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Where Is My Refund??
diyfasttax.com Money Matters Written by Tamera on February 22, 2016. Posted in Money, Taxes Once upon a time, a long time ago (okay, not that long ago), taxpayers everywhere eagerly awaited their tax refunds. They would check their mailboxes every day, hoping to find an envelope from the US Treasury. And with each…
IRS tax season to open 01-19-2016, last day will be 04-18-2016
irs.gov WASHINGTON ― Following a review of the tax extenders legislation signed into law last week, the Internal Revenue Service announced today that the nation’s tax season will begin as scheduled on Tuesday, Jan. 19, 2016.
[04/13/15] Check your status online! All you have to do is visit IRS.gov and click the “Where’s My Refund” link. Just use your filing status, the dollar amount of your refund on your return and of course your social security number and you’re good to go!
[04/06/15] Processing Times! Electronic filing usually is issued within three weeks after the acknowledged date; or if you completed a paper tax return it can take up to six to eight weeks from when it was received.
The owner of a small New York sandwich deli was being questioned by an IRS agent about his tax return. He had reported a net profit of $80,000 for the year.
"Why don't you people leave me alone?" the deli owner said. "I work like a dog, everyone in my family helps out, the place is only closed three days a year. And you want to know how I made $80,000?"
"It's not your income that bothers us," the agent said. "It's these travel deductions. You listed six trips to Florida for you and your wife."
"Oh, that," the owner said smiling. "It is a legitimate business expense because we also deliver."
[03/30/15] You have options! There are three options when it comes to receiving your federal income tax refund: By Paper Check, by U.S. Savings Bonds or by direct deposit.
[03/23/15] You can invest in tax planning, meaning hiring a tax-planning professional who is able to use the numbers in their computer software to evaluate what changes you can make to lower the general tax bill. Therefore you will yield a greater return.
[03/19/15] How do you know you've got a good tax accountant? He's had a loophole named after him.
[03/16/15] By starting a home business you can deduct quite a lot of items such as equipment you use for your business or facility utilities. This is just another way to ensure that you yield a greater refund.
[03/09/15] Using current tax laws can increase your return. If you are up to date with these laws and their changes from previous laws you may be able to yield a greater return.
[03/02/15] By increasing your contributions to your retirement fund or (IRA) the less your income is subject to taxes; and by lowering your taxable income you owe fewer taxes and yield a greater refund.
[02/23/15] Sometimes larger refunds can be a result from deducting familial obligations. You can deduct the costs associated with caring for your dependent children or parents.
[02/16/15] Use your professional expenses. Certain jobs may require you as an employee to use or own equipment that you must purchase out of your own pocket. If the company doesn't reimburse you or those expenses, you may be able to deduct these to help maximize your refund.
[02/09/15] If you deduct all your donations meaning property, cash, mileage and tithes this will yield an increased return for you! If you are looking for substantial tax savings use these deductions for charitable donations, it will ensure a profitable and large difference in your refund.
5 things that can kill a tax refund:
1. You (or your spouse) defaulted on student loans
2. You owe child support
3. You owe an IRS debt
4. Your income went up (or your tax situation changed)
5. Someone stole your identity
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