#tax help

[glassfullofsass]

Taxes 2024: glass's quick and gritty guide to free filing those bitches

By god I hate doing my taxes but what I hate more is paying money for someone to do them for me.

Here's the thing. If taking your W2s and property taxes to someone with the training and paying them $70 makes you feel better. Do it. BUT if you're stubborn and bitchy, you CAN do it yourself and if you're reading this post I'm going to make the assumption that your AGI is less than $79000 and therefore you qualify for free file. (and if you don't know what an AGI is then yes, you qualify).

It's honestly going to be okay. We will get through it together.

This guide is not going to be thorough, and while I will try to answer questions if you ask them, I'm not an expert: my knowledge comes from filing my own taxes for the fourth (fifth?) year in a row using the free file program and going through a number of life changes that I have to reflect on my taxes.

The post includes a link and screenshots. I will describe the bare minimum information of the images in Alt Text, but will not fully transcribe the full text as all the images will be from the IRS website which has accessibility options.

Here we go:

I want you to go to this page and then chose the first big blue button (unless you want it all in Spanish, then click on Spanish and I'll pray for you that it's all the same process)

If you are a brave, brave soul then take the fillable forms and be free, my children. I cannot help you there.

BUT if you chose the guided software options it's going to take you to these options

You may chose to browse options on your own. This does feel somewhat choose-your-own-adventure and I'm not your mother or your boss. HOWEVER. I implore you to take the guidance as far as you can. Chose the big blue button that says "Find Your Trusted Partner(s)" (very polycurious, if I may say).

This survey is meant to be straightforward. There is a little blue questionmark that opens to explain the filing statuses very clearly and in detail. Chose the right status for you, then some other questions will show up. Answer the questions that come up (again, this general page should be info that is straightforward. most of us should be able to answer the general questions with just what's in our heads), then click next when the questions are done.

Now, you will need to know your income for this page, which probably mean you need your W2s or whatever other forms you might have that reflect/summarize your 2023 income. You don't need to get into extreme detail, you just need totals. Worked a couple of jobs and have W2s for all of them? Add "box 1" from each W2 together, select the first box under "Income" and type in your total in the fillable box that opens.

Further down this page is space for adjustments to your income, so stuff about student loans and health savings would be helpful, but again this survey isn't about the nitty gritty. Round numbers are fine.

Once you're done here, you'll click next and then it'll ask you about the Earned Income Tax Credit which is really just about if you have kids or not. Answer that question, click next and BOOM

This is the only free file partner that I qualify for this year (again, life changes), but in previous years I have used HRBlock and Tax Slayer. All three sites have been guided similarly to this survey and as easy to use as can be possible given the US tax system.

Thus ends my guided portion, as going to 1040(.)com will show you a great deal of my personal info, but I will give you a few more notes:

Throughout the year, collect your tax forms/important papers in a safe, secure place that YOU WILL NOT FORGET. (preferably a safe or at least a heavy fireproof security box).

Once you get to the tax website you're going to use, you will need all those papers.

Start your filing early. I like to start when I get my W2s.

For one, you'll get everything done and then in April when someone, stressed and anxious, asks if you remember that taxes are due, you can smugly say you filed ages ago. For another, if you do run into significant issues, you have lots of time to resolve them.

Don't necessarily file super early. Sometimes congress does stuff that affects taxes as late as March. It's easier and less stressful to edit your pending forms than it is to file a correction.

When you have all the information in, look up the local and national news and see if there's anything going on regarding taxes. This year there's talk about extending the child tax credit. I haven't kept up with that because it doesn't apply to me, but it might be important to you. If there's nothing happening that might affect you, go ahead and file.

If you have a question, ask! Even the free file services have a help section

I lied, one last snip. This is from 1040. They have an FAQ section, and it's not just about the site itself. I have submitted questions to all three services I've used and all of them have answered me.

They won't hold your hand through every step, but if you have a specific question, they'll do their best to answer it.

You can also do a general internet search! "what this form?" and "do i need to include XYZ on my taxes" are all things i've found the answers for by searching them on duckduckgo

HRBlock has a huge amount of accessible information that I've used often.

I'll wrap here by just saying - if you get frustrated, save your work and walk away.

I called my employer's HR to ask something, waited a couple days then started an email to them, and realized the answer as I was writing the email.

The earlier you start, the more time you have to figure things out. You can do it. Good luck.

[masigl4179]

Tune in for part 3 of the latest #taxtipthursday series called "Attention Businesses: File on Time or Pay the Price!" Today we're talking about how your personal tax return may be delayed

[svtaxservices7]

SV Tax Services: Professional Tax Help You Can Trust

[fariscpa]

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[syriaccpa]

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[syriaccpataxaccounting]

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[mylighthouseco]

Why Consult with a Certified Financial Planner for Your Investment Goals?

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[jass22]

Navigating Colorado Payroll and Taxation: A Comprehensive Guide.

Subheadings:

Understanding Colorado Payroll Taxes

Navigating Colorado State Tax Filing

Internal Revenue Service in Colorado: What You Need to Know

Payroll Management in Colorado: Best Practices

Tax Dispute Resolution in Colorado: Your Options

Seeking Tax Help in Colorado: Resources and Assistance

Tax Resolution Services in Colorado: How They Can Help

Summary:

Navigating payroll and taxation in Colorado requires a comprehensive understanding of state-specific regulations and federal mandates. From managing payroll taxes to filing state taxes and resolving disputes, individuals and businesses must stay informed and compliant. This blog explores key aspects of Colorado payroll and taxation, providing insights into state tax filing, IRS operations, payroll management best practices, tax dispute resolution options, and available assistance services. Whether you're a taxpayer or a business owner, this guide aims to equip you with the knowledge needed to navigate Colorado's complex tax landscape effectively.

For personalized assistance with Colorado payroll and taxation matters, call [Pro Automations] now!

Understanding Colorado Payroll Taxes: Colorado imposes various payroll taxes, including state income tax, federal income tax, Social Security tax, and Medicare tax. Employers are responsible for withholding these taxes from employees' paychecks and remitting them to the appropriate tax authorities. Understanding the rates, thresholds, and filing requirements is essential for accurate payroll management.

Navigating Colorado State Tax Filing: Colorado residents must file state income tax returns annually, typically by April 15th. The Colorado Department of Revenue oversees state tax administration, and taxpayers can file online or by mail. Deductions, credits, and exemptions may impact the amount owed or refunded, making it crucial to understand applicable tax laws and regulations.

Internal Revenue Service in Colorado: What You Need to Know: The Internal Revenue Service (IRS) operates in Colorado, enforcing federal tax laws and providing taxpayer assistance. Taxpayers can access IRS services online, by phone, or in person at local IRS offices. Understanding IRS procedures, deadlines, and available resources can streamline federal tax compliance and resolution processes.

Payroll Management in Colorado: Best Practices: Effective payroll management involves accurate record-keeping, timely tax withholding, and compliance with state and federal regulations. Employers must stay updated on changes in tax laws and maintain meticulous payroll records to ensure accuracy and avoid penalties. Leveraging payroll software and consulting with tax professionals can streamline payroll processes and minimize compliance risks.

Tax Dispute Resolution in Colorado: Your Options: Taxpayers facing disputes with the Colorado Department of Revenue, or the IRS have various resolution options, including informal negotiations, appeals, and formal hearings. Understanding the dispute resolution process, gathering supporting documentation, and seeking professional assistance can increase the likelihood of a favorable outcome. Prompt action and compliance with deadlines are crucial when resolving tax disputes.

Seeking Tax Help in Colorado: Resources and Assistance: Colorado offers various resources and assistance programs to help taxpayers navigate complex tax issues. From free tax preparation services for low-income individuals to taxpayer advocacy services, accessing available support can alleviate financial burdens and ensure compliance with tax laws. Additionally, online resources, workshops, and seminars provide valuable information on tax-related topics.

Tax Resolution Services in Colorado: How They Can Help: Tax resolution services specialize in assisting taxpayers with resolving tax debts, audits, and other tax-related challenges. These professionals offer expertise in negotiating with tax authorities, developing repayment plans, and representing clients in disputes. By leveraging their knowledge and experience, taxpayers can effectively address tax issues and achieve favorable outcomes.

Conclusion:

Navigating Colorado's payroll and taxation landscape requires diligence, understanding, and access to relevant resources. Whether you're managing payroll for your business or filing taxes as an individual, staying informed about state and federal regulations is essential. By leveraging available assistance services, seeking professional guidance, and maintaining compliance with tax laws, you can navigate Colorado's tax environment with confidence and peace of mind.

[bigolbard]

Are @mcalistersdeli teas tax deductible? Asking for myself

[taxreliefservices]

Are you really an Innocent Spouse?

The IRS might think so!

But it won’t be easy !

You May Be Eligible!

You may request innocent spouse relief if:

You filed a joint return with your spouse

Your taxes were understated due to errors on your return

You didn't know about the errors

Errors that cause understated taxes include:

Unreported income

Incorrect deductions or credits

Incorrect values given for assets

When you file a joint tax return with your spouse, regardless of how you file, you are both responsible for the tax and any interest or penalty due.

This is true even if:

You later divorce

A divorce decree states that your spouse is responsible for the taxes

Your spouse earned all of the income

The IRS considers many facts about your situation before a decision is made.

You are not eligible for relief in any year when:

You signed an offer in compromise with the IRS

You signed a closing agreement with the IRS covering the same taxes

A court made a final decision denying you relief

You participated in a related court proceeding and didn't ask for relief

Types of Innocent Spouse Relief

When you apply for innocent spouse relief, review all types of relief if you are eligible. You don't have to request them separately.

Separation of Liability Relief

If your joint tax return understated the amount of taxes due and you are divorced, separated or no longer living with your spouse, you may be able to pay only your share of the understated taxes.

Equitable Relief

If you are not eligible for other forms of relief, you may get relief from paying taxes that your spouse understated or underpaid if it would be unfair to hold you responsible based on all the facts and circumstances.

Just another method to rid yourself of a martial liability if you qualify.

www.taxreliefservices.com

[justhereforthesherlock]

In my area the local libraries host a similar program run by the AARP. I've used them for years, they are great!

US Tax Season

Hi everyone!! Idk how many people this will reach, but I wanna post some resources for US residents since tax season is here. I’m a graduate taxation student who intends to work in family/small business/non profit tax.

If taxes are really intimidating to you I don’t blame you, they’ve been made super inaccessible and hard to learn about. There are some resources out there that are really worth looking into, which I would highly recommend!

If you want to file your taxes from home and made less than $73,000 from all sources of income this year, check out the IRS Free File page. There are options to fill out all tax forms yourself without auto calculations OR an even better option which is self guided free filing platforms with auto calculations. There are multiple services that can help with the self guided forms, I’d suggest finding the best fit for you. Some may offer free federal tax returns but need payment for state tax returns.

I’d also highly recommend checking out the IRS VITA (Volunteer Income Tax Assistance) program which I will be volunteering with starting next week. It’s a program ran by volunteers who have to get certified and take tests to be able to file basic/slightly advanced tax returns for individuals who made under $60,000 from all sources of income in the previous year. It’s an in person program where you’d bring all your tax forms and sit down with a volunteer who would help you file your tax return. The website linked above has another link to look for volunteer centers in your area. Some locations may need an appointment, but as far as I know most accept walk ins.

For both of these you’ll need all tax forms from the previous year (W2s, 1099s, 1098Ts, etc). If you don’t know if you’ll need it, I’d bring it as opposed to not. I don’t know how many questions I can answer because I’m still fairly new to this, but I am certified to prepare tax returns for US residents. If you have any questions feel free to ask!

[mitsdedistance]

[howardtaxprepllc]

Will The IRS Accept Your "Reason Why" & Waive Penalties?

Although not often discussed, in some cases, the IRS can waive penalties assessed against you or your business if there was “reasonable cause” for your actions.

Photo by Ketut Subiyanto on Pexels.com In our South Loop of Chicago Tax Preparation office, and our Homewood, Il tax preparation office, we often come across taxpayers who haven’t filed their tax returns in quite some time. However, once a taxpayer chooses to file back tax returns, the IRS and the state Department of Revenue will assess the tax due along with penalties and interest. Although not…