The IRS is observing a holiday. Tax liens are reported to the major credit bureaus, and are considered very negative information so your credit scores can drop significantly as a result.
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What are my chances of getting a refund?
Hardage said with the increase in identity theft past year, the IRS and state government are requiring more people than usual to verify their identities. The latest report shows it caught more than 1 million suspicious returns in 2013 – totaling $8 billion dollars.
The IRS will never ask for money over the phone, you will always get a bill in the mail before anything else. “Both the taxpayer and the IRS would benefit from having all necessary forms readily accessible via the Internet”.
Try IRS Free File. The quickest way to a refund is through direct deposit.
The IRS created the VITA program in 2010, and it now sponsors the program across the country, offering free tax preparation for citizens with lower incomes.
“Nine out of 10 people will get their refund in 21 days”, Dobzinski added.
The software is free to those who qualify. The e-file system is free to individuals and families who make less than $62,000 a year. Seventy percent of the nation’s taxpayers are eligible for IRS Free File.
If you’re doing your own taxes, Neal says there are a few deductions people tend to forget about.
Taxpayers needing last-minute help with filing a return can contact the Internal Revenue Service at (800) 829-1040.
How do I comply with the federal Affordable Care Act or ACA? .
Taxpayers who pay as much as they can by the due date can also reduce the overall amount that would be subject to penalty and interest charges. You can also set up payment plans with the IRS or pay with a credit card. The IRS has additional information about these forms in IRS.gov/aca.
Arizona residents, along with everyone else in the country, have a little extra time to file their taxes this year. See a list and explanation here.
“They don’t have to invest in computers, they don’t have to invest in a help line, they don’t have to invest in staff, we do all of that”, Hugo said.
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Consider a tax refund donation to charity. Anyone using this online tool receives instant confirmation that their payment has been submitted and they do not have to file a Form 4868. In other words, taxpayers would have a lot less to worry about when it comes to leaving something off their forms or making a mistake that could get them audited-a financial nightmare.
