Need More Time to File Your Taxes?

Need More Time to File Your Taxes? The April 18 tax deadline is coming up. 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: 1. Use IRS Free File to file an extension. You can use… Read More

Reporting Health Care Coverage, Exemptions and Payments

Reporting Health Care Coverage, Exemptions and Payments When you file your federal tax return, you will need to report minimum essential coverage, and report or claim a health care coverage exemption for any month without coverage for everyone on your tax return. When you file your tax return, you are required to make a payment… Read More

Tax Time Guide: Good Records Key to Claiming Gifts to Charity

Tax Time Guide: Good Records Key to Claiming Gifts to Charity IRS YouTube Videos: Charitable Contributions: English | Spanish | ASL Exempt Organizations Select Check: English | Spanish | ASL WASHINGTON ― The Internal Revenue Service today reminded taxpayers planning to claim charitable donations to make sure they have the records they need before filing… Read More

Six Tips You Should Know about Employee Business Expenses

Six Tips You Should Know about Employee Business Expenses If you paid for work-related expenses out of your own pocket, you may be able to deduct those costs. In most cases, you can claim allowable expenses if you itemize on IRS Schedule A, Itemized Deductions. You can deduct the amount that is more than two… Read More

April 1 Deadline to Take Required Retirement Plan Distributions

Many Retirees Face April 1 Deadline to Take Required Retirement Plan Distributions WASHINGTON — The Internal Revenue Service today reminded taxpayers who turned 70½ during 2015 that in most cases they must start receiving required minimum distributions (RMDs) from Individual Retirement Accounts (IRAs) and workplace retirement plans by Friday, April 1, 2016. The April 1… Read More

Can’t Pay Taxes On Time? Here Are Five Tips

Can’t Pay Taxes On Time? Here Are Five Tips The IRS urges you to file on time even if you can’t pay what you owe. This saves you from potentially paying a penalty for a late filed return. Here is what to do if you can’t pay all your taxes by the due date. File… Read More

Five Tax Tips about Hobbies that Earn Income

Five Tax Tips about Hobbies that Earn Income Español Millions of people enjoy hobbies. They can also be a source of income. Some of these types of hobbies include stamp or coin collecting, craft making and horse breeding. You must report any income you get from a hobby on your tax return. How you report… Read More

News Release: FTB says Most Tax Refunds Arrive Within 12 Business Days; Some Take Longer as FTB Seeks To Prevent Tax Theft, Fraud

Most Tax Refunds Arrive Within 12 Business Days; Some Take Longer as FTB Seeks To Prevent Tax Theft, Fraud Sacramento – The Franchise Tax Board (FTB) today reported that most tax refunds are arriving within 12 business days for taxpayers who file electronically and request direct deposit. However, some refunds can take significantly longer as… Read More

Six Tips You Should Know about Employee Business Expenses

  Six Tips You Should Know about Employee Business Expenses Español If you paid for work-related expenses out of your own pocket, you may be able to deduct those costs. In most cases, you claim allowable expenses on Schedule A, Itemized Deductions. Here are six tax tips that you should know about this deduction. Ordinary… Read More

IRS Issues the Top 10 Tax Time Tips

IRS Issues the Top 10 Tax Time Tips Español With April 15 right around the corner, the IRS wants to make sure you get the help you need at tax time. Make things easier by not waiting until the last minute. Here are the top 10 tax time tips: Gather your records.  Make sure you… Read More