After some short deliberation in Congress, the Coronavirus Aid, Relief, and Economic Security Act (CARES) was signed into law on March 27. At TaxAct, we have spent countless hours reading the law, viewing informative webinars, digging through analysis,…
The IRS recently confirmed VA benefit recipients will automatically receive their stimulus payments. That means if you’re a veteran and or a veteran’s beneficiary who receives Compensation and Pension benefit payments from VA, you will receive a $1,200…
The US President signed into law, the largest emergency relief in the history of the country, a $2.2 trillion coronavirus stimulus package. The package is meant to provide relief to people from different sectors who have taken a financial hit over the …
Updated for tax season 2019*
Are you among the many Americans who file your taxes early so you can get your refund sooner? If you claim the Earned Income Tax Credit (EITC) or Child Tax Credit (ACTC) and expect to receive a refund, you’ll have to wait u…
For the majority of tax filers, tax season is over. April 15 marked the last day to submit your return – unless you filed an extension. So, how’d the season go? Below is an industry-wide recap plus a little tax filing myth-busting insight.
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If you count on getting a tax refund every year when you file your return, you may be worried about recent reports that tax refunds are lower than usual this year. With all the changes as a result of the Tax Cuts and Jobs Act of 2017, there is a lot mo…
The IRS recently announced tax penalty relief for taxpayers who didn’t pay enough of their 2018 federal income tax liability last year due to the changes in tax reform.
Penalty Relief Explained
Federal income tax wo…
IRS Starts Accepting Returns on Jan. 28
Despite the partial government shutdown, the IRS announced they will start processing tax returns on Jan. 28, 2019. Refunds will also be issued on their normal schedule. Taxpayers …
Tax reform of 2017 promised us shorter, simpler, tax forms. We even were told that we might be able to file on a form the size of a postcard – although we may have wondered how that would work out.
The Internal Reve…
In response to the recent devastation from Hurricane Michael, the IRS extended tax relief to victims of the disaster. The relief extends to all individuals who live in any major disaster declaration area designated by the Federal Emergency Agency. That…
