- Tax Form 1095-A Details
Form 1095-A is a tax document Americans need to file if they buy health insurance through the government health insurance marketplaces established by the Affordable Care Act (commonly known as Obamacare). This is not a form you will actually fill… read more…
- All About IRS Form 8965
If you’re claiming an exemption from healthcare coverage, you’ll need to fill out IRS form 8965 when you do your federal income taxes. This form helps you comply with Affordable Care Act rules that require health insurance coverage for just… read more…
- Head of Household Filing Status: Definition, Rules and Requirements
For IRS purposes, a head of household is generally an unmarried taxpayer who has dependents and paid for more than half the costs of the home. This tax filing status commonly includes single parents and divorced or legally separated parents (by… read more…
- 6 Things You Shouldn’t Do If You Owe the IRS at Tax Time
While everyone hopes to come out even or get some money back when they file their taxes each year, sometimes people do end up owing money – and there is a smart way to go about dealing with that. Owing… read more…
- How to Do Your Taxes at Home
There are several good reasons to consider filing your own tax return. It can be cheaper than putting everything in the hands of a professional. You’ll learn how to lower your tax bill and you’ll be able to crunch the… read more…
- What Is a Tax Refund and Why Do We Get Returns?
Tax season can be stressful. But for many taxpayers, there is a light at the end of the tunnel in the form of a tax refund. Indeed, many people even depend on their annual refund, using the windfall for everything… read more…
- How to Fill Out Your Form 1040
Form 1040 is the tax form you will fill out every year when you do your federal income taxes. Prior to the 2018 tax year, there were multiple versions of the 1040 form, but for 2019 and beyond, the form… read more…
- All About IRS Form 1040A
Update for the Current Tax Laws: President Trump signed a new tax plan into law in December 2017. The new law consolidated forms 1040, 1040A and 1040EZ into one redesigned Form 1040 that all filers can use. For your 2019 taxes, which… read more…
- Comprehensive Guide for How to File Your Taxes
Filing your taxes on an annual basis is a major part of everyone’s financial life. While the idea of filing might seem intimidating at first, there are many services and methods available to make doing so much easier. For instance,… read more…
- All About IRS Form 1040EZ
In late 2017, President Trump signed a new tax plan into law. This law consolidated the forms 1040, 1040A and 1040EZ into a single redesigned Form 1040 that all filers can use. For your 2022 taxes, which you file in 2023, and… read more…
- How to Fill Out a W-2 Form
One of the most important tax forms is the W-2. Unlike many tax forms, most individuals taxpayers won’t need to fill this one out themselves. Rather, employers fill out W-2 forms for their employees. If you’re an employer who doesn’t… read more…
- How and When to File an Amended Tax Return
Given the complicated nature of income taxes and the popularity of convenient but not foolproof DIY tax filing software, it’s understandable that you may make a mistake on your taxes at some point. When this happens, you’ll need to file an… read more…
- Understanding How 1099 Forms Work
The first thing you should know about the different types of 1099 forms is that if you’re a worker, you don’t need to fill them out yourself. Instead, the entity who is administering your investment account will send you a… read more…
- What You Should Know About Estimated Tax Payments
If you are an independent contractor or business owner, you are responsible for making sure that you get the correct tax payments to the government — unlike people who work as employees of a company which withdraws payments from each… read more…
- 5 Reasons Married Couples Should Consider Filing Taxes Separately
As a general rule, you shouldn’t wait until the last second to file your tax return. It helps to plan and make certain decisions ahead of time to speed up the process. For one, if you’re married, you’ll need to… read more…
- How to File a Tax Extension
The deadline to file your 2022 taxes is April 18, 2023 (April 15, 2024 for tax year 2023). But you may need even more extra time. If you think you’ll need more time to get your taxes done, filing a… read more…
- What Can Happen if You Don’t File Your Taxes?
If you’re expecting to get a big refund, tax season is probably something you look forward to each year. On the other hand, if you always end up owing Uncle Sam, then the April deadline may be a date you… read more…
- 4 Things to Know About the October Tax Extension Deadline
Taxpayers who can’t get their paperwork in order by the extended May 17 filing deadline for their 2020 taxes can buy themselves a little more time by requesting an extension. This gives you an additional six months to complete your… read more…
- What to Do If You Miss the Tax Filing Deadline
The pandemic is complicating many people’s efforts to file their 2020 taxes by the deadline. But the good news is that the IRS has extended until May 17, 2021, the amount of time filers have to turn in their 2020… read more…
- Tax Filing: DIY or Hire a Professional?
Making sense of the federal tax code is no easy task and with so many new changes taking effect, figuring out what you owe may be even more difficult. Tackling the job yourself can save you money on tax preparation… read more…
- 6 Common IRS Audit Triggers
Tax season is underway and the IRS is hard at work processing the millions of returns being filed. While most returns will be accepted without a second glance, a select group of taxpayers will find themselves subject to closer scrutiny… read more…