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Tax Time Guide: Contribute to an IRA by April 15 to claim it on 2018 tax returns

WASHINGTON —The Internal Revenue Service reminded taxpayers today that it’s not too late to contribute to an Individual Retirement Arrangement (IRA) and still claim it on a 2018 tax return. Anyone with a traditional IRA may be eligible for...

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  • March 19, 2019

Things to Remember when Considering Early Withdrawals from Retirement Plans

Many taxpayers may need to take out money early from their Individual Retirement Account or retirement plan. Doing so, however, can trigger an additional tax on early withdrawals. They would owe this tax on top of other income tax...

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  • March 15, 2018

IRS: Refunds worth $1.1 billion waiting to be claimed by those who have not filed 2014 federal income tax returns

WASHINGTON ―Unclaimed federal income tax refunds totaling about $1.1 billion may be waiting for an estimated 1 million taxpayers who did not file a 2014 federal income tax return, according to the Internal Revenue Service. To collect the money,...

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  • March 11, 2018

Mar 02, 2018 – IRS Funding Information

The IRS releases refunds each weekday throughout the year. We provide the percentage of refunds that have not yet been funded by the IRS. We update these funding statistics at approximately 2:00pm eastern each weekday throughout the year. As...

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  • March 5, 2018

IRS Can Help Taxpayers Get Form W-2

Most taxpayers got their Form W-2, Wage and Tax Statement, by the end of January. Taxpayers need their W-2s to file an accurate tax returns, as the form shows an employee’s income and taxes withheld for the year. Taxpayers...

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  • February 28, 2018

These Tax Credits Can Mean a Refund for Individual Taxpayers

Taxpayers who are not required to file a tax return may want to do so. They might be eligible for a tax refund and don’t even know it. Some taxpayers might qualify for a tax credit that can result...

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  • January 31, 2018

Ten Tips for Choosing a Tax Preparer

It’s the time of the year when many taxpayers choose a tax preparer to help file a tax return. These taxpayers should choose their tax return preparer wisely.  This is because taxpayers are responsible for all the information on...

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  • January 14, 2018

What Taxpayers Can Do Now Before Filing Their Return in 2018

While taxpayers will not start filing their tax returns for a few months, there are a few things they can do to make the process easier next year. Here are two things that could affect the 2017 returns they...

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  • October 12, 2017

Ten Tax-Time IRS Tips to Consider

The tax filing deadline is Tuesday, April 18 this year. This is because April 15 falls on a weekend and the following Monday is a holiday in the District of Columbia. Even with an extra three days, the IRS...

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  • March 29, 2017

Time Running Out to Claim $1 Billion in Tax Refunds from 2013

Taxpayers who did not file a tax return for 2013 may be one of the nearly 1 million who may be due a refund from that year. Taxpayers must claim their part of almost $1 billion by this year’s...

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  • March 3, 2017

Five Tips on Whether to File a 2016 Tax Return

Most people file a tax return because they have to. Even if a taxpayer doesn’t have to file, there are times they should. They may be eligible for a tax refund and not know it. Here are five tips...

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  • January 25, 2017

Who Will Prepare Your Tax Return?

WASHINGTON – As the start of tax filing season approaches, the Internal Revenue Service is reminding taxpayers to start thinking about who will prepare their 2016 federal tax return. The IRS will begin processing tax returns on Monday, January...

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  • January 13, 2017

IRS Offers Tips on Validating Your Identity on Your Tax Return

You should always keep a copy of your tax return. It is even more important for 2017, as the Internal Revenue Service moves to strengthen its e-signature validation process. You must use your 2015 adjusted gross income or your...

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  • December 19, 2016

Beware of Fake IRS Tax Bill Notices

The Internal Revenue Service and its Security Summit partners are warning taxpayers and tax professionals of fake IRS tax bills related to the Affordable Care Act. The IRS has received numerous reports of scammers sending a fraudulent version of...

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  • November 18, 2016

Top 10 Tips for Deducting Losses from a Disaster

To mark National Hurricane Preparedness Week, the IRS wants you to know it stands ready to help. If you suffer damage to your home or personal property, you may be able to deduct the losses you incur on your...

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  • May 27, 2015

What to Know about Late Filing and Late Paying Penalties

April 15 was the tax day deadline for most people. If you are due a refund there is no penalty if you file a late tax return. But if you owe tax, and you failed to file and pay...

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  • April 17, 2015

Apr 06, 2015 – IRS Funding Information

The IRS releases refunds each weekday throughout the year. We provide the percentage of refunds that have not yet been funded by the IRS. We update these funding statistics at approximately 2:00pm eastern each weekday throughout the year. As...

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  • April 6, 2015

IRS Can Help if W-2s Are Missing

In most cases you get your W-2 forms by the end of January. Form W-2, Wage and Tax Statement, shows your income and the taxes withheld from your pay for the year. You need your W-2 form to file...

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  • February 9, 2015

Feb 05, 2015 – IRS Funding Information

Feb 05, 2015 – IRS Funding Information The IRS releases refunds each weekday throughout the year. We provide the percentage of refunds that have not yet been funded by the IRS. We update these funding statistics at approximately 2:00pm...

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  • February 6, 2015

Six Tips on Who Should File a 2014 Tax Return

Most people file their tax return because they have to, but even if you don’t, there are times when you should. You may be eligible for a tax refund and not know it. This year, there are a few...

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  • January 22, 2015