Most retirees must take required minimum distributions by Dec. 31
Most retirees must take required minimum distributions by Dec. 31 WASHINGTON — The Internal Revenue Service today reminded retirement plan participants and individual retirement account owners that payments, called required minimum distributions, must usually be taken by Dec. 31. Required minimum distributions (RMDs) generally are minimum amounts that retirement plan account owners must withdraw annually […]
How to Run a Tax-Efficient Business
Taxes can be tricky, and businesses have the ability to take tax complexity and kick it up several notches. Especially if you are unfamiliar with how business taxes work, you might find yourself suffering from some sticker shock come tax time. Fortunately, there are some things you can do as a business owner to reduce […]
Alaska Earthquake Relief- Automatic Extensions
ALASKA — Victims of the earthquake that took place on Nov. 30, 2018 in Alaska may qualify for tax relief from the Internal Revenue Service. The President has declared that a major disaster occurred in the State of Alaska. Following the recent disaster declaration for individual assistance issued by the Federal Emergency Management Agency, the […]
Taxpayers can get faster tax refunds with Direct Deposit
With the tax deadline nearly here, the Internal Revenue Service encourages all taxpayers to join the 80 percent of filers who choose Direct Deposit to get their tax refund faster. Direct Deposit into a bank or other account is a secure option. It avoids the possibility of lost, stolen or undeliverable refund checks. The IRS […]
Taxpayers who can’t pay their taxes should still file on time
With the April tax filing due date just a few days away, taxpayers should remember to both file and pay any taxes they owe by the deadine. Taxpayers who do not file and pay timely will see their tax debt grow. In fact, penalties and interest can cause a taxpayer’s debt to grow by more […]
With the filing deadline close, here’s why taxpayers should e-File
A few taxpayers still use the old-school method of filing their tax returns: on paper. For these people, now is the time to consider filing electronically. With the April tax deadline right around the corner, it’s the perfect time to use IRS e-File. Here are the top six reasons why taxpayers should file electronically in […]
Tax Time Guide wrap-up: Tips on payment options, penalty waivers, refunds and more
The Internal Revenue Service today urged taxpayers to file an accurate tax return on time, even if they owe but can’t pay in full. The IRS also recommends that taxpayers do a Paycheck Checkup early in 2019 to avoid having too much or too little tax withheld. Most taxpayers are being affected by major tax […]
Online tool lets taxpayers check the status of their refund
Taxpayers filing their tax returns to meet the upcoming tax filing deadline should know that the easiest way to check on their tax refund is to use Where’s My Refund?. This tool is available on IRS.gov and through the IRS2Go app. The fastest way to get that tax refund is to use IRS e-File and […]
Tax Time Guide: Tax help is just a click away on IRS.gov
The Internal Revenue Service reported that there were more than 585 million visits to IRS.gov by taxpayers finding answers to tax questions, e-filing tax returns and checking on their tax refunds in 2018. This year, visits are 11 percent higher than the same time last year. This news release is part of a series called […]