Your Complete Tax Resource Center

Everything you need to know about deductions, deadlines, filing, refunds & more

The Complete Last-Minute Tax Guide

By Gabrielle Olya

Old people, tax return and home banking.

The 7 Signs You Need To File a Tax Extension

By John Csiszar

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What To Do After You File For a Tax Extension

By Jordan Rosenfeld

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The Common Mistakes People Make When Filing a Tax Extension

By Heather Taylor

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Do You Have To Pay Taxes on Your Retirement Income? It Depends

By Jenny Rose Spaudo

GET THE INFORMATION YOU NEED

ORGANIZE YOUR DOCUMENTS

MARK YOUR CALENDAR

CHECK YOUR WORK

WHAT ABOUT CRYPTO?

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What Do You Need To File Taxes? A List of All the Documents To Have

By Michael Keenan

Tax Schedule 2022: Every Date You Need To Know

By Andrew Lisa

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Tax Mistakes Everyone Makes and How To Avoid Them

By Beverly Bird

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If You Trade Crypto or NFTs, Here’s What You Need To Know About Tax Filing This Year

By Andrew Lisa

ESTIMATE YOUR RETURN

Make Your Money Work For You

DID YOU KNOW?

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Less Than 10% of Women Will Be Investing Their Tax Refunds: Here’s What They Plan To Do Instead

Most women (86%) anticipate that they will get a tax refund this year, with the majority (20%) expecting to get a refund of more than $3,000, according to a new GOBankingRates survey. With that large of a windfall, women should be planning ahead to make the most of that money — but many will be missing out on the opportunity to compound their wealth, as less than 10% plan to invest their refund. In this "Financially Savvy Female" column, we're chatting with Corbin Blackwell, senior financial planner at Betterment, about what women actually plan to do with their tax refunds, and why more…

By Gabrielle Olya

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Withholding Tax: How It Impacts Your Finances

Everyone loves to gripe about how much they hate paying taxes, yet millions of Americans look forward to tax season every year because of that sweet refund, which the government deposits right into their checking accounts as if it were income that they earned. That's because it is. Retirement: 7 Financial Habits That Improve Your Daily LifeFind Out: The Minimum Salary You Need To Be Happy in Every State Now that the country is settling back into life without pandemic stimulus payments, the tax refund will reclaim its title as the biggest financial windfall of the year for the average…

By Andrew Lisa

What Is the Earned Income Tax Credit and Why Does It Matter for Your Taxes?

The earliest early birds who filed their tax returns in January might have been frustrated to learn that, by law, the IRS can't issue their refunds until mid-February if they claimed the Earned Income Tax Credit. As vexing as that delay might be at the time, taxpayers who qualify for this lucrative credit will certainly find it to be well worth the wait when their refund arrives with a whole lot of extra padding. Learn: How To Tell If the US Economy Is Actually ImprovingTaxes 2022: Find Out Everything You Need To Know About Filing, Refunds and More What Is the…

By Andrew Lisa

Taxes 2022: Check the Status of Your Refund on the IRS App

The IRS2Go app is the Internal Revenue Service's official app. While you can't use it to submit your tax documents, IRS2Go does offer many features that simplify the filing process. See: What Income Level Is Considered Middle Class in Your State?Find: 10 Reasons You Should Claim Social Security Early Using the IRS2Go app, filers can check their refund status, make a tax payment and get free tax help. You can also use the app to follow the IRS on social media platforms and sign up to receive IRS tax tips by email. The app is free to download and available…

By Josephine Nesbit

Social Security: Benefit Recipients Should Know About These Two Credits This Tax Season

This year in particular, it's more important than ever to pay special attention to how you file your taxes; as a result of last year's stimulus bill, you could be entitled to credits and rebates you don't usually qualify for. These special credits are available to you even if you receive Social Security Supplemental Income and/or do not make enough money to file a tax return — or simply do not file one. Taxes in 2022: Find Out Everything You Need To Know About Filing, Refunds and MoreFind: When Social Security Runs Out: What the Program Will Look Like in…

By Georgina Tzanetos

Young Workers Could Get an $800 Tax Boost This Year — No Children Required

Thanks to the American Rescue Plan's expansion of the earned income tax credit (EITC), young workers without children could see an extra tax boost this year. The EITC is the largest refundable tax credit for low- to moderate-income families, according to the Internal Revenue Service. See: Child and Dependent Care Credit Can Add Up to $8,000 — Here's How To Claim the Money on Your Taxes Find: Top Tips for Painless Tax Prep Thirty-seven percent of Americans ages 19 to 24 without dependent children are now eligible to receive the credit, with an average boost of $820, according to a…

By Josephine Nesbit

IN THE NEWS

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IRS Revises Child Tax Credit Guidance: Learn What’s New for 2022 Tax Filing

The IRS recently revised the 2021 Child Tax Credit and Advance Child Tax Credit Payments Frequently Asked Questions page on its website. With these changes, Publication 972, Child Tax Credit, is obsolete. Taxpayers should use Schedule 8812 (Form 1040) to calculate child tax credits and report advance child tax credits received in 2021, the IRS stated. See: Child Tax Credit Payments Will Probably Lower Your Tax Refund Amount — Here's WhyFind: Child Tax Credit — I Received Money, But Don't Usually Submit a Return — Do I Need to File Taxes This Year? The revisions address topics B, C and…

By Dawn Allcot

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These Taxpayers Can Get 50% of Their Child Care Expenses Refunded — Here’s How

The child and dependent care credit is just one of the tax programs expanded for the 2021 tax year. That means more families and individuals will qualify for the credit than ever before, and the credit could put more money back into taxpayers' pockets than it has in the past. See: 5 Presidents Who Raised Taxes the Most, and 5 Who Lowered Them Find: Taxes 2022: Tax Breaks for Filers over 50 The IRS has issued a "filing season reminder": If you paid for the care of a child ages 12 or younger — or another person who was mentally…

By Dawn Allcot

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Why a Tiny Tax Refund Is Good for Your Finances — and How To Make It Happen

In the first tax season since the pandemic payments stopped coming, the theme for 2022 must be that bigger tax refunds are always better, right? Not necessarily. Advice: 3 Tricky Tax Filing Issues — And How To Handle ThemTax Day 2022: When Are the First and Last Days To File? According to a new study from GOBankingRates, nearly 28% of the taxpaying public expects to get no refund at all this year or a small refund worth $500 or less. Believe it or not, they're probably in much better shape than the nearly 16% who expect a windfall of more than $3,000….

By Karen Doyle

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IRS Urges Taxpayers to Have Refunds Direct Deposited: Here's Why

The Internal Revenue Service recently issued a news release urging taxpayers to file their taxes electronically and have their tax refund direct deposited into their bank account. See: IRS: Free File Now Open, Do Your Taxes For Free Find: Teens & Taxes: How Much Can Your Teen Make Before Needing to File Taxes? The IRS outlined the benefits of direct deposit: Speed: Tax returns filed electronically get processed faster. Plus, you don't have to wait for a check to be mailed.Security: There's no risk of your paper check being lost or stolen in the mail.Ease of filing: Simply select "Direct…

By Dawn Allcot

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Lawmakers Introduce Bill To Improve Crypto Tax Laws — Here’s How It Would Make Life Easier for Consumers

Legislation reintroduced to Congress last week by a bipartisan group of lawmakers aims to change the way cryptocurrency purchases are taxed and help clear up some of the confusion over how to account for certain crypto transactions on your tax returns. See: Taxes 2022 — Questions About Your Crypto Purchase To Ask an Accountant Before You FileFind: There's a New Free Service for Compiling Tax Data To Report Crypto and NFTs The Virtual Currency Tax Fairness Act was introduced on Feb. 3 by Rep. Suzan DelBene (D-Wash.) and Rep. David Schweikert (R-Ariz.) and is co-sponsored by Rep. Darren Soto (D-Fla.)…

By Vance Cariaga

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Child and Dependent Care Credit Can Add Up to $8,000 — Here’s How To Claim the Money on Your Taxes

Enhanced Child Tax Credit payments were big news in 2021, as eligible families in the United States received more than 200 million advance payments that went to roughly 61 million children. Less attention has been paid to a similar federal program that can provide tax credits of up to $8,000 to families. Stimulus Update: Does Build Back Better Defeat Spell the End of Child Tax Credit Payments?Explore: Didn't Get Your Child Tax Credit? Here's How to Track It Down That program, the Child and Dependent Care Credit, has been around since the 1970s, so it's not exactly new. It was launched to…

By Vance Cariaga

Reasons You Might Not Get a Tax Refund This Year

By Nicole Spector

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Major Tax Changes for 2022 You Need To Know

By John Csiszar

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7 Steps To Take Now To Make Tax Filing Easier Next Year

By Heather Taylor

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Here’s How Americans Are Planning To Use Their Tax Refunds in 2022

By Andrew Lisa

Make Your Money Work For You

MORE ABOUT TAXES

Bitcoin and Crypto Taxes in 2022: What You Need To Know

Cryptocurrency is the Wild West of the investment world. Not only are these digital currencies completely nontangible, but they fluctuate with such volatility that trading and investing in them can feel more like playing a video game than investing in a real asset class. See: Best Undervalued Cryptocurrencies To Buy for 2022Check Out: 8 Best Cryptocurrencies To Invest In for 2022 But from a tax perspective, the IRS views cryptocurrency transactions the same as if you were buying or selling stocks, bonds or other financial assets. Here are the important tax-related things you need to know about cryptocurrency, whether you trade it…

By John Csiszar

An Adoptive Parents’ Guide to Taxes

The process of adopting a child can be both incredibly exciting and financially stressful. While the financial side of things may not be your primary concern, the truth is that adopting a child can be an expensive proposition. Fortunately, the tax code is designed to promote certain behaviors that are deemed to be socially beneficial, and adopting a child falls into this category. In other words, you might find some relief in the form of tax credits if you go through the rewarding but financially challenging process of adopting a child. Here are some of the main things adoptive parents…

By John Csiszar

10 Signs You Really Do Need Professional Help Filing Your Taxes

Paying taxes is painful enough. Why fork over even more of your hard-earned money to pay someone to prepare your tax return? Learn: Taxes 2022: Are Face Masks and Hand Sanitizer Deductible?Explore: Tax Filing 2022: How To Set up ID.me for the IRS You probably don't need to if your tax situation is straightforward. You can prepare your return on your own or with the help of tax software. But for some taxpayers, it's worth spending the money to get professional help. "For people who have complex taxes and don't want to do them, there's a tax pro out there waiting for…

By Cameron Huddleston

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1/3 of Child Tax Credit Recipients Don’t Know How It’ll Affect Their Taxes — Here’s What You Need To Know

About 61 million American children brought $93 billion to their collective households in 2021 through advance child tax credit payments. Unlike the $1,400 stimulus payments that nearly all households received, the child tax credit could have a big impact on your 2021 returns — and a startlingly high percentage of taxpayers simply don't know what to expect. Taxes in 2022: Find Out Everything You Need To Know About Filing, Refunds and MoreChild Tax Credit Update: Yellen Urges Americans to File Taxes to Get Unclaimed Money GOBankingRates conducted a poll of 1,000 American adults, and the results showed that of those…

By Andrew Lisa

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30 Ways To Make Tax Season Less Scary

There are no two ways around it: Few things frighten people more than the realization that it's tax filing time. The tax code is both enormous and enormously complicated, and for the vast majority of Americans who aren't licensed tax preparers, dealing with it can be terrifying. There's so much to organize and prepare, all by the deadline this year, and there are pretty severe consequences if you don't. See: Why You Should Line Up a Tax Preparer Now — and What Paperwork You'll NeedFind: Tax Prep 2022: AARP Offers Free Assistance — What Documents Will You Need To Provide? But don't…

By Joel Anderson

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10 Best Ways To Use Your Tax Refund if It's Not Very Big

If you receive just a small tax refund from the federal government, congratulations! A small tax refund — or even owing a little money — is actually a sign of a well-managed financial life. Don't get down if your neighbor boasts of getting a $10,000 check, because receiving a large tax refund means you've essentially given the government a tax-free loan of your money. It's better to use that money throughout the year for your own purposes. See: What Is the Next Big Cryptocurrency To Explode in 2022?Learn: 11 Ways Warren Buffett Lives Frugally If you do receive a small tax…

By John Csiszar