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Can I Claim the Child Tax Credit 2014?

If you meet the requirements to claim the Child Tax Credit 2014, expect to see a larger tax refund in 2015

If you have a child, you know first hand that being a parent changes your life.

Along with the new responsibility comes the expenses of having a child, such as food, clothing, classes, pictures, day care and so much more. Luckily, the IRS offers a few tax advantages to help with the never ending costs. One in particular is the Child Tax Credit.

Keep in mind however, just because you have a child, it does not automatically qualify you to claim the Child Tax Credit on your 2014 Taxes.

In order to claim the credit on your 2014 Tax Return, you’ll have to meet the 7 IRS Child Tax Credit requirements. 

1. Relationship

In order to claim the child tax credit, the child must be one of the following;

  • your child
  • your stepchild
  • a foster child placed with you by a court or authorized agency
  • an adopted child (even if the adoption is not final by the end of the tax year)
  • your brother
  • your sister
  • your stepbrother
  • your stepsister
  • your niece
  • your nephew Continue reading “Can I Claim the Child Tax Credit 2014?”
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Estimate Your 2013 Taxes With a 2013 Tax Calculator

Use a 2013 Tax Calculator To Estimate your 2013 Taxes

Do you still need to file your 2013 tax return? If so, you may be curious to know how much your 2013 tax refund or tax due total will be.

Luckily, you can use a  tax calculator 2013 to view your tax situation before filing your late 2013 tax return.

Free Tax Calculator 2013

In order for a tax calculator to estimate your 2013 taxes, you’ll need to enter at the very least your filing status, income, taxes withheld, and any possible deductions.

Rather than wasting time re-entering the same information later on when preparing your tax return, you can do it all at once. Here’s how;

  1. Create a RapidTax Account: When creating an account, be sure to select the 2013 Tax Year (don’t worry, it doesn’t cost anything to create an account)
  2. Enter your tax information: Enter your basic information, income, and deductions or credits your claiming,
  3. View your Tax Refund or Tax Due: Once your tax information is entered, the RapidTax application will instantly calculate your 2013 taxes. In the upper right hand corner, you’ll see your refund or tax due total appear.
  4. File Your 2013 Return or Log Out: If you’re not ready to file your 2013 taxes or just wanted to calculate your taxes, log out of your account. If instead, you want to continue on and file your 2013 tax return, you can continue on with the RapidTax application and submit (and pay) for your tax return. Continue reading “Estimate Your 2013 Taxes With a 2013 Tax Calculator”
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Help! I Still Need to File My 2013 Taxes!

Running late? Luckily, you can file a late 2013 tax return online with RapidTax!

You desperately need to file your 2013 taxes but somehow continue to put it off.

Sound familiar? You’re not alone. Filing taxes, especially late taxes, can seem overwhelming, time consuming and draining.

Rather than trying to file your late 2013 tax return yourself, you can pay an accountant outrageous fees to do it for you. Don’t waste your time or money. Instead, file your 2013 taxes online with RapidTax and have it completed within 15 minutes.

Will I pay late fees for filing my 2013 taxes late?

If the IRS owes you a refund from your 2013 tax return, you won’t have to pay any late fees.

However, you will be penalized if you have tax due. There are two IRS late fees you could end up facing:

  • Late-Filing Penalty: For every month past the deadline that your tax return has not been filed, a 5% penalty of your tax bill amount, up to a maximum of 25% (the minimum penalty is $135 or 100% of your unpaid tax; whichever smaller) is added to the amount you already owe.

  • Late-Payment Penalty: For every month your tax bill goes unpaid, there’s a fee totaling .5% (½ of 1%) of your tax bill.

That’s a lot of extra money you’re giving away to the IRS. Continue reading “Help! I Still Need to File My 2013 Taxes!”