If you need more time to file your taxes, you can get an automatic six-month extension from the IRS. Here are five things to know about filing an extension:
Splurging on a new iPad or subscription to GlossyBox might be tempting when your tax refund shows up. But before you start hitting the buy button, consider using some of the money to protect what you already have.
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ACCOUNTING method that reflects an equal amount of wear and tear during each period of an ASSET’S useful life. For instance, the annual STRAIGHT-LINE DEPRECIATION of a $2,500 asset expected to last five years is $500.
The Tax Return Identity Theft Protection Act of 2016would strengthen the existing penalties for identity thieves, establish tougher sentences for crimes against vulnerable and frequently targeted groups, and clarify the state-of-mind proof requirement that has prevented some identity thieves from being held accountable.
(Bloomberg) A lot of Americans feel like they’re getting cheated at tax time. In a Pew Research Center poll last year, 61 percent said it bothered them “a lot” that “some wealthy people don’t pay their fair share.”
You get three extra days to gather your paperwork and file your federal tax return in 2016. The tax deadline is April 18. You can thank Washington, D.C., for the gift. Washington will celebrate Emancipation Day on April 15.
Emancipation Day typically is celebrated on April 16. It’s the day President Abraham Lincoln signed into law a bill ending slavery in Washington, D.C. April 16 falls on a Saturday in 2016, so Emancipation Day will be celebrated on April 15. And Tax Day will be pushed back to April 18.
If you’re a self-insured employer, learn about your annual information reporting responsibilities under the health care law.
Most individuals that are in business for themselves, such as SOLE PROPRIETORS, PARTNERS or independent contractor, are subject to self employment taxes. The taxes provide coverage for the self-employed individual for social security (OASDI) and Medicare benefits (HI) similar to the taxes withheld by employers from wages it pays the employees.
There’s always a massive bout of procrastination across the U.S. in the weeks leading up to Tax Day, which is April 18 this year. This foot-dragging has been called an American tradition, up there with not saving enough for retirement and fantasizing about what we’d do if we won the lottery.