Are you aware that a final Form 1040 should be filed for a deceased taxpayer? Usually, the surviving spouse or the estate representative files a final individual income tax return for the deceased taxpayer. If there is a surviving spouse, the return is filed with the same filing status as prior returns were filed. The […]
Have you been one of the workers that, due to Covid-19, your workplace has changed and you have been/are working remotely from your place of business? If so, here are a couple of things to consider when preparing your individual income tax return: In what state are you working remotely? Is it different than the […]
Tis the season once again for filing our income tax returns. This time of year can be the cause of much angst but the IRS has tips for lessening the stress of these next couple of months. To start, filing deadline is April 18, 2022 due to Emancipation Day in Washington, DC. So, you have […]
Tax season 2022 has begun. In the spirit of trying to make it as painless as possible, see the reprint of IR-2022-16, January 20, 2022 below. WASHINGTON — With filing season beginning January 24, the Internal Revenue Service reminded taxpayers about several key items to keep in mind when filing their federal income tax returns […]
As we near the end of the year (it will be here before we know it), you may be thinking about donations to charities. But, then you remember you don’t itemize deductions on your income taxes, so does it really matter when you make your charitable donation? Last year, there was a deduction of up […]
If you didn’t file your income taxes by May 17, 2021, and requested an extension, October 15, 2021 will be here before you know it. If you haven’t filed your 2020 taxes yet, time is running out for the filing of returns and payment of taxes owing – although getting an extension was not an […]
When you file your individual income tax return, do you usually owe taxes? If you do, then this is an indication that you are either not having the proper withholdings from your paycheck OR if you do not receive a W-2 for income, then you should be making estimated payments. What is the consequence if […]
If you are a senior or a retiree, do you know that you can file your income taxes for free using Free File online, including the ability to use direct deposit for refunds? This is available from various tax software companies, free of charge, and is accessible through the IRS website – irs.gov. Using […]
We received a little gift in that the deadline for our 2020 income tax returns was extended until May 17, 2021. While that extension may have allowed us to breathe a sigh of relief, one should not delay preparing and filing their returns. The extra month will come and go before we know it. If […]
The IRS has announced that the filing deadline for individuals – Form 1040 – has been extended until May 17, 2021. More information will be forthcoming, but if you were beginning to panic, you can now relax. “This continues to be a tough time for many people, and the IRS wants to continue to do […]
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