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Topic: IRS E-File

IRS reports Tennessee top in the Nation with the most Electronic Filed Tax Returns

 

Internal Revenue Service - IRSAtlanta, GA – As the April 18th income-tax filing deadline approaches, “Tennessee has once again, set a record with the most electronic filed tax returns ever at this period and is tops in the nation,” said IRS Spokesman Mark Green. “We had estimated that Tennessee, would file 2.6 million e-file tax returns for the whole calendar year.  Thus far, Tennessee has filed over 2.2 million e-file tax returns,” said Green.

Most taxpayers have already filed their 2015 returns. For those who have yet to file, the IRS says don’t panic.

Tax Returns «Read the rest of this article»

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IRS says 2016 Tax Season opens January 19th for Nation’s Taxpayers

 

IRS - Internal Revenue ServiceAtlanta, GA – Following a review of the tax extenders legislation signed into law last week, the Internal Revenue Service announced today that the nation’s tax season will begin as scheduled on Tuesday, January 19th, 2016.

The IRS will begin accepting individual electronic returns that day. The IRS expects to receive more than 150 million individual returns in 2016, with more than four out of five being prepared using tax return preparation software and e-filed. The IRS will begin processing paper tax returns at the same time. There is no advantage to people filing tax returns on paper in early January instead of waiting for e-file to begin.

Income Taxes

Income Taxes

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IRS reports Tax-filing Extension Expires October 15th for Millions of Taxpayers; Check Eligibility for Overlooked Tax Benefits

 

Internal Revenue Service - IRSAtlanta, GA – The Internal Revenue Service today urged taxpayers whose tax-filing extension runs out on October 15th to double check their returns for often-overlooked tax benefits and then file their returns electronically using IRS e-file or the Free File system.

More than a quarter of the nearly 13 million taxpayers who requested an automatic six-month extension this year have yet to file. «Read the rest of this article»

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Standard or Itemized: IRS says Choose the Deduction Method That’s Best for You

 

Internal Revenue Service - IRSWashington, D.C. – Most people claim the standard deduction when they file their federal tax return. But did you know that you may lower your taxes if you itemize your deductions? Find out if you can save by doing your taxes using both methods.

Usually, the bigger the deduction, the lower the tax you have to pay. You should file your tax return using the method that allows you to pay the least amount of tax.

https://www.youtube.com/watch?v=yyD2HoxKf-4 «Read the rest of this article»

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Internal Revenue Service says Don’t Miss Out on IRS Free File

 

IRS - Internal Revenue ServiceWashington, D.C. – Internal Revenue Service (IRS) Free File is a fast, safe and free way to file your federal tax return.

Free File does the hard work for you with either brand-name tax software or online fillable forms.

Here are five tips that you should know about Free File.

https://www.youtube.com/watch?v=yyD2HoxKf-4 «Read the rest of this article»

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IRS says more Tennesseans E-filing their own Tax Returns

 

Internal Revenue Service - IRSNashville, TN – With five weeks left before the April 15th tax filing deadline, the Internal Revenue Service reports that Tennesseans are e-filing tax returns in record numbers.

Through March 7th, the IRS has received nearly 1,469,000 electronic returns from Tennesseans, an increase of 3.8 percent over last year at this time. But the largest increase is in the number of taxpayers filing from their own computers. Nearly 712,000 Tennessee filers have e-filed self-prepared returns, an increase of 9.8 percent over last year at this time. «Read the rest of this article»

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Itemizing vs. Standard Deduction; IRS gives Five Tips to Help You Choose

 

Internal Revenue Service - IRSWashington, D.C. – When you file your tax return, you usually have a choice whether to itemize deductions or take the standard deduction. Before you choose, it’s a good idea to figure your deduction using both methods.

Then choose the one that allows you to pay the lower amount of tax.

The IRS offers these five tips to help you choose. «Read the rest of this article»

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IRS 2014 Tax Filing Season to start January 31st

 

Internal Revenue Service - IRSWashington, D.C. – The Internal Revenue Service will open the 2014 tax filing season January 31st and encouraged taxpayers to use e-file or Free File as the fastest way to receive refunds.

The new opening date for individuals to file their 2013 tax returns will allow the IRS adequate time to program and test its tax processing systems. The annual process for updating IRS systems saw significant delays in October following the 16-day federal government closure. «Read the rest of this article»

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IRS gives Ten Tax Tips for Individuals Selling Their Home

 

Internal Revenue Service - IRSWashington, D.C. – If you’re selling your main home this summer or sometime this year, the IRS has some helpful tips for you. Even if you make a profit from the sale of your home, you may not have to report it as income.

Here are 10 tips from the IRS to keep in mind when selling your home.

http://www.youtube.com/watch?v=L1JpcsSz2Ww

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IRS offers Tips for Taxpayers Who Missed the Tax Deadline

 

Internal Revenue Service - IRSWashington, D.C. – The IRS has some advice for taxpayers who missed the tax filing deadline.

File as soon as possible. If you owe federal income tax, you should file and pay as soon as you can to minimize any penalty and interest charges. There is no penalty for filing a late return if you are due a refund.

Penalties and interest may be due. If you missed the April 15th deadline, you may have to pay penalties and interest. The IRS may charge penalties for late filing and for late payment. The law generally does not allow a waiver of interest charges. However, the IRS will consider a reduction of these penalties if you can show a reasonable cause for being late. «Read the rest of this article»

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