[youtube https://www.youtube.com/watch?v=QNhweudHEWw]We are coming down to the wire – Tax Day is now just a day away. While most people have already filed their taxes, others are only just now ready to file. Still, there are those who will need to file an extension. The reasons for filing an extension are many, but are often due [...]
[youtube https://www.youtube.com/watch?v=7_516dpIZWU] Every year there is a subset of people who ask themselves if they have to file a tax return. The best way to find out the answer to this question is by checking out the Interactive Tax Assistant on IRS.gov/ITA and clicking on “Do I Need to File a Tax Return?” You will then [...]
[youtube https://www.youtube.com/watch?v=cTJcyeYzUec]It goes without saying that it takes the IRS much longer to process tax returns that have mistakes. That also means that those who make mistakes who are due refunds will likely have to wait much longer to get them. Here are the most common mistakes and how to avoid them: […]
[youtube https://www.youtube.com/watch?v=jx7ZulLb-PM] If you are one of many Americans who earn a low to moderate income, you may be eligible for a tax credit that can increase your tax refund. This credit is known as the Earned Income Tax Credit, or more simply the EITC. The credit is variable and depends on several factors, including your [...]
The following article was published by the IRS. Most taxpayers can claim one personal exemption for themselves and, if married, one for their spouse. This helps reduce their taxable income on their 2017 tax return. They may also be able to claim an exemption for each of their dependents. Each exemption normally allows them to deduct [...]