Tax Season Begins, but Some Must Wait to File Taxes
At the start of 2011, the IRS has announced that needs additional time to update tax processing systems, due to Congress’ late approval of an updated tax code. This means that an estimated 50 million taxpayers may have to wait until mid- to late-February in order to file taxes and receive a refund. Many taxpayers expecting a tax refund this year, will want to file their taxes early. Unfortunately, taxpayers who itemize their deductions on Form 1040 Schedule A – both electronic and papers versions — will need to wait. Taxpayers may have to wait if they itemize deductions including...
read moreTips for First Time Tax Filers
So you are on your own. First apartment, new car, just started the new job. And guess what! You have to do your own taxes for the first time ever. Now you could do what I did at first, beg mommy to continue to take care of your forms for extra visits and kisses, or you can step up to your new-found adult title and take care of it. But how do you go about it? What can you deduct? More helpful tips from TK! Scary, scary. You want to get the most out of your tax refund. That’s an extra night out waiting for you in those forms! But don’t get too hasty. The first mistake a lot of us...
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