Same-sex individuals who were legally married may file tax returns using “Married Filing Jointly” or “Married Filing Separately” status. In fact, starting in tax year 2013 same-sex spouses have to use one of those two statuses. Because this is a recent change to the tax law, the IRS provides certain...

We just got our hands on the all-new American Express Serve card and had a week to test it out (full disclosure, American Express is an Advertiser on Let’s Do Taxes). If you haven’t heard about the Serve card from American Express, it’s a reloadable prepaid credit card account that...

Now that the IRS is ready to start receiving electronically filed tax returns it’s time to decide what platform to use. Whether you’re familiar with TurboTax, H&R Block, or TaxAct the freefile programs allows you to explore many other platforms to take care of your taxes. FreeFile is the IRS’s...

TurboTax has just rolled out a new promotion towards an estimated 60 million taxpayers who file taxes on form 1040A or 1040EZ. It is called TurboTax Absolute Zero and it’s free to file state and federal. Additional features of this special tax deal include: Preparation of Affordable Care Act forms....

The IRS has announced that it will begin accepting paper and electronic tax returns starting on January 20, 2015. On December 19, 2014 Congress signed all pending legislations into law giving the IRS a green light to be open for business. The IRS also reminded the taxpayers that an electronic...

Below is a list of the most important tax dates to keep in mind this tax season through the end 2015. Individual taxpayers January 5, 2015: TurboTax starts accepting your tax return (if you are exiling, then they hold it and file for you on January 20). January 20, 2015:...

What forms does TurboTax support for 2015 (tax year 2014)? All depends on the complexity and extent of your income tax return. TurboTax Home & Business is the most complete version and will most likely populate all the required documents for you. Below is a complete list of all the...

Regardless if you need TurboTax Basic, Deluxe, Premier or Home & Business, downloading TurboTax is simple and only takes few steps. If you decide to get your copy of TurboTax this way, here are the steps to take to get it up and running: 1. Select a version of TurboTax...

If you expect a tax refund this year and consider using TurboTax or H&R Block tax software to file your taxes there may be an extra benefit available to you. By using any of those platforms you may use between 5-10% of your federal refund towards a purchase of a...

The IRS has released the latest tax rate tables applicable for 2015. Among them are estate and gift exclusions. Let’s starts with the gifts. There are no changes here and the exempt amount remains at $14,000. That means that one can give another person that amount without creating a taxable...