• Home
  • Table of Contents
  • Tax Tips
  • Credits
  • Deductions
  • Refunds
  • State Taxes
  • Politics/Laws
  • Tax Terms
  • Archives

Don't Mess With Taxes

Translating taxes into money-saving English

Home Table of Contents Tax Tips Credits Deductions Refunds State Taxes Politics/Laws Tax Terms Archives

April 2017 Daily Tax Tips
Spring tax showers nourish tax flowers.

Tax_tip_icon_pencil_point

It's finally here! Uncle Sam's favorite month, no April fooling, since it's the home to the Internal Revenue Service's annual mid-month filing deadline.

Just like last year, we get a few extra filing days in 2017, until April 18, thanks to the Emancipation Day federal holiday. It's on April 15 and since that's on a Saturday this year, the holiday will be observed on Monday, April 17.

Federal tax law says that legal holidays in the District of Columbia affect the filing deadline across the nation. So that pushes the whole country's tax return due date to Tuesday, April 18, 2017.

You're welcome, procrastinators. And there are a whole lot of us. Yes, us. I, too, tend to put this task off until the bitter end every year.

In fact, I typically get an extension to file, even when we have extra time like this year. My excuse reason is that the extra six months give me more time to gather all my filing data, make sure I haven't missed any possible tax breaks and contribute to my self-employment retirement accounts. Yep, all us entrepreneurs get until the extended due date to contribute to our SEP IRA or other similar nest eggs.

But enough of dilly-dallying now. It's time to get to the final Daily Tax Tips of the main 2017 tax-filing season!

  1. Claiming casualty losses — Bad things happen to good people all the time. In some cases, Uncle Sam can help. You can claim casualty losses, which the Internal Revenue Service describes as "damage, destruction or loss of property from an identifiable event that is sudden, unexpected or unusual" by itemizing on your annual taxes. And when it's major natural disaster, you can amend your tax return to claim them and get potential refund help sooner.(April 3, 2017)
  2. Dirty Dozen tax scams of 2017 — The same scams seem hang around each tax season, but apparently they are still catching some naïve taxpayers. As the 2017 filing season winds down, make sure you don't fall for any of these 12 tax schemes aimed at stealing your identity and tax refund. (April 4, 2017)
  3. 10 overlooked tax breaks — Every tax-filing season taxpayers lose money by not claiming all the tax breaks they can. Don't be one of them! Check out these 10 tax sins of omission and make sure you don't commit them. (April 5, 2017)
  4. 10 costly tax mistakes — It's one thing to overlook a tax break that could lower your tax bill. Those will cost you money, but they won't invoke the ire of the IRS like making one of these tax mistakes that shortchanges the U.S. Treasury. (April 6, 2017)
  5. Don't wave these 10 audit red flags — Internal Revenue Service audit rates are historically low, but that doesn't matter if your return is one of the few that gets pulled for a closer look by a tax examiner. You can lessen your odds by not making any of these IRS eye-catching moves when you file. (April 7, 2017)
  6. Tax advantages of savings bonds — U.S. savings bonds may seem old school, but they offer several tax advantages, including in connection with paying education costs. Interest on bonds also is exempt from state and local taxes. And you can use your tax refund to buy saving bonds. (April 8, 2017)
  7. VITA, TCE sites off free tax help — Looking for in-person tax preparation and filing help, but don't make enough to pay a professional? Check out the Internal Revenue Service-certified volunteers at Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) sites across the United States. (April 9, 2017)
  8. Check out above-the-line tax deductions — Most taxpayers claim the standard deduction, but they still might be able to reduce their tax bills by using some of the income adjustments, popularly known as above-the-line deductions, that are found directly on tax return Forms 1040 and 1040A. (April 10, 2017)
  9. Maximizing itemized deductions — If you itemize deductions, make sure you make the most of what can be claimed on your Schedule A. (April 11, 2017)
  10. IRA contribution tax benefits — Time is running out to make tax-saving moves. But adding to an traditional IRA by the April filing deadline could be a win-win-win. (April 12, 2017)
  11. 12 more often overlooked tax breaks — Nearly 40 million of us have yet to file our tax returns. That means we (yes, I'm one of them) will be scrambling to finish our 1040s these final few days before the April 18 deadline. If you're one of us, make sure you don't overlook valuable tax breaks, like the dozen listed here. (April 13, 2017)
  12. Why tax credits rule — Both tax deductions and tax credits help reduce what you own Uncle Sam. But credits are better that deductions because they cut your Internal Revenue Service tax bill dollar-for-dollar. (April 14, 2017)
  13. The scoop on paying estimated taxes — Millions of U.S. taxpayers have to make four extra tax payments every year. Here's the who, what, when, where, why and how of estimated taxes. (April 15, 2017)
  14. Tax e-file, e-pay options — The Internal Revenue Service is a big fan of online options. That's why it offers us taxpayers a wide variety of electronic ways to file returns and, if necessary, pay any money we owe Uncle Sam. (April 16, 2017)
  15. 6 tax tasks to take care of by April 18 — Tax Day (it's April 18 this year) isn't just the annual tax-filing deadline. Here's a look at every tax move you might need to make by this year's April due date. (April 17, 2017)
  16. 10 last-minute tax filing tips — Still working on, or about to start, your 2016 tax return? Here are 10 last-minute tax filing tips. (April 17, 2017)
  17. 5 tips for tax snail mailers — Are you a committed snail mailer when it comes to your taxes? Here are some tips to help you complete your tax task the old-school way. (April 18, 2017)
  18. Tax filing extension tips — Just can't get your 1040 finished by today's tax-filing deadline? Get an automatic six-month extension by filing Form 4868, the tax procrastinator's best friend. Here's how. (April 18, 2017)
  19. 4 moves to make ASAP if you missed the tax filing deadline — Did you forget (yeah, let's go with "forgot") to file your taxes on April 18? Then you need to take these steps NOW! (April 20, 2017)

Want more tax tip goodness? You got it!

Below are links to all the 2017 monthly daily tax tips pages. Peruse them at your leisure or as the tax deadline demands.

January 2017 Daily Tax Tips

February 2017 Daily Tax Tips

March 2017 Daily Tax Tips

Can't get enough tax tips? Check out Don't Mess With Taxes' continually expanding collection of year-round tax tips and money moves.

Today's Tax Tip

  • Key 2023 federal tax deadlines — We made it through the first week of tax season 2023, but another deadline is looming. Jan. 31 is the filing, and tax payment, deadline for taxpayers who opted not to make their final 2022 estimated tax payment on Jan. 17. This tax calendar has that and other key individual tax due dates for the rest of this year. (Jan. 30, 2023)

  • Tax Tip; click pencil for all tax tip links

  • The 2023 Tax Tips offer ways to file your annual return, along with post-filing advice, important tax news and, of course, ways to cut your current tax year bill. You'll find the monthly assemblages on their own respective pages: January, February, March, April, May, June, July, August, September, October, November and December. Remember, tax tasks and tips don't stop after you file your annual return!

All About Kay

  • OK, some about Kay
    Open sign
    Kay Bell — Native Texan
    (the blog title totally makes sense now, right?). Professional journalist. Tax geek.

My Other Accounts

Advertisements

  • *************

Tick ... Tick ... Tick

  • Tax Year 2023 Countdown!

    Happy New Tax Year! Are you ready to file your 2022 tax return? Me neither. But at least this year we're getting some extra time to file and pay any tax we owe. Even better, it's not COVID-19 pandemic related. Tax Day 2023 is Tuesday, April 18. This later date is because April 15, 2023, is on Saturday, and the next business day, Monday, April 17, is Emancipation Day.
    When this Washington, D.C., holiday falls on the day our federal taxes are due, it bumps Tax Day nationwide to the next business day. So this year, we have until Tuesday, April 18, to finish our federal forms and, if we find we owe, come up with the money for Uncle Sam. The states that follow the federal tax calendar, which is most of them, also tend to abide by this date change.

    The countdown clock below should help us from missing out on making important tax-saving moves the rest of this year. Plus, the Tax Moves below the counter will list some timely tasks to take care this first month of 2023, and each of the remaining 11 when they arrive. They'll speed by quickly when you're having tax fun!
    Note: I'm in the Central Time Zone, so adjust accordingly for where you live.


Time for Tax Tasks


  • monthly tax moves


  • Hell February, and ❤ to our new 2023 Valentine, the Internal Revenue Service. OK, maybe love for the IRS is a little much, but we at least want to make nice with Uncle Sam's tax collector this month as it goes into the first full, albeit short, month of the tax season. That means some taxpayers will be getting their refunds in February!

    via GIPHY

    With just 28 days, it will mean some full days for both IRS employees, some of whom are still trying to catch up on that lingering COVID-19 pandemic backlog, and all of us who'll file this month. So let's not waste anymore time, and get to some tax tasks for this shortest month of the year!

    Feb. 1: Employers and other third-party payers were to have issued us our W-2 and associated 1099 forms by Jan. 31. If you're still waiting, be patient and give them a tad more time. And don't forget to check your email, as many issuers sent out electronic notices of the online availability forms and other statements you need to file your taxes instead of relying on the U.S. Postal Service.

    Feb. 2: Happy Groundhog Day!

    Fat Groundhog; click image for Groundhog Day details

    The main reason to wait for the correct tax statements is to avoid getting caught in a Bill Murray kind of tax loop, where you have to file an amended tax return because you entered wrong info on your original 1040.

    Feb. 7: Black History Month is celebrated every day this month, commemorating the achievements by black Americans and recognizing the role of African Americans in U.S. history.

    The National Association for the Advancement of Colored People (NAACP), the nation's oldest and largest grassroots-based civil rights organization, was founded on this month, specifically on Feb. 12, 1909, the centennial anniversary of the birth of Abraham Lincoln, who issued the Emancipation Proclamation twice.

    One of the NAACP's key divisions is its Legal Defense and Educational Fund.
    If you want to support the Fund's work, during Black History Month or any day of the year, you can donate to it and, since it is a 501(c)(3) organization, claim your gift as a charitable tax deduction if you itemize. Sorry, filling out Schedule A is your only option this filing season, since Congress didn't renew the option to claim cash gifts of up to $300 for single filers or $600 for married filing jointly couples directly on Form 1040.

    Feb. 10: Do you work as a server at a restaurant or at any other establishment where gratuities from customers are part of your compensation? I hope you got lots of financial thanks for doing your job well, but remember that those tips are taxable income.

    restaurant check tip iStock
    Whether you're dining in or, still COVID leery and getting food delivered to your home, if a tip isn't included on your restaurant or delivery bill, click the image above to calculate how much to tip the person who brought it to you.

    If you got at least $20 in gratuities in January, you must account for the tips today by using Form 4070 to report last month's tips total to your employer.

    Feb. 12: Are your ready Chiefs, Eagles, and special television commercial fans? It's finally Super Bowl Sunday! Not only will today's 57th Super Bowl decide American professional football's champion, it's also the biggest single betting day of the year. The NFL, like the other professional U.S. sports leagues, have embraced betting. Just remember, if any of your wagers pay off, you owe tax on your winnings. Note, too, that even if your winnings are part of a fantasy sports bet, the associated taxes are very real.

    Feb. 14: Happy Valentine's Day! Do you and your better half file a joint return? Most married couples do. Remember to look over the 1040 carefully before you sign it. When both spouses sign their jointly filed 1040, each is jointly and severally liable for the entire tax amount due. I don't want to spoil your Heart Day celebration, but this means the IRS can come after either spouse for payment of a tax bill, even the husband or wife who is in more dire financial circumstances.

    Feb. 15: Today is the day that the Internal Revenue Service finally can issue refunds to filers who claimed the Earned Income Tax Credit (EITC) or additional Child Tax Credit. But don't spend the money just yet. Even if you're getting your tax refund directly deposited, the IRS' general processing time plus protocols of financial institutions receiving the refunds you’re your tax cash probably won't actually show up in your account until the end of this month.

    Feb. 20: Today is one of the reasons for tax refund delays. It's the Washington Birthday federal holiday, officially honoring George Washington, the Father of Our Country. Over the years, however, this federal (three-day, yay!) holiday has come to commemorate the contributions of all our Commanders in Chief, and is popularly known as Presidents' Day. That means we've got to give another shout out to Abraham Lincoln, who essentially was father of our income tax system, signing into law a tax on earnings to help pay Civil War costs.

    Feb. 24: You're ready to work on your tax return, but you're on a budget. No worries. The IRS and its Free File Alliance partners again offer no-cost online tax preparation and electronic filing to eligible taxpayers at the IRS' special Free File web page. This year, seven tax software companies are participating.

    IRS Free File; click image for details

    The Free File income threshold this year remains at adjusted gross income (AGI) of $73,000 or less, regardless of your filing status.

    Feb. 28: Wow! February really did speed by, especially since we were having so much tax fun. Or maybe you weren't having any fun at all trying to do your taxes yourself, even with software's prompts, and have decided to turn to professional tax help. That's a smart move, and here are some tips on how to find the perfect tax professional for your filing and planning needs. Note, though, that at this point in the filing season, you're likely to be placed at the end of that tax pro's very long client queue, as reputable tax preparers' calendars fill up fast. So again, be patient. You're at least now in tax filing line.

    Small Business Tax Calendar: Important filing, deposit and record keeping dates throughout the year that your company needs to know. You can get more tax calendar information at the IRS' online calendar page and view the full year's important business and individual tax dates in IRS Pub. 509.

State Tax Help

  • Don't forget your state taxes!
    Forty-three states and D.C. collect personal income taxes. But even if you live in of the seven states without an income levy, you still face other state (and local) taxes.

    State Tax Departments provides links to your state's Web page. The companion page, Tax Tidbits, is the compilation of blurbs about each state's tax laws. And for more state tax news, check out all our state tax bloggings.

Tax Forms

  • Tax Forms
    Thanks to our increased use of tax preparers and computer software, many of us don't see our tax forms until we sign and file them. But knowing what's on these documents, either in paper or digital form, and why the IRS wants it is key to understanding our tax system. And knowledge definitely is power, especially when it comes to tax savings. Find this valuable information in the ol' blog's special Tax Forms 2023 page.

What are you looking for?

  • Looking for something in particular? Start with the Table of Contents.
    Or check out the Archives, where you can review posts by month and category. Or enter specific keywords in the box below to search
    Don't Mess With Taxes.

Search

Subscribe:
E-mail, RSS or both!

  • Enter your Email


    Powered by FeedBlitz
  • RSS

Privacy Policy

  • Wondering what happens to your information once you subscribe? Don't worry. Don't Mess With Taxes respects your wish not to be a mere data source. Check the ol' blog's privacy policy at the Table of Contents page, as well as on the separate Privacy Policy page.

Sponsored Products

Affiliate Books

  • The Truth
    About Paying Fewer Taxes
  • Are you a tax geek? Got tax geek friends? Do you or they just want to make sure you don't overpay the IRS? Then my book, "The Truth About Paying Fewer Taxes," is for all y'all.

    Look for it on bookstore shelves
    or order a copy (or two!) from
    Amazon or Barnes & Noble.

  • TruthAboutPayingFewerTaxes
  • Find out more about my book and excerpted chapters at the FT Press
    Truth About Paying
    Fewer Taxes
    Web page
    .

  • You can read more
    of Kay's tax insights in ...


  • Kay Bell helps you build
    a solid tax foundation in
    "Personal Finance: An Encyclopedia
    of Modern Money Management"




    Kay Bell breaks down taxes and
    estate planning for millennials in
    "Future Millionaires' Guidebook"



    A collection of Kay Bell stories
    is included in
    "The Gambler's Guide to Taxes:
    How to Keep More
    of What You Win"




  • Tax Reading Room

    You also might enjoy these other tax tips from some of my tax-writing colleagues:

  • JK Lasser 2023 Taxes
    JK Lasser 2023 taxes

  • Dealing With The IRS
    Dealing With the IRS

  • JK Lassers 1001 Deductions
    JK Lasser 1001 Deductions
  • ~~~~~~~
    Don't Mess With Taxes
    is an Amazon Affiliate.
    If you click on the product links above and/or buy the items,
    I will be compensated.

0, 1, 2, 3, 4, 5, 6, 7, 8, 9 ...

  • Numbers
    Taxes are all about the numbers.
    Check out these (mostly) weekly
    By the Numbers figures.

Kudos Et Cetera

  • Association for Women Clarion Award Winner
    National Association
    for Women in Communications

    Winner, Best Personal Blog
    2012, 2014 & 2017

  • Plutus Award Winner
    Plutus Financial Bloggers Awards
    Celebrating the Best
    in Personal Finance

    Winner, Best Tax Blog
    2011 and 2013
    Lifetime Achievement Nominee 2020


I gotta tell ya ...

  • AKA Disclaimer:
    I am a professional journalist who has been covering tax issues since 1999.
    I am not a professional tax preparer.
    The content on Don't Mess With Taxes is my personal opinion based on my study and understanding of tax laws, policies and regulations. It is provided for your private, noncommercial, educational and informational purposes only. It is not a recommendation of any specific tax action(s) you should or should not take. Similarly, mentions of products or services are not endorsements. In other words, my ramblings on the ol' blog are free advice and you know what they say about getting what you pay for. That's why when it comes to filing your taxes, I urge you to get additional, professional, paid-for guidance from an accountant, Enrolled Agent or other qualified tax preparer who is familiar with your individual tax circumstances.

©©©©© & ®®®®®

  • Don't Mess With Taxes®
    is a registered trademark
    of S. Kay Bell.

    All content on this site is
    © 2005-2023 S. Kay Bell
    dba Write Here, a division of
    SKB Editorial Services, LLC

  • And a bit of housekeeping.
  • Note 1: Some of the links on this site
    are affiliate links. That means that
    if you click through from
    a Don't Mess With Taxes link
    and then buy the product,
    I receive a commission.

    Note 2: Links to outside content
    might become inactive due to changes
    at the copy's originating website.
    If you discover dead links, please e-mail me the details. Thanks.

    Note 3: The banner art for the ol' blog
    is courtesy Pictures of Money
    via Flickr Creative Commons.
Blog powered by Typepad
Member since 11/2005

COVID-19 & Taxes

  • COVID-19
    Coronavirus has wreaked havoc
    on the 2020 and 2021 tax seasons.
    These three Coronavirus (COVID-19) and Taxes pages have details:
    March-July 2020,
    August-December 2020,
    January-December 2021, and
    January-December 2022
    You can find medical coronavirus resource links in the next section.

COVID-19 Resources

  • COVID-19
    Need help finding a coronavirus vaccine in the United States?
    Call 1-800-232-0233
    or TTY 1-888-720-7489.
    More information and resources at:
    CDC Vaccines
    CDC Booster Shots
    HHS Combat COVID
    USA.Gov COVID Info

February 2023

Sun Mon Tue Wed Thu Fri Sat
      1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28        

Tell it to the Hill

  • DMWT Politics Posts
  • While it's easy to rail at the IRS, for the most part we can thank — or blame — our tax laws on Congress and the White House. So if you have an issue with tax legislation or want a tax bill passed, you need to let your federal legislators and the White House occupant know of your concerns. You can find out who in Washington, D.C., to contact (and how), as well as get information on your local lawmakers for matters, tax or otherwise, closer to home, at USA Gov.

..................................................



  • .................................................................
  • Don't Mess With Taxes •
  • Powered by Typepad
Top