Tax Tips

Tax Tips

Our experts will count down moves to make to lower your tax bill.

June 6, 2020

RMD Waiver + Stimulus Check = Tax Credit

For seniors who got a stimulus check of less than $1,200, not having to take a required minimum distribution from their retirement accounts this year could mean they'll get a tax credit next year.

See More On: Required Minimum Distributions (RMDs) | 401(k)s | IRAs

May 19, 2020

The Employee Retention Tax Credit Helps Keep Workers Working

The credit is worth up to $5,000 per paid employee for businesses financially harmed by the coronavirus pandemic that continue to keep employees on the payroll.

See More On: Tax Breaks | Business Costs & Regulation | Small Business

May 18, 2020

The IRS is Now Taking Phone Calls About Stimulus Checks (But Service is Limited)

You can finally talk to an IRS representative on the phone if you have stimulus check questions.

See More On: Tax Breaks | Tax Planning | Tax Prep & Filing

May 8, 2020

Don't Miss Today's Stimulus Check Direct Deposit Deadline (Hint: You Have Until Noon)

The IRS set a deadline for getting stimulus check payments by direct deposit. If you don't act by noon today, you'll receive a paper check (which takes longer to arrive).

See More On: Tax Breaks | Tax Prep & Filing

April 24, 2020

Is a Second Round of Stimulus Checks for $2,000 Each Month in Our Future?

Nancy Pelosi and other House Democrats are putting together the next stimulus package right now. They might include a proposal that has already been circulating in Congress to provide a second round of monthly stimulus checks.

See More On: Tax Breaks | Tax Planning

April 15, 2020

Where's My Stimulus Check? Use the IRS's "Get My Payment" Portal to Get an Answer

The IRS has a stimulus check portal that lets you track the status of your payment. You can also enter your bank account information to get your payment by direct deposit (but you need to act quickly).

See More On: Tax Prep & Filing | Tax Breaks

May 2, 2020

Where's My Paper Stimulus Check? Some People May Have to Wait Until September

The IRS is reportedly sending out 5 million paper checks per week. At that pace, some checks might not arrive for months.

See More On: Tax Breaks | Tax Planning

May 6, 2020

What to Do If You Get a Stimulus Check for a Dead Person

The IRS now has specific guidance on what to do if you receive a stimulus check for a deceased person.

See More On: Tax Breaks | Tax Planning | Tax Prep & Filing

May 6, 2020

Do People in Jail Get a Stimulus Check?

The IRS released guidance on what people incarcerated in jail or prison should do if they receive a stimulus check.

See More On: Tax Breaks | Tax Prep & Filing

May 5, 2020

What a Payroll Tax Cut Would Mean for You

President Trump wants to see a payroll tax cut in the next stimulus bill. Would you benefit from it and, if so, by how much?

See More On: Tax Breaks | Medicare | Politics

May 8, 2020

When is the Mississippi State Tax Return Deadline in 2020?

At one point the due date for filing your Mississippi income tax return was May 15, but it has been pushed back to a later date.

See More On: Tax Prep & Filing | Tax Planning

April 27, 2020

Some Veterans Can Get a Bigger Stimulus Check (If They Act Now)

If you receive VA benefits and have dependent children, you might be able to boost your stimulus check by $500 or more. But you have to act by May 5.

See More On: Tax Breaks | Tax Planning

April 27, 2020

SSI Recipients with Children Can Get a Larger Stimulus Check (But Quick Action is Required)

An extra $500 per child will be added to stimulus checks for disabled, blind, or elderly Supplemental Security Income recipients who didn't file a 2018 or 2019 tax return…if they beat an upcoming deadline.

See More On: Tax Breaks | Social Security | Tax Planning

April 26, 2020

Social Security Recipients Will Start Getting Stimulus Checks This Week

The IRS is using information from the Social Security Administration to process stimulus payments for people who didn't file a 2018 or 2019 tax return.

See More On: Tax Breaks | Social Security | Tax Planning

April 26, 2020

IRS Fixes Stimulus Check Portal (We Hope)

After three nights of maintenance outages, the IRS says its "Get My Payment" tool is now working better than ever.

See More On: Tax Breaks | Tax Planning | Tax Prep & Filing

April 23, 2020

Stimulus Check Portal to be Shut Down Evenings for Maintenance

With any luck, the IRS will fix the glitches with the "Get My Payment" tool that are preventing people from checking the status of their stimulus payment.

See More On: Tax Breaks | Tax Prep & Filing

April 22, 2020

Will You Have to Pay Back Any of Your Stimulus Check?

People who, for whatever reason, got a larger stimulus check payment then they expected have been wondering if paybacks will be required. The IRS finally answered the question for most people.

See More On: Tax Breaks | Tax Prep & Filing

Show More Stories