Filing Feed

Photo by Pixabay Today the hubby got a disconcerting mailing from one of his investment accounts. It had paperwork for survivor claims. The last we checked (a few hours ago), he is very much alive. And since neither he nor I asked for this information, we immediately thought someone might have stolen his identity and tried to cash out this account. That doesn't seem to be the case (whew!). Our initial checks into the account, both ourselves online and by calling the investment company, indicate there's no security issue. But it's a good reminder to stay on top of your... Read more →


Billowing smoke from the wildfire ravaging norther New Mexico. (Screen shot of video posted on The Weather Channel, provided by Jackson Mathey via Storyful) The Hermits Peak and Calf Canyon wildfires that have merged and been burning a large swath of northern New Mexico for weeks now has been designated as the largest in the state's history. The combined blazes, driven by straight-line winds, have engulfed nearly 300,000 acres, or around 469 square miles, of the Land of Enchantment as of this morning. Only around a quarter of the fire area has been contained, according to InciWeb, a U.S. government... Read more →


Unemployment benefits can help relieve some of the sting of losing your job. But there are downsides. The monthly amounts again are fully taxable. And during the COVID pandemic, criminals have had a field day getting fraudulent payments, and causing tax troubles for those individuals whose identities they stole. The COVID-19 pandemic and employment still are inextricably linked. When the coronavirus hit the United States in 2020, the concern was for the companies that had to shut down, and their employees who suddenly were without paychecks. Congress passed a series of COVID relief bills that provided relief options for companies... Read more →


Here are this weekend's full Flower Moon eclipse stages. The moon moves right to left, passing through the penumbra and umbra, leaving in its wake an eclipse diagram with the times (Eastern time zone) at various stages of the eclipse. Visualizations by Ernie Wright, NASA Scientific Visualization Studio. Click here for the video version. And if it's cloudy where you live, you can livestream the eclipse. It's Friday the 13th, the only one in 2022. A total lunar eclipse will turn the full Flower Moon red Sunday night. The only thing that could amp up our combined superstitions and natural... Read more →


It's likely to be a long road getting to free filing offered directly by the IRS. (Photo by Christopher Paquette via Flickr CC) With the bulk of the annual tax-filing season over, it's time for the regular autopsies of how things went. Much attention is rightfully focused on the Internal Revenue Service's continuing problems in digging out of the 2020 and 2021 backlogs exacerbated by COVID-19 pandemic protocols. But this year, the ways we taxpayers get our returns to the overloaded IRS also is getting a lot of attention. The chorus calling for the IRS to cut out the tax... Read more →


Photo by cottonbro from Pexels It's been a week since Tax Day 2022. Those who submitted tax returns have been enjoying being done with the Internal Revenue Service for another year. But maybe it's time to give Uncle Sam's tax collector a little more thought. Here are 5 tax matters to consider so that you can completely clear your 2021 tax year decks. 1. Review your payroll withholding: The IRS reminds us every year that most taxpayers get refunds. That's because a lot of filers plan it that way. They overwithhold taxes from their paychecks as a forced savings account.... Read more →


Vice President Kamala Harris looks on as President Joe Biden makes remarks on the White House lawn. (White House photo) Tax tradition return redux: Biden and Harris again release their tax returns The United States' top two elected officials were among the millions who filed 2021 tax returns this year. President Joe Biden and First Lady Jill Biden reported on their joint Form 1040 adjusted gross income of $610,702. After the figuring was done, they paid $150,439 in federal income tax, which was a 24.6 percent effective tax rate. Vice President Kamala Harris and her husband Douglas Emhoff reported more... Read more →


Most U.S. taxpayers made it through Tax Day 2022. They either filed their 1040 forms, or they got an extension to submit their returns by Oct. 17. The Internal Revenue Service reported that by April 15, which usually is the annual filing deadline, but was pushed to the next business day by Washington, D.C.'s Emancipation Day holiday, it had received more than 122.5 million returns. That's around 73 percent of the people who filed in 2020 and 2021, when filings exceeded historical averages. The count was higher those years because people who normally weren't required to send in a return... Read more →


via GIPHY So, you missed Tax Day. It happens. Don't panic. But don't dawdle. The Internal Revenue Service is serious about wanting your tax forms and, of course, any taxes you owe. If you miss the annual deadline, regardless of exactly when it falls, then you'll likely end up facing filing-related penalties, the harshest of which is for not filing at all. Below are four things you need to do now to get out of that penalty jam with as little damage as possible. Plus, there's a fifth tax move that could pay off for folks who aren't legally required... Read more →


Tax Day arrives even later for some major disaster area victims. Most U.S. taxpayers are chilling today. They either filed their annual tax return on Monday, April 18, the slight delay created by Emancipation Day 2022 falling on the usual April 15 Internal Revenue Service deadline. Or they sent the Internal Revenue Service Form 4868 to get an extra six months to file. But some tax procrastinating residents of Maine and Massachusetts are working on their federal (and state) returns today. That's because Monday was Patriots Day, a statewide holiday in those two New England states. The IRS pushed Tax... Read more →


Tax things are sort of back to normal. It's April, the traditional month in which our returns are due. And while today's Tax Day is a few a few days late thanks to the Emancipation Day holiday, it's here. So now what? Here are some things to do to take care of your 2021 tax return, and more, on Tax Day 2022. Ultimate tax procrastinators: It's not unusual for millions to wait to file. Last year, more than 21 percent of people who ultimately filed a return did so in the last week before Tax Day, which was delayed until... Read more →


Yeah, this image is (sadly) amusing, but a quick, real tax payment note. Make your check or money order, as long as it's not for an astronomical amount, payable to U.S. Treasury, not the Internal Revenue Service. Are you going to have to pay Uncle Sam tomorrow? Is your due tax a lot? A whole lot? If your tax bill is very — and I mean VERY — big, you won't be able to send the U.S. Treasury a check. Specifically, the Internal Revenue Service warns those who are extraordinarily deep in tax debt that it can't take a single... Read more →


Photo by Vidal Balielo Jr. via Pexels Filing status is one of those tax matters that seems so simple, but which often trips up taxpayers in real life. As noted (shameless plug warning) in my 5 filing status choices item for the April Tax Tips page, most folks' status stays the same from tax year to tax year. But a change (or two, or more) in your personal situation could mean you need to revisit how you file your return. The head of household (HoH) status is a frequent source of confusion. Here, an unmarried person takes care of the... Read more →


Do check out these following related — and legitimate — tax write-offs Sometimes your home is indeed located at the intersection of favorable tax breaks. Sometimes it's not. Below is a look at the difference between some questionable and acceptable residential (and more!) write-offs. Every tax-filing season, the great quest by filers is to find the most tax breaks. But there are some deductions and credits you should steer clear of. These expenses that don't meet Internal Revenue Service guidelines mean the agency will stop processing your tax return to give it second (or third, or …) look. At best,... Read more →


The time left until Tax Day 2022 is tick, tick, ticking away. If you're feeling like silent movie legend Harold Lloyd, hanging on by your fingernails as you try to finish your Form 1040 by Monday, April 18, rescue yourself by filing instead for a six-month extension. Most of us are procrastinators at some point in our lives. This tendency to hold back tends to show up when we're facing particularly difficult decisions or tasks. Tax filing time is one of those times. But waiting until the last minute can be costly. If we get in a hurry to meet... Read more →


Millions of taxpayers are facing their first tax payment for 2022 on Monday, April 18. No, I'm not talking about any tax due you sent along with the 2021 return you filed or are frantically working on this last week before Tax Day. That money counted toward last year's taxes. I'm talking about the taxpayers who will be paying a separate amount to cover their earnings during the first quarter of 2022. Yep, it's estimated tax time again. And yep, the first payment of the current tax year coincides with any tax due for the previous one, making Tax Day... Read more →


You have a mortgage that, even after refinancing at a lower rate, racks up a substantial interest bill. That home's property taxes were pretty hefty, too. (Note to self: Next appraisal period, protest the assessment.) Don't even start with your state — and county and city — income taxes. But at least your good salary meant you were able to be really generous. All those factors could mean you're in the tax-filing minority that finds itemizing expenses will get you a larger deduction than the standard amount. Here are some tips to help you get the most out of your... Read more →


If you've put off your tax filing until this last week before Tax Day, don't panic. You've still got time to do the tax job right. Tax Day is one week away! Yeah, I know. Not really a reason for celebrating, especially if you're just now tackling your taxes. There's no way to make this final tax filing week festive. However, these 10 last-minute filing tips can help you get the job done by the April 18 deadline. 1. Determine whether you need to file. Most Americans who earn money, be it through full-time jobs or self-employment or investment income,... Read more →


If you are a U.S. taxpayer living outside the country and frantically working to meet this year's April 18 tax-filing deadline, take a breath. Then mark your calendar for June 15. The Internal Revenue Service grants taxpayers who are overseas, including members of the armed forces stationed abroad, and automatic two-month extension to file. You don't have to send in Form 4868 to get it the extra filing time. Note, however, that this automatic extension to file is just that, an extension to file. If you owe tax for the 2021 tax year, you must pay it by this year's... Read more →


Photo by RODNAE Productions from Pexels Tax Day 2022 is just more than a week away, and based on Internal Revenue Service filing statistics, millions of us need to get to work. Uncle Sam's tax collector says the nearly 92.3 million filings it received through April 1 are running about 2 percent behind last year's numbers. Using 2021 numbers for comparison, that's more than 77.8 million unfiled returns so far this year. Of course, last year's filing figure is larger than previous years since millions who weren't required to submit returns did so that they could get COVID-9 economic impact... Read more →