Banks and Taxes - Private Equity Central

Will You Be in for an Unpleasant Tax Surprise in 2024?

The Motley Fool

JANUARY 30, 2024

Image source: Getty Images Millions of tax filers received a tax refund from the IRS in 2023. If you typically get a refund when you file your taxes , you may be anticipating a repeat situation this season. Before the Fed's rate hikes, banks were generally paying minimal interest on savings accounts and CDs.

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This Tax Season, Beware of These 4 Dark Web Tax Scams

The Motley Fool

MARCH 28, 2024

There are good, lawful, legitimate purposes for the dark web, but its anonymity can also be used by cybercriminals and hackers -- and some of these dark web hackers want to steal your tax refund. Let's see how these dark web tax scams might affect your taxes -- and how you can stay safe. Criminals looking to buy access to U.S.

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My Tax Refund Is Late. Does That Mean I'm Getting Audited?

The Motley Fool

MARCH 21, 2024

Image source: The Motley Fool/Upsplash Many people wait until the very last minute to file their taxes. But there's a big benefit to getting your tax return done early -- having your refund hit your bank account sooner. But what if you submitted your taxes weeks ago and haven't seen that money hit yet?

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Should You Use Your Tax Refund to Open a CD?

The Motley Fool

MARCH 13, 2024

Image source: Getty Images At this point, many people have filed their taxes and are waiting for their refunds to hit their bank accounts. So if you're in a similar situation, do not put your tax refund into a CD, where you'll risk a penalty for withdrawing your money before your CD matures. But is that a good idea?

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3 Costly Tax Mistakes to Avoid in 2024

The Motley Fool

JANUARY 18, 2024

Image source: Getty Images Paying taxes is a part of life for all of us. And unfortunately, mismanaging your tax situation could result in a hit to your personal finances. So could falling victim to certain blunders on your tax return. Don't just put "$3,000" on your taxes and assume that's good enough. Accuracy matters.

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I Submitted My Taxes and Got a CP2000 Notice From the IRS. Help!

The Motley Fool

APRIL 19, 2024

Image source: Getty Images So you submitted your tax return and heaved a big sigh of relief at having one unpleasant task in your life done with. It's merely a notice from the IRS indicating that the information you entered on your tax return doesn't match the agency's records. If you agree, you fill out the notice and send it back.

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5 Ways to Lower Your New York State Tax Bill

The Motley Fool

MARCH 17, 2024

Image source: Getty Images Ah, New York, the Empire State: home to the Big Apple, cascading waterfalls, and, not so proudly, some of the highest taxes in the nation. Whether you're a city slicker dodging taxis or a country dweller enjoying the serene landscapes, one thing unites all New Yorkers: the quest to lower that pesky tax bill.

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Here's What Happens When You Blow Off Your Tax Bill

The Motley Fool

MARCH 17, 2024

Image source: The Motley Fool/Upsplash As of late February, the average tax refund issued by the IRS in 2024 came to $3,213. But what if you're not due a refund on this year's taxes ? There are different reasons why you may end up with a tax bill on your hands this year. What if you owe the IRS money instead?

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Here's What Happens if You File Your Tax Return One Week Late

The Motley Fool

APRIL 7, 2024

Image source: The Motley Fool/Upsplash Because tax returns are typically due on April 15, it shouldn't really come as a surprise that this year, the same holds true. You might think it's no big deal to file your tax return a week late. It equals 5% of your unpaid tax bill per month or partial month your return is late, up to 25%.

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It's March and I Don't Have All of My Tax Forms Yet. Now What?

The Motley Fool

MARCH 3, 2024

Image source: Getty Images Now that March has arrived, it's time to get serious about filing your taxes. And while you won't be penalized for a late return if you're due a refund, you'll be penalizing yourself by delaying that money from hitting your bank account. But what if you're missing some key tax forms at this stage of the game?

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6 Ways to Get Free or Cheap Help With Your Taxes

The Motley Fool

MARCH 7, 2024

Image source: Getty Images Tax season is here. You still have time to file your 2023 tax return. If you're worried about the cost of tax software , explore free and low-cost resources. These services can help you keep more money in the bank. These services can help you keep more money in the bank.

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5 Smart Reasons to Pay Business Taxes With a Credit Card in 2024

The Motley Fool

APRIL 9, 2024

Image source: The Motley Fool/Upsplash Unless you're a giant corporation who can loop every hole, your business is going to need to pay taxes. Indeed, you're going to need to pay them multiple times a year thanks to quarterly estimated tax requirements. When it's time to pay those taxes, consider how you'll pay.

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Getting a Big Tax Refund? Here Are the 3 Smartest Things to Do With It

The Motley Fool

MARCH 19, 2024

Image source: Getty Images Getting a tax refund isn't a given. Some people submit their taxes only to see that they owe money to the IRS rather than the other way around. Read more: we researched free tax software and put together a list of the best options here 1. You could end up exempting that much income from taxes.

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Here's What Happens When You Owe the IRS But Can't Pay Your Tax Bill

The Motley Fool

MARCH 8, 2024

Image source: Getty Images Doing your taxes is unpleasant enough, but it can turn into a nightmare if you wind up with an unexpected bill. If you're lucky, you can cover what you owe out of your bank account and mail in a check along with your return. of the tax owed every month it remains unpaid. Don't panic, though.

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3 Reasons to File Your Taxes Early in 2024

The Motley Fool

JANUARY 12, 2024

Image source: Getty Images Now that 2024 is in full swing, it's time to focus on a task you (like others) might dread: filing taxes. Tax returns for 2023 are due this year on April 15. You may not be in a position to get your tax return done by late January, since that's only a couple of weeks away. Here's why. Here's why.

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The Tampon Tax Back Coalition Will Reimburse You for Taxes Paid on Select Period Care Products

The Motley Fool

DECEMBER 11, 2023

states still impose taxes on them even though they're necessary personal care items. If you get a period and live in a state that charges this tax, you can expect to pay more at checkout. But some relief is here thanks to the Tampon Tax Back Coalition. You can get your tampon tax money returned after filing a claim online.

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5 Tax Forms to Look Out for in Early 2024

The Motley Fool

JANUARY 16, 2024

Image source: Getty Images Like it or not, we're getting to the point of the year when it's time to start thinking about taxes. Although the filing deadline is April 15, the IRS will begin accepting tax returns on Jan. And filing your taxes early could mean getting your refund sooner, if you're entitled to one.

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I Missed the Deadline to File My Taxes. Does It Matter When I Submit My Return at This Point?

The Motley Fool

APRIL 16, 2024

Image source: Getty Images Taxes are due every year on April 15. But if the tax-filing deadline has come and gone and you're still sitting on an unfinished return, you may be wondering just how much worse you might make the situation by letting it sit a bit longer. Instead, get moving on that tax return ASAP.

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4 Last-Minute Tips for a Smooth Tax Filing

The Motley Fool

APRIL 2, 2024

Image source: The Motley Fool/Upsplash As of the week ending March 8, the IRS had received more than 62 million tax returns and issued more than 43 million refunds. At this point, though, you really only have a short amount of time to complete your taxes. And you might be feeling the pressure. And you might be feeling the pressure.

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Tax Hacks: 5 Smart Ways to Increase Your Charitable Write-offs

The Motley Fool

FEBRUARY 17, 2024

Image source: Getty Images If you itemize deductions on your tax return, one of the best ways to save money and do a lot of good at the same time is to donate to charitable organizations. While it's a well-known fact that charitable contributions are usually tax-deductible, there are some strategies you can use to maximize the value of yours.

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Filing Your First Small Business Tax Return This Year? 3 Moves to Make Now

The Motley Fool

FEBRUARY 21, 2024

Image source: Getty Images The 2024 tax season officially kicked off in late January. And 2023 returns are due on April 15 this year, which is the standard tax-filing deadline. Filing taxes can be complicated even when you're a regular old salaried employee.

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5 Reasons Why Freelancers Should Prioritize Business Banking Accounts

The Motley Fool

APRIL 20, 2024

Having a business bank account can make it easier to handle your financial affairs. Many top banks offer plentiful business banking products for businesses of all sizes. Here are a few reasons to consider using business banking products if you're a freelancer.

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30% of Tax Filers Are Stressed About Payment Platform Reporting. Here's How to Navigate It

The Motley Fool

MARCH 14, 2024

Image source: Getty Images When you're self-employed, managing your taxes can be a bit more complicated than it is for people who get paid a salary. That's because you're required to pay estimated taxes on your earnings during the year, as opposed to having taxes withheld from your pay.

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Got Your Tax Refund? 9 Smart Things to Do With It

The Motley Fool

MARCH 18, 2024

Image source: The Motley Fool/Upsplash As of late February, the average tax refund issued by the IRS this filing season was $3,213. But no matter what refund you get on your taxes , it's important to make the most of that money. At a minimum, aim for enough cash in the bank to cover three months of essential bills.

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AARP Offers Free Tax Prep to Older Adults and Taxpayers With Low to Moderate Incomes

The Motley Fool

FEBRUARY 12, 2024

Image source: Getty Images You may want to begin organizing your tax documents soon. But if you need assistance preparing your tax return, there is still time to get help. One such resource available to eligible taxpayers is the AARP Foundation Tax-Aide program. The AARP Foundation Tax-Aide is available from Feb.

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This Tax Change Could Make Healthcare More Affordable for You

The Motley Fool

DECEMBER 17, 2023

Read more: we researched free tax software and put together a list of the best options here It pays to contribute to a tax-advantaged account like an HSA (health savings account) if you can. Instead, you'll benefit in the form of tax savings. If you dip into your bank account to pay those bills, they'll cost you $1,000.

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How to Get a California State Tax Extension

The Motley Fool

MARCH 21, 2024

That's okay -- the Golden State makes it easy to delay filing taxes. Whether you're waiting on a form or just need more time, you can delay filing your taxes until Oct. According to the California Franchise Tax Board (FTB), there's no need to fill out any application. Enter tax year, payment amount, and payment date.

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3 Reasons a Big Tax Refund Can Actually Be a Good Thing

The Motley Fool

APRIL 25, 2024

Image source: The Motley Fool/Upsplash Most people don't love filing taxes, but lots of people love getting a tax refund! The average IRS tax refund for 2024 is $3,011 (as of April 15 data). For many Americans, a tax refund feels like a happy surprise -- "free money" from the government.

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Want Your Tax Refund Sooner? Do These Things

The Motley Fool

JANUARY 17, 2024

That's what a tax refund represents. Contrary to what you may have been led to believe, a tax refund isn't a form of free money. Read more: we researched free tax software and put together a list of the best options here 1. Read more: we researched free tax software and put together a list of the best options here 1.

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Tax Cheats Beware: This IRS Program Makes Whistleblowing Lucrative

The Motley Fool

JULY 26, 2023

Treasury has enlisted the help of employees, attorneys, bookkeepers, family members and more to collect some of the estimated $1 trillion in unpaid taxes every year. However, it's not as easy as pointing a finger and depositing a check into your bank account. For over 150 years, the U.S.

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The Fastest Way to Get Your New York Tax Refund

The Motley Fool

MARCH 24, 2024

Image source: Getty Images The funny thing about taxes is that, technically, the best result is no one owes anyone anything -- when, in reality, many of us are happy to get that check every spring. Read more: we researched free tax software and put together a list of the best options here 1. Going to the bank takes time.

Taxes

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Hiring Someone to Do Your Taxes This Year? Take These 3 Steps Before Handing Over Your Information

The Motley Fool

FEBRUARY 11, 2024

Image source: Getty Images I've yet to meet anyone who gets excited about taxes. Every year, millions of Americans hire tax professionals to do their returns for them. If you're thinking about going this route for your 2023 taxes, take the following three steps first to make sure you're working with the right person.

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Never Do THIS With Your Tax Refund

The Motley Fool

MARCH 6, 2024

16, the IRS had issued more than 20 million tax refunds. Since the 2024 tax-filing season is far from over, it's fair to assume that number will change in the coming weeks. Don't treat your tax refund as free money One of the biggest mistakes you can make with your tax refund is treating that money like a gift from the IRS.

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6 Huge Advantages of Banking Online

The Motley Fool

JULY 6, 2023

Image source: Getty Images We're nearly a quarter of the way through the 21st century, and yet some people still climb into their cars and drive to their local brick-and-mortar bank when they have financial business to take care of. Here are six advantages of using the online banking services offered by your financial institution.

Banks

Banks Financial Institutions Accounting Taxes

I Received an Amended 1099 Form. How Does This Affect My Tax Return?

The Motley Fool

MARCH 16, 2024

Image source: Getty Images Taxes are due this year on April 15. But maybe you decided to file your tax return early so your refund could hit your bank account sooner. That may have been more than feasible if you had all of your tax forms on hand. Individual Income Tax Return. Why should I have to do more work?"

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Here's What Happens When You Owe Money on Your Taxes and Don't File a Return on Time

The Motley Fool

MARCH 15, 2024

Image source: The Motley Fool/Upsplash Taxes are basically due on the same date every year -- April 15. Sometimes, the IRS will push back the tax-filing deadline by a day or two if April 15 falls out on a weekend or conflicts with Emancipation Day, a mid-April holiday recognized in Washington, D.C. So let's break things down.

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New Survey Shows: Why You Haven't Filed Your Taxes Yet

The Motley Fool

APRIL 7, 2024

Image source: The Motley Fool/Upsplash Tax Day 2024 is April 15, but many Americans aren't ready to file their taxes. If you are procrastinating about your taxes, it might be because you're feeling worried about what refund you might get -- or how much you might owe.

Taxes

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The Fastest Way to Get Your California Tax Refund

The Motley Fool

MARCH 24, 2024

Image source: Getty Images So you're banking on a fast refund to pay the bills. The fastest way to get your tax refund is straightforward. File early Tax season is a speed game. If you have a choice between filing your taxes today and filing by the 2024 deadline, choose now. You can file taxes online in several ways.

Taxes

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I Filed My Taxes Weeks Ago and Still Haven't Gotten My Refund Yet. Now What?

The Motley Fool

MARCH 16, 2024

Image source: Getty Images Taxes are due this year on April 15. But if you're someone who likes to be ahead of the game, you may have submitted your 2023 tax return in late January or early February. The benefit of filing taxes early is potentially expediting your refund. Here are some other explanations.

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Does Tax Preparation Software Save You From an Audit?

The Motley Fool

MARCH 5, 2024

Image source: The Motley Fool/Upsplash The odds of your tax return being audited are roughly 3 in 1,000, or 0.3%. Some people will try anything, from paying top dollar for an accountant's help filing their returns to buying tax software with all the bells and whistles. And that's where tax preparation software may come in handy.

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Get a Big Tax Refund? Here's Why That's Actually Bad News

The Motley Fool

MARCH 27, 2024

Image source: Getty Images Getting a big tax refund can feel really exciting. After all, you're getting a nice check in the mail or a big chunk of money deposited into your bank account just for filling out some paperwork in the form of a tax return. But it isn't free money; it's your money. You could have saved the $267.25

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Was Your Tax Return Rejected as a Duplicate Filing? Take These Steps Right Now

The Motley Fool

APRIL 5, 2024

Image source: Getty Images At this point, there's really not much time to get your taxes submitted ahead of the April 15 filing deadline. But what if you just finished your tax return, hit "submit" in your tax software , and got a notice of rejection due to a duplicate filing? It's natural to panic in this situation.

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Here's When You Can Expect Your Tax Refund in 2024

The Motley Fool

FEBRUARY 29, 2024

Image source: Getty Images There are only two good things about filing your taxes: staying out of jail and getting a refund check. But that money is not going to show up in your bank account the second your return lands in the IRS's system. The IRS issues most e-filed tax returns within 21 days of receiving the tax return.

Taxes

Taxes Financial Institutions Banks Accounting

5 Surprising Tax Deductions You Might Be Overlooking

The Motley Fool

MARCH 15, 2024

Image source: Getty Images The United States tax code is rather complex, and the reality is that because of its complexity, many people don't get all of the tax deductions they qualify for. Could any of the following deductions help reduce your tax bill? Medical expenses Taxpayers can deduct medical expenses that exceed 7.5%

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Will You Be in for an Unpleasant Tax Surprise in 2024?

This Tax Season, Beware of These 4 Dark Web Tax Scams

Trending Sources

My Tax Refund Is Late. Does That Mean I'm Getting Audited?

Should You Use Your Tax Refund to Open a CD?

3 Costly Tax Mistakes to Avoid in 2024

I Submitted My Taxes and Got a CP2000 Notice From the IRS. Help!

5 Ways to Lower Your New York State Tax Bill

Here's What Happens When You Blow Off Your Tax Bill

Here's What Happens if You File Your Tax Return One Week Late

It's March and I Don't Have All of My Tax Forms Yet. Now What?

6 Ways to Get Free or Cheap Help With Your Taxes

5 Smart Reasons to Pay Business Taxes With a Credit Card in 2024

Getting a Big Tax Refund? Here Are the 3 Smartest Things to Do With It

Here's What Happens When You Owe the IRS But Can't Pay Your Tax Bill

3 Reasons to File Your Taxes Early in 2024

The Tampon Tax Back Coalition Will Reimburse You for Taxes Paid on Select Period Care Products

5 Tax Forms to Look Out for in Early 2024

I Missed the Deadline to File My Taxes. Does It Matter When I Submit My Return at This Point?

4 Last-Minute Tips for a Smooth Tax Filing

Tax Hacks: 5 Smart Ways to Increase Your Charitable Write-offs

Filing Your First Small Business Tax Return This Year? 3 Moves to Make Now

5 Reasons Why Freelancers Should Prioritize Business Banking Accounts

30% of Tax Filers Are Stressed About Payment Platform Reporting. Here's How to Navigate It

Got Your Tax Refund? 9 Smart Things to Do With It

AARP Offers Free Tax Prep to Older Adults and Taxpayers With Low to Moderate Incomes

This Tax Change Could Make Healthcare More Affordable for You

How to Get a California State Tax Extension

3 Reasons a Big Tax Refund Can Actually Be a Good Thing

Want Your Tax Refund Sooner? Do These Things

Tax Cheats Beware: This IRS Program Makes Whistleblowing Lucrative

The Fastest Way to Get Your New York Tax Refund

Hiring Someone to Do Your Taxes This Year? Take These 3 Steps Before Handing Over Your Information

Never Do THIS With Your Tax Refund

6 Huge Advantages of Banking Online

I Received an Amended 1099 Form. How Does This Affect My Tax Return?

Here's What Happens When You Owe Money on Your Taxes and Don't File a Return on Time

New Survey Shows: Why You Haven't Filed Your Taxes Yet

The Fastest Way to Get Your California Tax Refund

I Filed My Taxes Weeks Ago and Still Haven't Gotten My Refund Yet. Now What?

Does Tax Preparation Software Save You From an Audit?

Get a Big Tax Refund? Here's Why That's Actually Bad News

Was Your Tax Return Rejected as a Duplicate Filing? Take These Steps Right Now

Here's When You Can Expect Your Tax Refund in 2024

5 Surprising Tax Deductions You Might Be Overlooking

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