by Angie | May 10, 2024 | Taxes
The IRS recently sent out a final reminder for those who still need to claim their portion of the $1 billion in tax refunds from 2020. Time to file for a refund expires May 17, 2024. There are approximately 1...
by Angie | Jan 18, 2023 | Itemize, Standard
To simplify this question, first, you need to know what is the standard deduction for your situation? The 2022 Standard Deduction for Single or Married filing separately is $12,950, for Married filing jointly orQualifying surviving spouse is $25,900, and Head of...
by Angie | May 12, 2022 | Schedule 3, Taxes
Line 20 refers to Schedule 3 which is to be filled out if you have additional credits that aren’t listed directly on the 1040, such as adoption credits and residential energy credits. Part I lists nonrefundable credits, credits that reduce the amount of taxes owed,...
by Angie | Apr 28, 2022 | Child, Dependent, Taxes
If you have children or dependents, then you will want to fill out Schedule 8812. This is 3 pages of math equations that seem to wind in so many paths just to give you an amount to enter on your 1040. I can’t even imagine how they came up with this. Someone at the IRS...
by Angie | Apr 19, 2022 | Distribution, Taxes
Now we get to figure out how much tax is due (line 16). I know…exciting right!? Use the tax table in the instruction handbook to locate the line with the amount entered on line 15 on your 1040. Then navigate to the column based on how you are filing (single, married,...
