Posts filtered by tags: Taxes[x]


 

IRS offers more underwithholding tax penalty relief, but taxpayer ire over smaller refunds lingers

We've got just more than three weeks before our 2018 tax returns are due, but most of us aren't in any hurry to complete this task. Through March 15, the Internal Revenue Service reports that it has received almost 76 million 2018 tax year returns. That's 2.5 percent fewer than this point in last year's filing season. In fact, the IRS latest filing season data shows that 9 of 12 tracked areas are still slightly behind last year's pace. Only visits to IRS.gov, tax returns directly e-filed by tax...
Tags: Filing, IRS, Politics, Refund, Shout Out, Tax Reform, Taxes, Withholding, Republican tax bill, Smaller Refunds, Tax, Tax Cuts and Jobs Act, Trump tax reform, Underwithholding Tax Penalty, Skbell1


2019's Dirty Dozen tax scams repeat last year's list

Unfortunately for taxpayers and the Internal Revenue Service, there's nothing new under the sun when it comes to tax scams. Fortunately for taxpayers and the IRS, the tax agency and its Security Summit partners are still on top of the most common scams that continue to pop up in some form year-round. These 12 schemes, which have been dubbed the Dirty Dozen tax scams, get added attention, of course, during the main tax filing season. During these hectic days from Jan. 1 — yes, some folks are rea...
Tags: Identity Theft, IRS, Scams, Tax crimes, Tax fraud, Tax numbers, Taxes, Dirty Dozen, ID theft, Tax, Tax Scams, Skbell1


Are you ‘Kondo’ing’ your home? There’s a hidden tax benefit to tidying up

Americans are cleaning house thanks in part to Marie Kondo, author of The Life Changing Magic of Tidying Up, which has sold more than 4 million copies. Kondo makes the case that traditional methods of cleaning room by room are futile. Unnecessary belongings are moved first to corners, then to closets, spare rooms, and eventually to garages and storage units. As a result, with traditional housekeeping methods, we are always cleaning. Her KonMari Method is different, she claims, because it involve...
Tags: Business, Advice, Taxes, Top Stories Breeze, Top Stories IVDB, Top Stories LADN, Top Stories LBPT, Top Stories OCR, Top Stories PE, Top Stories PSN, Top Stories RDF, Top Stories SGVT, Top Stories Sun, Top Stories WDN


Credit Karma Tax Review – It’s Free, No Strings Attached

Why pay to file your taxes if you can get it done for free? Credit Karma is offering to file your taxes for free–no strings attached. Here’s our full review of the service. Credit Karma Tax Miranda Marquit's rating 9 Software Usability 9.0 Cost 10.0 ...
Tags: Credit, Taxes


Summer day camps offer fun for kids, tax break for parents

Spring has just arrived, but parents already are thinking about summer. Specifically, they're wondering who's going to take care of their kids once school is out for a few months. Now don't get me, or my friends, family and neighbors who have children wrong. We don't view schools and their teachers as babysitters. But classes do keep youngsters occupied for a big chunk of the day for most of the year. Then May and June roll around and for the next three or so months it's kids everywhere all the...
Tags: Credits, Family, Tax Tip, Taxes, Child and Dependent Care tax credit, Child Care Costs, Children, Day Camp, Daycare, School, Summer Camp, Tax, Skbell1


Obamacare 2018 tax year filing requirements

The Patient Protection and Affordable Care Act became law on March 23, 2010. During the almost nine years since President Barack Obama signed the health care bill, which usually is shortened to the Affordable Care Act (ACA) or Obamacare, opponents of the law have been working to repeal, maybe replace and definitely weaken it. Republicans succeeded in late 2017 in eliminating a key component of the ACA. Under the GOP's Tax Cuts and Jobs Act (TCJA), the ACA's individual health insurance mandate. ...
Tags: Credits, Filing, Forms, Healthcare Medical, Politics, Tax Tip, Taxes, 1095 Forms, ACA, ACA anniversary, ACA penalty, ACA subsidy, Affordable Care Act, Individual Mandate, Minimum Essential Coverage, Obamacare


2019 Federal Tax Regulations List

Since 2011, I've created and maintained websites that list the federal tax regulations issued to date for the year. Perhaps that sounds a bit tax nerdy, but I find it helps me get ready access to current regs and the preamble. It also helps with the tax update presentations I do throughout the year, providing that as a resource to attendees.  The webpage for the 2019 regs has links for all years back to 2011. Note that it's also a good way to see how many tax regs are issued each year. I hope y...
Tags: Regulations, Professor Nellen


Hispanic entrepreneurs more optimistic in business survey, and they’re hiring

Hispanic entrepreneurs are feeling better about their businesses and the nation’s economy than other business owners, a new report reveals. Bank of America’s 2019 Hispanic Small Business Owner Spotlight survey says 51 percent of Hispanic-owned businesses plan to hire more workers this year compared with 26 percent of non-Hispanic owned companies. Moreover, 87 percent of Hispanic businesses plan to expand their operations compared with 67 percent of all other businesses. ESCO Aerospace Manufactur...
Tags: Business, Taxes, Small Business, California, Los Angeles, Bank Of America, Sport, Economy, Soccer, Loans, Lockheed Martin, Hispanic, Trump, Northrop Grumman, La Puente, Fontana


6 tax tips for divorcing (or divorced) couples

Photo by Kumar's Edit via Flickr I've been married a long time. To the same guy. Marriage is not always easy and we don't even have a boss stirring up trouble between us. But we've made it through the tough times. And now as we patch things up when we do have our differences, we joke that we're staying together because it would be a bigger hassle to divorce. Sometimes, though, couples can't work through their troubles and decide to officially end their marriages. When that happens, among...
Tags: Taxes, Wisconsin, District Of Columbia, Irs, Internal Revenue Service, Kumar, TCJA, Divorce Dollars Cents Austin Woman Worth


Turbotax vs. TaxSlayer vs. Credit Karma Comparison

Looking to find the best way to file your taxes and save the money this tax season? Look no further than this comparison of three excellent options: TurboTax, TaxSlayer, and Credit Karma. E ach option listed here gives you a way to walk through your tax filing virtually, and they all file your taxes for you with the federal and state governments. All have various levels of support and guidance when you are filing your taxes, though. So depending on what you need, one option may serve your need...
Tags: Apple, Taxes, Marketing, Customer Service, Irs, Credit Karma, Federal, Turbotax, TurboTax TurboTax, Credit Karma Tax, Credit Karma Comparison, TaxSlayer Credit Karma, Try Credit Karma Tax Turbotax, TaxSlayer Review Credit Karma Tax, Federal 29 State Ultimate Same, State Try Credit Karma Tax Signing Up Signing


FinCEN, FBAR and other tax costs that prompt or slow U.S. expatriations

The rate of Americans giving up their citizenship has slowed in the last few years. Are lower taxes a reason for fewer expatriations? Immigration remains at the top of most news lists, especially since the Democratic-controlled House and Republican-led Senate both rejected Donald J. Trump's emergency declaration to shift funds to build a U.S.-Mexico border wall. But the reverse phenomenon of U.S. citizens formally leaving the country forever isn't getting as much attention as it has in th...
Tags: Taxes, Mexico, Massachusetts, Gop, United States, Maine, House, State Department, Irs, Bsa, Don, Internal Revenue Service, Treasury Department, Donald J Trump, FinCEN, Financial Crimes Enforcement Network


TurboTax vs FreeTaxUSA Comparison

Looking for help preparing your taxes on your own? There’s no shortage of tax prep software available for a variety of situations. As you try to decide which program to use, it can help to make a comparison. Here’s what you need to know about TurboTax vs FreeTaxUSA. B oth TurboTax and FreeTaxUSA offer you the chance to do your own taxes, for a price. However, TurboTax does cover more situations than its competitor, and is known for its customers service and trustworthiness. Additionally, Turbo...
Tags: Taxes, Marketing, Customer Service, EA, Irs, Turbotax, TurboTax Deluxe Homeowners, Best Tax Return Software Programs TurboTax


More than $1.4 billion in tax refunds awaiting claims by taxpayers who didn't file in 2016

Photo by GotCredit via Flickr CC Most of the focus on tax refunds this year has been on how many people are unpleasantly surprised by how small they are. In many (probably most) cases, the relatively small refunds are because people didn't adjust their payroll withholding last year to account for the Tax Cuts and Jobs Act (TCJA) changes to income tax rates and earnings brackets. Now we have another refund situation that also can be blamed on filers, or actually on nonfilers. Yes, I'm talk...
Tags: Taxes, Massachusetts, Time, North Dakota, Idaho, Maine, Wisconsin, Ira, District Of Columbia, Irs, Don, Internal Revenue Service, Uncle Sam, EITC, Charles Rettig, GotCredit


Taxes on your St. Patrick's Day green beer

Happy St. Patrick's Day! March 17 is one the top days for beer drinkers, ranking up there with New Year's Eve and Mardi Gras celebrations. Guinness says 13 million pints of its stout will be consumed worldwide today in celebration of the Emerald Isle's patron saint. The average number of drinks is just more than 4 per person. The folks making all the Erin go Bragh toasts and the establishments selling the drinks aren't the only ones celebrating St. Patrick's Day. Here in the United States, al...
Tags: Taxes, Congress, Britain, United States, Philadelphia, District Of Columbia, Guinness, Erin, Don, Emerald Isle, Tax Foundation, National Conference of State Legislatures NCSL, TCJA


Dakota residents have biggest federal tax bills, says study

Nobody likes to owe taxes at filing time. And if you owe too much, you could face added penalties for not having enough money withheld or underpaying estimated taxes throughout the year. But every year, lots of folks find they have to write a check to the U.S. Treasury or set up a payment plan with the Internal Revenue Service. The financial technology company SmartAsset.com recently took a look at where the U.S. taxpayers have the biggest tax bills. High plains tax bills: Sorry, Dakotans. Yo...
Tags: Taxes, California, North Dakota, New Hampshire, South Dakota, North, District Of Columbia, Sam, Irs, U S Treasury, Internal Revenue Service, Dakota, SmartAsset


No, that is not the Taxpayer Advocate Service calling in latest IRS impersonation tax scam

If a phone call from someone claiming to be with an official tax office doesn't sound quite right, it's because it's probably a scam call. (Photo by rocketace via Flickr) I'm not a paranoid person. And the only conspiracy theories I've ever paid attention to were the for-entertainment-purposes-only ones promoted on television's The X-Files. But I've got wonder if the tax crooks who are working nonstop to steal our identities and tax refunds also are colluding to troll the Internal Revenue...
Tags: Taxes, Brooklyn, Social Security, Houston, Irs, Ftc, Fox Mulder, Don, Department of Motor Vehicles, Federal Trade Commission FTC, TAS, Taxpayer Advocate Service, IRS Telephone Scam, Taxpayer Advocacy Panel, Internal Revenue Service Case, IRS Phone Scam


What the Hell Actually Happens to Money You Put in A Flexible Spending Account? 

It was a pretty small amount of money Sharon Davis lost, which is typical. Davis is a professor of sociology at the University of La Verne in California, and as with many American workers who go to an office and sit at a desk as a member of the professional class, her employer-sponsored benefits included the chance to…Read more...
Tags: Taxes, California, Davis, Lifehacks, University of La Verne, Flexible Spending Account, Health Savings Account, Sharon Davis


TaxAct vs. H&R Block vs. TaxSlayer: Which is the Best, Low-Cost Tax Services?

How are you filing your taxes this year? We’ve compared three of the big names in budget-friendly tax software to help you decide on one. Find out which comes out on top, here’s TaxAct vs. H&R Block vs. TaxSlayer. Table of Contents A Little Bit About Each Product Key Features Pricing Sign-Up Process Security Mobile Support & Accessibility Customer Service & Support Bottom Line: Which One Wins? Editor’s Note: Pricing is up to date as of March 3, 2019 I t’s almost tax time and you know wh...
Tags: Amazon, Taxes, Marketing, Customer Service, Military, Irs, Puerto Rico, Turbotax, H R Block, HSA, TaxAct, H R Block H R Block, Starting, TaxSlayer, IRS Publications, TaxAct Express


Ways to stymie tax identity theft attempts and scams

I attend fitness classes — OK, mostly yoga and I tend to head into Savasana a bit sooner than most of my fellow yogis — several times a week at my neighborhood club. Most of the members have been there for year and it's got a community feel. Still, I am always amazed at how much personal information folks share about themselves with people they really don't know very well.  Many folks, in fact, share stuff albeit unintentionally with total strangers as a recent piece by Kate Klonick for the New...
Tags: Taxes, New York Times, Social Security, Sam, Irs, Don, Internal Revenue Service, Dirty Dozen, Savasana, Kate Klonick, Klonick, Irwin Altman


401(k) Plan Tax Benefits – Why And How To Invest For Retirement

Investing for retirement is fraught with potential potholes in the road. And it is often confusing since there are so many options. Knowing about these 401(k) tax benefits can make your journey to retirement a little less bumpy. R egarding retirement, one thing is certain: investing in ways that take full advantage of tax benefits is important. Investing in only taxable accounts might sound good, since you get more flexibility in choosing how, when, and how much to invest. But the taxes can ta...
Tags: Taxes, Marketing, Social Security, Medicare, Ira, Blooom


Tax breaks can help pay many college costs

College and its ever-increasing costs certainly have gotten a lot of attention. There's the group of Democrats seeking their party's 2020 presidential nomination. Obviously spurred by the enthusiastic supporters of Independent-turned-temporary-Democrat Sen. Bernie Sanders and his promise of free college, many other White House wannabes also are talking up educational assistance. Then there's this week's Operation Varsity Blues. You might not have caught the name, but let me drop two others to s...
Tags: Taxes, Congress, White House, Democrat, Sam, Irs, Felicity Huffman, Don, Sen Bernie Sanders, Internal Revenue Service, Magi, Huffman, TTU, Loughlin, Lifetime Learning Credit, Lori Loughlin


Tech observation in President's FY2020 budget proposal for IRS

President Trump released his FY2020 budget proposal on March 12. [ , page 82] It slightly increases IRS funding to “expand and strengthen tax enforcement.” Such efforts “are estimated to generate approximately $47 billion in additional revenue at a cost of $15 billion, yielding a net savings of $33 billion over 10 years.  The Budget also includes several proposals to ensure that taxpayers comply with their obligations and that tax refunds are only paid to those...
Tags: Budget, Taxes, Irs, Trump, Professor Nellen, Nellen, Modernizing Tax System, U S Post Office Will


TurboTax vs. H&R Block vs. TaxAct

On a budget? Need CPA advice? Have complicated taxes? There are a few tax filing options here for you. Let’s take a look at some of the best on the market – TurboTax vs. H&R Block vs. TaxAct. Table of Contents What Do They Do? Product Features Pricing and Fees Signing Up Security Mobile Support/Accessibility Customer Service and Support Pros and Cons Which Is Best for You? Bottom Line A s you get ready to prepare your taxes for the 2018 tax year, you’ll likely be confronted with a myriad...
Tags: Taxes, Marketing, Customer Service, Irs, Federal, Turbotax, H R Block, TaxAct, H R Block H R Block, TurboTax H R Block, TurboTax Pros, Price Range State, State Premium Investment, State Tax Pro Review Live, State Premier Investments, TurboTax H R Block Pros


Tax extenders get W&M hearing, but renewal unclear

Rep. Mike Thompson opens a Ways and Means subcommittee hearing into temporary tax policy, aka tax extenders. (Screenshot from official hearing video via YouTube) House tax writers have finally, officially looked at expired tax provisions, known popularly as extenders. But anyone hoping for a quick resolution or an indication that the many now-dead tax breaks might be revived by the April filing deadline was disappointed. Rep. Mike Thompson (D-Calif.), chairman of the Ways and Means Select...
Tags: Taxes, Congress, Oregon, Senate, House, Iowa, Chuck Grassley, Agi, Ron Wyden, Thompson, Calif, Senate Finance Committee, Treasury Department, Mike Thompson, Olson, Tax Foundation


The best tax software for filing your taxes in 2019

The best tax software offers a variety of different services for saving money, completing your taxes at top speed, or getting the guide need for more complex tax scenarios that you haven't had to deal with before. The post The best tax software for filing your taxes in 2019 appeared first on Digital Trends.
Tags: Taxes, Trends, Computing, Irs, Tax Software, E-taxes


Trump's FY 2020 budget proposes more IRS money

The White House's fiscal year 2020 budget proposal was delivered to Capitol Hill today. (Screenshot from AP video via USA Today) The Trump White House today released its fiscal 2020 budget request. The annual fiscal request for money is a month later than usual this year because of the 35-day government shutdown. In his latest budget proposal, Donald J. Trump asks for $8.6 billion for the border wall. He's also calling for spending cuts of $2.7 trillion, the largest proposed reduction eve...
Tags: Budget, Taxes, Congress, Senate, White House, Ap, House, Treasury, Capitol Hill, Sam, Irs, Trump, U S Treasury, Donald J Trump, Olson, National Taxpayer Advocate


Mapped: States with the best/worst tax burdens (Psst! California isn’t that bad!)

The state and local tax burden for Californians runs middle-of-the-pack nationally, according to a WalletHub analysis that measured the tax collector’s take against comparative income levels. The financial information site’s data crunchers studied spending on state and local sales, excise, property and income taxes and compared that cash flow to different income brackets. When I filled my trusty spreadsheet with their results, I found California had the combined No. 23 lowest tax burden among th...
Tags: Business, New York, Taxes, News, California, Montana, Washington, California News, Sport, Economy, Soccer, Wyoming, Maine, Alaska, Hawaii, Connecticut


What Is The Cheapest Tax Software for 2019?

If you don’t qualify to file your taxes for free, what’s the next best option? We’ll compare prices and features below to help you find the cheapest tax software. T here are five major tax preparation software packages on the market that most do-it-yourself tax preparers will use: Credit Karma Tax, TurboTax, TaxACT, H&R Block, and eSmart Tax. Comparing these options to find the cheapest can be a real chore. Each has several editions with varying features. As a result, it is essential to compar...
Tags: Podcast, Taxes, Marketing, EA, Credit Karma, Turbotax, HSA, S Corp, TaxAct, Liberty Tax, Credit Karma Tax, Credit Karma Tax TurboTax, Audit Defense Never, Credit Karma Tax Audit Defense If Credit Karma Tax, Credit Karma Tax Official Website TurboTax Best, EA Here


How to Spend Your Income Tax Refund – 25 Ideas

Are you getting a big IRS income tax refund? It’s always nice to get a nice chunk of change coming back to you, isn’t it? But what will you be doing with your income tax refund? I’m not always fond of looking forward to a large refund but they do happen and I know some people love getting them.  If you are getting a large income tax refund then at least put some thought into how you are going to use that money. Having money in the bank is a great thing and when it’s a sizable amount you can...
Tags: Garden, Taxes, Marketing, Ira, Irs, Don, Income Tax Refund


NTA suggests greater transparency - great ideas!

https://taxpayeradvocate.irs.gov/reports/2018-annual-report-to-congress/NTA-Purple-Book  The IRS National Taxpayer Advocate's Annual Report to Congress released in February (   IR-2019-11 (2/12/19) + Report ) includes the 2nd edition of the  “Purple Book” with 59 legislative recommendations to improve taxpayer rights and tax administration. Two of the recommendations aim to strengthen taxpayer rights. They also improve the transparency of the tax system, which is a principle of goo...
Tags: Transparency, Taxes, Congress, Irs, NTA, National Taxpayer Advocate, Professor Nellen, Nellen, TBOR, 7523, Taxpayer Receipt, NTA Purple Book The IRS, IRS Mission Statement 2 Require the IRS, Taxpayer Bill of Rights on the IRS