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4 Key Things You Need to Know About the New 2020 IRS Form W-4 Employee’s Withholding Certificate

February 13, 2020 February 18, 2020 / TurboTaxBlogTeam

You may or may not have heard that the IRS launched a new redesigned Form W-4 used to adjust federal tax withholding, which is effective starting with tax year 2020 taxes (the ones filed in 2021). The IRS created the...

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Tax News

Oscars and the Taxation of “Swag Bags”

February 5, 2020 / TurboTaxLisa

The outfits are picked, parties planned and the votes for the 2020 Oscar winners will be tallied. This weekend, Hollywood’s nominees will gather for the 92nd Academy Awards ceremony. And while most hopefuls will not be walking away with the...

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Tax News

E-File is Now Open: Why You Should File your Taxes Early

January 27, 2020 January 30, 2020 / TurboTaxBlogTeam

Today, January 27, the IRS officially kicked off the opening of the 2020 tax season and is now accepting e-filed tax returns. As we all know, some taxpayers wait until the last minute to file their taxes, but if you...

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Tax News

IRS Announces E-file Open Day! Be the First In Line for Your Tax Refund

January 6, 2020 January 7, 2020 / TurboTaxLisa

Mark your calendars! The IRS confirmed today that they will begin processing tax returns on Monday, January 27, 2020. You can get started now and be first in line for your tax refund! TurboTax is already accepting tax returns and will securely hold them for transmission to the IRS and States once they begin accepting e-file.

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Tax News

Congress Extends Expired Tax Breaks Helping You Keep More Money in Your Pocket

December 23, 2019 January 15, 2020 / TurboTaxLisa

Last week, the Taxpayer Certainty and Disaster Tax Relief Act of 2019 — which provides tax relief for millions of Americans — was passed by Congress and signed into law by the President. The law extends many already expired provisions...

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The PATH Act and What You Need to Know About Expiring ITINs

November 25, 2019 / TurboTaxLisa

The Protecting Americans from Tax Hikes (PATH) Act of 2015, which was passed by Congress and signed into law in December 2015, requires taxpayers to renew expired ITINs in order to file their taxes. The IRS announced that more than...

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Tax News

IRS Provides Further Guidance on the Taxation of Virtual Currency

October 15, 2019 October 23, 2019 / TurboTaxLisa

On October 9, 2019, the IRS released further guidance, on how virtual currency should be taxed. The last guidance, issued in 2014, explained that virtual currency is treated as property for Federal income tax purposes and applied tax principles applicable...

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Announcements, Tax News

Sweepstakes: Share Your #AdultingWins This Tax Season

March 11, 2019 June 7, 2019 / TurboTaxBlogTeam

Tax Day is right around the corner, and what better way to adult than by getting your taxes done? Whether you’ve filed your taxes yet or not, there are plenty of ways you can conquer adulting on a daily basis,...

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Tax News

Happy Tax Day!

April 18, 2018 / TurboTaxBlogTeam

*Today is the last day to file your taxes, which means you have until 11:59 PM local time to e-file your tax return. For those of you who have already filed your taxes, congratulations on getting your #TaxesDone! If you’re...

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Tax News

Aviso: El IRS Extiende la Fecha Límite Para Declarar Impuestos al 18 de Abril

April 17, 2018 April 18, 2018 / TurboTaxBlogTeam

In English El IRS anunció hoy que estará extendiendo la fecha límite para declarar y pagar los impuestos federales debido a los problemas que tuvieron con el sistema el 17 de abril, que era la fecha original para hacer la...

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