Tax Help

The Farewell Tour: TCJA’s Last Bow

by
Take Your Tax Refund

Picture this: It’s 2017, and the Tax Cuts and Jobs Act struts onto the economic stage like a rock star. Tax brackets shimmy, deductions groove, and corporation’s high-five their accountants. But as with any chart-topping hit, the encore eventually fades, and the curtain falls. Fast-forward to today, and we’re standing at the edge of the tax law’s final act.

Tax Cuts and Jobs Act
Tax Cuts and Jobs Act

The High Notes

Remember those tax cuts? The ones that made your paycheck feel like you got a bonus out of nowhere? Yep, those! The big tax change (fancy name, huh?) lowered what we owe the government, gave everyone a bigger standard deduction (think of it like a freebie!), and even bumped up the child tax credit. Suddenly, tax season wasn’t such a drag anymore, right?

The Controversial Bridge

But wait—there’s a twist. Critics raised their eyebrows when corporations got the VIP treatment. The TCJA lowered … Read the rest about Filing Taxes

The Government Can Take Your Tax Refund

by
Take Your Tax Refund
Take Your Tax Refund
stevepb / Pixabay

Taxpayers are filing their taxes early this year to avoid having an identity thief file their return before they do. But what is surprising some is that the government keeps their tax refund and uses it to pay down their student loan debt when they are in default. Called the Treasury Offset Program, the Department of Education is able to take Social Security payments and tax refunds and apply them to outstanding debt that you have not been paying.

Experts in the field say the Department of Education is required to notify you ahead of time if they intend to apply this offset program to your funds. Within this notification are rules and what you can do to avoid this happening to your tax refund at tax time.

You can request a hearing if your loan was not in default when the funds were taken and … Read the rest about Filing Taxes

How To Use The IRS To Get Free Tax Help

by

A lot of people require help when filing taxes. Deciding on the forms to fill, number of dependents and how to claim your tax refund are some of the prevalent concerns that taxpayers face. How do you get free tax help?

However, there exists numerous methods that can be helpful during the process. Below are some of the best techniques and practices that you can employ on top of using TurboTax 2014.

Get Free Tax Help

The IRS website (www.irs.gov) is a one stop shop for tax payers. “1040 Central” is especially beneficial to those who are experiencing difficulties with filing their taxes. It will give you tips, guidelines and a lot of useful information. Moreover, the page has links to other important webpages such as the latest news and FAQs.

Online tools such as the Interactive Tax Assistant and IRS Tax Map can also be useful in giving you solutions to some … Read the rest about Filing Taxes