Tax credits can help taxpayers by providing financial relief, but what is a tax credit, how do they work, and how do you claim them? Many taxpayers may have become familiar with what tax credits are and how they function, through an energy-efficient home purchase, a first child, or through caring for an elderly loved …
It’s important to understand what the recovery rebate credit is, and how it may affect you. Here’s what you should know. Tax credits let you keep more money in your pocket come tax season – provided you’re eligible for them. The recovery rebate credit is available to all Americans who qualify for an economic impact …
If you have found a mistake on tax returns already filed, do not panic. There are ways to fix these tax return mistakes. Whenever tax season begins, people rush to get their taxes done – one, so they’re out of the way, and second, to claim any refunds they may be eligible for. But if …
Why is it important to find a reputable tax preparer? Preparing tax returns after a stressful year, especially after COVID, is the last thing you want to do The IRS routinely requests taxpayers to keep up to date on constantly evolving rules surrounding potential tax refunds and deductions. These include required forms and considerations, but …
There are many circumstances which may impact an individual’s ability to pay taxes. If you find yourself in this situation, you may be asking yourself “What if I can’t pay my taxes? What do I do? Do I have options?”. In this guide, we’ll explore what can be done if you can’t pay taxes. If …
*Last Updated January 15, 2021 The 2021 tax season is coming up and it’s important to know the changes to tax filing this year. Here are 9 steps to help you prepare for the 2021 tax season ahead. This past year has been a rollercoaster and a half, and with the New Year’s celebrations behind …