It’s not your imagination: it’s a busy tax season. With more questions than ever, taxpayers are seeking out resources to answer questions about the Affordable Care Act (Obamacare) penalties and premium tax credits, Foreign Account Tax Compliance Act (FATCA) reporting requirements and identity theft. Complicating matters, due to budget cuts, Internal Revenue Service (IRS) is…
It’s official: the 2015 tax season officially opened today. To coincide with the open, Walmart has announced the launch of Direct2Cash, a service that allows consumers to “skip the check” and pick up their tax refunds in cash. This isn’t a RAL (refund anticipation loan). It’s not a loan at all. It’s more of a…
Taxes from A to Z: O is for Overpayment
As tax season continues to roll, the IRS is reporting that refunds are being issued faster than in 2013. But not everyone is happy. What about those 570 codes – do they mean anything?
Tax season is finally here. Now that you’ve filed, you’re likely waiting on that refund… here’s what you need to know.
It’s 2013. Do you know where your refund is? No, not your 2012 refund (arguably, no one knows where many of those are) but your 2009 refund. Nearly $1 billion in outstanding refunds remain unclaimed by an estimated 984,400 taxpayers who did not file a federal income tax return for 2009. How much is a…
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.
Good things come to those who wait, right? It turns out that tax season won’t begin on January 22, 2013, after all – not that we expected as much. The Internal Revenue Service has announced that it has revised its opening date for tax season, pushing it out just eight days to January 30, 2013….
Expecting a refund in 2013? The IRS has announced they expect refunds to be processed about as quickly in 2013 as they were in 2012. Last year, the IRS issued more than 9 out of 10 refunds to taxpayers in less than 21 days; the average refund was about $3,000. For the new year, you…
It’s March 29, do you know where your refund is? It’s possible that it’s in someone else’s mailbox. Thieves are becoming more sophisticated these days with the Internal Revenue Service (IRS) posting “identity theft” and “phishing” at the top of the list for Dirty Dozen Tax Scams of 2012. Increasingly, dishonest persons are using information…