Reb Financialservices Fast Tax Prep

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Where is my refund?? PATH ACT update This message is being sent as a reminder that although February 15th is the date being published in many news stories as when the IRS will release EIC and ACTC related refunds, in reality today is when they begin the release process of those refunds. Please go here on the IRS website for more details including the following:... From the IRS website: Will I get my refund on Feb. 15? While the IRS will begin to issue EITC/ACTC refunds starting Feb. 15, you should not count on actually seeing your refund until the week of Feb. 27 -- if you chose direct deposit or a debit card and there are no processing issues with your tax return.

Tax tips- question & answer Filers it is critical that you provide all income earned for the tax period you are filing for! Some common questions I received are listed below for your reference.... Can I hold some of the income earned and file it next year? Unfortuantley you can not. Any income rather wages, non employee compensation, winnings or prizes, settlements or even gifts must be reported in the year which it was earned or received. Do I have to report Uber or Lyft earnings? Yes, you must report all income received in any given year including non employee 1099 income. Please wait to recieve your 1099 from Uber or Lyft before filing. Can you change my tax return once accepted by the IRS? Once a return has been accepted and filed you can not admend it electronically. This must be done manually and mailed to the irs. You must allow 12 weeks processing time. Will my refund amount change if reported income earned is omitted on my original filed tax return? Short answer is yes, it can impact your refund. The impact could be positive or negative. Usually when additional income is added and there are no other deductions to offset the new tax liability the impact will normally impact your original refund in a reduction and must be paid back to the IRS. Situations my vary. Can I claim a new born baby? No, all dependents must be living with the tax payer claiming the child as a dependent for 12 months to get the full child tax credit. If you claim a child and report them as living with you the entire year and the IRS request supporting documentation this could result in your earned income tax credit being disallowed. If I attended a college and had tuition expenses what do I need? Normally you would receive a 1098-t from the school. Sometimes these forms are provided electronically either through email or your student portal via internet under tax forms. Please check with your school financial aid office for further information. You can not claim the education tax credit without the supporting documentation. Hopefully this information has been helpful and will make your filing experience a pleasant one. Inbox us for specific questions pertaining to your tax situation. Have a great day!