All About Tax Refunds

According to IRS data 8 out of 10 Americans receive tax refunds on an annual basis. The average tax refund is between $2,800 and $3000 and varies according to income group. Individuals earning an annual income less than $50,000 would typically receive tax refunds 84% of the time and normally in the region of $3000 […]

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What Is My Tax Bracket?

For you to be able to file your income tax and any other tax properly, it is important to know what your income tax bracket is, your filing status, and which income tax rates apply to you. When people talk about tax brackets, they are referring to the Marginal Tax Rate – the rate at […]

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The Importance of Tax Planning

Everyone who lives or works in the United States is responsible for paying taxes. Taxes can be a major source of stress for many individuals, but they don’t have to be. With proper tax planning, you may be able to reduce your tax burden or earn a larger refund at the end of the year. […]

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How Do I File Back Taxes?

To finally be free from stress caused by your tax problems, you would need to first file all your back taxes. This is true even if you already missed returns for a couple of years. Some people tend to put it off after missing one return, then eventually failing to file a couple of years […]

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What Happens When You Don’t File Taxes

There are certain things that are better to be unplanned. This can be true in terms of travel, dates, or parties, but not when it comes to filing your taxes. Your excuse that you work better under pressure will not be on your side this time around. Filing taxes can be a lot of work […]

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Changes and Considerations for 2021 Tax Filing

The Internal Revenue Service (IRS) implements minor tax changes every year, including adjustments for inflation, new exemptions and alterations to certain provisions. Most things have been unusual lately thanks to the COVID-19 pandemic, and 2021 tax changes are a little more dramatic than normal. So far, Congress and the IRS have not decided to push […]

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