Filing Feed

I am so, so sorry my dear friends in the MidAtlantic and Northeastern United States. I know you're looking at possibly more snow with the fourth nor'easter in three weeks forecast to hit your areas in a few days. Here in Central Texas and other parts of the country, however, spring has officially arrived! My Texas neighbors and I are enjoying the seasonal wildflowers. Thank you, Lady Bird Johnson! (Photo by Kay Bell) It's also the traditional time for cleaning up and clearing out your house. Some of those old and/or unused items can be tossed. Others, however, are in... Read more →

Energy-efficient skylights installed in 2017 could provide homeowners some savings thanks to a recently renewed tax credit. Congress slipped some expired tax breaks into the Bipartisan Budget Act of 2018 enacted back in February. That was good news for taxpayers who can claim these tax breaks, but it set off a mad scramble within the Internal Revenue Service. Playing processing catch-up: Uncle Sam's tax agency had to dig out and update the appropriate forms and then re-set its processing systems to handle them. And all this had to be done while the 2018 tax-filing season was already underway. The IRS... Read more →

A view of Connemara, along Ireland's west coast, by Fred Bigio via Flickr CC. St. Patrick's Day is almost here, but it's not the lush Kelly green landscapes of the Emerald Isle we taxpayers are thinking about right now. We want to know ways to save some greenbacks on our taxes. Inspired by the man brave enough, at least in myth, to face down snakes and the March 17th day we honor him, here are 17 ways to round up some tax savings from the almost as scary U.S. tax code. 1. Non-cash charitable gifts: If you gave household goods... Read more →

Doing taxes is all about the numbers. The forms require our Social Security number and that of our spouse and dependent children. Similar identification digits also are key on tax forms from, for example, our employers and other entities that contribute to our taxable income. And, of course, we have to put in all those figures about our earnings and subtract the numbers in the form of expenses and deductions and credits to get to the most important amount of all, our final tax bill. Today's the 30th anniversary of the math-inspired unofficial holiday Pi Day is a good time... Read more →

Winter will just not let go this year. The Northeast has been pummeled by three northeasters in 11 days. The consecutive blizzards make everything difficult, including doing taxes. That's why the Internal Revenue Service is giving businesses affected by the storms some extra time. Business returns are due Thursday, March 15. If, however, those filers cannot get their tax year 2017 taxes done by then, the IRS says they can request an automatic extension by filing Form 7004, on or before Tuesday, March 20. Form 7004, available on, provides a six-month extension to complete the Forms 1065 and 1065-B... Read more →

Photo by GotCredit via Flickr CC It's hard for most of us to believe, but every year some folks who are due federal tax refunds do not file returns with the Internal Revenue Service. If they ignore those filings for more than three years, then Uncle Sam gets to keep the money permanently. Right now, though, the U.S. Treasury is just holding the unclaimed tax refunds — a total of $1.1 billion. That's how much cash the estimated 1 million taxpayers who didn't file a tax year 2014 Form 1040 back in 2015 could be kissing goodbye. They have until... Read more →

Are you still waiting to file your taxes because you want additional guidance from the Internal Revenue Service about the 2018 property taxes you prepaid last year? You are not alone. A group of Democratic lawmakers, some of who met with the acting head of the IRS last month on this topic, are continuing to press the agency for a final rule about this deduction that was reduced under the newly enacted Tax Cuts and Jobs Act. The latest demand for deduction clarification came earlier this week when some Democrats on the House Ways and Means Committee sent Acting IRS... Read more →

As soon as Congress began debating tax law changes in late 2017, there's been much controversy and confusion about just how much individual taxpayers would benefit. For months, it's basically been a guessing game. Now, however, we each can get a more precise idea of our tax liability under the Tax Cuts and Jobs Act (TCJA) that took effect on Jan. 1. The Internal Revenue Service has updated its online withholding calculator. The new calculator version, along with a revised Form W-4, should help taxpayers determine their proper 2018 payroll withholding amounts. In with the new, out with the old... Read more →

Image courtesy SimpsonsWorld via The Tuesday after Presidents Day generally is the busiest day of the year for calls to the Internal Revenue Service's toll-free help line. That also means that callers find themselves on hold. Such waiting, compounded by being forced to listen to tunes that would never ever make your Spotify playlist, is common throughout the filing season. That then leads to taxpayer frustration, which often prompts filers to try different avenues to get answers to their questions. Don't, however, just randomly call any IRS phone number seeking tax help, cautions the IRS. And definitely don't call... Read more →

If you've been wondering when you can take advantage on your 2017 tax return of a recently renewed tax extender, your wait could be over. The IRS announced today, Feb. 22, that it's now ready to process returns claiming three recently renewed tax breaks Surprise extenders: Congress threw the tax world for a loop earlier this month when it tacked some expired tax break onto its budget bill. The tax laws, popularly known as extenders because they are temporary and must be periodically renewed or extended, included a variety of tax breaks for businesses and individuals. Immediately following the Congressional... Read more →

Princess Bride impatience via Mid-February is finally here, the time when the Internal Revenue Service can finally issue refunds to taxpayers who had claimed the Additional Child Tax Credit (ACTC) and/or the Earned Income Tax Credit (EITC). Does that mean these refunds will show up today? No, that's a refund myth, even if you filed your Form 1040 on Jan. 29, the first day that the IRS began processing returns. Neither is your refund likely to be directly deposited into your bank account, loaded onto a debit card or as a paper check stuffed in your snail mail box... Read more →

Beavis (sans Butt-head) offers callers, uh, help? (Image via Looking for tax filing help from the Internal Revenue Service? Prepare beforehand. Tax identity theft concerns mean you'll have to prove to the IRS that you are you if you call the agency's tax hotline. And if you want face-to-face help at your local Taxpayer Assistance Center (TAC), you'll have to make an appointment. Telephone tax ID issues: I know. You're already unhappy with the IRS phone hotline. The IRS knows, too. Every filing season answering taxpayers' questions telephonically is on the agency's to-improve list. Last year, it even opened... Read more →

I hope she said yes! (Photo by Matt via Flickr) Valentine's Day has become one of the most popular days of the year to propose. If you're anticipating popping or answering the big question at an intimate romantic dinner tonight, taxes likely won't be on your mind. But perhaps they should be. Love and money: I'm a big fan of marriage. I've been in a mostly happy one with the hubby for a looong time. (Yes, I was a child bride!) But even back then, I was a tax geek. That's why our choice of wedding date — the year... Read more →

Since Congress decided to slip some expired tax breaks into the budget bill enacted earlier today and make them retroactive to the 2017 tax year, some folks will be amending the 1040 forms they've already filed. Ignore that smirking sound loud enough to make it onto the internet. It's the perpetually procrastinating hubby being all smug about how sometimes it does pay to put things off for a while. However, if, unlike the hubby, you don't defer tasks and were an early tax filer who now can claim, for example, the tuition and fees above-the-line tax deduction, you're probably already... Read more →

Dealing with taxes is tough enough, but when folks get the wrong information, things can go really bad really fast. That happens every filing season. Someone's uncle who works down the hall from a tax attorney says this. A neighbor's accountant brother says that. And, of course, there's the internet, probably the greatest single source of, to borrow a phrase, fake tax news. The 2018 filing season is in full swing; it officially opened on Jan. 29, with Free File taking submissions since Jan. 12. Most of the folks who've already filed did so because they're expecting refunds. With those... Read more →

I don't like roller coasters. Big Thunder Mountain Railroad, not Space Mountain, is my Disney World speed. Plus, as an investor, I get enough virtual and financial whiplash from following my portfolio. This week especially. From watching CNBC the last two days I've learned: The Dow is having its worst month in almost eight years. The market's fall of 1,179 points on Monday, Feb. 5, was the Dow's biggest drop ever. The 4.6 percent fall to close at just over 24,300 yesterday was, on a percentage basis, the biggest one-day drop for the blue-chip average since August 2011. We are... Read more →

Thirty days hath September, April, June, and November. All the rest have 31, Except for February, Which has 28 to put to use doing your taxes. OK, I took some liberties with the traditional poem. But it is true that despite its reduced days, February still provides plenty of time to make some key tax moves. Here, since it is a short month, are three. Collect your tax statements: Most of the tax statements that you need to fill out your Form 1040 should be arriving by early this month. They were supposed to be to you or at least... Read more →

Every tax season, the April filing deadline gets the most attention. But today, Jan. 31, also is a big tax day. It's when most statements with information you need to complete your Form 1040 (or 1040A or 1040EZ) are supposed to be delivered. Technically, the Internal Revenue Service gives these information statements the same leeway it offers filers on Tax Day. Earnings and other tax-related statements due today are considered on time as long as they're on the way, either electronically (if you agree to that delivery method) or via snail mail by Jan. 31. So if you don't have... Read more →

The 2018 tax filing season officially starts today. Many folks have already filed, by using Free File (which opened on Jan. 12), going with software on their own or turning over their tax material to paid preparers. The Internal Revenue Service will now process all those 1040s that were completed earlier this month and were on hold. If you, however, haven't gotten around to filling out your taxes yet, here's a checklist of what you'll need to accurately and easily complete your return. You might not need some of the stuff noted in this latest checklist. Feel free to skip... Read more →

Grandparents who are raising their grandchildren might benefit by claiming the Earned Income Tax Credit (EITC). The IRS has additional information for these taxpayers and other special groups and situations where the EITC could help. Friday, Jan. 26, was EITC Awareness Day, the 12th annual event during with the Internal Revenue Service makes a special effort to get the word out about this tax break that millions of filers ignore each year. Actually, the tax agency made special efforts, plural, yesterday. There were more than 250 total outreach events and activities around the country to promote the Earned Income Tax... Read more →