{"id":5510,"date":"2020-12-30T17:21:14","date_gmt":"2020-12-31T01:21:14","guid":{"rendered":"https:\/\/www.costulessdirect.com\/?p=5510"},"modified":"2022-12-24T00:03:16","modified_gmt":"2022-12-24T00:03:16","slug":"online-tax-filing","status":"publish","type":"post","link":"https:\/\/www.costulessdirect.com\/blog\/online-tax-filing\/","title":{"rendered":"Tax Filing Season Is Here: Get Ready"},"content":{"rendered":"\n
The arrival of spring means much more than beach weather and spring-break. April 15th will be the official 2021 Tax Day (the last day to file tax returns), and it is a perfect moment to start preparing. Check out these Q&As to maximize potential tax refunds and minimize stress.<\/p>\n\n\n\n
In most cases, tax filing is required by law. On the other hand, tax filing makes you eligible for tax refunds, avoid extra charges, and protect your credit score.<\/p>\n\n\n\n
Whenever you have a new job, you have to fill a W-4 form. This form determines how much of your paycheck will be withheld and paid as taxes. Since payment withholding varies on a personal basis, you might over-or under-pay your fiscal obligations. Tax filing essentially means getting a record of the taxes you already paid to determine whether you overpaid and are owed a tax refund<\/a> or if you still have payments due.<\/p>\n\n\n\n The W-4 form’s information determines how much is withheld from your paycheck and is publicly available on the IRS website<\/a>. The first step is entering your personal information. Suppose you have several jobs or file jointly with your (also employed) spouse. In that case, you might need to use the online estimator offered at the IRS website to determine more or less how much you are liable to pay in taxes. Alternatively, you can also use the worksheet included in the form to roughly calculate how much should be withheld or submit two W-4 forms if you are working two jobs with similar pay.<\/p>\n\n\n\n Then, you write down how many people depend on your income. Finally, register any extra tax withheld from other income sources (such as dividends, pension, or interest), claim other deductions to reduce your withholding. After that, you need to sign it and make sure that your employer does too. <\/p>\n\n\n\nHow Do You Fill Out W-4 Forms?<\/h2>\n\n\n\n
How Much Do I Owe in Taxes?<\/h2>\n\n\n