The IRS hasn’t announced the first official day to file your 2024 tax return. However, you can use its Free File process, which begins on January 10. The official start of the tax season starts January 27, 2025. However, many tax software programs will allow you to complete your return...
When will I get my tax refund? If you are owed a federal refund, the IRS typically will issue it within 21 days of receiving an electronically filed tax return; paper returns may take up to 6 months. You can check the status of your refund with the Where's My Refund online tool or...
When the Tax Chains Come undone.(COMMENTARY)
Not sure which tax credits or deductions you can claim on your tax return? Watch this video and find out if Form 1040A is right for you.
The other TaxAct packages are: "Deluxe" ($25); "Premier" ($35); and "Self Employed" ($65). At each of these levels, a state return, if requested, costs $45 per state filed. All four packages, including "Free," come complete with access to over-the-phone tax experts. And, yes...
Like most people who follow the federal budget closely, I tend to see federal spending and taxing implications in almost everything. Political unrest in Egypt get's me to think about the level of aid the U.S. provides for that country and whether it will
A portion of the gain on a subsequent sale of the home will be ineligible for the home-sale exclusion, even if the seller meets the two-year ownership-and-use tests. The portion of the profit subject to tax is based on the ratio of the time after 2008 when the house was a ...
To file separately, you and your spouse need to file two separate tax returns. Keep in mind that you'll have to follow some rules when going that route. First, you both will either have to itemize or claim the standard deduction — meaning one spouse can't take the standard deduction if...
Not all errors need amending by the form. The IRS will spot and correct a mathematical error, for example, when the initial tax return is sent in for processing. When this happens, any refund owed will be adjusted and any extratax liabilitydue will be billed to the taxpayer.1In the even...
Unrealized losses don't have immediate tax implications because they aren't recognized until the shares are sold. Many investors hold onto their investments during market downturns, hoping prices will rebound and allow them to make up for their losses. Those who believe a company's fundamentals ar...