1) Check Your Withholding First, make sure that your tax withholding is correct. This can be done easily using the Tax Withholding Estimator from the IRS. Checking your withholding is important because it helps you avoid unexpected tax bills when you file your 2020 tax return. These are some cases when checking your withholding is…
An ITIN is a tax identification number issued by the Internal Revenue Service (IRS). Some ITINs expire in 2020, so it’s important to check if yours is among them and, if so, make sure to renew it to avoid refund delays. What Does ITIN Stand For? The acronym ITIN stands for Individual Taxpayer Identification Number. This…
Your tax filing status is a category that determines the rate at which your income is taxed. Generally speaking, your filing status depends on whether you are single or married on December 31. That fact determines your status for the whole year. In some situations, more than one status may apply (you can see all…
Criminals and cybercriminals always take advantage of confusing situations to lure other people into their schemes. From phishing to fake charities, these are some tax-related scams you should be aware of. 1. Phishing One of the favorite tactics of cybercriminals is sending fake emails or links to websites that request personal information. In this regard,…
Did you request an extension to file your 2019 tax return? If the answer is “Yes”, then there’s an important date to keep in mind. Remember: people who requested an extension have until Thursday, October 15 to file their taxes. The original deadline was July 15, but taxpayers could request an extension as long as…
July 15, the deadline to file and pay your taxes has come and gone. Those who couldn’t file by that date had the option to make payment and request an extension. But what if for any reason you didn’t file and didn’t request an extension? Keep reading to discover what are the alternatives at your…
The deadline to file and pay your taxes was yesterday, July 15. This means that a lot of people are already waiting for their tax refund. If you are owed a refund, keep reading to discover some facts you should keep in mind. How to Track Your Refund Using the internet is the best alternative…
It’s true: The coronavirus outbreak has upended our routines. But there are still some dates you must make sure not to forget, and that includes Tax Day. The federal Tax Day was originally scheduled for April 15, but it was moved to July 15 to offer financial relief to those affected by the coronavirus outbreak.…