3 Steps to Make Taxes Easier Next Year
Taxes come around every year-surely there's a way to make this a bit easier to deal with!
ReadThe Protecting Americans from Tax Hikes Act, passed in 2015, referred to as the PATH Act, requires the IRS to take extra time to examine tax returns that claim the Earned Income Tax Credit or Additional Child Tax Credit. These credits are refundable, meaning that any amount left after covering the taxpayer’s tax liability will be refunded. The refundable quality of these credits makes them prime targets for tax fraud, which is why the IRS is now required by law to examine these credits closely before issuing refunds. If you file early and claim either credit, your refund won’t be issued until mid-February, and you won’t receive it until late February. This processing schedule is in accordance with the PATH Act and applies even if you file online.
Under the provisions of the PATH Act, the IRS cannot issue Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) refunds before mid-February. Where's My Refund? should show an updated status by February 22 for most early EITC/ACTC filers. The IRS expects most EITC/ACTC related refunds to be available in taxpayers’ bank accounts or on debit cards by March 3 if they chose direct deposit and there are no other issues with their tax return.
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3 Steps to Make Taxes Easier Next Year
Taxes come around every year-surely there's a way to make this a bit easier to deal with!
ReadWant a Bigger Refund? Check Out Above-the-Line Deductions
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ReadSelfie Security-Why You'll Need ID.me for IRS Online Account
Let's talk about the IRS's new identity protection process and what it means for tax filing.
ReadThe Tax Filing Golden Ticket - Know Your 2015 AGI Amount
The IRS no longer uses e-file PINs to verify your identity, and is only using prior-year adjusted gross income (AGI) or your self-selected PIN.
ReadFiling Your Taxes Before the IRS Opens and Why It's a Good Idea
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ReadWhat are the Differences Between Form 1095-A, 1095-B, and 1095...
Forms 1095-A, 1095-B and 1095-C look very similar because each relates to your healthcare coverage. But they're actually quite different.
ReadHow Do I Report Healthcare Info on My Taxes?
Here's what to do when healthcare and medical expenses come up during the tax-filing process.
Read2022 Tax Must-Haves-Online Account, IP PIN, and IRS Letters
While you aren't required to have them, these three items are guaranteed to make filing both easier and safer.
ReadThe Future of Your Taxes
Want a better tax system? Here's your chance. The IRS is kicking off a contest to design a better online experience for taxpayers.
ReadI Don't Have a Prior-Year AGI-How Do I e-File?
Here's how to deal with prior-year AGI prompts on your 2021 return.
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