Tax filing season to officially from January 23rd, 2017 

Washington – Internal Revenue Service has categorically stated that Tax filing season start on Jan 23, 2017. Yes, likewise, they have also made it clear that tax payers, who are expecting to get tax refund sooner, may have to wait for few days more. Tax filing season start Jan 23rd will mark as the day for IRS to start accepting electronic tax returns. Considering the massive strength of tax payers, it can go as high as 153 million. Likewise, tax payers are told to file their tax returns before April 18th which can also be termed as Tax filing deadline date. There has been full – fledged backend preparations done by IRS as they are soon going to start accepting applications which is said to be a herculean operation. Especially in the wake of online frauds which has been taking place on rampant basis. Yes, IRS is fully cautious on the front to ensure fool proof security mechanism to end any loopholes thus giving a sense of security to the tax payers in the process. The tax payers can e-file considering the rough estimate generated by IRS where the entity is of the opinion that 8 out of 10 tax papers will be filling electronically. Yes, in order to promote and to accept requests of such large group of tax papers doing e-file, IRS is upbeat and has already geared up with the latest technological inventions through putting in place tax return preparation software. Those who are filing through paper, infact gives to tax professional or entities who will infact be submitting to IRS with the Tax filing season...

How to Estimate Your Tax Refund 2016

How to Estimate Your Tax Refund Income tax filing can be a dreaded event for some taxpayers, but if you are expecting a tax refund, it’s a good idea to know how much you could be getting back. Estimate your Tax Refund today! The “Tax Refund Estimator” tax calculator can simplify the process for you and help provide a fairly reliable figure on your estimated tax refund. This tax calculator can also help you determine whether you’ve underpaid taxes for the year, and if so, how much you will owe the IRS on April 15th. If you’re getting a tax refund, this online calculator can help you plan how to use those funds most appropriately ― whether you want to pay-off some bills or start an investment account for yourself or your children. Use the “Tax Refund Estimator” to quickly and easily estimate how much you’ll be getting back as a tax refund, or whether you’ll need to pay Uncle Sam.  You will need to enter certain information into the tax calculator, including the items below. Tax Filing Status Choose your filing status from the tax calculator’s drop-down menu, which includes the same options as the IRS Form 1040 (single, head of household, married filing separately, or married filing jointly). Gross Annual Income Enter the amount of your gross annual income into the tax calculator. This refers to your total annual earnings ― including tips, bonuses, self-employment income, and any other wages before taxes are withheld. Qualified Plan / IRA Contribution If you are not participating in a plan sponsored by your employer (such as a SEP IRA, SIMPLE...