The tax deadline is April 15, 2019!
For residents of Maine and Massachusetts, they have until April 17 to file their 2018 tax return. Here’s some important information you need to know for filing by the tax deadline.
1. You need to report ALL of your income.
If you don’t report all of your taxable income; all income that is subject to withholding; you will need to amend your return using Form 1040X when the IRS gets a hold of your information.
Not only that, but you may even end up owing money back to the IRS.
2. You can file without a W-2.
Continue reading “6 Facts For Filing Taxes By the Tax Deadline”
Fraud can happen to anyone.
If your social security number was used fraudulently in the past, the IRS assigns a six-digit PIN to you; the Identity Protection PIN (IP PIN).
In order to receive an IP PIN, you will need to meet the following:
- You received a CP01A notice which will have it located at the bottom of the first column
- The IRS sent you a letter inviting you to opt-in for the IP PIN
- You were a resident of Florida, Georgia or the District of Columbia, Michigan, California, Maryland, Nevada, Delaware, Illinois or Rhode Island last year
Note: Taxpayers who experience identity theft after they receive the CP01A notice will need to file the Identity Theft Affidavit.
The steps on getting an IP PIN
Continue reading “What is an Identity Protection PIN (IP PIN)?”
Children are expensive, but luckily they can give you a break — a tax break of course.
With all of the changes that the 2018 tax year brings us, the Child Tax Credit (CTC) is one of them. Whether you’re a parent, grandparent, or guardian, when tax time comes around you can claim your dependents to your advantage.
Here’s what you need to know for this tax season.
Who qualifies for the CTC?
Unfortunately, you can’t just receive the CTC for just having a dependent. You have to meet certain requirements for your dependent to be a “qualifying child.” These are the following conditions they will need to meet: Continue reading “The Child Tax Credit Changes for Your 2018 Taxes!”