More than 90% of individual tax returns are now filed electronically, and usually the process goes smoothly. However, when an e-filed tax return is rejected, e-filing can become more complicated. Common causes for rejected tax returns Simple filing errors. Most rejections are caused by things such as...
The 2017 tax filing season officially begins this week as the IRS starts accepting tax returns. There are many reasons to consider filing your tax return early. Here are some of the most common: Get your refund. There's no reason to let the government hold your...
Remember that you have until you file your tax return to make a contribution to a Traditional IRA or Roth IRA for the 2016 tax year. The annual maximum contribution amount is $5,500 or $6,500 if you are age 50 or over. However, if you or...
If you own your own business or have a side business in addition to your regular job, you may need to send out several IRS forms by Jan. 31 this year. The deadline is for forms you issue to employees and others who were paid as...
If you have not already done so, now is the time to review your tax situation and make an estimated quarterly tax payment using Form 1040-ES. The fourth quarter due date is now here. Normal due date: Monday, January 16, 2017 Remember you are required to withhold...
As important tax records start filling mailboxes, how can you make sure your tax preparation goes smoothly and efficiently this year? Here are some tips. 1. Keep it all in one place. It seems obvious, but how often have you found yourself going through piles of...
Get ready to answer additional questions this year if you claim some tax credits related to children and college costs. You may already be familiar with the additional questions and documentation required when you use the Earned Income Tax Credit (EIC). Starting this year, the IRS...
The IRS recently announced mileage rates to be used for travel in 2017. The Business mileage rate decreases by 0.5 cents while Medical and Moving mileage rates are lowered by 2 cents. Charitable mileage rates are unchanged. 2017 New Mileage Rates Standard Mileage Rates Mileage Rate/Mile Business Travel 53.5¢ Medical/Moving 17¢ Charitable Work 14¢ Here are...
November and December seem to be the months we are rained upon with charitable organization solicitations. Some of the groups, such as the American Red Cross, the Salvation Army, United Way, and the American Cancer Society are household names. Others are less known. Here are...
If you have children younger than 19 years old (or 24 if a full-time student) coordinate the filing of their taxes with yours. How they file is a matter of tax law. The problem Your child is away for college. You try to file your tax return...
