Harless Tax Blog
Source from cnbc.com | Tax Tip 2019-39 | With the April tax filing due date just a few days away, taxpayers should remember to both file and pay any taxes they owe by the deadine. Taxpayers who do not file and pay timely will see their tax debt grow. In fact, penalties and interest can cause a taxpayer’s debt to grow by more than thirty percent in just a few months. See More
Source from irs.gov | IR-2019-62 |
WASHINGTON –The Internal Revenue Service today reminded self-employed individuals, retirees, investors and others who pay their taxes quarterly that the first estimated tax payment for tax year 2019 is due Monday, April 15, 2019, for most taxpayers. A 2018 tax return and 2019 Form 1040-ES, Estimated Tax for Individuals, can help these taxpayers estimate their first quarterly tax payment.
The Tax Cuts and Jobs Act changed the way tax is calculated for most taxpayers, including those with substantial income not subject to withholding. The law changed tax rates and brackets, revised business expense deductions, increased the standard deduction, removed personal exemptions, increased the child tax credit and limited or discontinued other deductions. As a result, many taxpayers may need to raise or lower the amount of tax they pay each quarter through estimated tax payments. The 2019 Form 1040-ES and instructions include inflation adjustments for the standard deduction, income tax rate schedules for tax year 2019 and a worksheet to help taxpayers figure estimated tax payments correctly. See More
Source from irs.gov | IRS Tax Tip 2019-33 |
Taxpayers filing their tax returns to meet the upcoming tax filing deadline should know that the easiest way to check on their tax refund is to use "Where’s My Refund?" This tool is available on IRS.gov and through the IRS2Go app. The fastest way to get that tax refund is to use IRS e-file and direct deposit.
Taxpayers can use Where’s My Refund? to start checking on the status of their tax return within 24 hours after the IRS receives an e-filed return. For a paper return, it’s four weeks after the taxpayer mailed it.
The tool has a tracker that displays progress through three phases: Publication 1 is available in English and Spanish. All IRS facilities publicly display the rights for taxpayers. See More
Source from irs.gov | IRS Tax Tip 2019-31 |
This is the first tip in a two-part summary of the rights granted to all taxpayers.
Every taxpayer has rights when dealing with the IRS. The Taxpayer Bill of Rights takes these rights from the tax code and groups them into 10 categories. To help taxpayers interacting with the IRS understand their rights, the agency outlines them in Publication 1, Your Rights as a Taxpayer.
Here are the first five rights along with more information about each one: See More
Source from irs.gov | Notice 2019-25 notice modifies and supersedes the guidance in Notice 2019-11, which announced the waiver of the addition to tax for underpayment of estimated income tax for certain individuals for tax year 2018. This notice increases the availability of the waiver of the addition to tax by expanding the waiver to individuals whose total withholding and estimated tax payments equal or exceed eighty percent of the tax shown on the return for the 2018 taxable year. The notice updates procedures for requesting the waiver of the addition to tax. Additionally, the notice provides procedures for taxpayers who paid additions to tax for underpayment of estimated tax but who qualify for relief under this notice to request a refund of the addition to tax. See More
Source from irs.gov | Before visiting an IRS Taxpayer Assistance Center for in-person help with their tax issues, a taxpayer needs to call 844-545-5640 to schedule an appointment. All TACs provide service by appointment. The Contact Your Local Office tool on IRS.gov helps taxpayers find the closest IRS TAC, the days and hours of operation and a list of services provided.
Once they make an appointment , taxpayers will receive an automated email to the address they provide. The email will confirm the day and time of their appointment. Taxpayers should consider the self-service options on IRS.gov before calling for an appointment. Taxpayers can resolve many questions online without taxpayers having to travel to a Tax Assistance Center.
Taxpayers checking on a tax refund status can: See More
Source from irs.gov | WASHINGTON – The Internal Revenue Service today renewed its effort to encourage taxpayers to review their tax withholding using the IRS Withholding Calculator and make any needed adjustments early in 2019.
Doing a Paycheck Checkup can help taxpayers avoid having too little or too much tax withheld from their paychecks. The IRS reminds taxpayers that they can generally control the size of their refund by adjusting their tax withholding.
This news release is part of a series called the Tax Time Guide, a resource to help taxpayers file an accurate tax return. Additional help is available in Publication 17, Your Federal Income Tax, and the tax reform information page. See More
Source from redfin.com | If you look at the data provided by the Centers for
Disease Control and Prevention for 2016, you can easily see that nearly half of all married couples end up getting a divorce. According to this information,
6.9 people per 1000 total population got married, while 3.2 people per 1000 total population got divorced. If you are getting a divorce and have a
shared mortgage, you certainly aren’t alone.
Happily ever after may seem harder to achieve these days, but it is possible with some planning and cooperation. Learning everything you can about your options when faced with legal separation, divorce, mortgage, and co-owned home alleviates the stress attached to this type of experience while also providing valuable strategies to preserve the peace. Just remember that you had choices before you tied the knot, and you still have legal choices now. Whether you have a current mortgage in Portland or Atlanta, here’s a look at what you need to know. See More
Source from irs.gov | WASHINGTON — The Internal Revenue Service today advised employees, whose 2018 federal income tax withholding unexpectedly falls short of their tax liability for the year, that they can still avoid a tax-time surprise by making a quarterly estimated tax payment directly to the IRS. The deadline for making a payment for the fourth quarter of 2018 is Tuesday, Jan. 15, 2019.
Although the Tax Cuts and Jobs Act (TCJA), the tax reform law enacted last December, lowered tax rates for most people, it also nearly doubled the standard deduction and limited or discontinued many deductions, among other changes. Though most 2018 tax filers are still expected to get refunds, the number who owe tax, and in some cases a penalty, is likely to be larger than in recent years, and many of them are likely to be people who have always gotten refunds. See More