If the IRS owes you money, there’s no penalty for filing your taxes late. If you owe them money, things can get very ugly very fast. If you haven’t filed your taxes in years, here’s what you need to know.
The next time you want to tweet something about how much you hate paying taxes, or what you did with your huge tax refund, you might want to rethink it. An article from Washington State University professors took a look at the IRS’ data mining and analytics programs, and suggested the government agency is…
If you’re getting a tax refund, you’ve probably got big plans for it. Ideally, you’ll use it for good: paying off debt or finally building your emergency fund, for example. Whatever you choose, keep in mind: the IRS will let you split your refund across multiple accounts.
If you’re paying for college, you probably need all the help you can get, and thankfully, you can get at least a little tax relief. To see if you qualify for specific education-related credits and deductions, the IRS has created an online interactive tool.
If you owe the IRS money in April, you’re probably not in a hurry to do your taxes. And if you owe a lot, you might even contemplate paying your tax bill with a credit card to earn some sweet rewards. Not so fast, here are a few things to consider first.
If you owe the IRS money, be prepared for some changes. The IRS will now use private debt collectors for overdue federal debt, which might confuse some taxpayers. Here’s what you need to know.
Tax season is in full swing, which means tax scams are in full swing. The IRS just released an alert for seniors to watch out for phone scams, specifically. If you have grandparents or aging parents, you may want to let them know.
Like a lot of systems, the FAFSA (Free Application for Federal Student Aid) process is up in the air right now, and it’s frustrating. If you plan to apply for student aid anytime soon, or if you’re already planning, here’s what you should know.
You can file federal taxes with free file software if your income is under $64,000. Most people don’t know that, though: Consumerist reports that only about three percent of eligible filers take advantage.
Earlier this month, Republican leaders proposed The American Health Care Act, their plan to repeal and replace Obamacare. Some taxpayers might be a little confused over changes to the individual mandate. Keep in mind, nothing has actually changed yet, so go ahead and file your 2016 taxes as usual.
Tax Day is April 18th this year, so you have a few extra days to file. If you’ve already done your taxes, you’re either more responsible than I am or you’re getting money back. If it’s the latter and you still haven’t gotten your refund, the IRS has a tool to help you track it.
If you have a traditional Individual Retirement Account (IRA), you can deduct the money you save in that account from your taxable income. And tax procrastinators, there’s still time to do it for last year’s taxes.
One standout item from Trump’s 2005 tax return, revealed last night, was something called the “Alternative Minimum Tax” (AMT). If you’re not terribly familiar with it, here’s what the AMT is all about and why it matters.
The first year I started paying back my student loan, I had no idea the interest was deductible. I missed out and kicked myself for it years later. Don’t make the same mistake.
The IRS’ Free File program allows you to file your taxes for free and, if you earn less than $64,000 a year, they have free software to walk you through the process. Of course, there are similar third-party services, like TurboTax, that offer free tax filing, too. Credit Karma is the latest to join the mix.
Tax season begins January 23rd, and the earlier you file, usually, the earlier you’ll get your refund. However, if you claim the Earned-Income Tax credit or the Additional Child Tax Credit, the IRS warns of a slightly delay.
If you owe the IRS money and you want to see your tax details in one place, they recently released an online tool that shows your balance. Taxpayers can log on, check their account balance and pay directly from IRS.gov.
If you want to make extra cash on the side, there are plenty of options out there from Airbnb to Lyft to Etsy. You’ve probably heard this referred to as the gig, sharing, or on-demand economy. Whatever you want to call it, if you earn any of your income this way, you have to think about taxes. Here’s what you need to…
The school year is in full swing and many new grads have entered college. It’s a good time to see if you qualify for two common education tax benefits: the American Opportunity Tax Credit or the Lifetime Learning Credit.
If you usually get a big tax refund, it might be time to fix that. The IRS announced that refunds for 2016 taxes might be a little late and they urge taxpayers to adjust their withholding.