Child Tax Credit Eligibility
The Internal Revenue Service reminded families today that some taxpayers who claim at least one child as their dependent on their tax return may not realize they could be eligible to benefit from the Child Tax Credit.
Didn’t Claim Your Tax Benefits? There’s Still Time
Internal Revenue Service is sending letters to over 9 million potentially eligible families who did not claim benefits. Opportunities to E-File will stay open until Nov. 17.
IRS Updates Feature on ‘Where’s My Refund?’ Online Resource
The IRS has updated features on their “Where’s My Refund?” online resource. See what this means for you.
What To Do About Debt Post-Marriage
I got married and found out my spouse owes back child support, student loans and owes the IRS – what do I do now?
Retired? Know What You Owe
I’m retired and over age 65 – what taxes do I owe? This is a complex question that varies depending on your income.
Don’t Forget to File Your Local Tax Return
Did you file your taxes online? Then it’s possible you forgot to prepare a Local Income Tax Return. Most online tax software does not prepare or file a local income tax return. In the state of Pennsylvania, a local income tax return is required in most counties. You pay 1% or in some areas a…
Virtual Currency, Cryptocurrency and Taxes
What is virtual currency? Virtual currency is a digital representation of value, other than a representation of the U.S. dollar or a foreign currency (“real currency”), that functions as a unit of account, a store of value, and a medium of exchange. Some virtual currencies are convertible, which means that they have an equivalent value…
How to File Taxes for Years Past
What if I missed a tax year and didn’t file my taxes? You can file your taxes any time, however, if you owe the IRS for that tax year you will incur hefty penalties and interest from the due date of the tax return. If you’re due a refund, the IRS will pay you interest,…
How To Not Owe 2022 Taxes
Owed taxes? How do I fix it for next year? There are many ways to adjust your tax situation now, so you won’t owe 2022 taxes. If you are an employee and are paid on a W2, then fill out a new W4 with your employer. The easiest way is to take the amount you…
Why Filing Taxes Is Important (Even if You Won’t Get a Refund)
So, I owe taxes, now what? First off, many people think if they owe taxes they should just not file their tax return. This is the most misunderstood concept when it comes to owing taxes. If you file a tax return, you will avoid the late filing penalties. The IRS will continue to assess interest…