TurboTaxBlogTeam

You may be down to the wire right now and pondering whether to file electronically or mail the return off. One of the most obvious perks of filing electronically is avoiding any lines at the post office while trying to...

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The IRS sent out a reminder yesterday to file your return by the April 15 deadline and to pay as much as you can of any taxes owed. In this reminder, they included some options for payment you should be...

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If you visit the IRS website and read topic 303, you’ll see a list of the most common filing errors people make for all returns filed.  One of the first things that struck me is that most of these errors...

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The IRS has come up with the health savings account for qualifying taxpayers to receive a tax benefit for medical expenses paid whether you itemize or not. Since the IRS did design this program, you might guess it is a...

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As it turns out, 1.8 million of them are.  That’s how many people didn’t file their return for 2003 even though the IRS owed them a refund.  If these people don’t move to file for this by April 17th, the...

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Your traditional IRAs may have a basis if you ever made any regular, annual contributions, not including rollover contributions, to any traditional IRA and you could not deduct the contributions in the year the contributions were made. For example, in...

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A 401(k) plan is an employer-sponsored retirement plan that allows you to save for your retirement and get a tax deduction at the same time. You have money withheld from your paycheck, and that money is deposited into your 401(k)...

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Beginning on January 1, 2006, there are two new types of retirement plans available to employees – the Roth 401(k) and the Roth 403(b). The same rules apply to a Roth 401(k) and a Roth 403(b), so I will only...

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So how many returns does the IRS expect to claim the telephone tax refund? First, The IRS expects to process about 136 million individual income tax returns for 2006.  The telephone tax refund can be claimed on those individual income...

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This is a question we hear every year.  There are a number of reasons to file electronically.  Up front, not everyone can file electronically.  Despite the fact the IRS would prefer we all file this way, there are still some...

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