Well, we’re halfway through July, and it’s safe to say the heat’s not going anywhere soon. Summer is in full swing, and the last thing on your mind is your taxes. But we’re here to suggest that you set aside an afternoon to take advantage of some of these tax tips for the off-season that could save you time, money, and headaches come next April:
If You Still Owe Taxes
You’ll know if you still owe the IRS a tax payment if they send you a bill by postal mail. If you get a call or email demanding that you owe the IRS money, do not give them any information; it’s probably a scam. If you really do owe the IRS, they’ve provided some ways to help you make your payment:
- Using IRS Direct Pay, which you can access by clicking “Payment” on the IRS website, so you don’t have to worry about mailing payments.
- The IRS also offers payments plans, installment agreements, and offers in compromise, which you can apply for online to help you make your payments.
Did you know that if you’re in the US Armed Forces, special circumstances can apply to your taxes? You could be able to claim a lower tax if certain rules apply to your deductions or credits, and some types of pay may not even be taxable. You’re also eligible for some deadline extensions and other “tax perks” as an appreciation gesture for your service, like:
- Combat pay exclusions,
- Moving expense deductions,
- Earned Income Tax Credit (EITC),
- Reservists’ travel deductions,
- Uniform deductions,
- ROTC allowances,
- Civilian life deductions,
- and IRS tax help.
Summer is definitely the time for weddings. And if you get married this summer, there are a few things to take care of before you do your taxes next year. You’ll need to make the IRS aware of any name or address changes, as well as any changes in your tax withholding, health insurance circumstances, filing status, and usual tax form.
Be sure to check back with ExpressIRSForms for more tax and e-filing tips! And if you have a business you need to handle 1099s, W-2s, ACA forms, or W-9s for, we’re your program! Check out www.ExpressIRSForms.com for more info. We’re also available by phone to take your questions, Monday through Friday, 9:00 a.m. to 6:00 p.m. EDT, at (704) 684-4751.