Tax Help

What You Need To Know About the May 17 2021 IRS Tax Filing Deadline

This year, the IRS extended the traditional tax-filing deadline from April 15 to May 17, 2021 giving most taxpayers an extra month to prepare their filings amid a slew of pandemic-related policy changes included in the $1.9 trillion American Rescue Plan.  As of May 7, the IRS had processed about 116 million returns. By comparison,...

Free Tax Help for Veterans

The Internal Revenue Service is committed to helping all Veterans. They work with community and government partners to provide timely federal tax-related information to Veterans about tax credits and benefits, free tax preparation, financial education and asset-building opportunities available to Veterans. The IRS Approach The Stakeholder Partnerships, Education and Communication (SPEC) office within the Wage &...

Turbo Tax and Back Taxes

If you owe back taxes you may be thinking you can file them using Turbo tax software, and you can, but there is a catch. Below are the basic steps for preparing for and submitting back tax filings, however be aware that it is often the case that you may have incurred penalties and interest...

The IRS Finally Made a Decision on How to Tax 2020 Unemployment Income

IRS will recalculate taxes on 2020 unemployment benefits and start issuing refunds in May Normally, unemployment compensation is taxable. However, a recent law change allows certain recipients to not pay tax on a portion of their 2020 unemployment compensation. Under the new law, taxpayers who earned less than $150,000 in modified adjusted gross income can exclude...