#Tax Penalties: Something We at #ITPN  Like to Avoid

Just so you know, we understand: you might think there won't be any tax refund in your immediate future despite having some income your way (maybe you're self-employed with no deductions or credits?). So you're hesitant to even file for a tax return for that exact reason. You may even rightfully think you won't be able to pay that tax bill!

We urge you to consider this: the tax penalties for not filing are much worse. Here's why: let's say you end up with a balance that you have to pay. Know that the IRS will work with you if you work with US. Penalties, though? Once you're hit, you're hit. And there's no getting out of it.

Always file your tax return. Because when you do, you've locked our services in for good, making sure your taxes are paid up through collaboration, installments, payments, communication (if they need to be). So sign up today with the Income Tax Planning Network!

10 Tax Return Tips to Accomplish With the Network

Actually, there should be 11 tax return tips here. But the first one is important. The first tip is to click on this article and READ.

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Tax Return Issues to Keep in Mind for 2015: How Life Changes Affect Your Taxes

Posted by wpadmin | Posted in RTO Homes | Posted on 23-01-2016

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Taxes and healthcare plans often go hand in hand, and for good reason. The big talker here, especially with a tax return, is this is about money. Moolah. Dough. Presidential flashcards. That’s just the fact of life. But when we’re talking about, well, life — quality of life, per se — it makes perfect sense. The key to understanding this isn’t just to be prepared for any issues in your life that might occur, but also to let the IRS know immediately as you prepare your tax return, especially after reading this press release about the issue.

Your Health Coverage Credit May Change

The reason why it might change is the fact that you will undoubtedly go through changes in your life as you get older — as you get diseases, as you go to the doctor to find out that you have a dislocated shoulder, for example — that will affect your health insurance. You know what that does? It’ll affect your premium tax credit, so be aware of that.

What you need to do is report any changes to your healthcare exchange, receiving those advance adjusted credit payments ahead of time and preventing you from being saddled with those unexpected expenses for something you couldn’t control. What does this do for you? Simply put, it’ll prevent you from getting a smaller refund off your tax return, or even owing any money to the IRS at all. Take advantage, especially since you took the time to file that convenient 2-hour tax return already.

Some Life Changes That Could Affect Your Tax Credit

You shouldn’t just take a good look at your health either. There are plenty of other things that could happen, affecting your taxes. Again, the key point here is to let the IRS know immediately. Don’t wait. Don’t sit on your butt. Take action the way a doctor would pull the stethoscope out and check your heartbeat.
Some issues to report would include:
  • A New Birth
  • An Adoption
  • A New Marriage
  • An Unfortunate Divorce
  • Moving to a New House
  • Changing Jobs or Professions
  • A Drastic Difference in Your Income
It’s all basic observance. Preparation. Tax preparation, of course, as this press release does state about making it even more convenient to file your tax return.

That Way, You Can Let Your Speedy Tax Return Reap You Benefits

That’s one certain way to start off the new year with a bang, right? Good or bad, whatever changes happen to you, just remember: it might be an adjustment, but thanks to taxes, credits and a great place called the IRS, you just might come out on top with a bit more money for your refund. Cheers.

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