IRS Asks Taxpayers To Slow Down On Refund Requests
The IRS has announced that extremely high traffic is causing the “Where’s My Refund?” tool to be unavailable for some taxpayers at times this season.
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Health Care Insurance, Taxes & Form W-2
Notice anything different about your Form W-2? Take a look at Box 12. See anything that wasn’t there last year? The value of health care coverage provided by your employer is now reported in Box 12 with Code DD to identify the amount. The amount reported in the box should include both the portion paid…
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A Beginner’s Guide To Taxes: Can I Do My Return Myself?
For those of you who don’t hang out with me in real life, here’s stuff you might not know: I bake my own bread. I pickle my own vegetables. I make my kids’ Halloween costumes. I can code a little. But I do not do my own taxes. I used to do my own returns…
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IRS Announces Revised Filing Dates For Taxpayers Claiming Education Credits, Depreciation
The Internal Revenue Service continues to roll out processing for most federal income tax returns. The IRS announced this week that taxpayers can begin filing federal income tax returns with depreciation and education forms this week. On Sunday, February 10, the IRS will accept tax returns which include federal form 4562, Depreciation and Amortization, and…
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A Beginner’s Guide To Filing Taxes: Do I Have To File A Tax Return?
Tax season can be intimidating for seasoned pros, not to mention the fear it strikes into the hearts of newbies. This series is intended to give you the basics. We’ll start with the very basic of basics: do I have to file?
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IRS Releases Proposed Regs for Health Care Law: Who’s Covered, Who’s Exempt, and What Happens If You Don’t Pay?
The IRS has finally released proposed regulations relating to the requirement to maintain minimum health care insurance coverage under the terms of the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010, as amended (“ACA”). Under the terms of ACA, there is a “shared responsibility to reform and…
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As IRS Opens Tax Season, Many Taxpayers May Be Able To File For Free
If you’re one of those taxpayers who usually files the second that you have your form W-2 in hand, take heart. Today is finally the day that you can rush down to your tax preparer or fire up the computer to do it yourself. The Internal Revenue Service has already delayed the filing season by…
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Tax Tips From The Pros
Tax season starts on January 30! To get things started, I asked tax professionals around the country to give me their top tax tips. Here’s some of what they had to say: If you refinanced in 2012, be sure to write off any prior refi costs that you have been writing off over a number…
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IRS Talks Opening Day & Tax Refunds
January 22nd has come and gone without incident. It was supposed to be opening day for tax season at the Internal Revenue Service. But with a last-minute tax deal, the IRS has pushed off opening day until January 30. Today, the IRS confirmed that opening day for tax season at the agency is still slated…
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With The Debt Ceiling Limit Looming, Is Your Tax Refund At Risk?
Every one of us has had that moment when we’ve had to shuffle the cards a bit to make sure all of the bills get paid. That’s exactly the situation our country is finding itself in right now. And what’s in the stack of “to pay later”? It could be your tax refund. How could…