January 13: IRS Free File opens. Taxpayers can begin filing returns through IRS Free File partners; tax returns will be transmitted to the IRS starting January 24. Tax software companies also are accepting tax filings in advance. January 17: Due date for tax year 2022 fourth quarter estimated tax payment. January 23: IRS begins tax season. Individual…
Category: Taxes
One of the first decisions taxpayers must make when completing a tax return is whether to take the standard deduction or itemize their deductions. There are several factors that can influence a taxpayer’s choice, including changes to their tax situation, any changes to the standard deduction amount and recent tax law changes. Generally, most taxpayers…
There are multiple opportunities at the end of the year to make sure you close out 2019 right. Since most year-end planning opportunities have firm deadlines—often December 31st—acting now can help ensure you don’t leave money on the table. It’s not all upside though: Failing to take certain actions can mean penalties in…
2017 tax returns are Due April 17th, 2018. Should you file before then? Remember that massive data breach in 2017? This could have a significant impact on your decision to file early. If you don’t remember, in 2017 there was a huge security breach at the credit reporting company Equifax that exposed sensitive information, such as Social…
The federal government has passed a new tax law that will take effect in 2018. One of the changes is that they are limiting deductions for state and local taxes to $10,000. What does this mean? This means that when you go to pay your taxes for 2018 (filed by April 15th, 2019), you will…