Don’t like ’em but got to pay Uncle Sam to stay clean and fund the land we live in. However be smart and realize while we should pay our fair share there are many credits, deductions and tax breaks you should be taking advantage of to lower your taxes or maximize your refund. For these and other tax related information keep reading.
Trending Tax Topics
- Tax Rates and Brackets
- Tax Season Due Dates and Deadlines
- Tax Refund Delays and Contacting the IRS
- Stimulus Payments
- Claiming Your Missing Stimulus Payment via a RRC (Adult or Dependent)
- IRS Tax Refund Processing Schedule
- Unemployment and Taxes (1099-G)
- Child Tax Credit (CTC) Stimulus Expansion
- Earned Income Tax Credit
Tax Filing Software Providers
Maximize your refund and pay as little as you have to with these top online e-file tax software packages. Thanks to being a well established personal finance and tax blogger I get a lot of deals from tax software vendors through out tax season. But I only need one for myself so I thought I would share some of the best offers from each provider, some of which are exclusive to this site.
| Tax Provider | Summary |
|---|---|
| TurboTax | The most headache-free option, with a very intuitive user interface. From the simplest to the most complex return, TurboTax probably has you covered. Good for small business’ and self employed. |
| H&R Block | H&R Block’s offers an in-person and online do-it-yourself tax preparation service with well designed filing software and over 12,000 retail offices to provide back-up options and audit support. |
| TaxACT | Provider of affordable digital and download tax preparation solutions for individuals, business owners and tax professionals. Software has been designed by in-house programmers and tax accountants. All forms are IRS and State approved. Probably one of the cheapest online tax filing options out there. |
| Liberty Tax | Liberty Tax provides an exceptional online tax preparation solution at an affordable value. There are over 3,000 Liberty Tax Service locations throughout the United States and Canada |
FREE Filing Tax Options
You can use the IRS Free e-Filing (online tax software filing) if your adjusted gross income (AGI) is below a certain threshold ($72,000 currently). This free filing service is partnership between the IRS and major tax software providers. Note that participating tax software companies can set lower or higher AGI limits for using free file through their online service (see details in this article).
Most tax software provides guidance through the filing process via asking simple questions and putting your answers on the right forms. If does all the math and checks for accuracy. You normally get your refund within 21 days. The following well-known companies (always go with established companies for your taxes!) support the IRS free file e-filing option, but if you want more sophisticated help or have a higher AGI then you may have to pay for filing the return, due to the extra guidance/forms you receive.
TurboTax Free Edition: Turbo tax is the most used tax software and in the years that I have used it, I found it very easy to use thanks to it’s excellent step-by-step program to guide you through filling in your tax return. Like any commercial package though, they will try to “up-sell ” you, so make sure you check the options you really need. Overall, this is the best option for most online tax filers in my opinion.
The IRS also offers free online tax filing support and guidance via the Volunteer Income Tax Assistance (VITA) program offers. This service is offered free of charge for those who make less than certain annual adjusted income limits (see IRS site for details). The VITA program is staffed by IRS-certified volunteers. In addition to VITA, the Tax Counseling for the Elderly (TCE) program offers free tax help for all taxpayers, particularly those who are 60 years of age and older, specializing in questions about pensions and retirement-related issues unique to seniors.
While filing your tax returns for free is a great option for those with lower incomes and simpler tax situations, what you are really paying the tax software providers is for the online assistance guiding you through the process for figuring your taxes and getting the largest refund possible. You also get audit support if any issues are found with your filing – for an extra fee off course if not due to the tax software provider calculations. Given the premium advice and tips you can get from most tax software, the cost of the additional options is more than offset by the larger refund you will likely get.
Tax Season Filing Deadlines
Tax Filing Deadlines | Tax Related Activity |
|---|---|
| Jan 1st | First day to file a federal tax return, though the IRS generally will not accept e-file and free file returns until the date below. Even paper based filings won't be processed till later in the month |
| Feb 1st | 1099-G forms for reporting Unemployment Compensation and Taxes paid to you for the prior calendar year. Contact your state UI agency if not received by this date. |
| Feb 1st | Date by which you should have received a W-2 from employers you worked for during the tax year. If not, contact their HR/Payroll department to resend tax documents |
| Feb 1st | Deadline for 1099 statements (factors in your AGI income) that report non-employee compensation, bank interest, dividends and distributions from a retirement plan. This date is also the deadline for self-employed individuals to file and pay in full their fourth-quarter estimated tax payment |
| Feb 1st | Financial institutions (e.g Vanguard, Fidelity) must mail out 1099-B, 1099-S and 1099-MISC forms by this date. See what these forms are and if you will need one for your return |
| Feb 12th | IRS E-file to go live, allowing submission of electronic tax returns for the vast majority of tax filers. Paper tax returns will begin processing later in mid-February as IRS system updates continue (IRS recommends e-filing for faster refunds). [2021 update] This date is 2 to 3 weeks later than normal processing, due to system updates and processing of second stimulus checks. Will also delay refund processing schedule. |
| March 15 | S Corporation and Partnership tax returns due |
| *Tax Day* Last day for filing federal and state income tax returns and extension requests. Extended by the IRS from the normal April 15th date. | |
| Deadline for filing state income tax returns (for most states) and extension requests. Last day to make a contribution to a Traditional or Roth IRA, Health Savings Account (HSA), SEP-IRA or 401(k) | |
| FBAR (Foreign Bank Account Report) forms due for taxpayers who have signature authority over $10,000 in total in foreign bank accounts in the prior year. Laws enacted last year change the standard FBAR due date to "tax day" (vs June 30th as in years past). No extensions are allowed and forms must be filed electronically. | |
| September 15 | U.S. citizens or resident aliens living abroad must file tax returns and pay any taxes due by this date (or file for a four-month extension) |
| October 15 | Filing approved extended federal, state and S-Corp/Partnership income tax returns Note: you still need to file for an extension request by April 15th |
See this article for more information and comments.
2020 Tax Brackets (for returns filed in 2021)
Below are the tax tables for the current and next tax year
2020 Income Tax Brackets and Rates
| Tax Rate | Single Filers | Married Filing Jointly | Married, filing separately | Head of Household |
|---|---|---|---|---|
| 10% | Up to $9,875 | Up to $19,750 | Up to $9,875 | Up to $14,100 |
| 12% | $9,876 to $40,125 | $19,751 to $80,250 | $9,876 to $40,125 | $14,101 to $53,700 |
| 22% | $40,126 to $85,525 | $80,251 to $171,050 | $40,126 to $85,525 | $53,701 to $85,500 |
| 24% | $85,526 to $163,300 | $171,051 to $326,600 | $85,526 to $163,300 | $85,501 to $163,300 |
| 32% | $163,301 to $207,350 | $326,601 to $414,700 | $163,301 to $207,350 | $163,301 to $207,350 |
| 35% | $207,351 to $518,400 | $414,701 to $622,050 | $207,351 to $311,025 | $207,351 to $518,400 |
| 37% | $518,400+ | $622,050+ | $311,025+ | $518,400+ |
2021 Federal Taxable Income IRS Tax Brackets and Rates
| Tax Rate | Single Filers | Married Filing Jointly + SS | Married, filing separately | Head of Household |
|---|---|---|---|---|
| 10% | Up to $9,950 | Up to $19,900 | Up to $9,950 | Up to $14,200 |
| 12% | $9,951 to $40,525 | $19,901 to $81,050 | $9,951 to $40,525 | $14,201 to $54,200 |
| 22% | $40,526 to $86,375 | $81,051 to $172,750 | $40,526 to $86,375 | $54,201 to $86,350 |
| 24% | $86,376 to $164,925 | $172,751 to $329,850 | $86,376 to $164,925 | $86,351 to $164,900 |
| 32% | $164,926 to $209,425 | $329,851 to $418,850 | $164,926 to $209,425 | $164,901 to $209,400 |
| 35% | $209,426 to $523,600 | $418,851 to $628,300 | $209,426 to $314,150 | $209,401 to $523,600 |
| 37% | Over $523,600 | Over $628,300 | Over $314,150 | Over $523,600 |
| Standard Deduction | $12,550 | $25,100 | $12,550 | $18,800 |
See this article for more on the current and past year federal tax brackets.
Estimated IRS Refund Schedule
You can see more in this article which has several thousand comments on people having refund issues due to some of these reasons.
2020 IRS Tax Refund Processing Schedule in 2021
| Start Date Tax Return Accepted by IRS (WMR status = Return Received) | IRS Refund Accepted Week Ending Date (WMR status = Refund Approved) | Estimated Refund Date (via Direct Deposit) | Estimated Refund Date (via Paper Check) |
|---|---|---|---|
| February 12, 2021 | February 21, 2021 | March 5, 2021 | March 19, 2021 |
| February 22, 2021 | February 28, 2021 | March 12, 2021 | March 26, 2021 |
| March 1, 2021 | March 7, 2021 | March 19, 2021 | April 2, 2021 |
| March 8, 2021 | March 14, 2021 | March 26, 2021 | April 9, 2021 |
| March 15, 2021 | March 21, 2021 | April 2, 2021 | April 16, 2021 |
| March 22, 2021 | March 28, 2021 | April 9, 2021 | April 23, 2021 |
| March 29, 2021 | April 4, 2021 | April 16, 2021 | April 30, 2021 |
| April 5, 2021 | April 11, 2021 | April 23, 2021 | May 7, 2021 |
| April 12, 2021 | April 18, 2021 | April 30, 2021 | May 14, 2021 |
| April 19, 2021 | April 25, 2021 | May 7, 2021 | May 21, 2021 |
| April 26, 2021 | May 2, 2021 | May 14, 2021 | May 28, 2021 |
| May 3, 2021 | May 9, 2021 | May 21, 2021 | June 4, 2021 |
| May 10, 2021 | May 16, 2021 | May 28, 2021 | June 11, 2021 |
| May 17, 2021 | May 23, 2021 | June 4, 2021 | June 18, 2021 |
| May 24, 2021 | May 30, 2021 | June 11, 2021 | June 25, 2021 |
| May 31, 2021 | June 6, 2021 | June 18, 2021 | July 2, 2021 |
| June 7, 2021 | June 13, 2021 | June 25, 2021 | July 9, 2021 |
| June 14, 2021 | June 20, 2021 | July 2, 2021 | July 16, 2021 |
| June 21, 2021 | June 27, 2021 | July 9, 2021 | July 23, 2021 |
| June 28, 2021 | July 4, 2021 | July 16, 2021 | July 30, 2021 |
| July 5, 2021 | July 11, 2021 | July 23, 2021 | August 6, 2021 |
| July 12, 2021 | July 18, 2021 | July 30, 2021 | August 13, 2021 |
| July 19, 2021 | July 25, 2021 | August 6, 2021 | August 20, 2021 |
| July 26, 2021 | August 1, 2021 | August 13, 2021 | August 27, 2021 |
| August 2, 2021 | August 8, 2021 | August 20, 2021 | September 3, 2021 |
| August 9, 2021 | August 15, 2021 | August 27, 2021 | September 10, 2021 |
| August 16, 2021 | August 22, 2021 | September 3, 2021 | September 17, 2021 |
| August 23, 2021 | August 29, 2021 | September 10, 2021 | September 24, 2021 |
| August 30, 2021 | September 5, 2021 | September 17, 2021 | October 1, 2021 |
| September 6, 2021 | September 12, 2021 | September 24, 2021 | October 8, 2021 |
| September 13, 2021 | September 19, 2021 | October 1, 2021 | October 15, 2021 |
| September 20, 2021 | September 26, 2021 | October 8, 2021 | October 22, 2021 |
| September 27, 2021 | October 3, 2021 | October 15, 2021 | October 29, 2021 |
| October 4, 2021 | October 10, 2021 | October 22, 2021 | November 5, 2021 |
| October 11, 2021 | October 17, 2021 | October 29, 2021 | November 12, 2021 |
| October 18, 2021 | October 24, 2021 | November 5, 2021 | November 19, 2021 |
| October 25, 2021 | October 31, 2021 | November 12, 2021 | November 26, 2021 |
| November 1, 2021 | November 7, 2021 | November 19, 2021 | December 3, 2021 |
| November 8, 2021 | November 14, 2021 | November 26, 2021 | December 10, 2021 |
| November 15, 2021 | November 21, 2021 | December 3, 2021 | December 17, 2021 |
| November 22, 2021 | November 28, 2021 | December 10, 2021 | December 24, 2021 |
| November 29, 2021 | December 5, 2021 | December 17, 2021 | December 31, 2021 |
| December 6, 2021 | December 12, 2021 | December 24, 2021 | January 7, 2022 |
| December 13, 2021 | December 19, 2021 | December 31, 2021 | January 14, 2022 |
| December 20, 2021 | December 26, 2021 | January 7, 2022 | January 21, 2022 |
| December 27, 2021 | January 2, 2022 | January 14, 2022 | January 28, 2022 |
| January 3, 2022 | January 9, 2022 | January 21, 2022 | February 4, 2022 |
Tax Refund and Return Customer Service Numbers
| Some useful IRS Phone Numbers to Get More Information on Your Return and/or Refund | |
|---|---|
| Talk To a Live Person (800) 829-0582 Ext. 652 Tax Help Line (800) 829-1040 for human? press 1 for English, then 0, 0 again Refund Hotline (800) 829-1954 TeleTax (800) 829-4477 | Taxpayer Advocate Service Hotline 1-877-777-4778 Turbo Tax Customer Service Line (877) 908-7228 H&R Block Customer Service Line (800) 472-5625 |
Full disclosure : while I may get a small commission when you sign-up for the above links, which helps me keep this site running, I did not get paid to put the above providers not the list. I actually believe they are the best providers our there and the deals to be genuine. For more see my terms of use policy.
Its been over a month now since they given me this 151 code and no letter whats going on?
My husband did my taxes (like every year) and they were accepted. It said they were going to be deposited on the 4th of April but now it says they are processing … Is there a cause for this? Why would they go from accepted to processing?
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Can someone tell me what the minimum amount of income is to be eligible for the EIC?
See this article – > https://savingtoinvest.com/earned-income-tax-credit-eitc-qualification-and-income-threshold-limits/
$! to get some of the credit, but to get the full credit you need to meet the annually adjusted thresholds as shown in the article.
hi had a question how come i cant see the comments to talk about the refund any more when i tey to get on it brings e to the 2015 taxes comments
for the 2016 refunds
I hear that if you can order a transcript you will get your refund within 72 hours? I was able to order mine over the phone. Is this a good sign?
I ordered my transcript (refund transcript) on Saturday (02/20/16) – two weeks after filing (02/06/16). I had no problem ordering them; however, I didn’t get my tax refund yet. On the 27th it will be 21 days. I helped a friend file his taxes on the same day (02/06/16) and he got his refund last week. I always hate waiting, but it’s not looking like the “72 hour” rule really applies.
Also Waiting, Have you gotten anything yet?
I filled over two weeks ago and I still haven’t seen any change on the Wheres my IRS tax refund. Why is it taking so much longer for my taxes to be processed? I only had 1 income and 1 dependent.
See this article with more information on WMR – https://savingtoinvest.com/wmr-and-irs2go-status-differences-return-received-accepted-or-under-review-and-refund-approved-versus-refund-sent/
I lost my copy, of my taxes so that I can find out if it was mailed out yet or not. But I would need the amount to find it out. Cause I need to pay my rent for this mouth, I hop that you can help me cause I don’t need to be livining in the street. Thank you!
I bought my home in june 2010 I think as a vet its wrong I cant get a first time home owners tax credit served 8 yrs still missed it by 45 days there should be a wavier for people like me