Tax Planning

The CARES Act Impact on Small Businesses

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,…

Organize your way to tax day: 5 steps for success

Whether you file early or wait until the deadline, there are simple things you can do today to help you cruise through tax season. Use these five tips to get organized, address little things early, and clear away filing obstacles. That way, when you si…

How Your Year-End Bonus Is Taxed

If you work as an employee, you’re probably used to having income tax withheld from your paycheck. When you get a bonus, however, there may be more confusion about how it’s taxed and what will be left.

Here are the most important things t…

How to Access Your IRS Account

Because the Internal Revenue Service (IRS) doesn’t automatically send out periodic account statements, it’s easy to wonder about the status of your account. True, you’ll get letters from the IRS if you have overdue amounts from a past year, or if the I…

8 Things to Know About an IRS Notice

If you receive a letter this year from the IRS, don’t be alarmed. After every tax season, the agency sends out a variety of notices to taxpayers. Not every letter means there’s an impending audit coming your way. 

Many of the notices…

[INFOGRAPHIC] Form W-4 Guide: How to Change Your Tax Outcome

If you’re traditionally employed, you’re likely familiar with Form W-4. It’s the tax form used to select how much money you want to be withheld from your paychecks to pay your tax liability. If you don’t keep up with your tax payments throughout the ye…

How to Check Your Refund Status

Let’s say you filed your tax return, and the IRS owes you a refund, which usually occurs because you had excess tax withheld from your pay. You’d like to know when you can expect to receive that lump sum. Is there a way to find out?

Change Your Tax Outcome: Adjust Your Withholdings in 2019

Most of the Tax Cuts and Jobs Act provisions went into effect at the beginning of 2018. Although employees felt some effects of the changes in February 2018, when the income tax withholding rates were changed, the real moment of truth comes as taxpayer…

8 Mistakes You Don’t Want to Make This Tax Season

Tax season is here. In fact, we’re already halfway to the deadline!
If you haven’t filed your tax return yet, don’t fret. TaxAct is ready to make your tax preparation process as simple as possible. In fact, by using tax software, you&…