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Taxes 101

Can I File Exempt & Still Get a Tax Refund?

February 9, 2019 January 13, 2020 / TurboTaxBlogTeam

The IRS issues tax refunds when you pay more tax during the year than you actually owe. When you file exempt with your employer for federal tax withholding, you do not make any tax payments during the year. Without paying tax, you do not qualify for a tax refund unless you qualify to claim a refundable tax credit.

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Taxes 101

Don’t Let Filing Multiple W-2s Scare You

February 5, 2018 July 10, 2019 / asbbaines

According to the Bureau of Labor Statistics, 7.5 million Americans had more than one job in 2016, and the number is increasing. Add in those who changed jobs, and you have quite a few people who find themselves with two or more...

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Taxes 101

What is the Capital Gains Tax?

January 23, 2018 August 12, 2018 / asbbaines

The IRS deems all taxable income as one of two types: ordinary and capital gain. Here is an overview the difference between ordinary and capital gains, and a basic introduction to capital gains.

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Taxes 101

What is a 1099 Form?

February 18, 2017 July 8, 2019 / Elle Martinez

Although you don’t need to know much about tax forms with TurboTax on your side, it’s always best to organize your forms that when you sit down to do your taxes. Many people are familiar with W-2s, but they may not be aware that other financial documents...

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Deductions and Credits, Education, Family, Home, Tax Deductions and Credits, Tax Planning, Tax Tips, Taxes 101

What Does Your Hairstyle Say About Your Life? [Infographic]

June 29, 2015 June 10, 2019 / TurboTaxAngie

Whether you’re channeling your inner rocker, bride, or Wall Street professional, the way your hair looks can say a lot about your stage of life. Regardless of your style du jour, your finances — just like your hairstyle — need...

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Taxes 101

Tax Audits Explained (Not As Scary As You Think)

June 13, 2011 July 11, 2019

In movies, tax audits are always scary. Big, burly, intimidating men in dark suits and glasses. Over-sized clipboards. The sound of pens furiously scratching paper. Handcuffs. You know the deal. But are tax audit visits really that frightening in real life? Not so. In fact, only 1% of all taxpayers even experience an audit. Of those, about 20% ever result in a face-to-face encounter with the IRS. Most inquires, fortunately, are resolved through correspondence. Take a look below at our guide to tax audits.

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Taxes 101

Strange Old Taxes That Aren't Around Anymore

April 13, 2011 July 12, 2019

Tax complaints are never higher than during the month of April. But while there are many valid reasons to dislike owing Uncle Sam cash, it truly could be worse. There are options if you owe on your Federal taxes.

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Taxes 101

What are IRS Tax Forms?

April 13, 2011 / Elle Martinez

It’s crunch time for your taxes if you haven’t filed already. While you still have until April 18th to get it done, you’ll want to take care of it sooner than later. What do you need to be prepared for your taxes this year? What forms are some big ones to look out for? I’ll share the typical tax forms that you can expect to see this year.

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Taxes 101

Tax Filing Extensions: What You Need to Know

April 11, 2011 July 11, 2019 / Elle Martinez

As the tax filing deadline is approaching (April 18th, 2011), many people are realizing that they need more time to get their filing together. It’s possible to get an extension to October 17, 2011, but you need to do it correctly. Fortunately, you can fill out this form electronically with ease using TurboTax.

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Taxes 101

Common Reasons Why People Procrastinate On Their Taxes

March 21, 2011

It’s 2011 and another tax season is soon upon us. Like other years, this one is sure to see its fair share of income tax procrastinators. Much like yard-work and housecleaning, filing a tax return is something many of us feel comfortable putting off

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