Yes, the IRS no longer has a penalty for uninsured taxpayers starting 2019. However, CA picked up the slack and will now penalize residents if they don’t have coverage starting Jan 2020. “Effective January 1, 2020, California residents MUST obtain minimum essential health care coverage to avoid the new California individual health care mandate penalty…
Here are some things you should do to make tax season a little easier: 1) Find a special folder or box to collect all tax documents when they start snailing in in January/February. That way no matter who gets the mail, they know where to put the Important Tax Information. 2) Total up all your…
The W-4 form is what your employer/payroll department uses to calculate the withholding on your paycheck. It used to have you claim “exemptions” per person in your household. You probably remember claiming something like Single 3 or Married 4. Well those are the days of the past! The new forms are going to be a…
Did you owe taxes last year? Did your kid graduate college? Did you get married? or have a baby? Did you get a raise? These are all reasons to double check your withholding at work. If you don’t withhold at least 90% of your liability for the year (80% for 2018 due to the new…
Scams using the IRS as a lure continue. They take many different forms. The most common scams are phone calls and emails from thieves who pretend to be from the IRS. They use the IRS name, logo or a fake website to try to steal your money. They may try to steal your identity too….
The IRS has an estimated $1,000,000,000 (BBBBBillion!) dollars in owed tax refunds for people who have not yet filed their 2011 taxes. In CA alone, they have $92M of our hard earned money! The DEADLINE to claim you money is April 15th 2015! If you have not filed, contact a tax professional ASAP! Remember, there…
We all know that new tax regulations can cause hiccups when filing your tax return, and the new Covered CA/ObamaCare has been no different. Its been a challenge to correctly report the tax form 1095-A, especially when commingled with private insurance coverages throughout the year or for separate household members. But I don’t think anyone…
Most people file their tax return because they have to, but even if you are required to, there are times when you should. You may be eligible for a tax refund and not know it. Here are six tax tips to help you find out if you should file a tax return: General Filing Rules. …
IRS Newswire Issue Number: IR-2015-5 IRS YouTube Video: Tax Scams: English | Spanish | ASL Podcasts: English | Spanish WASHINGTON — Aggressive and threatening phone calls by criminals impersonating IRS agents remain near the top of the annual “Dirty Dozen” list of tax scams for the 2015 filing season, the Internal Revenue Service announced today. The…
For your 2014 tax return: If you did NOT use Covered CA/Market Place to obtain health insurance and/or have health insurance through your employer, there is only one question for you- Did you have health insurance for the entire year? If you DID use Covered CA/Market Place to obtain health insurance, you will receive a…
Copyright 2015