Making a mistake on your tax return isn't as big a deal as you might think. The IRS allows you to file an amended tax return to correct any errors you may have made, including missed tax deductions. If you made a mistake or missed something on your lates
The IRS started processing returns on January 24. Most refunds are distributed in about 21 days, according to the IRS website. The American Rescue Plan act of 2021 expanded the child tax credit for that year. Advance child tax credit payments began in July and continued on a monthly basis ...
Last year, the IRS issued over 104.8 million refunds, averaging $3,183. From the archives (October 2024): Scammers called the IRS and stole $47 million in refunds, watchdog says When will I get my W-2 and other tax forms for my 2024 taxes? Man...
Faster refunds. The IRS handles e-filed returns faster than paper returns. Your e-filed return processes quicker and goes through an error checking system much sooner than a paper return. If you prepare your own return and send it by mail, you can expect to wait up to six weeks or more...
Are you married? Congrats! The IRS is rewarding you with tax deductions and credits. What does it mean to file taxes with your spouse? Find out here! Rachel Cruze Taxes What Is Taxable Income? 10 min read You don’t have to pay taxes on your entire paycheck. That’s where taxable and...
How tax refunds work A small tax refund can be a good thing The biggest tax question on most people’s minds, oncefiling seasongets underway, is whether they’ll get a refund or owe the IRS money. For the week ending Jan. 31, 2025, the average tax refund so far this year was $1...
Form 941 reports employment taxes, which can impact your ERC refunds. Form W-2: This form reports your income and taxes withheld from your paycheck, which can impact your ERC refunds. Form 9465: This form is used to request a payment plan with the IRS, which may be an option if you ...
Filing a Return: To get a refund, you must file an Arizona state tax return, detailing your income and taxes paid throughout the year. Direct Deposit: Arizona taxpayers can receive their refunds directly in their bank account. It's the fastest way to get your refund. Processing Time: The...
In 2025, the IRSexpanded its Direct File programinto 25 states, with an estimated 30 million taxpayers eligible to use the system. You won't get all the benefits you would from a paid platform or tax professional. But if you qualify and can find what you need, why not take advantage?
The amount you pay the IRS each year is determined by yourtax bracket. That, in turn, is based on your taxable income and filing status. But there are several ways you can lower your taxable income without taking a pay cut — fromputting more into retirementto deductingstudent loan interest...