Posts Tagged ‘tax refund’
Posted by Manisha Hansraj on May 31, 2019 Last modified: June 17, 2019
Did you miss the tax deadline for your 2017 taxes?
Although you’re late, you can still file your late 2017 taxes. However, you won’t be able to e-file your tax return.
Dates to remember
The 2018 tax season ran from January 29, 2018, to October 15, 2018. The official tax deadline was April 17, 2018, due to April 15 falling on a weekend and Emancipation Day following after. The e-file and extension deadline was October 15, 2018; therefore, you are now required to mail your return to the IRS.
Can I still claim a refund?
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Tags: 1099, 1099-MISC, 2017 tax calculator, 2017 tax return, 2017 tax year, 2017 taxes, e-file, e-file deadline, efile, file 2017 taxes, file 2017 taxes in 2019, form 1040, form 4506-T, IRS, IRS penalties, late taxes, lost W-2, paperfile, prior year tax, statute of limitations, tax deadline, tax debt, tax refund, Wage and Income Transcript
Category: Tax Deadlines, Tax News, Tax Tips and Tricks, Taxes for Prior Years
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Posted by Manisha Hansraj on May 6, 2019 Last modified: May 9, 2019
Set an alarm on your phone, write on your notepad or put an “x” on your calendar.
Like most taxpayers, you may be rushing to claim your prior year refunds. If you remember that you have a 2016 refund waiting for you, you’re not too late.
Read below to find out if you can still claim your refund.
Can I still claim my refund?
Luckily, because of the IRS Statute of Limitations for prior year refunds. You have three years from the original tax deadline of your return to claim your refund. Otherwise, your refund expires and goes straight to the IRS. That being said, the original tax deadline for 2016 taxes was April 18, 2017, due to April 15th falling on the weekend and Emancipation Day right after.
Deadline to claim your refund
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Tags: 2016 refund, april 15, contact the IRS, failure-to-file, failure-to-pay, IRS penalties, statute of limitations, tax deadline, tax extension, tax refund
Category: Tax and Life Changes, Tax Deadlines, Tax News, Tax Tips and Tricks, Taxes for Prior Years
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Posted by Manisha Hansraj on April 12, 2019 Last modified: April 12, 2019
Important upcoming deadlines you need to know.
Tax season is a stressful time for some taxpayers. However, knowing each tax deadline will give you a heads up so you know how to stay on top of your game.
For all the 2019 tax deadlines that are left, take a look at the list of due dates below.
April 15, 2019
- Individual Income Taxes deadline
- Last day to file and pay if you owe taxes to the IRS without accumulating penalties
- Final day to file a tax extension to the IRS
- First Estimated Quarterly Tax Payment due
- Sole proprietor, LLC, and corporation taxes due
- IRA contribution deadline
- Last day to postmark, paper-file and claim your 2015 refund
April 17, 2019
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Tags: 2015 refund, 2018 tax return, 2018 taxes, 2019 tax season, deadline for taxes 2018, estimated tax, estimated tax payment, extension deadline, failure-to-file, failure-to-pay, form 1040, IRS penalties, late filing penalty, Maine, Massachusetts, natural disaster, paperfile, statute of limitations, tax deadline, tax extension, tax refund
Category: Tax and Life Changes, Tax Deadlines, Tax for Business, Tax News, Tax Tips and Tricks, Taxes for Prior Years
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Posted by Manisha Hansraj on March 28, 2019 Last modified: March 28, 2019
The new tax season brought in a lot of changes, and your job expenses are one of them.
If you’ve noticed on your tax returns that you can’t deduct your W-2 job expenses for 2018, you’re partially correct. Unfortunately, not everyone can claim their out-of-pocket job expenses.
Here’s the breakdown.
Eligibility
The new tax laws have narrowed down on who claims their W-2 job expenses, mainly by their occupation.
You can only deduct your job expenses if you’re one of the following: (more…)
Tags: 2018 tax return, 2018 tax year, 2018 taxes, current year tax return, extension, filing status, IRS penalties, job expenses, late filing penalty, standard deduction, tax cuts and jobs act, tax deduction, tax extension, tax refund, unreimbursed job expenses, W-2, w-2 job expenses
Category: Tax and Life Changes, Tax Deadlines, Tax News, Tax Tips and Tricks
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Posted by Manisha Hansraj on February 27, 2019 Last modified: February 28, 2019
Unfortunately, education isn’t free for some students.
If you’re a college student, parent, guardian or anyone paying out-of-pocket for tuition, fees, and required course materials needed for enrollment, you will receive a Form 1098-T. This tuition statement form reports all of your transactions, which means the payments you make to your school.
What does a 1098-T statement look like?
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Tags: 1098-t, 2018 tax return, 2018 tax year, 2018 taxes, AGI, american opportunity credit, e-file, education credit, IRS, lifetime learning credit, qualified educational expenses, qualified expenses, refund, student loan interest, student loan interest deduction, tax refund
Category: Tax and Life Changes, Tax Deadlines, Tax Deductions and Credits, Tax News, Tax Tips and Tricks
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Posted by Manisha Hansraj on November 27, 2018 Last modified: November 27, 2018
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.
Due to the Tax Cuts and Jobs Act (TCJA), taxpayers who itemize may face some difficulties next year.
Read on to find out what you can do to be prepared for next year!
“Bunching,” a word that people can’t stop talking about.
If you’re surfing the web for information on charitable donations, you might run into the term, “bunching.” It may be confusing, so we’re here to clear it up for you. (more…)
Tags: 2018 charitable deductions, 2018 tax return, bunching, charitable contributions, charitable deductions, charitable deductions 2018, charitable donations, filing status, gifts to charity, head of household, IRS, itemized deduction, joint tax return, late taxes, married filing jointly, married filing separately, new tax bill, non cash contribution, standard deduction, tax cuts and jobs act, tax refund, tcja
Category: Tax and Life Changes, Tax Deductions and Credits, Tax News, Tax Tips and Tricks
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Posted by Manisha Hansraj on October 30, 2018 Last modified: April 23, 2019
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 Limitations, which limits taxpayers in claiming a prior year refund. After the three year deadline, your refund expires and goes to the IRS.
Don’t wait. Get the money you’re entitled to.
Will I be able to e-file my taxes?
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Tags: 2015 refund, 2015 tax calculator, 2015 taxes, contact the IRS, e-file, form 4506, form 4506-T, income and wage statement, IRS, late taxes, paperfile, prior year tax, statute of limitations, tax refund, tax transcript
Category: Tax Tips and Tricks
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Posted by Manisha Hansraj on October 16, 2018 Last modified: October 19, 2018
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 on their individual tax return, another member of the household such as the grandparent, or any other person that lived with the child for a portion of the year.
What you need to do.
If you’re filing a current year return, you may receive a rejection due to your dependent’s social security number. In this case, you should double-check that you reported their SSN correctly. If it is reported correctly, you will need to paper file your return; meaning you must print, sign and mail your return to the IRS. You cannot e-file it since the IRS will reject it again. (For tax season 2018, the e-file and extension deadline has passed on October 15, 2018. Therefore, you must paper-file your return.)
You may receive a CP87A Notice which notifies each party that if they incorrectly claimed the dependent, they need to file an amended tax form. If you can rightfully claim the dependent, you do not need to respond to this notice. In order to dispute the claim of your dependent, you will need to attach a cover letter (more…)
Tags: child and dependent care tax credit, claiming dependent, contact the IRS, CP87A notice, dependent, IRS, IRS penalties, irs rejection, late taxes, paperfile, qualifying child, qualifying relative, someone claimed my dependent, tax deduction, tax refund
Category: Tax Tips and Tricks
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Posted by Manisha Hansraj on September 19, 2018 Last modified: November 28, 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 the tax deadline which was April 17, 2018 or you will be subject to penalties.
Read on to find out the steps you need to take in order to file your return.
Can I still E-file?
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Tags: 1099, 2017 tax deadline, 2017 tax return, 2017 tax year, 2017 taxes, 2018 tax season, contact the IRS, deadline for taxes 2018, deadline to file taxes 2018, failure-to-file, failure-to-pay, interest, IRS, irs deadline 2018, IRS penalties, late taxes, natural disaster, penalty relief, reasonable cause, refund, tax refund, taxes owed, unpaid tax, W-2
Category: Tax and Life Changes, Tax Deadlines, Tax News
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Posted by Manisha Hansraj on January 16, 2018 Last modified: September 25, 2018
Don’t delay your 2014 refund.
Your 2014 refund is waiting for you. Luckily, the IRS allows you to claim your refund due to their convenient Statute of Limitations. However, you have three years from the original tax deadline date to claim your tax refund. With that in mind, if you wait three years after the filing deadline, your refund will expire. On top of that, if you fail to claim your refund, the IRS will collect it and you will no longer be entitled to your refund.
That sounds like a waste, doesn’t it? Read to find out what you need to do in order to claim your 2014 tax refund.
Can I still E-file?
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Tags: 2014 refund, 2014 tax calculator, 2014 tax return, 2018 tax season, prior year tax, tax refund
Category: Tax Deadlines, Tax Tips and Tricks, Tax Year 2014, Taxes for Prior Years
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