Most Asked Questions

Your receipt of your Federal refund might be delayed to the end of February, 2017 if your tax return claimed a earned Income tax credit or the additional child tax credit. Here are some tips to help taxpayers with their refund questions:
Have the right tax information ready before using any of the IRS refund tools. This includes Social Security number, filing status and refund amount.
You don't need to check the IRS website “Where's My Refund” more than once a day as your information will not change. To avoid system delays, the best time to check on refunds is evening and weekends.
There is no need to call the IRS about your refund; the telephone service has the same information that is available on “Where’s My Refund”.

Go to the IRS website at http://www.irs.gov/Individuals/Order-a-Transcript to request a copy or transcript.

You can make monthly payments through an installment agreement if you're not financially able to pay your tax debt immediately.
Apply for an installment agreement •Apply online if you owe $50,000 or less in combined individual income tax, penalties and interest.
Go to http://www.irs.gov/Individuals/Online-Payment-Agreement-Application to apply for a payment agreement with the IRS.
Fees for setting up an installment agreement: •$52 for a direct debit agreement; •$105 for a standard agreement or payroll deduction agreement; or •$43 if your income is below a certain level.

To get an update on your tax refund call 1-800-829-4477.

The IRS will now begin accepting returns for tax year 2016 on Jan. 23, 2017.

When you make a settlement with a credit card company, the amount of forgiven or cancelled debt is considered income and is reported to the IRS. A 1099-C, or cancellation of debt tax notice, reports the amount of money you need to include on your tax return. For example, if you settle $50,000 in debt with your credit card company you might still owe the IRS $20,000 in taxes - and the IRS is not as forgiving as the credit card companies. *There is an exception for mortgage debt cancelled on your primary residence as this cancelled debt is not considered income.

To be able to deduct the interest and real estate taxes, your name must be on the mortgage as well as the title to the real estate property.

People often misunderstand what the $15,000 gift exclusion represents as gifts are not deductions on an income tax return. Instead, the $15,000 gift exclusion is the maximum amount you are allowed to gift to one individual without being required to file a gift tax return.

No, income averaging has not been around since 1986.