This year, Tax Day is on Monday, April 18. That means your federal returns don't have to be filed or postmarked until that date. However, this year, if you're expecting a return, it might benefit you to file your tax return early. General Benefits to Filing Your Tax Return Early Completing your tax return early can protect you against fraud. How? When someone fraudulently files a tax return using your Social Security number, they can get … [Read more...]
How to talk to a live person at the IRS
I have seen a lot of questions recently about how to navigate the IRS's automated phone system so you can talk to a live person at the IRS. While automated systems can be great, sometimes you just need to talk to a human, and it can be hard to figure that out through the IRS's system. Recently, I came across some great information about how to get a live person at the IRS and wanted to make it easily available to you. Remember, IRS phone … [Read more...]
Taxes When You and Your Spouse Lived in Different States
I've been working on our household tax returns, and now that I'm married, I took on the task of filing for the two of us, figuring that we would file as married filing jointly. My taxes have always been more complicated than my husband's, so I was happy to take on the task. And then I ran into trouble. He and I lived in separate states for the first three months of the year. And you know what gets complicated? Filing taxes when you and your … [Read more...]
What Financial Records Should I Keep?
One of my projects this month has been to clean out my filing cabinet. I was so proud of myself for getting my files into some semblance of an order, but now I realize that I've kept way too many things and I need to sort through and shred. But what financial records to keep? Financial Records to Keep Forever Not surprisingly, there are some records you shouldn't get rid of, but this list is pretty short. You want to keep records of any paid … [Read more...]
How to Report Foreign Pension Income
Do you know how to report foreign income on your federal tax returns? The Internal Revenue Service has specific requirements for reporting this type of income on your IRS tax forms. What follows is NOT tax advice--you will need to consult a trained tax professional to discuss how you should approach the latest tax laws. You should also know that tax law changes every year and you’ll need a tax professional or an IRS representative to help you … [Read more...]