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Most taxpayers already know about Turbo Tax, but in case you have not, then you need to find a way to learn more about the software as soon as possible. The free version of the software will save you a lot of money in accounting fees. It will help you calculate how much you are required to pay as well as the tax refund owed to you by the IRS.The main disadvantage of hiring a tax accountant to do
Now that the tax season is here, the fears about fraud is more punctuated than ever before. Taxpayers were shocked when they heard about TurboTax suspending state tax filings over fraud concerns. Imagine getting the news that someone else filed your tax returns and claimed your hefty tax refund. Fortunately, this problem only affected the state filings, not federal taxes.Well, this has changed. T
Unfortunately, filing taxes could prove more difficult for taxpayers this tax year. Individuals have to worry about the requirements set forth by the Affordable Care Act (ACA). And Taxpayers will receive less support from the IRS thanks to scaled back support by phone. Plus, the deadline is fast approaching at the moment. But don’t get too nervous.One thing to keep in mind is that sales tax
It’s always difficult to be caught up in a mad rush at the end of the tax season to get your federal taxes filed on-time. Filing at the last minute is bound to be particularly stressful this year due to the scaled back phone support from the IRS and the additional requirements set by the Affordable Care Act. Here are some tax changes to take note of now so you are not surprised down the str
According to a recent Government Accountability Office report, the IRS continues to leave its vast computer systems without proper security. Private taxpayer data is vulnerable to hackers, fraudsters and former IRS employees. This GAO report tells of significant deficiencies relating to the financial reporting systems. Millions of Americans are rightfully concerned because they are required by la
In Salt Lake City, designer Jenny Wecker collected pledges in the mount of $42,000 when she used Kickstarter to test market a diaper bag she had created. She received over 300 orders. Previously, she had handmade her product and marketed it on Instagram.She indicated that she and her husband never considered the tax impact of such success. Apparently, other entrepreneurs are in the same position
Being careful is import when completing your taxes and this year should make you a little bit nervous if you are preparing your taxes yourself. Even professionals are making a lot of mistakes according to the Government Accountability Office.In a study done in 2014, 10% of preparers did not calculate a normal tax return correctly. The final error rates for tax preparation according to the study w
There are many factors online tax preparers need to figure in when choosing the correct option for them to file their taxes in 2015. A few of these concerns are safety, tools provided by the various companies, and pricing.TurboTax 2015 has provided a tremendous example of safety measures when it comes to your online tax preparation. Regrettably, many companies do not take the same measures that T
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