If you filed for a tax extension, remember that’s only an extension of time to file, not an extension of time to pay.
Answers to many post tax season questions.
Many people believe that if after years of timely filing they suddenly put in for an extension a red flag will go up with the IRS. Not so.
Keep in mind that mistakes made on a tax return can cause refund delays because it takes the IRS longer to process your tax return.
The information on the 1095-A will be used to reconcile advance payments of the premium tax credit made on your behalf to your insurance provider.
ObamaCare says if a person did not obtain health coverage for himself, his spouse and dependent children, tax penalties will be inflicted beginning in 2014.
Tax planning needs to occur during the year in question in order to optimize your tax situation.
One thing to consider before deciding on what to do with your refund is to analyze your withholdings and/or estimated tax payment situation.
Your last pay stub includes the same information that would likely appear on your W2.
It doesn’t matter how often you hear the cries for tax simplification, taxpayers and preparers alike every year are introduced to new regulations, new complexity.