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80% of Americans get their tax refund direct deposited into their bank account. It’s the easiest, quickest, and safest way to get your tax refund. But what if you gave the IRS the wrong routing and bank account number, or if the account they have on file for you is now closed? Here’s what to do if your tax refund is being deposited into the wrong account.
Read MoreGraduations, birthdays, house warmings, birth of a new baby, are all occasions where you may want to shower your family with nice gifts or cash. But what you may not have known is giving large sums of money or expensive gifts to your family and not reporting it to the IRS could land you in jail. Before you start giving large gifts to your family, read these important tips about tax penalties.
Read MoreThere are several options for ensuring that you don't pay more taxes than you need to. You can save throughout the year and at the last minute, but when it comes to income taxes, a little planning goes a long way. Use these 6 strategies to maximize your returns throughout the year.
Read MoreStarting in Summer 2021, the Child Tax Credit was released to parents in increments to help families during the pandemic. The Child Tax Credit expansion was included in the Build Back Better Act and was said to benefit nearly 90% of children in the country. The legislation allowed for parents to receive up to $300 a month for each child under the age of six and $250 each month for each child between six and 17. These amounts made up half the total credit amount which means the other half will need to be claimed on your 2021 income tax return.
Read MoreThe average American receives a tax refund of $3,000. There are so many things you can do with that kind if money and even more things you shouldn’t be doing. Before you get your tax refund, let me tell you what you shouldn’t do with that nice chunk of change.
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