Tax Returns: Processing Begins On January 30th

Tax Return Processing

The Internal Revenue Service of the United States(IRS) made the announcement this past week that the season for filing taxes will not begin until January 30th. They are not going to start any processing of individual tax returns until that date.

The IRS had originally announced January 22nd as the date they would be opening tax filing. The reason for the bump back in the date is the changes in the tax law that congress passed on New Year’s Day. This all had to do with the “fiscal cliff” negotiations between house Republicans and the president.

At … Read the rest

Impressive Free Turbo Tax

Free TurboTax

The tax season is around the corner and soon individuals and businesses will have to file their tax returns with the government, specifically with the IRS. While filing taxes can be complicated and time consuming, this process is now made easy with TurboTax. Free TurboTax is a very easy way of getting taxes prepared and filed ready for submission. It is an ideal way for businesses and individuals to file their taxes.

The process of filing 2012 taxes should not be difficult at all. With the use of this product, filing tax returns will be very easy. … Read the rest

Saving Money With Free TurboTax

Paying to have your taxes done locally can cost you hundreds of dollars, free turbotax 2012 is a simple and easy solution to save you money. When you do not have hundreds of extra dollars to spend on getting your taxes done, you may want to consider alternative methods of saving yourself the money. If you currently owe money to the government, you are probably struggling to find the funds that you will need in order to make this payment. As such, paying more than you need to would not be a smart decision. The best way for you to … Read the rest

Don’t Waste Your Tax Refund: Make it Work for You

If you are one of the several million Americans who is anticipating a sizable tax return refund this year, then you know how very exciting the prospect can be. There are just so many things you can do with that lump sum of cash, right? However, the truth is that most people have great intentions for how they will make use of their tax refunds, only to put it into the checking account and watch it dwindle away on trivialities. The only way you can avoid this situation is to put some careful consideration into how to best reap … Read the rest

E-File Tax Returns May Be Slower This Year

Some electronically filed tax returns slow

If you opted to e-file this year, hoping for a quick return, it might take a little longer. The IRS is taking longer to process returns in 2012.

Take the case of Levi Prine, who filed his taxes on February 20th. His return was accepted readily, and it said his refund should be available on March 5th.

The next week, he checked the date again, and it said it was “delayed” until February 28. A delay like that would puzzle anybody, and Prine decided to talk to a real person.

After waiting on the … Read the rest

Simple Tips To Help You When Determining Your Filing Status

Eight Tips to Help You Determine Your Filing Status

Before you file your federal income tax returns, you must first determine you filing status. There are 5 filing statuses: Married Filing Jointly, Single, Married Filing Separately, Qualifying Widow or Widower with Dependent Child and Head of Household. Your filing status is normally used to determine your standard deductions, filing requirements, eligibility for certain deductions and credits. It also helps in computing correct taxes.

It is important to note that some people may have more than one status. The following are 8 tips to help you when filing your returns. … Read the rest