Andy | Saving to Invest

Can a Taxpayer Advocate Help Get My Delayed Refund Released?

The Taxpayer Advocate Service (TAS) is an independent organization within the IRS that can help filers with tax problems they can't resolve on their own, or if they have exhausted all standard IRS channels and not getting an adequate response. Every state has at least one local TAS center that…

Contributing to an IRA and Roth IRA if You Already Have a 401K – 2021 and 2022 Non Deductible IRA and Maximum Tax Deductible Contributions

"Can I Contribute to an IRA, Roth IRA and a 401K if I have access to all these accounts? What are the limits and rules of doing so?" This is the kind of question I get fairly often and one that I actually had to recently sort out for myself. To determine…

Refund Direct Deposit Date (DDD) Earlier Than Expected? 2024 IRS Direct Deposit Timings, Payment Delays and Fixing Incorrect Bank Information

Despite ongoing processing delays the IRS is continuing to process and pay tax refunds. However there are still a lot of folks seeing delays in getting their refund payment despite the Where is My Refund (WMR) IRS tool showing that the return has been approved (2 bars) and/or refund sent (3…

Answers to The Most Searched for Tax Season Questions

Common IRS Tax Questions This time of year taxes are on the forefront of most Americans personal finances. Which leads to searching online for questions like, "When can I file?", "How do I file?", "How much of a refund will I get back?", and "Why is the IRS taking so…

Why is My Tax Refund So Low Compared to Last Year?

Millions of tax filers are now getting their actual tax refunds in line with the estimated IRS schedule. Payments are also being made in a much more timely fashion than was the case over the last few years. However when they filers see their actual refund is lower than expected,…

Things to Remember At Tax Time – Your Tax Preparation Checklist

Thanks to the accounting folks at BConnect Inc, here is a straight forward tax preparation checklist that will save you time when you file with your accountant or before you start using tax software for self-filing. Tax preparation is faster, easier and more stress-free if you take a little time…

Who Can I Claim as a Dependent and Can Both Parents Claim the Same Child as a Dependent?

I receive a number of questions every tax season regarding eligibility rules for claiming someone as a dependent on their tax return. Obviously this is an important topic because being able to claim someone as a dependent provides a number of tax benefits/exemptions and ultimately a lower tax bill. Further,…

People NOW Seeing Their Tax Refunds in 2025 Plus Tips on What to do if Your Refund Has Not Yet Been Received

The IRS has announced that it is now processing tax returns for all taxpayers, including those who filed a return including those who claimed the EITC/ACTC. Unlike prior years, processing seems to be much smoother this year. The number of returns processed by the I.R.S. was down about 10 percent…

2024 Tax Refund Delays: How to Check Your Status and Get Your Money Faster

The IRS normally processes millions of returns and refunds in a timely manner, but unfortunately many tax filers and business continue to face extended delays, sometimes weeks or months after filing. So during and after tax season here are five key items you need to be aware of as you…

Using Your Credit or Debit Card to Pay Taxes – Costs, Convenience and Other Factors To Consider

Many tax payers may find themselves owing taxes to the IRS or to their state tax agencies after preparing their tax return. Cash flow may be a bit tight, so they may opt to pay via their debit or even credit cards. But before doing so, it pays to be…

When Will I Get My Employer W2, Investments 1099, Mortgage 1098 and Other Tax Return Forms and Filing Documents

Before we file our tax returns there are a number of forms we need to receive from our employers, financial institutions and other third-party entities we make money from, conducted financial transactions or did business with. Below are estimated time frames for when we can expect to receive some of these common income tax forms for…

How and Where Can I File My 2023 Taxes for Free? 2024 IRS Free Filing Options and Income Qualification Threshold

When it comes to filing your taxes, there are now a lot of free options that allow eligible low- and middle-income Americans to avoid expensive tax filing fees. Most leading tax software providers provide options via the IRS’ free file program which provides free or discounted federal income tax preparation…

Are Vanguard and Fidelity Increasing Fund Fees?

Vanguard and Fidelity are widely known for their low cost index and mutual funds. Their low expense fees/costs and broad array of funds have made them the fund manager of choice for many individuals, corporations and trusts. So its no surprise that they are the biggest of the fund managers and…

2017 and 2018 Trump Economic Stimulus, Tax Breaks and Credits for Individuals, Corporations and Investors

With Donald J. Trump now America's 45th president many are now asking if he can bring around the economic change promised while on the campaign trail. A lot of people voted for him as a change agent and from an economic point of view at least are hoping he can…