Category Archives: Tax Refunds

Tax Treatment of State and Local Tax Refunds

The Tax Cuts and Jobs Act (TCJA), enacted in December 2017, limited the itemized deduction for state and local taxes to $5,000 for a married person filing a separate return and $10,000 for all other tax filers. The limit applies to tax years 2018 to 2025.As in prior years, if a taxpayer chose the standard…
Read more

How to check your tax return status for free!

Have you ever wondered when your tax refund will arrive or what the status of your tax return is? The IRS features tools on their website that you allow you to get information abut your tax return. We are going to show you how to use the tools while breaking down some methods available.  The IRS has 2 online tools…
Read more

How and when do I need to amend my tax return?

Did you make any mistakes on your tax return? Did you forget to claim something that is deductible? There's nothing to worry about because you can send a new form that will help you claim the refund without getting in any trouble whatsoever. Luckily the IRS is familiar with taxpayers sending incorrect paperwork so all you…
Read more

Put Your Refund to Good Use

Put Your Refund to Good Use Are you expecting a tax refund from the IRS this year? Although it may be tempting to spend your refund on the newest electronic gadget, consider using it to meet one or more of your financial goals. Pay Down Debt Credit card debt can grow quickly if left unpaid.…
Read more