The popular Where’s My Refund application from the IRS is something you can use anywhere to check the status of your refund and look at your tax return. You do need some information from your return, including your SSN (Social Security Number), filing status and the amount of your current year refund.
Within 24 hours you can check the status of your return when you file electronically. If you choose to mail in a copy of your return to the IRS, then wait 4 weeks prior to checking the online tool. You can see one of three status levels when you check: Received, Approved, and Refund Sent.
The information is updated nightly, so only check once a day. If you want to check the status of your return on your phone, download the IRS app ISR2Go. Amended returns have a special application called Where’s My Amended Return?
The IRS aims to have all refunds in the mail or deposited within 21 days. If you go to an IRS office, they will not check the status of your return unless it was filed electronically more than 3 weeks ago. And 6 weeks for paper returns.
Tax Transcripts are popular ways to apply for loans and to discover information about past returns. Transcripts are not helpful in discovering the status of a current tax return.
When you enter you username and password for the TurboTax login, you are going to have the chance to get your taxes done in a record amount time. Studies have shown that the time to prepare your taxes is greatly reduced when using online tax software like TurboTax. You want to have a tax assistant that is going to allow you to finish your taxes without feeling as though you are going to run out of time even if April 15th is approaching. The tax programs of today make your life much easier. And remember that you can use Intuit’s TurboTax program to do any kind of tax return that is needed, from the simple return to the most complicated.
The Simple Return
When you are doing a simple return (like a 1040EZ) on the program, you are going to be able to get it done quickly because you may only have one W-2. More than likely you will also not have to pay to file your Federal tax return. You can enter your information easily, and you will be able to submit your documents without problems. Also, you will be able to enter all your information for getting your refund back, select the best form of payment for you. This is going to get the money back to you quickly, and you will be able to get the process done in a matter of days if not hours.
When you are doing more complicated returns, TurboTax is going to ask you for all the information that must be entered to get these returns done. You will probably need to purchase a little bit more expense package, like TurboTax Deluxe. The program is going to ask for all supporting documentation so that you can take all deductions, and you will be asked to enter all the deductions that you can take. This is going to simplify the process, and you can log into TurboTax any time in the future to keep working on your taxes if filing takes more than one session. The program saves all your progress, and the program will remind you how much longer you have to get your taxes done.
You can also use the program to file a tax extension when you know that you need more time. You can file the extension (form 1040X) through the program, and the program will get a response when the IRS receives your request. You will be told how much longer you have to get your taxes done, and you will not have to worry about missing your deadline. An extra 6 months can make a big difference in the accuracy of your return and reducing your chance of getting audited. Make sure to pay any estimated tax due before the original deadline for the tax season.
Printing Your Records
When you are done with your taxes, you will need to print your paperwork for your own records. You can also save a PDF version on a drive that you backup. The paperwork that you keep is going to be proof that you filed your taxes, and you will be able to file your taxes much more easily in the future when you have your old return. Future TurboTax versions will seek out and import prior returns on your hard-drive, saving you time in entering the basic personal and work details.
If you are going to use an online program to file your taxes, you must remember that this program is going to do most of the work for you. It makes your life easier, and it is going to make it easier for you to get them done as fast as possible. Accuracy and speed make for a great tax filing experience.
Get ready for that time of year again – the 2014 Tax season is upon us.
Don’t let piles of papers and bulk expensive software ruin your tax refund joy. Opt this year for the completely free TurboTax version, no one offers a better value, a more complete return or will earn you more money back than TurboTax. Their unique and powerful software searches for every possible discount or deduction and since this year TurboTax is doing the heavy lifting in your tax preparation there’s no reason to second guess where the best value is.
For 2014 Taxes, both the IRS form 1040EZ and the 1040A are completely free to file with TurboTax, which covers almost 60 million Americans around the country. They call it Absolute Zero, which means no money to file your state return for a limited time, no money to comply with ACA health laws and no money to claim your hard earned income tax credit. This year, the TurboTax Federal Free Edition is completely free.
When you file your 2014 taxes you want to work with the best tax software in the business, that’s because the average American gets back over $2700 dollars on their taxes. That’s typically the biggest check they’ll get in 2014. When you don’t file with TurboTax you may be leaving money on the table. They understand how hard you work for your money and that’s why they want you to try their tax software free this year– see how much you save and how much easier the tax season is with their professional tax software.
Go ahead and get a jump start now, the IRS will process all E-filed returns starting on the 20th of January. If you complete your tax filling before the 20th, TurboTax will hold your return and submit it as soon as the tax filing date opens. Of Course, the sooner you complete your tax returns the faster you can get your hard-earned money back into your pocket. Turn around time on a tax return filing with TurboTax free is usually 2 weeks with direct deposit and a little over 2 weeks if you want a paper check in the mail.
Yesterday, the IRS stated that US taxpayers can begin filing their taxes for 2014 January 20th. The tax filing period will begin on schedule unlike last year when there were delays, in spite of a late tax rule introduced by Congress and approved by President Obama, according to the taxing agency.
Previously this month, a bill was passed by Congress that extended over fifty tax breaks, which had expired this time last year. This new congressional tax rule prolongs the tax breaks to the end of the year, permitting taxpayers to take the tax breaks while filing their tax returns for 2014. President Barack Obama approved the bill on December 19.
During the past couple of years, late rule changes introduced by Congress have held up the start of tax filing periods. That will not be the case on this occasion though, said John Koskinen — the current IRS Commissioner.
In an interview, Koskinen stated that the IRS had examined the late changes to the tax laws, and decided that nothing should prevent them from carrying on upgrading and testing their systems.
On a yearly basis, TurboTax free tax returns are filed by millions of people throughout the initial weeks of the tax period. The IRS will be ready to receive this huge influx of tax returns at the start. Taxpayers should be able to obtain their tax refunds quickly after the start of the tax season.
Recently, the IRS stated that it managed to take action on the majority of tax refunds in three weeks. This applies to tax returns that were electronically filed. The IRS states that electronic filing is the quickest method of acquiring a tax refund and recommends it.
Lately, Koskinen informed journalists that tax refunds may be held up, due to agency budget cuts made after the IRS TeaParty targeting scandal. Nonetheless, he would not say how long they would be held up. Many consider this to be the agency hoping for an increase in funding by claiming the tax season will be slow due to a lack of resources.
The Internal Revenue Service will process roughly 150 million tax returns this tax season. For the 2014 reporting period, tax refunds averaged approximately $2800.
It is finally the right period of the year for tax filing, and therefore time for individuals to decide how they want their taxes filed. A person who prefers to prepare their tax return rather than use an accountant or a tax preparation chain like H&R have most likely come across TurboTax 2014. This is among the most desirable online tax services so definitely many users will be using TurboTax2014 software. But how does its prices compare to those of other online tax services?
Whether a customer wants to file a 1040EZ or is interested in something more complex or to file for their little businesses, TurboTax 2014 has a solution. It offers free federal tax preparation for simple returns and three other additional packages. Those other packages are the deluxe, premier and home and business at $29.99, $49.99 and $74.99 respectively. In addition to this, their customers also get free online and phone chat.
As much as TurboTax 2014 and 2013 Taxes deluxe version costs slightly more than twice compared to similar services by their competitors, they offer a refund bonus for customers to make up for the extra cost. They offer the customers an option to get all or part of their refund back on an amazon gift card.
TaxACT undercuts TurboTax by at least half in terms of the software prices. A person using TaxACT will not pay nearly as much as one using TurboTax if they have to file an additional state. TurboTax costs $36.99 per state while for TaxACT only $5 is paid for an extra state is added. Although TurboTax is better if an individual is expecting the amazon gift card bonus and also if they want a large return, if the deductions are calculated in the beginning of the year so that they have to pay a little then TaxACT will certainly save them a significant amount of money. It also has applications on Google play store and apple app store that help check the status of the returns.
TaxSlayer is much cheaper than TurboTax and offers two paid services namely the classic edition and the premium edition at $12.95 and $32.95 respectively. With the most expensive choice, a customer is able to receive live tax advice but all the other services inclusive of the free edition offer free phone support. As much as TaxSlayer is cheaper than the TurboTax service, it is slightly more expensive than TaxACT at $14.95. It does not have a policy that gives back additional money.
Over nine hundred million dollars in tax refund money went unclaimed in one year. The Internal Revenue Service reported this notable statistic, and you may wonder how this could happen. There are two main circumstances that lead to unclaimed tax refunds.
You may end up creating an unclaimed tax refund situation if you have taxes withheld from your pay but earn less than needed for filing a refund. You will end up adding to the unclaimed refund pool if you choose not to file a tax refund. You should verify whether you qualify for an Earned Income Tax Credit, and the www.turbotax.com free edition can help you determine your eligibility.
The second reason for most cases of unclaimed tax refunds involves mailing errors. You may not receive tax filing confirmation if you have moved, changed your name, gotten divorced, or been effected by errors that originated with your post office or postal carrier.
There is no monetary penalty to pay if you do decide to claim your tax refund, but there is a time limit on how long you can wait prior to filing your tax return. You have a time limit of three years from when your tax refund was originally due, so you would have to request your 2011 tax refund by April 15th, 2014.
You can avoid an unclaimed refund scenario by filing your return on time. Filing as early as possible may be helpful as well.
Direct deposit is an ideal way to avoid an unclaimed refund scenario. Electronic deposits eliminate the potential for postal delivery errors, and you may get your refund if you choose direct deposit.
Filing your income tax return is an important financial activity. TurboTax has helped millions of people file their taxes, and you can learn about tax refunds by visiting www.turbotax.com.
Your withholding is the amount of money you have taken out of each paycheck to apply toward income taxes. When your taxes are filed at the end of the year, any amount that the Internal Revenue Service withheld is credited toward your tax bill. I, like many others, am unable to afford my own certified public accountant, and just hope that the amount withdrawn from my income will match up to the total taxes I owe. Usually that isn’t the case, but luckily, up until this point, I’ve only overpaid and earned a refund back from the IRS. Those who underpay end up getting a stiff bill, and may end up having to pay penalties as well.
According to the IRS, the average individual tax refund in 2012 was $2700. That calculates out to an average individual overpayment to the IRS of $225 per month. I have learned through a friend who uses a CPA from Burkett, that though some of us are accustomed to settling up during tax season, it is usually more beneficial for a taxpayer to calculate a withholding amount accurately in the beginning of the year. If you got a refund this tax season, you were, essentially, giving the government an interest-free loan. They wouldn’t do you a favor like that! This money may serve you better throughout the year paying down debt or accruing interest in a savings account. On the flipside, if you calculated your withholding amount improperly and you had to pay money out of pocket to the IRS during tax season, you may have suffered financially for it.
If you are having trouble determining how to make your withholding amount more accurate, or if you are receiving payment from anything other than a standard paycheck (such as distributions eligible to be rolled over into a qualified retirement or annuity plan) you may want to discuss your situation with a qualified CPA. Though it can be expensive, in some cases it can also be worth it. Certified public accountants with tax experience can make sure that you’re doing the right things to put yourself in the best position when tax season rolls around, whether that’s adjusting your withholding, or something else altogether. Sometimes being self-employed, owning your own business, or are dealing with corporate taxes can make things get a little bit muddy, and it can be helpful to address them with a qualified business CPA. I am a strong believer in the “better to be safe than sorry” approach.
Your withholding amount may have come reasonably close to the amount that you owed for the year, and if that’s the case, you probably don’t need to take any action now. However, there are a few major life events that can drastically affect the taxes you’ll owe for the year. If they occur, you will need to remember to file a new W-4 form with your employer to reflect them. Here are the top five events that may mean you need to fine-tune your withholding:
– When you get married or divorced. Married couples are usually eligible for a lower tax rate and certain deductions. A divorce can mean higher taxes for the earning spouse, and if you do not have enough withheld on your paycheck, you could face penalties and interest. This is one of those situations that can get a little hairy, so definitely consider a tax advisor or CPA if you’re struggling.
– When you have a child. Children can be claimed as dependents, and you may also be eligible for certain tax credits.
– When you can no longer claim a dependent. If one or more of your children is no longer eligible to be claimed as a dependent, you will lose an exemption and a tax credit.
– When your employment status changes. If you get a new job, a second job, become self-employed or become unemployed, the exemptions you want to claim may change. Depending on how drastic of a change you’re facing, it may be best to consult with a CPA.
– You purchase a home. If your mortgage interest and property-tax payments are higher, you may need to increase your allowances.
Whether you’re aiming to increase your withholding or reduce it, submitting a new W-4 to your employer will initiate a change that you should be able to see in your paycheck within a month. I submitted mine and saw the change on my very next paycheck! Of course, I am no professional, just a blogger sharing my experience, so if you do have any questions about how you should adjust your withholding amounts, definitely contact a trusted tax advisor or CPA.
When you are planning to file your income tax return, you want simplicity, accuracy, and options. You will have these benefits and more with TurboTax 2013.
Not every taxpayer is alike. As your personal and financial situation is unique, TurboTax 2013 offers five different editions for preparing and filing your tax return. They include the TurboTax 2013 Free Edition for simple returns, a Deluxe Edition to maximize your deductions, and Premier, Home and Business, and Business Editions. You can choose the Turbo Tax 2013 edition that is right for you.
Photo by Ted Drake
TurboTax 2013 takes the stress and work out of filing your taxes. All you need to do is follow the steps, and fill in your information. Each step is explained, so there is no guesswork.
You do not need any special skills to use TurboTax 2013. When you fill in the information, TurboTax 2013 does the calculations for you. You will not need to worry about making a mathematical mistake. The calculations made throughout the program are completely accurate.
If you have used paper forms for filing your taxes in the past, you will appreciate the filing options offered by Turbo Tax 2013. Whether you prefer to prepare your taxes online on your home computer, download Turbo Tax 2013 software to your computer, or use either your tablet or your phone, it is entirely your decision. These options make filing with Turbo Tax 2013 convenient for you.
There are other special benefits of TurboTax 2013. First, it is the fastest way to receive your refund. No other tax preparation method can have your refund to you faster than TurboTax 2013. Second, you do not need extra time to prepare your federal and state returns separately. You can do both at the same time with TurboTax 2013.
Guarantees come with your Turbo Tax 2013 tax preparation. You are guaranteed of receiving the maximum tax refund that you are eligible for when you file. You are also guaranteed your TurboTax 2013 calculations are one hundred percent accurate.
If you wish to speak with a tax expert, TurboTax 2013 offers this option at no charge. You will also receive audit support from Turbo Tax 2013 if you need it.
The sooner you file your tax returns, the sooner you will have your refunds. Whether you are expecting refunds from the IRS, your state, or both, you can complete the entire process within a few minutes. Turbo Tax 2013 is the fastest, easiest way to file.