E-filing with tax software like TaxAct can help you identify and claim these credits. File early: Filing your tax return early can expedite the refund process, and it gives you more time to plan for and pay any taxes owed. Contribute to retirement plans and HSAs: Contributions to ...
You’ll likely get a refund if your tax withholdings or estimated payments exceed your tax liability for a tax year. Going forward, if you’re not sure how much to withhold or pay in estimated taxes, the IRS provides these tools to help you: If you receive wages and/or sa...
A tax refund is an amount of money that the government reimburses taxpayers who pay more than they owe in taxes. In general, it's a good idea to calculate the taxes that you'll owe as precisely as possible so that you don't overpay throughout the year. That way you can keep more ...
How to estimate your tax refund with our tax return calculator Tell us about yourself We use general info such as your filling status, number of dependents, and taxable income to get an understanding of your tax situation. Let us know if you can claim any tax deductions ...
Keep records for three years from the date you filed your original return or two years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return. Keep records for seven years if you file a claim for a loss from worthless...
The case for no refund Hands down, it's a financially wiser choice to get your money in your paycheck throughout the year, according to the experts surveyed by CBS MoneyWatch. "As of February 24, the average tax refund was $3,079 — that is a $3,000 interest-free loan you are giv...
Here are five tried-and-true ways to reduce your tax liability at tax time. Pay no more than you owe, or even increase your tax refund.
Just remember, that refund is really an interest-free loan to Uncle Sam. It's money you could have during the year to pay bills and reduce credit card balances. "If you are scrimping to get by and piling up debt throughout the year, but getting a large tax refund every spring, adjust...
Applying a refund to debt may seem logical if you’re paying high interest on credit cards or loans. But it might not be one of the best ways to use your tax refund wisely if you have no savings at all. Sam Price, an independent insurance broker and owner of a life insurance agency...
2.Pay off debt. If you’ve already got a little bit of savings socked away,it’s time to get the debt off the books. Whether you’ve just got a littlecredit card debt or so much that it keeps you up at night, paying thosebalances down will reduce your interest payments and get yo...