“WASHINGTON ― The Internal Revenue Service announced that the nation’s tax season will start on Friday, Feb. 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns. The Feb. 12 start date for individual tax return filers allows the IRS time to do additional programming and testing of IRS systems […]
Many myths about taxes are addressed by this fact-finder news blip from the IRS. Read about the facts and fiction concerning the refund status. Myth #1The ‘Where’s My Refund?’ tool is wrong because there’s no deposit date yet: Explanation:When Where’s My Refund? shows the tax return status is received, the IRS or the State is
IR-2020-53, March 10, 2020 WASHINGTON — The Internal Revenue Service is encouraging taxpayers to take control of the size of their refund using the Tax Withholding Estimator on IRS.gov. The estimator has a “slider” feature to let users to choose the refund they want from a rsange of amounts based on the information they enter.
January 14, 2020 If you’re working in the gig economy, it pays to know your tax obligations, states the IRS. They suggest pre-planning to ensure you are prepared when it’s time to file your tax return. Just like any other job, money earned through the gig economy is taxable. If an individual or business makes
Gig Economy: “Know your Responsibilities Says the IRS” Read More »
The IRS announced the will be accepting individual and business tax returns. Start date for the 2019 tax filing year is January 27, 2020. Expect delays in refunds as the IRS will review certain tax returns and require more “proofs”. Dependents, W-2’s, 1099’s, and other income documents and deductions may be reviewed for any tax
Employee Expense Deduction Returns for W2 employees The new tax cut and jobs rules eliminated employee expense deductions in 2018 and beyond as a change to the Schedule A form. Only teachers and certain government employees were able able to take job expense deductions after the enactment of new 2018 tax laws. The IRS has
Many people have children they claim in a divorce or separation but miss out on tax dollars each year because they do not know their correct way to fill out your taxes. What does this mean? Let’s talk about it. Are you claiming single or head of household when you do you do your own
Tax Time: Advice From an Expert Can Be Your Hack for Tax Programs. Read More »
The IRS recommends doing a “paycheck Check-up” in October to make sure you have enough tax withheld from your paychecks. Those who have divorced started a second job, or whose child no longer their dependent should consult a tax professional or use the IRS website Withholding Calculator to perform a quick “paycheck checkup.” “The objective
Federal Income Tax Withholding May Need Adjustment Read More »
Many people got their returns delayed because of “fraud” alerts from the IRS or your State. In this case, you would have received a letter requiring you to prove your identity by supplying them with your ID and other documents from your return. These delays have held up returns into September or later in some