Tax return

What’s a W-4?

New job?  Did they hand you a Form W-4 to fill out? Confused? Well you aren’t alone. This form seems to confuse a lot of people. What you are doing is telling your employer how much to withhold from your paychecks. The higher the number of allowances, the less they withhold and the less you […]

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IRS audits and notices

The good news though is that the amount of audits has gone down. In 2010 the audit rate for individuals was 1.1% and in 2015 it was .8%.  So 350,000 fewer people were audited in 2015 than in 2010. You are more likely to receive a Notice than an actual Audit.  Notices are normally much […]

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Refund or Balance Due?

If you filed your return and are expecting a refund you can check this IRS handy on-line tool to find out the status of it. You can check it 24 hours after it has been e-filed or 4 weeks after it has been mailed. Have a balance due?  You should pay it by April 18th.  If […]

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Advance Payments of the Premium Tax Credit

Time is running out if you received advance payments of the premium tax credit in 2015 and have not filed your 2015 tax return yet. You must file your 2015 return and reconcile any advance credit payments you received in 2015 in order to help prevent losing eligibility for future premium assistance. The IRS is sending […]

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