A few days ago, the IRS released information about the breach of its security systems in an attempt to file fraudulent tax returns and claim tax refunds. Personal information was previously stolen from other sources and used to obtain e-file PINs, which is used when filing 2015 tax return as...

In a continued effort to adapt its products to diverse needs of business owners, QuickBooks has recently introduced the all new QuickBooks Online Self-Employed made for all of us small business owners. When developing the new line, Intuit specifically had in mind independent contractors, freelancers, and sole proprietors who often use...

With the tax season underway there is a rush of income tax returns in January most of which expect a refund. But where there is haste there are errors. The IRS allows amending return for the last 3 tax years and while there are instances when it makes a lot...

One popular tool to track your refund is Where’s My Refund introduced by the IRS. By providing personal and refund details, the system can tell you when you can expect to receive the money. It updates once every 24 hrs and provides accurate information especially for tax returns filed electronically....

While browsing through H&R Block website to further educate myself on different tax issues I read on tips to get ready and prepare for tax season. Here are two of them I found that could aid in feeling good about the whole process. Make sure you have everything necessary to...

The short answer is yes, and given recent trends in spending on education, it’s important not to forget about this deduction. Average amount of student loan debt has been climbing for years now. Wall Street Journal reported that over 70% of the recent grads left schools with debt, which averaged...

Below is a table with tax brackets to be used filing taxes for income earned in 2015. Tax brackets give better idea of estimating how much you’ll owe in taxes and optimize your withholding amount. (For more accurate calculations on withholding, check out the IRS’s Withholding Calculator.) Note that the...

Posted January 4th, 2016: For all taxpayers who want to file the taxes as soon as possible there is some good news. The federal portion of TurboTax 2016 (to file 2015 income tax) is ready, but we are still waiting for the state portion in order complete the returns. If...

Identity theft is one of the fastest growing crimes in America that intensifies during tax season. It is a major issue not only for private and government institutions, but also for everyday Americans. This year the IRS is taking a proactive stance to lower the number of fraudulent tax returns...

According to the IRS there were over 13 million American taxpayers who requested for more time to file 2014 income tax returns. October 15, the deadline to file taxes for income generated last year after receiving the extension, is less than two weeks away but the return can be submitted...