This article was published by the IRS. The Internal Revenue Service is reminding taxpayers whose income is not subject to withholding that the second quarter estimated tax payment deadline is June 17. Taxpayers making estimated tax payments should consider this deadline to avoid falling behind on their taxes and facing possible underpayment penalties. And the IRS [...]
Income taxes are a pay-as-you-go system. That means you pay your taxes as you earn income during the year. Either your employer withholds tax from your pay, or you pay quarterly estimated taxes on your own. If you have income that's not subject to withholding, you may need to make quarterly payments. This includes income such [...]
It's important to think about hurricanes, tornadoes, and other disasters so you're prepared in case they happen. This includes safeguarding your tax forms and other financial records. First, you could take advantage of electronic record keeping. See if you can receive your bank statements and related documents by email. For paper documents such as W-2s and [...]
Class is in session! It's time to learn how education tax credits can help pay for higher education. Visit IRS.gov for more information. There are two education tax credits that can help offset the cost of higher education: the American Opportunity Tax Credit and the Lifetime Learning Credit. These can help if you're heading to college, [...]
If you've filed your tax return, you may be wondering when you'll get your refund. If you head over to IRS.gov/refund, you'll find the IRS' "Where's My Refund?" tool. 24 hours after electronically filing your taxes, you can check on the status of your money on the IRS website. You can also access "Where's My Refund?" [...]
