If you're a newlywed who just got married this year you may be excited about starting your new life with your spouse. However, if you don't take the time to do a little tax planning you might get an unpleasant surprise at tax time. The good news is that most of these tax tips for newlyweds are fairly simple to implement so you won't have to take much time out of your newly married life to settle them.
Most taxpayers are familiar with the annual income tax filing deadline of April 15, but they may not be aware of a few other tax deadlines that occur every summer. These summer tax deadlines typically affect U.S. citizens who live outside the United States, those who receive tips, those who pay estimated taxes and those who have foreign accounts. If these circumstances do not apply to your situation you likely don't have to worry about your taxes until next April.
Editor’s Note: This post was originally published in May 2012 and has been updated for accuracy and comprehensiveness.
So, you and your spouse filed a joint tax return, but later you discover there are some major errors or even outright omissions that lead to a hefty tax bill. And here's the kicker: you had no clue about these mistakes when you signed the return. You might want to consider filing for innocent spouse relief.
If you’re the type of taxpayer who waits until the last minute to file a return you’re probably at a higher risk of making a common tax filing mistake than you’d think. When you’re under the pressure of trying to beat the deadline you’re far more likely to report incorrect information or make a math mistake while preparing your form. Here are six of the most common tax filing mistakes you’ll want to avoid this tax season.
Have you missed out on receiving an IRS income tax refund? If so, you might still be able to claim your money form the IRS. This is true, even if you haven't filed a tax return or if you've lost a refund check in the mail. Learning how to check the status of an IRS refund can help you reclaim some of your deserved income tax money.
It's true that celebrities get paid lots and lots of money but they sometimes get hit with lots and lots of tax penalties when they don't report their income properly. Over the years many famous people have gotten into trouble with the IRS usually over unpaid back taxes. Here are the top ten celebrity tax problems.
The IRS provides five different tax statuses for individuals to choose from when preparing their income tax returns. The key to choosing the best tax filing status for you is learning about the rules and regulations that apply to each status. Here are eight tips for picking your tax filing status.
Many tax deductions and credits have been extended through 2012. This means that taxpayers may be able to claim some additional credits on their tax returns for 2011. However, there may also be some additional taxes due on specific transactions this year so it's wise for taxpayers to find out about the following 12 tempting tax tips for 2012 in advance.
As tax time approaches taxpayers may be wondering if there are any options they can use to lower their income taxes. In order for any deduction to count for the tax year, it must have been made by December 31. Here are 6 tips to reduce your 2011 taxes.
If the tax deadline for last year passed you by you might think it's too late to file your return. The truth is you can file a tax return at any time even if the deadline has come and gone. However, the sooner you submit your return the better off you'll be. Here are five reasons to file delinquent tax returns to the IRS.
