Some taxpayers may need to make estimated tax payments during the year. The type of income you receive determines whether you must pay estimated taxes. Here are six tips from the IRS about making estimated tax payments. If you do
Category: Tax Filing
Avoid Common Errors – Last Minute Filers
IRS Tax Tip WASHINGTON, D.C. — The Internal Revenue Service reminded taxpayers to review their tax returns for common errors that could delay the processing of their returns. Here are some ways to avoid common mistakes. File electronically. Filing electronically, whether
Need More Time to File?
Five Things to Know if You Need More Time to File IRS Tax Tip 2013-52, April 10, 2013 The April 15 tax-filing deadline is fast approaching. Some taxpayers may find that they need more time to file their tax returns.
Free Copy of Tax Return Transcript
Your Tax Return or Tax Account Transcript can be Ordered Online for Free A transcript is acceptable as a substitute for a copy of a previously filed tax return in many situations. The IRS offers two types of transcripts: Tax
IRS Swamped
The Internal Revenue Service said Tuesday that its Modernized e-File Prouction system is taking longer to generate federal acknowledgments for tax return filings. The IRS said the situation “may continue throughout the remainder of the day as receipts increase” of
Report 2010 Roth Conversions on 2012 Returns
IRS Reminds Taxpayers to Report 2010 Roth Conversions on 2012 Returns IR-2013-21, Feb. 19, 2013 WASHINGTON — The Internal Revenue Service reminds taxpayers who converted amounts to a Roth IRA or designated Roth account in 2010 that in most cases
10 Facts About Mortgage Debt Forgiveness
Canceled debt is normally taxable to you, but there are exceptions. One of those exceptions is when the debt is partly or entirely forgiven during 2007 through 2012. Here are 10 facts about mortgage debt forgiveness: Normally, debt forgiveness results
Determining Your Correct Filing Status
It’s important to use the correct filing status when filing your income tax return. It can impact the tax benefits you receive, the amount of your standard deduction and the amount of taxes you pay. It may even impact whether
Refund Cycle Chart Discontinued by IRS
No Refund Cycle Chart In previous years, the IRS would publish a refund cycle chart showing when a particular tax return would be deposited into a taxpayers bank account if they elected Direct Deposit of their refund. This was true
Business e-File Starts February 4
Many businesses will be able to file their 2012 federal income tax returns starting Monday, February 4. The Monday opening covers non-1040 series business returns for calendar year 2012, including Form 1120 filed by corporations, Form 1120S filed by S