Step 1—Determine whether you need an EIN Step 2—Apply for an EIN Click to expand Key Takeaways If your business employs workers, withholds taxes, or operates as a corporation or partnership, or meets other criteria, you will likely need an Employee Identification Number (EIN) to...
Hello, I'm Sara from TurboTax with some important information to help you understand your taxes. With so many tax laws out there, trying to figure out which ones apply to your return, can be a daunting process but you may be surprised to know that only a small number of them will gene...
Problem: The IRS—not eFile.com—has rejected your return because the primary SSN or Taxpayer Identification Number (TIN) for you or one of your dependents on the federal return is incorrect OR has already been used on a filed return with the IRS. If applicable, this might also apply to ...
📌 Note:Income tax extension of the time to file a tax return doesn’t apply to the deadline for paying taxes. It concerns only the documental part of the tax process. So, taxpayers must pay all necessary taxes due April 15, 2024, even with a tax extension. ...
Additionally, if you have three or more qualifying children, you may be eligible for other tax breaks like the Earned Income Tax Credit (EITC). How to claim the child tax credit Claiming your child tax credit You can claim the child tax credit by entering your children or dependents on ...
Tax credits can be either refundable or non-refundable. Arefundable tax creditgives you a refund if the tax credit is more than your tax bill. For example, if you apply a $3,400 refundable tax credit to a $3,000 tax bill, you will receive a $400 refund. ...
However, time limits apply to the carryover rules, and they differ depending on the specific credit. For example, while unused portions of the GBC may be carried forward up to 20 years, an individual can carry unused FTC amounts forward only up to 10 years.45 ...
Tuesday, April 15, 2025:Filing deadline for 2024 taxes (this is also the last day to apply for a free tax extension) Wednesday, October 15, 2025:Filing deadline for 2024 extension filers Latest in Personal Finance 1 day ago Success-Billionaires ...
Even if you pay no federal individual income tax, you may still want to file a tax return. You may be eligible for certain refundable tax credits, like the Earned Income Tax Credit (EITC), and the only way to get the refund is if you file a tax return. 2. Decide how you'll fil...
Whether you’re using one of the tax credits or not, you don’t have to wait until Jan. 31 (or Feb. 15 for EITC and ACTC) to file your taxes if you have all the tax documents you need. Many tax software companies will permit you to prepare and submit a tax return before the ...