The Most Common Reasons Tax Returns Get Audited

“Only about 1% of taxpayers are audited. What triggers an audit is generally something on the tax return that’s out of the ordinary,” he says. “For example, if you have a side business and file a Schedule C, the IRS will flag large losses, particularly if they offset other income. The IRS is looking to Read more about The Most Common Reasons Tax Returns Get Audited[…]

5 Easy Ways to Fight the Urge to Borrow Against Your Tax Refund

5 Easy Ways to Fight the Urge to Borrow Against Your Tax Refund Sometimes we need money as soon as possible but borrowing money is not always a good idea. Taking out a loan based on money you’re expecting to get back from the government sounds harmless. Tax refund anticipation loans, or RALs, are an Read more about 5 Easy Ways to Fight the Urge to Borrow Against Your Tax Refund[…]

IRS Budget Cuts May Make For A Nasty Tax Filing Season

IRS Budget Cuts May Make For A Nasty Tax Filing Season The Internal Revenue Service on Tuesday began accepting tax returns electronically, and paper returns will begin to be processed at the same time. In a statement, the IRS reminded taxpayers that filing electronically is the most accurate way to file a tax return and Read more about IRS Budget Cuts May Make For A Nasty Tax Filing Season[…]

Summary of Federal Tax Law Changes for 2010-2016

Learn how federal tax law changes could impact your tax return in 2010 and beyond. Many of the tax breaks in recent tax-relief bills were designed to be phased in over a number of years, or are indexed to inflation. To help you determine how these tax laws affect your long-term planning, this article explains Read more about Summary of Federal Tax Law Changes for 2010-2016[…]

When Will You Get Your 2015 Tax Refund Check?

When Will You Get Your 2015 Tax Refund Check? The IRS plans to start processing 2015 tax refunds Jan. 20, 2015. If you’re expecting a 2015 tax refund, every day you wait to file is another day you have to wait to get back money that’s rightfully yours.   2015 Tax refund schedule basics There are Read more about When Will You Get Your 2015 Tax Refund Check?[…]

Do You Really Have To File Tax Return in 2015?

Do You Really Have To File Tax Return in 2015? Tax season opens in a few days. The Internal Revenue Service expects to process nearly 150 million individual tax returns by the time tax season wraps. Will you be filing one of those returns? And more important, do you need to? For the 2015 tax season, Read more about Do You Really Have To File Tax Return in 2015?[…]

IRS Releases Dirty Dozen Tax Scams for 2014

  The Internal Revenue Service today issued its annual “Dirty Dozen” list of tax scams, reminding taxpayers to  use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud. The Dirty Dozen listing, compiled by the IRS each year, lists a variety of common Read more about IRS Releases Dirty Dozen Tax Scams for 2014[…]