The IRS is getting ready to issue the Economic Impact Payments to millions of Americans and is reviewing its 2018 and 2019 tax records to determine who qualifies for the payment and in what amount. The ongoing problem has been the fact that many individuals who potentially qualify for the...

More details are released each week about the Economic Impact Payments, commonly called Coronavirus stimulus checks. We recently learned that people who typically do not have to file tax returns, are required to do that in order to qualify for the stimulus check. TurboTax estimates there are about 10 million...

The news about the government stimulus checks for individuals to get through the self-isolation and business hiatus was released over a week ago. The Treasury Secretary, Steven Mnuchin, estimated the checks would be issued sometime in mid-April. As of today, there is still relatively little details on the progress of...

A recent decision by the federal government to extend the amount of time to file income taxes has generally met the similar response from the state governments. In order to truly ease the process of filing taxes, limit the cost, and ensure social distancing, many states followed the federal deadlines...

Due to the pandemic sweeping across the globe and the country, the Treasury Secretary Steven Mnuchin announced that the IRS is postponing the tax deadline this year by 90 days, from April 15 to July 15. Please note that the situation has been pretty dynamic, so check for any updates...

In today’s address from the Oval Office, the president Trump spoke about the government’s plan in the upcoming days to take on the coronavirus, and the steps to alleviate the pressures the virus created for many. Besides the 30-day ban on travel from Europe (the US citizens would be exempt),...

According to the IRS, roughly 20% of Americans who qualify, do not claim Earned Income Tax Credit (EITC). Every year that translates to billions of dollars that are left unclaimed. The EITC is a refundable tax credit that reduces your tax liability. If the EITC you qualify for is greater...

Many of us have moved or will move between the states in the future. Even though there may countless reasons for that, one common outcome is the payment of taxes in more than just one state. Given than the U.S. tax system is thousands (!) of pages long, it is...

QuickBooks (QB) is one of the top choices for small businesses to do their accounting. It is also very integrated with TurboTax (available with a popular bundle discount) as it tracks many job-related costs that have a significant impact come tax reporting time. QB has evolved over time and has...

This year’s TurboTax Online product selection is relatively narrow, and that is a good thing. In prior years, TurboTax may have experimented by expending or shrinking the available options. It appears the experience has yielded the optimal portfolio that is easy to understand and not overwhelming. Even a quick glance...