Tag: tax return

Important Dates For Filing Your Tax Return Forms

Important Dates For Filing Your 2013 Tax Return Forms

As the year comes to an end, it is important to start thinking about filing your 2013 taxes. While it is true that taxes are not due on the first of the year, it is still important to understand the important dates on the IRS calendar for 2014. There are a few dates you should know.

January

On the 15th all estimated taxes for the last quarter of 2013 are due. Also the 31st is the deadline for employers to send out tax information. This is also the deadline to file your 2013 tax return forms without penalty if you did not pay your taxes for the previous year.

March

The 17th is the date when corporations must file their taxes by.

April

The 15th is recognized as tax day for individuals and partnerships.

June 16th

If you got an extension on your individual tax return, then this is the date it is due. This only applies to military personnel and people traveling abroad.

September

The 15th is the deadline for business extensions on tax returns to be filed.

October 15th

This is the due date for individuals who were granted a 6 month extension on their tax returns.

Keep in mind that these are only dates that are specifically related to fling your 2013 tax return forms. There will be other dates you will want to keep in mind with your taxes and for these you can turn to the IRS website. Here you will find all the information you need as well as great resources for ensuring you pay your taxes correctly.

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The Government Shutdown Will Delay The Start Of The January Tax Season

Delay The Start Of The January Tax Season

The government shutdown will have an effect on the tax season in 2014. There could be a one to two week delay on filling your 2013 tax return forms as a direct result of the government shut down in 2013.

The IRS lost sixteen days of work during the shutdown which came at a time when the IRS is typically very busy preparing for the upcoming rush of the tax season in January. Loosing nearly three weeks of work in the fall, is very difficult to make up before January.

Day 093/365 - Tax Time Phat Cash!
Day 093/365 – Tax Time Phat Cash! (Photo credit: Great Beyond)

They will not accept or process any returns, online or in paper, until January 28 to February 4th. This falls at least one week later than the typical yearly start of January 21. You can send in your paper 2013 tax return forms early but they will not look at them until opening day, and you can not file an online form at all until the date they open for the season.

The IRS is doing everything they can to make the delay shorter but the new bill has changed many forms and these changes take time.

You can still prepare your tax return from your end as you always have, as long as you have current software as there are many updates that come with the new bill. You can also prepare with an adviser in advance so you will be prepared on the first day the IRS will take the 2013 tax forms.

It should also be noted though, that the filing deadline for tax payer remains the same, April 15. So there is a shorter season all around.

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Some Useful Tax Software Programs to File your Taxes Easily and Quickly

Some Useful Tax Software Programs to File your Taxes Easily and Quickly

If you want to file an income tax return and are wondering how to do your own taxes online then you can opt for e-tax filing which is a simple and easy way to file your taxes. With the convenience and comfort of your home, you can file IRS tax forms. Online tax preparation services bring ease and convenience to the people. Users do not need any prior experience of filing returns and they can complete income tax returns easily and quickly with the help of a tax software program.

Day 093/365 - Tax Time Phat Cash!
Day 093/365 – Tax Time Phat Cash! (Photo credit: Great Beyond)

Turbo Tax:
It is one of the most preferred e-tax filing software programs which is recommended for newbies, small business owners, heavy investors and multi-income filers. If you are a newbie and do not know how to do your taxes online then this software will be best suited for you. Here are some features of Turbo Tax software.

Clean and intuitive interface.
Logical flow of processes.
Easy to comprehend learning resources for the beginners.
Offers high-level of autonomy.
Audit risk meter
Latest military edition for Army officials

H And R Block:
It is an elite piece of software to file your taxes online. It has logical workflows and that will simplify the process of tax filing. The software is recommended for heavy investors and newbies. Here are its features.

Section overviews containing useful information.
Several pages having embedded links.
Bookmarking system is well integrated.
In-person and round the clock support.
Latest print returns features.
Useful form finding tool.

TaxACT:
This e-filing software is recommended for college students, deal seekers and DIY filers. Following are some of the important features of TaxACT:

Import tax from the previous year feature.
Lowest price.
Stock assistance tools for entering stock information manually.
Best quality and comprehensive learning resources.
Mini-alerts.

TaxSlayer:
It is a well designed and one among the best e-filing tax software. Given below are its important features.

Life events guide.
Previous year comparison.
Gives you choice to handle processes on the major sections like income tax deductions.
Movement between sections for convenience of the users.

So, stop running from pillar to post when you need to file your taxes and stop wondering how to do your own taxes online as you can easily do it with the help of several user-friendly e-filing software. By using this software you can file your tax returns quickly and easily even if you are a newbie and filing your tax for the first time.

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Tax Carnival Ecstasy – May 9, 2013

Online Investing?
Online Investing? (Photo credit: Monkey Mash Button)

Welcome to the May 9, 2013 edition of Tax Carnival Ecstasy. We begin with a post from James Powell on credit and benefit changes for 2013 that is quite interesting. Bill Smith looks at how TurboTax has changed in the current year. And finally John Schmoll has a number of online brokers that he likes to use. Hope you enjoy all the articles, bookmark, share on your social sites, and come back real soon for more tax topics.

credits

James Powell presents Tax Credits and Benefits Changes 2013 – How They Will Affect You : Tax Credits posted at Tax Credits, saying, “This post will look at how the changes in tax credits will affect you in 2013.”

filing

Bill Smith presents Innovations For Turbo Tax 2013 posted at 2013 Taxes, saying, “Professional accounting can help business owners save time and resources, and the Turbo Tax 2013 CPA Select edition by Intuit may be the ideal solution for tax filing season.”

retirement

Jebelle presents LIFE is what you make it: HEALTH is WEALTH posted at LIFE is what you make it, saying, “earn even retired”

John Schmoll presents Online Brokerages I Use: OptionsHouse Review posted at Frugal Rules, saying, “There are many online brokerages to use as you look to invest in the stock market. The good ones are there to meet your needs and help make sure you’re doing what you can to be investing for things like retirement.”

tax law

Bill Smith presents Senate Bill On Internet Taxes Passes First Hurdle posted at FastSwings, saying, “Recently, the United States Senate passed a bill concerning Internet tax collection.”

taxes

Bill Smith presents Estimate Your Tax Refund With The Free TurboTax Taxcaster posted at 2013 Taxes, saying, “Tax time is drawing near and like most other Americans, you need to file and prepare your taxes to avoid penalties and late fees from the Internal Revenue Service.”

tips

Bill Smith presents The Benefits Of TurboTax 2013 posted at 2013 Taxes, saying, “When you are planning to file your income tax return, you want simplicity, accuracy, and options. You will have these benefits and more with TurboTax 2013.”

That concludes this edition. Submit your blog article to the next edition of tax carnival ecstasy using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

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Tax Return Forms And Filing IRS Taxes

Tax Return Forms And Filing IRS Taxes

Tax time can be an incredibly hectic time for every individual of taxing age in the United States and other countries. There are forms aplenty for every type of deduction, job, withholding, and pay out and understanding some of the basics is the best way to get your taxes off to the right start. Using a system like TurboTax 2013 can be helpful, but a working knowledge of what tax return forms to fill out is still necessary to get the maximum refund.

Paying taxes is required for both citizens and...
Paying taxes is required for both citizens and non-citizens. (Photo credit: Wikipedia)

The first and most common forms are the 1040 and the 1040 EZ. The 1040 is the basic form that most tax payers use to complete their income taxes. These forms cover anything from income, taxes withheld, charitable donations, scholarships and grants, life insurance, gambling proceeds, child support, and more. This form was designed to be the blanket form for most tax payers to help speed up and simplify the process. This is the form that most are going to be working from when filing taxes and as such it is important to be well versed in the 1040. The 1040 EZ is a simplified version of the 1040 that is often used by workers that are either under the age of 18 or that do not have any dependents or households to claim. This form has basic information like income, taxes withheld, and any untaxed income that workers may have gotten over the course of the year.

A 1040 Schedule A is an individual tax return that has a list for itemized deductions. These deductions can be any range of things from medical bills, to work expenses, to charitable donations, and many more. If filers are at all unsure of what deductions they can count it is important that they check with a tax professional. Schedule B is a form that covers the interest on bank accounts and ordinary dividends. This form is generally only needed for those that have investments. Schedule C is profit or loss from businesses that are personally owned and will likely not be needed for all of those individuals filing. Schedule D is capital gains and losses in any investing or financial ventures that filers have partaken in over the course of the year. This form is again not necessary for every individual filing. The Last Schedule is Schedule E, this is for supplemental income or loss that was incurred through the course of the year. Most tax services will include Schedules A through E in the typical filing.

Form 1099 is for income from an employer that was not taxed at the time of payment, a 2848 is for those that are using their power of attorney to file for another individual, form 2553 is for those that are filing for a small business or corporation, and form 1065 is for married or partnered couples that are filing a joint return. A complete list of forms is available on the IRS website with brief descriptions of the function of each. If at any time it becomes difficult to complete your tax return or to understand what is being filled out, it may be necessary to talk to a tax professional.

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