by Karla Dennis | Jul 17, 2013 | Blog
The IRS has a simple form, Form 4868, that provides you with an automatic six-month extension to file your taxes. The good news is that it’s easy to complete even with no accountant. You could use the IRS’ Free File system online, look up the appropriate action at any IRS office or order it toll-free. If you’re using tax-preparation software at home you are able to file by computer and receive an acknowledgement via email. The Free File system online will first ask you for your company, address and SSN. It then requires you to estimate your tax liability and send any balance due. If a person makes this payment and covers a minimum of 90% of one’s real liability they will not owe a late-filing or late-payment penalty. read...
by Karla Dennis | Jul 17, 2013 | Blog
To many seasoned tax payers, doing federal extension forms is not a problem; however for someone brand new to it, it can be a daunting task. Many people often have to file their taxes late, meaning they have to file a federal tax extension. Taxes usually are not something to mess around with; getting the help of a tax professional is your best choice. Given that most are online, their services for federal and state tax extensions are much quicker and cheaper, which benefits the client. Those that have to file a tax extension often have many questions; “Just how much does it cost?”, “How are you able to file?” and “Can anyone help me?” Fortunately, there is a solution and it’s getting help from a tax assistant. read...
by Karla Dennis | Jul 17, 2013 | Blog
About 75% of people that submitt their tax returns are expected to get a tax refund. This percentage isn’t any different from previous years; however, the average amount of money that the taxpayer gets in their return continues to grow steadily through the years. It has grown from an average of $1,698.00 in 1999 to of $3,003.00 in 2009. This implies that government refunds have become increasingly ascending (about 100%) in only a decade. There are several explanations for this improvement in refund averages, which are discussed here: read...
by Karla Dennis | Jul 17, 2013 | Blog
Filing federal taxes can be a somewhat unpleasant task, specifically for people who also need to file state tax returns. It is possible to file both your federal and state tax returns concurrently. In the rare case you are preparing to file your taxes using just a pen and paper then you must file your federal and state tax returns separately although they will be mailed to different locations. You are then going to be able to uncover the answer to whether or not you’ve got to file a tax return on one (or perhaps more) of the forms that your employer has mailed to you personally. In reference to the tax forms you received this year, you are going to most likely have a W-2 form. In the course of the tax year, you acquire income, and out of your employer’s payments, you pay taxes to government. The amounts you earned and paid in are shown on your W-2 form. read...
by Karla Dennis | Jul 17, 2013 | Blog
It could happen to anyone. Say you’ve gathered all of your tax return information. You’ve gathered all of your W-2s, 1099s, receipts and statements. You’ve crunched the numbers, double checked your calculations and mailed the return or used an eFile provider. Then you realize you’ve left something out, another form is suddenly accessible in the mail or you realize you chose the incorrect filing status. Don’t worry about it; you might be in a position to amend your tax return. read...
