The Tax Deadline is Almost Here..and Youre Still Missing A W-2?
Most employers are required to supply their employees with W-2 forms by Jan. 31, however, sometimes extenuating circumstances prevent that from happening. If this describes your situation, there's no need to panic. Here’s what the IRS instructs you to do: Contact your employer. You should first ask your employer to give you a copy of your W-2. You’ll also need this form from any former employer you worked for during the year. If employers send the form to you, be sure they h
The Clock is Ticking: Less than 30 Days Until Tax Deadline
You don't have to file your state and federal income taxes until April 17 this year. With that deadline less than a month away, roughly 60% of Americans have yet to file. Apperently, we are a nation of procrastinators. If you are one of those in the majority waiting until the last minute, you could run into headaches, expenses and other problems. Here are a few issues to consider: 1) You'll have less time to come up with any money owed to the IRS Many people are blindsided
Avoid Bad Advice: "Tax Tips" Misconceptions. Part 1
The most commonly prescribed flawed tax advice is most often not given with any malicious intent. That being said, isn't the proverbial road to hell paved with good intentions? Let's go down that road and repair a few potholes you're likely to encounter. Pothole #1: "Get an extension...you have more time to pay your taxes." Why it’s flawed: It’s dead wrong. Getting an extension gets you more time to file, not more time to pay. If an extension meant you didn’t have to pay you
The IRS warns of Phishing Scams (dont take the bait!)
During tax season the IRS takes extra measure to warn citizens of the increased danger of Phishing. If you aren't aware of what phishing is, the IRS defines it as " a scam typically carried out through unsolicited email and/or websites that pose as legitimate sites and lure unsuspecting victims to provide personal and financial information." In recent years e-mail phishing schemes have grown dramatically, targeting both taxpayers and tax preparers. Ultimately, this has lead
