First Time Home Buyer Tax Credit

Everyone dreams of homeownership once in a lifetime. But the down payments and closing costs require thousands of dollars. To achieve this, people search for incentives, tax credits, or state grants to afford the place in a better way. Are you also looking for the first-time homebuyer tax credit? You

How does Refund Taxes work?

After filing your taxes for 2020, you must be consciously waiting for your refund. As a general rule of thumb, the Internal Revenue Service (IRS) refunds nine out of ten taxpayers within 21 days if you file electronically and 6 weeks if you file by mail. However, this year you

When Will the IRS Accept 2021 Tax Returns?

Generally, the tax season in the U.S is from January 1 to April 15 of each year. If the last date falls on weekends or holidays, it is moved to the next business day. At this time, individual taxpayers prepare their previous year’s financial statements and reports and submit them

Calculating Capital Gains Tax on Sales of Property

If you ever bought assets at low cost and now they are worth more than what you paid for, you might be preparing to sell those assets. It feels incredible to get a high price for your investments. After all, the right property can be a source of revenue that

What is the 1040 extension?

Every beginning of the year, until the month of April, we must comply with our tax liability of filing and paying our federal taxes. But many times, the deadline is getting closer and we still don’t have our taxes ready, this is when we ask ourselves: what can we do?

How to find out if I owe the IRS money, online?

When tax season is coming, we know that we should keep our money to pay our IRS debts. Paying our taxes is a responsibility that we have as citizens and we must comply with our tax liability. Owing money to the IRS may become a situation that would affect our

How much interest does the IRS charge?

When we don’t fill out our tax returns or don’t pay on time, the Internal Revenue Service penalizes us and we must pay a penalty for non-compliance. It also works as an incentive for all taxpayers to fill out and pay their taxes on time since if they do not,

Are Social Security Benefits taxed after age 66?

Throughout our lives, and depending on the jobs we have, we contribute to Social Security aspiring for benefits when we are seniors. Thanks to all the work we did in our youth, we will receive our retirement benefits. However, a very common question is whether we should pay taxes on

How can I get a discount on TurboTax?

Currently, there are a large number of websites that offer tools from calculators that help you estimate how much you could pay in taxes, to more specialized software services that provide you with personalized advice to fill out your tax returns. Intuit is a financial software company and one of

How do I contact the IRS customer service?

In all the countries of the modern world, taxes have been created as a form of income to the State, and for this purpose, governments should create an institution so they can administer this central activity. In our country, this institution is called the Internal Revenue Service (IRS), in addition