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March 2017 Daily Tax Tips
In like a lion, out like a lion.

Tax_tip_icon_pencil_point

You know the old saying about March, "In like a lion, out like a lion."

Wait. You say that's not right?

Well it is when it comes to taxes. March is hunker down time, like a lion waiting to pounce, as million of us taxpayers finally start to focus on our annual tax task.

What if you've already filed your 1040?

Good for you. You can afford to be more of a tax lamb, calmly making your tax plans to ensure that what you'll owe Uncle Sam on your 2017 return is as small as possible.

For you this month we'll have some tax planning items sprinkled amid our regular filing tips.

Just as with January's and February's tips, this page will collect all the tax advice that's highlighted in the upper right corner of the ol' blog each March weekday.

So whatever your March animal avatar is, let's get to it!

  1. What to do if you're missing your W-2 — Yikes! You're still waiting for your W-2 so you can file your taxes? Here's what to do about that missing wage statement. (March 1, 2017)
  2. Where's your tax refund? — That's a question millions of filers are asking. Some are confused because of refund myths that are still making the rounds this tax season. But the good news is that if you're looking for your federal tax cash, there's an app and other online tools for finding the answer. (March 2, 2017)
  3. Watch out for these Dirty Dozen tax scams — Tax filing season is tax scam season. These 12 criminal schemes have been around for years because, sadly, they work. Don't fall for these oldies and baddies. And also be on the lookout for a new one now that the IRS is again using private bill collectors to get money from some delinquent taxpayers. (March 3, 2017)
  4. Life changes that could affect your withholding — The information you provide on your W-4 form determines how much income tax is withheld from your paychecks. When your life changes, it's probably time to fill out a new W-4. Here are some common situations that prompt adjusting your withholding. (March 6, 2017)
  5. Deductible medical costs — Going to the doctor is never fun, but the tax consolation is that you might be able to deduct some of your medical expenses if you itemize. This includes copays and payments you make to meet your insurance's deductible. But there are some other less common medical costs that could count, too. (March 7, 2017)
  6. 10 things that aren't taxed — What does the Internal Revenue Service tax? Just about everything. Earned and investment income. Gambling and prize winnings. Barter payments. Even ill-gotten gains (right, Scarface?). But despite the wide net that Uncle Sam's tax collector casts, there is some money that he doesn't get to reel in. Here are 10 examples. (March 8, 2017)
  7. $1 billion in unclaimed 2013 refunds — Lots of folks are anxiously awaiting their 2016 tax refunds, but around a million also are due money from Uncle Sam in connection with tax returns they didn't file three years ago. But to get your part of the $1 billion the IRS wants to refund, you must file your 2013 return by this April's tax deadline. (March 9, 2017)
  8. 5 ways to spend your FSA — Have a medical flexible spending account (FSA)? Does your employer give you until the March 15 grace period deadline to use the account money? Here are some ideas on how to spend your FSA money in the next few days so you don't lose it. (March 10, 2017)
  9. Tax break for short-term home rental — Is your city hosting a special happening, like South by Southwest (SXSW) here in Austin or some of the college basketball games that are part of the NCAA March Madness tournament? You could make some tax-free money by turning your home into a short-term rental during the big event. (March 13, 2017)
  10. Tax tips from athletes in tax trouble — The sports' focus for the next month is on college basketball. But the young men playing in the March Madness NCAA basketball tournament — and all of us, in fact — can learn some important tax lessons from pro athletes who found themselves in trouble with tax collectors. (March 14, 2017)
  11. How does the AMT work? — The Alternative Minimum Tax (AMT) is a parallel federal tax system that was created almost 50 years ago to make sure rich taxpayers couldn't zero out their Internal Revenue Service bills. The AMT, revised in 2012 so that exemptions are now adjusted for inflation, has its own tax rates and limited deductions. Donald J. Trump had to pay more than $30 grand in AMT in 2005, but you don't necessarily have to be a millionaire to fall into its clutches. (March 15, 2017)
  12. 10 IRS notice tips — You definitely didn't want to see that envelope with an Internal Revenue Service return address in your snail mail box. But don't panic. It's probably one of the tax agency's basic notices seeking just a bit more information about your tax return. And in many cases, the matter can be quickly resolved. (March 16, 2017)
  13. Tax help for helping an elderly parent — Some senior citizens depend on help from groups like Meals on Wheels. Others get substantial support from their families. If you or an aging relative is in the family help category, make sure the caregiver checks out the possible tax breaks for taking care of mom or dad in their Golden Years. (March 17, 2017)
  14. Tax breaks for making your home energy efficient — A new, warmer season has arrived. That means it's time to spring into action when it comes to residential energy-saving tax breaks. There's the one for energy upgrades to your home that you might be able to claim on your 2016 return. For 2017 through 2021, certain solar energy systems get an even bigger tax credit. (March 20, 2017)
  15. Timing and your capital gains tax rate — When to sell? That's the key question investors always must ask in determining how to cash out at the most profitable time. But your asset selling time frame answer also affects how much tax you'll owe Uncle Sam. Generally, more patient investors will face a lower tax bill. (March 21, 2017)
  16. FSAs, HSAs and taxes — Medical expenses can take a big bite out of your wallet. However, a couple of special tax-advantaged accounts — flexible spending account (FSA) and health savings account (HSA) — are good remedies for both your doctor and tax bills. (March 22, 2017)
  17. Picking the proper Form 1040 — Form 1040 is the granddaddy of Internal Revenue Service documents. It's the one that millions of us complete to report our income and figure any associated federal taxes or refunds due. There are, however, three versions of 1040. Picking the one that best fits your tax situation will make filing easier and could save you money. (March 23, 2017)
  18. 6 tips for new taxpayers — Filing a 1040 for the first time? Don't panic. Here are six suggestions to help you make it through your initial contact (and future ones, too!) with the Internal Revenue Service. (March 24, 2017)
  19. Donating your RMD to charity — Do you have to take a required minimum distribution (RMD) from a traditional IRA or other tax-deferred retirement account? The tax code also offers a way to meet that mandatory withdrawal without owing tax. You can donate your RMD directly to a qualified charity. (March 27, 2017)
  20. Capital gains tax on collectibles not that low — You're thinking of selling that coin your numismatic grandpa gave you years ago. An internet search shows it's worth a decent amount. Even better, your profit will be taxed a lower capital gains rate. But it's not as low as you might think. Collectibles held for more than a year are taxed at a long-term capital gains rate of 28 percent instead of the commonly cited 15 percent or 20 percent rates. (March 28, 2017)
  21. Valuing deductible donated goods — You cleaned out your closet and are headed to your favorite charity to donate the items. So how much can you deduct? The Internal Revenue Service says the fair market value of any clothes or household goods that are in good or better condition. These valuation guides can help you arrive at the IRS-acceptable dollar amount. (March 29, 2017)
  22. Home repair or home improvement? — Not only are there differences between home repairs and home improvements, the designation makes a difference in your taxes. (March 30, 2017)
  23. Claiming the regular or simplified home office deduction — Maintaining an IRS-approved home office can help reduce your sole proprietor tax bill. But do so typically entails a lot of record keeping. Some small business owners, however, might find that the simplified home office deduction works just find for them. (March 31, 2017)

Want more tax tip goodness? You got it!

Below are links to all the 2017 monthly daily tax tips pages. So far, we've got January, February and here on this page March. When April arrives, that text below will be linked, too.

January 2017 Daily Tax Tips

February 2017 Daily Tax Tips

April 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

  • Tax-saving HSA contribution limits go up in 2026 — The amounts that health savings account (HSA) owners can put into this tax-advantaged medical plan is going up next year. The increase is part of the IRS’ adjustment this week of the 2026 limits for HSAs, associated high deductible health plans (HDHPs), and the lesser-used health reimbursement arrangement (HRA). (May 2, 2025)


  • Tax Tip; click pencil for all tax tip links

  • The 2025 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
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    Kay Bell — Native Texan
    (the blog title totally makes sense now, right?). Professional journalist. Tax geek.
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  • Tax Year 2025 Continues!

    We made it. Tax Day 2025 is finally over. For most of us. When the filing season started on Jan. 27, the IRS said it expected more than 140 million individual tax returns for tax year 2024 to be filed by April 15. When the month started, the agency was around 39 million short of that number. While many taxpayers no doubt got their 1040s in by Tax Day, million every year get an extension to file. That's fine.

    In fact, the Internal Revenue Service appreciates some of us spreading out our tax submissions. It gives the agency time to process the surge of returns that arrive en masse on April 15.

    But enough about Uncle Sam's tax collection issues. The focus now is on all y'all who filed for extensions, giving you another six months to complete your return. Let's get started on meeting that new Oct. 15 deadline. It will be here before you know it.

    The monthly tips and reminders a little further down this column can help you finish up your extended Form 1040. There also will be tax tidbits each month that make sure you meet other tax deadlines. And, of course, you'll find advice on ways to cut your 2025 tax bill.

    The monthly tips and reminders a little further down this column can help you finish up your extended Form 1040. There also will be tax tidbits each month that make sure you meet other tax deadlines. And, of course, you'll find advice on ways to cut your 2025 tax bill.
    Note: I'm in the Central Time Zone, so adjust accordingly for where you live.


Time for Tax Tasks


  • monthly tax moves


  • 💐 May 💐 is 💐 here! 💐

    You've got to love a month that starts with a celebration, at least globally. But even though May Day isn’t an official or very big deal here in the United States, there still are lots of other May celebrations. Cinco de Mayo. Mother’s Day. Memorial Day.

    May Pole Dance via GIPHY


    In between, we can celebrate the arrival of the month that, for most taxpayers, means the main 2025 tax task of filing our returns is behind us. Now it’s on to shower-fed flowers, balmy days, and additional tax moves to take care of so that the rest of the year goes smoothly. Let the May tax merriment begin!


  • May 1: It’s not such a merry day for some taxpayers. Not only did the residents of eight states have to earlier deal with a major natural disaster, their Tax Day that was delayed because of those damages is today, May Day, no doubt prompting a mayday call from some affected filers.

    May 2: The rest of us made it through last month, the one that is home to the annual U.S. filing deadline. Did Tax Day mean you got or are expecting a big refund from that filing? Or did you end up owing Uncle Sam a lot? Either way, with your most recent taxes fresh in your mind, it's a good time for a paycheck checkup to determine whether you should adjust your payroll income tax withholding.

    May 5: ¡Feliz Cinco de Mayo! Fiestas are always en vogue in Tejas, but the epitome of them is this Mexican holiday.

    Feliz Cinco de Mayo

    No, it is NOT Mexican Independence Day, and May 5 tends to spur more festivities here north of the border, especially when it comes to imbibing margaritas, the Lone Star State's unofficial cocktail. With every Cinco toast, remember that the cost of state and federal alcohol taxes are included in the mixing.

    May 11: Happy Mother's Day!

    Happy Mother's Day

    Your mom meant it when you were young and she told you she didn’t need a gift today. But she definitely will appreciate a longer-than-usual hug on her special day. Love, flowers, and the best of health and happiness to every mother, from the new ones just discovering the joys, tax and otherwise, of new parenthood to those gracefully maneuvering their Golden Years and getting some year-round tax-advantaged help from their families.

    May 12: If your job is as a server at a restaurant or at any other establishment where gratuities from customers are part of your compensation, I hope you get all the tips you deserve for doing your job well. Remember, though, that those tips are taxable income.

    restaurant check tip iStock
    Whether you're dining at your favorite eatery or getting food, groceries and/or prepared meals, 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.

    And if you got at least $20 in gratuities in April for your extraordinary services as a food server or hair stylist or parking valet or whatever job where tipping is common, you must report that amount by today, a bit late since the normal 10th of the month deadline fell in May on Saturday. Use Form 4070 to let your employer know the total tips you took in last month.

    May 19: Millions of taxpayers got an extension to file, or automatically got a later Tax Day due to a major disaster declaration. These individuals can still file electronically, which the IRS recommends. E-filing will speed up processing of returns whenever they are filed, as well as help Uncle Sam get refunds out more quickly. And yes, some late filers are due refunds.

    The IRS-Free File Alliance partnership offers no-cost online tax preparation and electronic filing to taxpayers whose adjusted gross income (AGI) is $84,000 or less, regardless of filing status at the official IRS.gov Free File website.

    Even better for eligible late filers, Free File will be available through the Oct. 15 extension deadline, with the same eight software companies that participated last year back for the 2025 filing season.

    IRS Free File; click image for details

    If your income is too high, you still can file for free by using Free File's Fillable Forms option.

    May 23: Millions of Americans will be welcoming the unofficial start of summer this long Memorial Day weekend. It’s also when gasoline prices always seem to increase. Some of the pump price is attributable to fuel excise taxes. If pump prices climb too much, that may prompt you to look more closely into getting an electric vehicle (EV) before your next road trip, and before the current White House and Congress eliminate the potential $7,500 tax credit for some EVs.

    May 26: Yes, the end-of-May long weekend is a time for fun. But don’t forget the real reason for the Memorial Day holiday. Take time to honor the military personnel who made the ultimate sacrifice. And don't forget about their families. There are some tax considerations offered survivors of lost soldiers, sailors, and air crew.

    May 31: You filed your tax return six-plus weeks ago and you’re still waiting on your refund. What the what?! Quit fuming and check your refund’s status using the IRS' "Where's My Refund?" online tracking tool.

    Small Business Tax Calendar: If you run your own company, you know there are myriad important filing, deposit and record keeping dates throughout the year that your company needs to meet. You also can track key business and individual tax deadlines in IRS Pub. 509.

State Tax Help

  • Don't forget your state taxes!
    Forty-two states and D.C. collect personal income taxes. But even if you live in of the eight states without any 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 2025 page.

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  • 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 interpretation and 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. While I work to ensure each post's accuracy, the items are not recommendations of any specific tax action(s) you should or should not take. Similarly, mentions of commercial tax products or services are not endorsements.

    In other words, my ramblings on the ol' tax blog are free advice, and you know what they say about getting what you pay for. That's why when it is time for you to file your own taxes, I urge you to get additional, professional, paid-for guidance from an accountant, Enrolled Agent, or other reputable, qualified tax preparer who is familiar with your individual tax circumstances.

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COVID-19 & Taxes

  • COVID-19
    Coronavirus has wreaked havoc
    on the 2020 and 2021 tax seasons.
    These five Coronavirus (COVID-19) and Taxes pages have details:
    March-July 2020
    August-December 2020
    January-December 2021
    January-December 2022
    …and so it continues into 2023
    …and, alas, into 2024
    It is 2025 and, yes, it's still an issue
    You can find medical coronavirus resource links in the next section.

COVID-19 Resources

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    Red yucca and orb spider after April shower. (Photo by Kay Bell)
    ...............................................

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 — Congress and the White House for our tax laws. 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.
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