If you have an Individual Taxpayer Identification Number (ITIN) rather than a Social Security number (SSN) you may need to take action or you'll be unable to file a tax return for 2017. What to know about ITINs ITINs are identification numbers issued by the U.S. government for individuals who do not qualify to receive an SSN. An ITIN [...]
This year’s April 18 tax deadline has come and gone, but not everyone has filed a 2016 tax return. Many taxpayers who should file simply do not. Common culprits are older, retired parents, and young adults who are new to tax filing requirements. Here are just a few reasons these taxpayers should consider filing a [...]
One of the biggest delays in filing your tax return is missing information. Make sure you don't miss some of these commonly overlooked items. Missing your e-file approval. Without your signature, your tax return cannot be filed. Proof of health insurance. You must provide a Form 1095 or other proof that you and your dependents [...]
With the new administration in Washington D.C., tax changes are likely in our future, but the details of those changes are unknown. What we do know about 2017 core tax rates and inflation-adjusted figures will come in handy when you file your 2017 tax return in early 2018. Standard deduction increases. The 2017 standard deduction [...]
The filing requirement rules for individual federal income tax returns are fairly straightforward. In general, you are required to file a return based on your filing status, your gross income, and your age. Here's an overview of the rules for 2016 tax returns. Single taxpayers (including those who are divorced or legally separated). If you're [...]
Tax filing season officially begins this month. Did you know due dates for certain returns have been changed? Why are the dates changing? One reason is to bring due dates into a more logical order. For example, in prior years, if you were a partner in a partnership, you may have had to extend your [...]
The old adage "close only counts in horseshoes" is an accurate reflection of the new IRS information reporting rules. Beginning with 2016 returns, due dates for Forms W-2 and certain Forms 1099 have been moved up, and the penalties for late or inaccurate forms have substantially increased. Here are the new filing deadlines for 2016 [...]
