Chances are, you’re about to come into some money soon — whether it’s your tax refund or the 2021 stimulus check. But what do you do with it now that you have it? For many people, getting a lump sum of money is new to them and they don’t want to blow the opportunity. That’s…
Looking for your interest? The Internal Revenue Service (IRS) will begin sending interest payments to individual taxpayers who timely filed their 2019 federal income tax returns and are due refunds. The IRS pegs that number at about 13.9 million taxpayers. In June, the IRS announced that if you were entitled to a 2019 tax refund, individual federal income tax…
The Internal Revenue Service (IRS) may have your money. The tax agency has announced that more than $1.5 billion in outstanding refunds remain unclaimed from 2016. Yes, billion. That represents well over one million taxpayers who might have qualified for a refund but did not file a federal income tax return for 2016. If you are due…
If you were entitled to a 2019 tax refund, you may be in store for some good news: individual federal income tax refunds issued after April 15 will be paid with interest. The Internal Revenue Service (IRS) has announced that individuals who file their 2019 tax returns before the July 15 deadline will receive interest…
As COVID-19 continues to impact the United States, the federal government is taking action to ease the burden on taxpayers. Most recently, as part of the CARES Act, the Treasury Department is sending out stimulus checks to most (but not all) Americans. Those stimulus checks are starting to hit bank accounts now, which is offering relief…
The tax filing season opens on January 27, 2020. If you’re looking for ways to keep on top of things, check out IRS2Go, the official mobile app of the Internal Revenue Service (IRS). With IRS2Go, you can check your refund status, make a payment, and find free tax preparation assistance. Some of the features on…
It’s a good idea to mull over other strategies before applying for a tax Refund Anticipation Loan (RAL). Just make sure they’re appropriate alternatives. Here are a few to consider: 1. Adjust your withholding. If you’re getting a big tax refund, that can mean that you’re having too much money withheld from your paycheck. You might do better…
Tax season opens Monday, January 27, 2020. The beginning of tax season can be a busy and anxious time for taxpayers – especially those who are waiting for tax refunds. Sometimes, taxpayers who are waiting for refunds turn to refund anticipation loans (RALs). Here’s what you should know about how they work and why you…
Worried about your tax refund during the government shutdown? The White House Office of Management and Budget says that tax refunds will be paid even if the federal shutdown drags on through the filing season. Traditionally, the Internal Revenue Service (IRS) has not issued refunds to taxpayers while the government is shut down. That appeared…
It’s Ask The Taxgirl!
Today I tackle what to do with your tax refund.