Tag: taxes

Don’t Ignore Tax Debt — Call the IRS, Instead

Every year on April 15, most people in the United States who earned income in the prior year must file their taxes. Neglecting to do so can result in a hefty tax bill, complete with fines and late fees. If you find yourself or your loved one in a situation where you owe money to Uncle Sam, the worst thing you can do is ignore the issue. The longer you wait, the more the problem will grow. Consider the following suggestions.

Avoid W-4 Mistakes With These Tips

When you get a job, your new employer will ask you to fill out an Employee’s Withholding Certificate (W-4) for tax purposes. Your answers on that form will determine how much money your new employer will withhold from your paycheck for tax purposes. Filling it out incorrectly could result in a big surprise at the end of the year when it’s time to file with the IRS.

How to Track Your Tax Refund

Once you file your taxes, it can feel like forever before you receive your refund. The Internal Revenue Service (IRS) states processing refunds can take up to three weeks, but you can track your return’s movement through the system. All you have to do is visit the official IRS website, give them a bit of information, and the government will tell you the status of your refund.

Here’s When Your 2022 Tax Refund Will Arrive

By the middle of April each year, every taxpayer in the United States who earned over a certain threshold the previous year must file a tax return. Once received, the Internal Revenue Service (IRS) begins processing each return and issues a refund to those due to receive one. Processing times vary depending on several factors. For instance, during the 2020 tax cycle, shortages in staffing and changes in tax laws caused a backlog, resulting in longer wait times. Typically, the IRS aims to process and pay returns in 21 days or less from when they accept your return.