Filing federal and state taxes is a responsibility and requirement for wage earners all over the country. While paying taxes has been a requirement for decades, the digital age has continued to have a big impact on this process. Today, many people choose to file their taxes electronically as opposed to sending them in by mail. For those that are looking to file their taxes, a common question is what are the advantages of e-filing of returns? There are various advantages to be aware of and consider. Convenience One of the main advantages of filing your taxes electronically is that it... View Article
Identifying theft can consist of stolen information, credit card numbers, and bank accounts. However, tax fraud is another element of identity theft that can have a major impact on your finances. The IRS issues an Identity Protection PIN (IP PIN) to help prevent tax-related identity theft. Here’s what you need to know about this important tool. What Is an IP PIN? An IP PIN is a six-digit number assigned to eligible taxpayers that helps the IRS verify their identity when they file their taxes. This number is used in addition to your Social Security number (SSN) to help confirm that... View Article
In today’s world, people must be more careful to protect themselves from identity theft and other nuisances. Getting an IRS PIN is one way to do that. Here’s some information about IRS PINs, what they are, how to get one, and whether you need one as a taxpayer in these modern times. What Is an IRS PIN? An IRS identity PIN is a number that gives taxpayers an extra level of protection regarding their tax accounts. With the IRS PIN, you can verify yourself when filing your tax returns, and having that unique number ensures that no other person can... View Article
The child tax credit is something many taxpayers have been interested in these past few years. The following are some facts about the credit for those interested in knowing if they qualify: What Is the Child Tax Credit? The child tax credit is a special benefit for people who care for children. A taxpayer may be eligible to receive the credit if he or she is caring for a child under the age of 17 at the end of the tax year. Currently, the government is offering advance child tax credit payments to all individuals who qualify. Most families do... View Article
Getting ready to file your taxes this year? If you’re filing personal taxes or business taxes, you need to understand some of the differences so that you comply with all necessary requirements. Read on to discover what separates these two unique filings, as well as tips on how to make the filing process easier. Tax forms One of the primary differences between filing business taxes and personal taxes is the form you’ll need to fill out. If you’re filing personal taxes, you’ll likely complete a Form 1040. For business owners, the situation is much more complex. If you run a... View Article
