Taxes

Discover everything you need to know about taxes: how to file them, what happens if you don’t, how they affect your credit score and more.

Does Paying Taxes Late Affect Credit?

Does Paying Taxes Late Affect Credit?

Does Paying Taxes Late Affect Credit?

It’s a good thing to be punctual, especially when it comes to your finances. Your credit score relies heavily on your payment history, so developing a habit of making on-time payments helps you improve and maintain high credit scores. While tax information isn’t generally reported to credit bureaus, missing the deadline for paying the IRS could result in... Read More

What Happens if You Lie on Your Taxes?

What Happens if You Lie on Your Taxes?

What Happens if You Lie on Your Taxes?

According to the IRS, the average tax refund in 2018 was $3,103. When you hear that number and then do your own taxes, you expect your refund to be close to that amount. If it’s not–or worse, you owe money–it can be tempting to fudge the numbers to increase your refund. However, misrepresenting yourself on your... Read More

Tax Breaks for Taking Care of Aging Parents

Tax Breaks for Taking Care of Aging Parents

Tax Breaks for Taking Care of Aging Parents

  In 2015, 43.5 million Americans provided unpaid care to an adult or child. Of those caring for a family member, almost half were caring for a parent or parent-in-law. It can be a privilege to get to spend this dedicated time with an older parent. However, it’s also a huge responsibility and takes a... Read More

October 15 Tax Filing Deadline

October 15 Tax Filing Deadline

October 15 Tax Filing Deadline

The annual deadline to file your federal income tax return is typically April 15. If you miss this deadline, there can be consequences, but the type of penalty depends on several circumstances, including: Did you request a tax extension? Do you qualify for a refund? Do you owe taxes? Here’s everything you need to know... Read More

Smart Ways to Use Your Tax Return This Year

Smart Ways to Use Your Tax Return This Year

Smart Ways to Use Your Tax Return This Year

You prepped early and thoroughly for tax season and beat the rush to submit your paperwork to the IRS. Now it’s just a matter of waiting for that “free money” to show up in your account. But taxpayers should be aware that the latest data from the IRS shows that tax refund totals are, on... Read More

Understanding How Solar Tax Credits Work

Understanding How Solar Tax Credits Work

Understanding How Solar Tax Credits Work

The U.S has been grappling with the idea of making renewable energy the primary source of power for homes and industries. Solar energy is by far one of the most popular in the market today. As an incentive to ensure that as many homeowners as possible adopt the use of solar energy, the federal government... Read More

Understanding What to Do with Unfiled Tax Returns

Understanding What to Do with Unfiled Tax Returns

Understanding What to Do with Unfiled Tax Returns

The IRS has taken down Al Capone, Wesley Snipes, Martha Stewart and other big names in the past for tax fraud. The federal government takes taxes very seriously. Not filing your tax returns is a serious offense. Although there won’t be a nationwide manhunt for late returns, you may still see some hefty fines and... Read More

What You Need to Know About Filing Taxes Jointly

What You Need to Know About Filing Taxes Jointly

What You Need to Know About Filing Taxes Jointly

As a married couple, you and your spouse have the option of filing taxes jointly or separately. The IRS does encourage you to file your income tax returns jointly by providing a host of resources and incentives to do so. There are a lot of advantages to filing taxes jointly. However, there are also some... Read More

The Ultimate How-To on Filing Your Taxes for Free

The Ultimate How-To on Filing Your Taxes for Free

The Ultimate How-To on Filing Your Taxes for Free

If you bristle at the idea of having to pay to file your taxes, you’ll be happy to know that the IRS found 70% of all taxpayers are eligible to prepare and file their federal tax returns for free. And a variety of free federal and state tax solutions can help qualifying taxpayers file their 2018 tax returns without... Read More

18 Ways the New Tax Laws Affect You

18 Ways the New Tax Laws Affect You

18 Ways the New Tax Laws Affect You

The final 2017 Tax Cuts and Jobs Act legislation passed December 20, 2017, and was signed into law on January 3, 2018. It ended up being less scary than many Americans had feared. And while the biggest impact may yet prove to be on businesses, some important changes affect you and the majority of other... Read More

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