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January 20, 2015
A tax credit is a dollar-for-dollar reduction in the amount of tax that you owe. For example, a $500 tax credit will save you $500 in taxes.
On the other hand, a tax deduction merely reduces your...
January 16, 2015
Probably the most common question asked during tax season is ‘When will I get my tax refund?’ Now that you’ve filed your taxes, know that more than 9 out of 10 refunds are issued in less than 21 days.
January 15, 2015
IRS Newswire just released this information about the upcoming tax season:
“The Internal Revenue Service announced the on-time opening of the nation’s 2015 filing season and highlighted a growing array of online services, including...
January 14, 2015
You have two options for filing your Federal income tax return (IRS Form 1040). You can file a paper return or you can file electronically (a.k.a. “e-file”).
January 13, 2015
For the majority of Americans, the most commonly used document for filing a tax return is IRS Tax Form 1040. This form is due by April 15 each year.
While there are many...