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?”
Children are expensive, but luckily they can give you a break — a tax break of course.
With all of the changes that the 2018 tax year brings us, the Child Tax Credit (CTC) is one of them. Whether you’re a parent, grandparent, or guardian, when tax time comes around you can claim your dependents to your advantage.
Here’s what you need to know for this tax season.
Who qualifies for the CTC?
Unfortunately, you can’t just receive the CTC for just having a dependent. You have to meet certain requirements for your dependent to be a “qualifying child.” These are the following conditions they will need to meet: Continue reading “The Child Tax Credit Changes for Your 2018 Taxes!”
Are you starting on your 2018 tax return right now?
Your tax return may seem a bit off when you’re filing. The reason for this is the Tax Cuts and Jobs Act (TCJA) changes.
For on the go taxpayers and those who just need a break.
If you have a hectic schedule or just want to relax at home after a long day, filing your taxes online could be the best option for you. No need for standing in long lines for a tax accountant.
All you need to do is follow these few steps:
- Create an account
- Enter your tax information (which is conveniently available by clicking user-friendly tabs for your personal information, income, deductions, and credits)
- Submit your account for a PDF of your return to paper file to the IRS and/or state!
We’ll prepare your tax return as soon as possible. Keep in mind, taxpayers who have a refund for the 2018 tax year are not subject to any penalties at any point they decide to file. Just make sure you file within three years of the due date of your return to claim your refund. In this case, claim your refund by April 15, 2022.
However, taxpayers with a tax due to the IRS should have filed by the 2018 tax year deadline; April 17, 2019 to avoid tax penalties.
Check out the breakdown of the tax changes this year.
The following are no longer available for the 2018 tax year: Continue reading “How to File Your 2018 Taxes & Important Tax Changes”