D3sign | Moment | Getty Images The April 18 federal tax deadline is only six weeks away, and if you haven’t filed yet, you may qualify for free preparation. While many prefer a paid preparer, free filing options may be worth exploring for simple returns, such as filings with only a couple of W-2 forms, […]
5 ways to file your taxes for free this season Read More »
If your adjusted gross income was $73,000 or less in 2022, you can file your federal taxes for free with IRS Free File. Roughly 70% of taxpayers qualify for the service, but only 2% used it during the 2022 filing season, according to the National Taxpayer Advocate. While partners offer the most commonly used tax
Roughly 70% of taxpayers are eligible for IRS Free File, but only 2% used it in 2022 Read More »
There’s still time to reduce your tax bill or boost your refund for 2022, according to financial experts. You may consider tax-loss harvesting, Roth conversions or charitable donations to lower taxes. But you must complete these tax-saving moves by Dec. 31 to count for the 2022 tax year. With the S&P 500 Index down nearly
There’s still time to reduce your 2022 tax bill with these last-minute moves Read More »
After another year of tax law changes, there are significant updates for the 2022 filing season, with the possibility of a smaller refund or bigger tax bill. For some filers, certain tax credits have been reduced and it may be more difficult to claim the charitable deduction. You may get Form 1099-K for the first time, which
Tom Werner | DigitalVision | Getty Images Certain tax credits have been reduced One possible reason for a smaller tax refund is the child tax credit and the child and dependent care tax credit have been reduced for 2022, explained certified financial planner Cecil Staton, president and wealth advisor at Arch Financial Planning in Athens,
There’s still time to trim your tax bill or boost your refund before the end of the year. Depending on your 2022 income, you may consider deferring a holiday bonus, “bunching” medical expenses or a partial Roth conversion, experts say. Charles Taylor | Getty Images If you’ve had a strong year and expect lower earnings
3 lesser-known ways to trim your 2022 tax bill or boost your refund before year-end Read More »
The IRS on Tuesday warned taxpayers about the new $600 threshold for receiving Form 1099-K for third-party payments. The change applies to payments from third-party networks, such as Venmo or PayPal, for transactions such as part-time work, side jobs or selling goods. “It’s going to be a new form for a lot of people,” said Adam Markowitz, vice
IRS warns taxpayers about new $600 threshold for third-party payment reporting Read More »
