I Filed My Tax Return, It Was Accepted Yet I Still Haven’t Seen Any Sign of My Refund – IRS Identity Review and Validation the Likely Reason

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You filed your return in a timely manner and were waiting for your refund to be sent within the standard timeline that IRS promises for most refunds to be issued. But alas, its been much longer than that and you are wondering Where is my DAMN refund! Here is sampling of reader comments on this scenario, plus […]

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Checklist of Common Errors When Preparing Your 2016 Tax Return That Could Delay Your Refund

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The IRS has updated its list of common filing errors which may be causing delays in your tax refund. I know this has been a hot topic for a lot of readers. Submitting your tax return electronically ensures greater accuracy than mailing your return. The e-file system often detects common errors and rejects your tax return, […]

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2016 Amended Tax Return Refund Schedule, Rules, Form 1040X and Deadlines

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So you have submitted your tax return and at some stage down the road you notice that you forgot to claim one of the many stimulus credits or qualified deductions. You may think that this money is gone now that your return has been submitted but you would be wrong; since you can actually send […]

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Which Fund Allocations Should I Choose for My 401K or IRA Contributions in 2016 Given Markets, Economy and Elections

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With the markets rocky, US and global economies facing headwinds and a presidential political campaign in full swing, choosing how to allocate your current and future retirement savings for the medium to longer term is no easy task. But rather than just leave your current 401K and IRA allocations as is amid changing macro and micro […]

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Thank God I Got My Tax Refund! Americans Get Religious With IRS Refund Delays

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People are getting very frustrated with delays they are seeing around getting their federal tax refunds. Despite the IRS saying that 9 out of 10 refunds will be processed in under 21 days, there have been a lot of people who seem to waiting a lot longer than the standard schedule. What’s exacerbated  this situation is the […]

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WMR and IRS2Go Status Differences – Return Received, Accepted or Under Review and Refund Approved versus Refund Sent

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On my post covering the IRS Refund Cycle Schedule I am seeing a lot of comments around the refund processing status’ on the IRS Where is My Refund (WMR) website or on the IRS2Go mobile app. Clearly there is a lot of confusion as people anxiously await their refunds and are unclear of how the IRS […]

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Will H&R Block, TurboTax and Other Online Tax Software Providers Help With IRS Refund Delays?

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On one of my more popular articles answering the question, “Where is my refund? ” I got the following representative comments which was the genesis of the title of this post. So I thought I would take some time here to address the obligations of these online tax providers when it comes to dealing with delays […]

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Obamacare ACA Maximum 2015 Penalty To Top $12,000 For Higher Income Earners

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For the 2015 tax year, the Obamacare or Affordable Care Act (ACA) shared responsibility is set to double from a maximum $975 per household in 2014 to approximately $12,850 per household. This is based on the percentage of income criteria, versus the flat tax/penalty amount outlined below. To avoid being subject to this penalty individuals […]

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When Will I Get My Employer W2, Investments 1099, Mortgage 1098 and Other 2016 Tax Return Forms and Filing Documents

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[Updated for 2015-2016 tax season] Before we file our tax returns there are a number of forms we need to receive from our employers, financial institutions and other entities we make money from, conducted financial transactions or did business with. Below are estimated time frames for when we can expect to receive some of these common income tax forms. Employer W-2. This […]

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2016 Affordable Care Act Tax Reminders

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The IRS has released some useful reminders when it comes to tax rulings and obligations around the Affordable Care Act, or Obamacare as it is more commonly known. For the vast majority of taxpayers providing proof of health insurance coverage (and avoiding a penalty) will simply mean checking a box to verify everyone on their return […]

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2016 Military Pay Charts – Basic Pay Tables Reflecting 1.3% Raise From 2015

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[2016 updated rates following 1.3% raise] With the powers that be finally reaching a consensus and presidential decree (i.e executive order) likely to come down before year end, our armed services members can expect a 1.3% raise to 2016 basic pay amounts.  This is less than expected but at least better than nothing in a relatively benign […]

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2016 vs 2015 Earned Income Tax Credit (EIC) Qualification Limits

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[Update] Below are the final IRS published 2015 and 2016 Earned Income Tax credit (EITC) figures. For 2015 tax returns, filed in 2016, refer to the 2015 EITC table and associated examples. The 2016 figures are for next year, but good for your tax planning in the year ahead. You can reference IRS publication 596 or use […]

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