By Lynnette Khalfani-Cox, The Money Coach®
Before you fill out your federal income taxes — or have an accountant complete that chore for you — you’ll need to collect W-2 forms from your current or former employers. Companies are supposed to send out your W-2, also known as a Wage and Tax Statement, by Jan. 31 of each year. Unfortunately, not all businesses meet this deadline.
Tax scams don’t all look the same, but they are all intended to steal your money. Most fall into one of several categories of illicit acts, including phone scams, phishing and tax provider scams. Help yourself avoid these scams by knowing what kinds are out there and taking steps to keep your money safe.
This content is provided courtesy of TurboTax.
Looking forward to a large refund? That might mean your withholding is too high.
It starts with your phone ringing — the most prevalent tax scam making the rounds this year. The caller claims to be from the IRS and demands your money NOW. Don’t think you’re the only one singled out for this tactic; aggressive, threatening phone scams occur regularly across the country. But, scamming also happens via email, U.S. mail or in person.
Since we all know what the other certainty in life is (death), maybe we shouldn’t be all that upset about the onset of tax season, right?
Whether it’s something as simple as picking a restaurant or as complex as deciding whether to have children, marriage requires lots of mutual decision-making.
Couples who tie the knot will have another choice to add to that growing list next tax season, as they can either file joint or separate returns. This choice can affect the amount of taxes they owe or the size of their refunds.
Here’s a closer look at these two options and how to determine which filing status is best for you and your spouse.
Although it comes around every spring, tax season tends to inflict the same headaches year after year. To reduce your stress — and maximize your refund — it’ll help to stay organized and be aware of recent changes to the tax code.
This content provided courtesy of TurboTax.
This article is for information purposes only. Please consult a qualified tax professional for tax advice on your specific situation.
You could be leaving hundreds of dollars on the table when you file your tax return this year. From magazines to medical insurance premiums, little-known tax deductions and credits could make tax day a happier one for your family this year.
