Do you really want a big refund? Some taxpayers always want a big refund and want to know how other people get big refunds. The standard answer from tax preparers is to withhold more. The more you have withheld, as a general rule, the larger your refund. This is not withstanding refundable credits. Just remember,…
CT residents and tax on leased cars For Connecticut residents who lease their cars, if the leasing company breaks out the vehicle property tax on your bill you can use that as property tax on your Connecticut return (page 4). You cannot claim this property tax on your Federal return because you do not own…
If you are expecting a refund from New York you can create an Online Service account at http://www.tax.ny.gov/online/ and sign up to receive an email when your New York State income tax refund is scheduled to be issued.
Two quick items: If you’ve misplaced your SSA-1099 or SSA-1042S before getting your taxes done, you can now go to http://www.socialsecurity.gov/myaccount/, create an account, and print a replacement form. The IRS has released a new version of its app: IRS2Go. It is available in English or Spanish and will allow you to check your refund…
The IRS has issued Direct Deposit Limits this year In an effort to combat tax fraud, effective January 2015, the IRS will limit the number of refunds electronically deposited to a single savings or checking account or pre-paid debit card to three. Beginning with the fourth direct deposit refund to an account the tax payer…
Do you receive 1099-MISC forms? If you are self-employed or own a small business you usually receive 1099-MISC forms instead of W2s. For as long as we’ve been doing taxes we’ve been seeing 1099-MISC forms issued with the company name and the owner’s social, or vice versa. Beginning last year, we saw a tremendous amount…
Everyone knows the IRS does not call you or email you as first contact, right? Well, the IRS does not email you as first contact. They also don’t fax text, or robocall as first contact. If the first you hear from the “IRS” is a threatening phone call demanding immediate payment, you’re not actually talking…
CT Specific Fraud Alert – if you haven’t heard, Anthem Inc., a very large insurance company, had its data breached. Due to this breach Kevin Sullivan, Connecticut’s Department of Revenue Services Commissioner, issued a Media Alert to advise our state’s residents who are expecting federal or state income tax refunds to file their tax returns…