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April 2022

Photo of puzzled man holding papers illustrates blog: "Couldn't File Your Taxes by April 18? Here's What You Need to Know"

Couldn’t File Your Taxes by April 18? Here’s What You Need to Know

With Tax Day 2022 already in the books, it make sense to ask, What if you couldn’t find your taxes by April 18? In today’s posts, we give you the answers you need.

What To Do If You Couldn’t File Your Taxes by April 18

If you owe taxes and couldn’t file your return on time, the answer is pretty straightforward: file as soon as possible and pay as much as you can to limit penalties and interests. 

Some people didn’t file a return because they didn’t earn enough money to be required to do so. Even in that case there are good reasons to file, because this may allow them to receive a refund. 

There are some tax credits that allow you to receive money beyond what you owe. Some examples include:

  • Earned Income Child Credit
  • Child and Dependent Care Credit
  • Child Tax Credit
  • 2021 Recovery Rebate Credit

Feel free to contact the tax experts at JT Taxes to learn more about these credits and discover how to claim them. 

Remember: there’s no penalty for filing a refund after April 18 2022 if you are owed a refund. 

What To Do if You Can’t Pay Your Taxes

If you can’t pay your taxes in full, don’t worry — you have options.

Some taxpayers qualify for an online payment plan, which can be short-term (120 days or less) or long-term (more than 120 days), depending on how much you owe. 

Another alternative is an Offer in Compromise, an agreement between you and the IRS that allows you to pay an agreed-upon reduced amount of tax.

The bottom line is that there are tools you can use when you can’t file or pay your taxes on time. 

The trick is to be proactive and to work with dependable, knowledgeable tax professionals who are committed to helping you make sense of the tax system. 

File Your Taxes With JT Tax Services

At JT Taxes, we have made it our mission to take the stress of tax filing off your hands so you can focus on what matters most to you.

We maximize your refund and help you stay compliant with all applicable rules and laws. We are located in Oxnard, California. Contact us today by email (info@jttaxservices.com), telephone (805-984-8890), or through our social media accounts on Facebook, Twitter, and LinkedIn to schedule a consultation or to learn more about our wide array of tax services.

Photo of man smiling in office illustrates blog: "Did You File Your Tax Return Already? Here’s What To Do Next"

Did You File Your Tax Return Already? Here’s What To Do Next

Tax Day is only five days away! If you already filed your return, keep reading to discover the two things you should do next. 

Check the Status of Your Refund

If you are expecting a refund, use the online tool Where’s My Refund to track the status of your refund after filing your return.

You can use the tool 24 hours after filing electronically or four weeks after mailing your return. 

Keep in mind that the system is updated once a day, usually overnight. Avoid checking the status several times a day; this way you will limit the burden on the system, allowing other users to check the status of their refunds as well. 

Make Sure Your Withholding for 2022 Is Correct

All workers, self–employed individuals, and retirees who have wage income should check their tax withholding.

This is even more important if your tax refund was too big, too small, or if you received a surprise tax bill. All these situations mean that you need to adjust your withholding. 

The IRS also recommends taxpayers to check their withholding after an important life event such as marriage, divorce, the purchase of a house or the birth or adoption of a child. 

To check if the amount of tax withheld from your wages is correct, use the online tool Tax Withholding Estimator.

Here’s the information you need to use the Estimator:

  • Their most recent pay statements and if married, for their spouse,
  • Information for other sources of income and 
  • Their most recent income tax return, 2021, if possible

Of course, every taxpayer is different If your tax situation is particularly complex, or if you have specific questions, feel free to contact our experts at Delgado’s Insurance. 

We’ll be happy to offer assistance and help you find the best ways to maximize your refund while adhering to all applicable laws and regulations. 

JT Tax Services: Taxes Made Easy

At JT Taxes, we have made it our mission to take the stress of tax filing off your hands so you can focus on what matters most to you.

Contact us today by email (info@jttaxservices.com), telephone (805-984-8890), or through our social media accounts on Facebook, Twitter, and LinkedIn to schedule a consultation or to learn more about our wide array of tax services.

Drawing that shows computer, calculator and sheet of paper that reads "Tax Day" illustrates blog: "Your Ultimate Guide to Tax Day 2022"

Your Ultimate Guide to Tax Day 2022

Federal Tax Day is just 11 days away! From useful checklists to how to check the status of your refund and tips on how to ward off tax scam, this is your definitive guide to Tax Day 2022.

1. When Is Tax Day?

This year, Tax Day will be on Monday, April 18, 2022.

As you probably know, Tax Day is traditionally held on April 15. However, the District of Columbia observes Emancipation Day on April 16, which this year falls on a Saturday. As a consequence, the holiday will be celebrated on April 15, pushing Tax Day to the 18.

2. Make Sure to Get These Details Right

Want to avoid delays with your return? Make sure to double-check these details before filing:

  • Name
  • Date of birth
  • Social Security Number (SNN)
  • Filing status (single, married filing jointly, married filed separately, head of household, qualifying widow(er) with dependent child)
  • Your return must be signed and dated

3. What Happens if I Can’t File My Taxes on Time?

If you can’t file on time, you can request an extension to get an extra six months to file.

Remember, however, that an extension to file is NOT an extension to pay.  You still have to pay all or at least part of your estimated taxes by April 18.

To learn more, check out our previous blog, “Can’t File Your Taxes on Time? Here’s What To Do.”

4. What Happens if I Can’t Pay My Taxes in Full?

If you can’t pay all the taxes you owe, file your rate and pay at least a portion by the April 18 deadline. This way you will avoid the failure-to-pay penalty and will reduce interests on the unpaid balance. 

Talk with  a tax expert you trust to determine if you qualify for an online payment plan or for an installment agreement.

5. Checking the Status of Your Refund

Once your return is filed and your payment is made, you can check the status of your refund using the online tool Where’s My Refund.

You can start checking the status of your refund 24 hours after filing electronically or four weeks after mailing a paper return. 

6. Beware of Tax Scams

Every year, scammers take advantage of tax season to deceive unsuspecting victims. Stay safe by watching out for these red flags:

  • Someone contacts you by text or social media.
  • You are asked to pay a supposed tax bill urgently.
  • Someone threatens you with calling the police or immigration authorities if you don’t pay. 
  • They ask you to pay your taxes by using a specific payment method.
  • They ask you to settle your tax bill with gift cards. 

JT Tax Services: Tax Filing Made Easy

At JT Taxes, we have made it our mission to take the stress of tax filing off your hands so you can focus on what matters most to you.

Contact us today by email (info@jttaxservices.com), telephone (805-984-8890), or through our social media accounts on Facebook, Twitter, and LinkedIn to schedule a consultation or to learn more about our wide array of tax services.