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TurboTax has recently been in the news for the wrong reasons. ProPublica, a non-profit independent newsroom that conducts investigative journalism, has revealed that Intuit, the maker of TurboTax, deliberately made its Free File page not appear in search results. TurboTax actively added code to its Free File webpage so that search engines such as Google could not add it in its search results.  Earlier, ProPublica had reported how TurboTax was using misleading advertising and deceptive designing to lead…

Several new tax rules under the 2017 Tax Cuts and Jobs Act left many taxpayers confused about their tax withholdings. The standard deduction was doubled, existing tax credits were changed, and many deductions were eliminated. The changes impacted millions of Americans, many of whom could not get their withholding correct and ended up withholding much less from their paychecks, which lead them to owe to the IRS.  Usually, a taxpayer’s tax…

The IRS might never be able to have its own online tax filing service. The House Ways and Means Committee passed the Taxpayer First Act, which can make it illegal for the IRS to create its free tax filing software. The bill includes many other provisions, including improving the performance, customer service and organizational structure of the IRS. ProPublica shares how this one provision will impact for-profit online tax filing services, the IRS and the taxpayers:  “In one of…

A multitude of changes were made in the tax code under the Tax Cuts and Jobs Act. This was the first year taxpayers filed their tax returns under the new law. Even with the IRS introducing the new IRS Withholding Calculator where taxpayers can check how much to withhold from a paycheck, many are struggling to make sense of the tax changes and how they impact…

The IRS has been lacking sufficient funding for years, which has impacted many of its services. The agency is understaffed and is forced to do with archaic equipment. The IRS has repeatedly quoted lack of funding for its failure to provide proper and timely support to American taxpayers.  In order to modernize the equipment used by the agency staff and improve its services…

Having filed your return, you may be relieved that taxes are over for you this year. But there’s a major change coming later in the year that might result in a significant change in your paycheck withholdings.  The IRS is all set to make changes to how you adjust your withholdings for your paychecks. The goal is to make withholdings more accurate so that you do not underpay or overpay each year. This means that the IRS…

During the filing season, scammers file fraudulent tax returns using stolen identities to get a large refund. According to an audit report by the Treasury Inspector General for Tax Administration, “As of February 15, 2019, the IRS held 10.7 million tax returns with refunds totaling $57.9 billion with an Earned Income Tax Credit or Additional Child Tax Credit claim as…

Nobody wants an IRS audit, but there are situations that attract an audit. Most times, when the IRS detects an inaccuracy in a tax return, they send a notice or a letter to seek more information from the taxpayer. The word ‘notice’ may cause some to worry, but the IRS routinely sends notices to taxpayers to provide or ask for information. It is their top way of…

Numerous individuals judge the success of their tax planning by the size of the refund they receive. Although the amount of refund gained is one indication of how well you managed your money, it’s not the only indicator. Sometimes, it means you had been overpaying the IRS all year.   If you are unsure of how much you will owe in a year, you can be overpaying excessively through your withholdings. Withholding more than you owe might net you…

Filing your tax return late or paying late can lead to problems with the IRS. Though taxpayers can get an extension to file where they can file their tax return within six months from the filing deadline, it does not mean an extension to pay taxes. If taxes are not paid before the filing deadline, it can lead to IRS…

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