According to the IRS, about 75% of filers got a tax refund the year before, and the typical direct deposit tax return was nearly $3,000. However, you may be wondering, “why is my refund so low?” or you may believe you have not received the tax result they anticipated last year, or they may be questioning if there are any additional tax incentives available to help offset the effects of 2020.

Investing Tax refund

Here are several suggestions on how to max out the tax refund this year, regardless if you obtained the refund you earned, believe you might have gained more last year, or were influenced by the happenings of 2020.

With just a few weeks left to file taxes, the pressure is mounting. Nearly a quarter of all taxes are filed in the last two weeks, so don’t worry if you fall into that category. Everyone dreads the process. There is nothing fun about digging through old records, organizing under pressure, and possibly finding out how much you owe after the painstaking process.

If by chance you waited too long and are scrambling for time to get your documents in order, you can file for a 6-month extension, by filing form 4868 with IRS.

I did file our taxes for this year already. I hope you have done so as well. Filing tax return is probably the most important financial responsibility we have. If you haven’t done so, there are only two more days (when this blog post goes live). If you can’t complete the filing in next two days. You should ask for an extension.

In this post we will talk about some important aspects of tax extension. By regulation any one and every one can file for tax filing extension and there is no eligibility criteria. the applications that get rejected every year are basically due to data entry errors, not by qualification. If you feel you need some more time to gather the paper work, you should file for an extension.

I often mention about my biggest financial mistake till date, it was buying shares of a falling company while knowing it was too big to fail. When the company went in to bankruptcy, I lost a huge sum of money. That was the bad part. A not-so-bad part was the tax write-offs I claimed for next few years on that loss. This article is to remind you making note of all financial losses in 2013 and use them to lower tax burden.

If you haven’t done so, now is the time to file our annual tax return. There are two very important aspects you should understand before submitting your return this year.