Gas taxes are on the rise
However, Illinois is one of the states that increased dramatically. The motor fuel tax (such as gasoline, gasohol, and compressed natural gas) doubled from 19 cents per gallon to a whopping 38 cents per gallon.
The diesel fuel tax (such as diesel fuel, liquefied natural gas, and liquefied petroleum gas) increased by 5 cents now making it 45.5 cents.
What’s the reason for the tax hike?
Continue reading “Illinois’ Gas Tax Doubles & What That Means For You”
It’s time for back-to-school deals!
Some states are going sales tax free for a weekend or full week in August. In comparison to sales tax ranging between 4% to 10% of your purchase, it means more bang for your buck.
What kind of deals can you get?
First off, you might wonder if this tax free weekend is limited to certain purchases. Each state is different but you can find out which purchases your state considers tax free.
However, you should be able to pick up the necessities. Continue reading “Which States Still Have Tax Free Weekends?”
The tax extension deadline for the 2019 tax season is approaching.
Be advised, Tuesday, October 15, 2019, isn’t just the extension deadline. It’s also the last day to e-file your tax return.
However, if you didn’t file an extension on the April 15 deadline, you may be subject to penalties depending on if you owe taxes to the IRS or not.
Can I still file an extension?
Unfortunately, you can no longer file an extension. The last day to have filed an extension was April 15, 2019; the original tax deadline. By filing Form 4868 (Application for Automatic Extension of Time To File U.S. Income Tax Return), the IRS grants you an extra six-months to file.
That being said, for tax returns who have an outstanding tax due to the IRS, that haven’t been paid, will be subject to penalties.
Do you have a tax due to the IRS?
Continue reading “When is the Tax Extension Deadline for 2019?”