Entries by vcarrotozzolo

How long does it take to get my refund?

If you’ve filed your taxes and are entitled to a refund, the IRS gives you several options for receiving it. Check: When you mail your return to the IRS, you’ll generally receive your mailed refund check within 6 to 8 weeks. If you e-file your return, you should receive your refund check within 3 weeks. […]

Brokerages Must Report to IRS Cost Basis

Investors who forget what they paid for shares of stock will get help starting next year, courtesy of the Internal Revenue Service. That’s when the U.S. tax-collection agency will require brokerages to track the cost basis on equities bought after Jan. 1, and send taxpayers and the government an annual form recording it when investors […]

IRS Requirements for Receipts

Tax deductions are a big deal to both the Internal Revenue Service (IRS) and the individual. Taxpayers often consider the requirement of paying personal income taxes to be an onerous burden that can be greatly mitigated through the use of deductions. In recognition of this fact of life, the IRS has established a standard of […]

What types of educational expenses are deductible?

Some of the educational expenses you can deduct from your taxes are what you pay for tuition, costs of books and supplies, any laboratory fees you have and other items that can be considered necessary for your education. Expenses you incur for transportation and travel to attend your required classes are also deductible. If you […]

How to Request a Copy of My W-2 Tax Returns

All taxpayers who were classified as employees of any kind during the year must report the income that is shown on their W-2 Forms. This form is mailed to all employees during tax season so that they can file their taxes. Independent contractors do not receive this form. Give your employer at least a couple […]