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Posts Tagged ‘file a tax return’

When Do Your Kids Have to Start Filing Taxes?

Dependents are required to file a tax return depending upon their income and their source of income. If your child has income, you need to check if he/she is required to file a return. A dependent is a child under age 19 at the end of the year, or under age 24 at the end of the year and a full-time student. ...

Missing a Filing Extension

If you believe that you won’t be able to file your tax return by April 18, 2016, you should request an extension before the filing deadline. To file for extension, use Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. After you file the form, you automatically receive 6 additional months to file. The extended deadline for 2016 is October 17. Businesses may use Form 7004 or Form 1138 ...

Things to Know When Filing Your Tax Return This Year

January 27, 2016  |   Tax Advice,Tax Tips   |   Tags: , , , ,  

Taxpayers should expect various tax rule updates this year, and important changes made by the IRS. There has been a hike in Affordable Care Act penalties, and reporting requirements are mandatory for those holding foreign financial assets valued at $50,000 or more. In order to remain compliant with current tax rules and avoid running into any problems, taxpayers may review the following filing facts, as shared by Time: “1. Tax Accountants Get Swamped Closer ...