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How are Charitable Deductions Affected by the TCJA?

How are Charitable Deductions Affected by the TCJA?

Generosity has its perks, or rather its tax benefits. Keep in mind, taxpayers are able to easily itemize once they exceed their standard deduction. This typically happens by taxpayers claiming charitable donations along with any expenses they have. It then becomes greater than their standard deduction. However, the standard deduction is twice the amount for 2017. […]

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April 15, 2019 is the Last Day to Claim your 2015 Refund!

April 15, 2019 is the Last Day to Claim your 2015 Refund!

Running late on your refund? Refunds come and go when it comes to taxes. Luckily, for you, you can still claim the 2015 refund that you’ve been delaying. Just remember, you have three years within the original due date of your 2015 tax return to claim your refund. This is due to the IRS Statute of […]

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What do I do if someone else claimed my dependent?

What do I do if someone else claimed my dependent?

In the worst case scenario, the IRS rejects your tax return. Someone else claimed my dependent. What should I do? Luckily, the IRS gives you options in case you’re stuck in this situation. Unfortunately, the IRS cannot disclose who claimed your dependent. Typically it’s either the other parent, their child claimed themselves as an exemption […]

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When is the Deadline to File Taxes for 2018?

When is the Deadline to File Taxes for 2018?

Am I too late to file my 2017 taxes? For taxpayers who are receiving a refund, there’s absolutely nothing to worry about! The IRS does not attach penalties to late returns that have refunds. On the other hand, if you had a tax due to the IRS, you must have paid your taxes to the IRS by […]

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Can I pay my federal taxes with a credit card?

Can I pay my federal taxes with a credit card?

The IRS can’t directly accept credit card payments due to tax laws. However, they can accept payments through a third-party processor. For example, online tax preparation companies are third-party processors since they are designated by a merchant to handle transactions for merchant acquiring banks. They can then assist you in making your credit card payment […]

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