and Jobs Act which was signed into legislation on December 22, 2017. Taxes are not just a grown-up thing...anymore. Anyone with earned or unearned income during the year must seriously evaluate whether they are legally obligated to pay and/or file taxes. This includes … Continue reading 10 Tax Savings Tips for Taxpayers in Their 20’S