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TAX FAQs

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Smiling Businessman

How will I know if I need to file a tax return?

If you have gross income above the limit for your filing status, you must file a tax return.

Also, if income tax was withheld from your pay or other income, filing a return is always good idea even if it’s not required. This will allow you to get any refund the IRS owes you.

Unfortunately, if you are required to file a return and fail to do so, you risk being being penalized and accruing interest on any taxes owed.

Why should I choose to electronically file my taxes?

Due to COVID-19, the IRS is still trying to process over 1 Million paper files from last tax season. You can choose to paper file but most likely your refund will be delayed until after the IRS finishes processing last year's tax returns. Click here for more information: COVID TAX REFUND DELAY

Why do I need an AGI when electronically filing?

When self-preparing your own taxes, you may be requested by the IRS to verify your identity by providing last year's AGI. Click here for more information on the IRS.GOV page: PIN REQUEST

Which Filing Status is correct for me?

There are 5 different filing statuses that a taxpayer can choose.

  • Single

  • Married Filing Jointly

  • Married Filing Separately

  • Head of Household

  • Qualifying Widower

Use the interactive tool offered by the IRS to better understand your status. Then, call Nationwide Tax Pro to have your taxes prepared.

When are taxes due?

Typically, the tax filing deadline is on or around April 15th. If that day falls on a weekend or holiday, it then becomes the next business day.

Need to file an extension? Call our team today for assistance

What is the difference between a tax credit and a tax deduction?

A tax credit and a tax deduction can reduce the amount of tax you are required to pay. Credits are a reduction in the amount that you owe, while deductions reduce the amount of income you pay on taxes.

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