One of the most common questions that the IRS receives during the tax season is whether or not social security benefits are taxable. The answer will greatly depend on your total adjusted gross income during the retirement. If social security is your only income, then in general your benefits are...

TurboTax is the most popular tax filing software and despite improving the user interface and ease of operation many users will still need some direction in filing process. This time around the company’s phone lines are very busy and to make things a bit more frustrating, it’s not very easy...

Few years ago the IRS scheduled all businesses to make tax payments electronically. Although the individual taxpayers still have a liberty to send payments by mail, they should consider switching to the electronic format. The Electronic Federal Tax Payment System, or EFTPS, lets taxpayers make payments by the Internet or...

With more chatter about getting your taxes done, one question comes to mind. What’s the fastest and most inexpensive way to get it done? Today I would like to discuss preparing tax returns on your own. If you always had your taxes prepared, doing it on your own may seem...

Nowadays, tax preparation products are quite sophisticated and offer many features making their comparison quite extensive and including numerous categories. In my opinion, the only categories that should matter are those tied directly to helping you file taxes on your own making simplicity and accuracy the most important features of...

As of the first week of February, nearly 17 million taxpayers had their tax refund in their checking accounts. The average amount of that refund so far has been of $3,288 and is expected to be lower as tax filing deadline approaches because those who expect to get money back...

Are you trying to determine what tax benefits do you qualify for this year? If yes, there is a way to quickly sort them out and apply to your situation. The government just updated a website for individuals looking for tax benefits and other forms of government assistance. It is...

Every year after the President’s Day the IRS is experiencing a deluge of phone calls and the two most common requests are inquiries about a refund and asking about a status of W2 forms. The IRS expects Tuesday, February 18, the day after the holiday, to be one of the...

If you’ve changed your name recently because of a marriage, divorce, or any other reason you should register the change with the Social Security Administration before you file taxes. The names that don’t match a social security number will slow down a processing of your tax return by the IRS...

According to the IRS, in 2013 more that 122 million taxpayers filed taxes electronically. Below are some reasons why you may consider filing your tax returns electronically. Increased Accuracy Any tax software company that you choose to process your return guarantees accuracy of all calculations and checks for any errors...