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You’ve filed your taxes -- now, what should you do with those documents?
Read full article: You’ve filed your taxes -- now, what should you do with those documents?If you’ve finally gotten your taxes filed, you’re probably ready to put it all away and move on. Have you considered which documents you should keep? And for how long?
Tax season: Answering pandemic tax questions
Read full article: Tax season: Answering pandemic tax questionsHank Winchester is Local 4's Consumer Investigative Reporter and the head of WDIV's "Help Me Hank" Consumer Unit. He works to solve consumer complaints, reveal important recalls and track down thieves who have ripped off metro Detroiters.
Michigan to begin processing individual income tax returns mid-Feb.
Read full article: Michigan to begin processing individual income tax returns mid-Feb.Business men work with calculator and laptop on the white table at officeThe state of Michigan will process individual income tax returns beginning Friday, Feb. 12, officials announced Wednesday. The Michigan Department of Treasury says it will begin processing state income tax returns at the same time the IRS does -- on Feb. 12. “We coordinate with the IRS to process tax returns and issue refunds,” said State Treasurer Rachael Eubanks. Michigan income tax returns and payments of taxes owed must be received by the state by April 15, 2021. You can learn more about individual income tax in Michigan at the treasury’s website here.
If you made $72K or less then you can file your federal taxes for free online
Read full article: If you made $72K or less then you can file your federal taxes for free onlineDid you know that 70 percent of Americans are eligible to file their federal taxes for free online? If your adjusted gross income (AGI) was $72,000 or less than you can use one of the Free File IRS partner offers. Are you one of the 70% of Americans eligible to file your taxes for free online using one of the Free File IRS partner offers? IRSREAD: The IRS has made changes to the tax bracket -- here’s what it will mean for youAbout the IRS Free File ProgramIRS Free File is a partnership between the IRS and the Free File Alliance. The Free File Alliance is a group of private-sector tax preparation companies that agreed to provide free commercial online tax preparation and electronic filing.
Heres what to do if you missed Michigans income tax return filing deadline on July 15
Read full article: Heres what to do if you missed Michigans income tax return filing deadline on July 15Individual income tax returns were supposed to be filed by July 15 in Michigan -- an-already extended deadline amid the coronavirus (COVID-19) pandemic. State income tax returns can be claimed within four years. For Michigan tax filers who missed the July 15 deadline, the state treasury listed the following actions to consider:Filing a return to claim an outstanding refund. Taxpayers risk losing their state income tax refund if they dont file a return within four years from the due date of the original return. For more information or an application, visit www.michigan.gov/oicOfficials say the last three options listed above should be filed separately from the state income tax return.
Income tax filing deadline moved to July 15: What does it all mean?
Read full article: Income tax filing deadline moved to July 15: What does it all mean?WASHINGTON – The income tax filing date has been pushed back from April 15, to July 15, Treasury Secretary Steven Mnuchin said late last week. Mnuchin announced the decision in a tweet Friday, saying that at President Donald Trump’s direction, “We are moving Tax Day from April 15 to July 15. The delay is available to people who owe $1 million or less and corporations that owe $10 million or less. It is expected that many states will follow the lead of the federal government and delay their tax filing deadlines as well but that will be a state by state decision. The administration is working with Congress to develop a $1 trillion support package and Mnuchin has said the IRS payment delay will add $300 billion to that effort.
Mnuchin: Income tax filing deadline moved from April 15 to July 15
Read full article: Mnuchin: Income tax filing deadline moved from April 15 to July 15WASHINGTON – United States Secretary of the Treasury announced Friday that the income tax filing deadline will be moved from April 15 to July 15. “All taxpayers and businesses will have this additional time to file and make payments without interest or penalties,” Secretary Mnuchin announced. At @realDonaldTrump’s direction, we are moving Tax Day from April 15 to July 15. All taxpayers and businesses will have this additional time to file and make payments without interest or penalties. — Steven Mnuchin (@stevenmnuchin1) March 20, 2020The administration had announced earlier in the week that it would delay the payments, a move that Mnuchin said would leave $300 billion in the economy at a critical time.