The IRS reminds taxpayers that the fastest way to obtain a copy of his transcription of taxes is requesting it online using the application order transcript at IRS.gov. If you plan in advance, they should receive your transcript in the mail within 5 to 10 days from the moment in which the IRS receives the… Read More »
The campaign, which will continue beyond the period of April tax filing, was announced today at an event sponsored by the Federation of Tax Administrators event, made by state tax agencies nationwide. The effort is part of the Security Summit, a collaborative effort initiated in March between states, the IRS and the tax industry. The… Read More »
The IRS Tax Bracket for 2015 tax is different, yet similar to the tax bracket for 2014. Every year, the IRS adjusts more than 40 tax provisions for inflation to make sure the numbers do not get out of whack with what is going on in the economy. IRS Tax Bracket for 2015 and… Read More »
Most people have their taxes filed because it is required, but even if they do not have to legally file taxes, there are times when you should file a federal tax return. For example, you may be eligible for a tax refund and not know it. Who Must File a Tax Return for 2014 This year… Read More »
Most people forget about taxes after filing. But there is no better time than the present to start planning all about taxes for the next year. It’s never too early to establish a system of organized record. Here are six tips from the IRS to help you plan for taxes this year: Planning for Next Years Tax… Read More »
If you file your tax returns electronically using software to file online, you must sign the tax return using the method of self-signed personal identification number ( PIN).This method allows taxpayers to electronically sign your tax on personal income by selecting a PIN five digits. Using PIN to file Tax The PIN consists of five digits (excluding all zeros)… Read More »
Students applying to college and their parents generally need to supply tax information on the FAFSA for financial aid. IRS Information and FAFSA Form for College The Internal Revenue Service (IRS) is helping to reduce the time spent preparing the Free Application for Federal Student Aid (FAFSA) by the automated access to federal tax… Read More »
If you are an independent contractor or drive your own business, there are some basic things you should know when it comes to their federal taxes. Here are six tips on receipts from self-employment: Self-Employment Tax Tips Income from self-employment may include receiving pay for work part time. This is in addition to your regular income… Read More »
Earned Income Credit 2014 table Earned Income and adjusted gross income (AGI) must each be less than: $46,997 ($52,427 married filing jointly) with three or more qualifying children $43,756 ($49,186 married filing jointly) with two qualifying children $38,511 ($43,941 married filing jointly) with one qualifying child $14,590 ($20,020 married filing jointly) with no qualifying children … Read More »
The government shutdown that occurred in October 2013 will likely have effects on the 2014 tax filing season and will push tax refunds from 2013 further back into 2014. The IRS announced that it would not start processing 2013 tax returns until January 31, 2014. Government Shutdown and 2013 Tax Refund Delays This is 10… Read More »