Surprise! You Have Taxes Due!
Did you have a surprise tax bill when you filed your return this year? There are a variety of reasons this can happen.
Easy steps to make tax filing easier in 2022
Another year has come and gone and here we are looking ahead to tax time. Are you one of the many taxpayers who struggle to have all your documents ready for the accountant to prepare your taxes? The Internal Revenue Service today encouraged taxpayers, including those who received stimulus payments or advance Child Tax Credit payments, to take important steps to help themselves file their federal tax returns in 2022.
Planning ahead can help you file an accurate return and avoid processing delays that can slow tax refunds
Tax Planning: 101
Year-round tax planning is for everyone. An important part of that is recordkeeping. Gathering tax documents throughout the year and having an organized recordkeeping system can make it easier when it comes to filing a tax return or understanding a letter from the IRS.
New IRS Program Prevents Identity Theft on Tax Returns
Identity theft happens when a person deliberately uses someone else's identity as a method to gain financial advantages or obtain credit and other benefits. The person whose identity has been stolen may suffer adverse consequences, especially if they are falsely held responsible for these criminal actions. Personally identifiable information generally includes a person's name, date of birth, social security number, driver's license number, bank account or credit card numbers, PINs, electronic signatures, fingerprints, passwords, or any other information that can be used to access a person's financial resources.