Tax talk

Is alimony tax deductible?

Going through a divorce brings many challenges, including changes to your tax situation. When you’re lookin ...

Are summer camps tax deductible?

Summertime is usually associated with days by the pool, vacations, and backyard barbeques, but it’s also a wonderful time to think about how to save money on your taxes. While inflation has made op ...

What the debt ceiling deal means for student loan forgiveness

Student loan forgiveness has helped the tens of millions of people paying back student loans. On July 14, the Biden Administration announced that it will be forgiving some $39 billion in federal st ...

What Are Tax Brackets

Every year, the IRS provides information on the effective "tax brackets." This lets you know what percentage of your taxable income you will pay in taxes. Tax brackets are based on income and filin ...

How do rideshare (Uber and Lyft) drivers pay taxes?

365 days, thousands of conversations, and hundreds of car washes. Yes, it’s been a full year of making your own hours and helping others with theirs as a rideshare driver.

10 Reasons Your Tax Refund Might Shock You

Life changes like getting married or divorced, having or adopting children, and buying or selling a house have traditionally had an impact on your federal tax return. However, the 2023 tax season w ...

Top 5 Reasons to File Your Tax Return Early

Tax season can be a stressful time of year. However, if you qualify for a tax refund, it can be used to pay off bills and debt or add to your savings for a rainy day.

2022: How Your Tax Return Will Be Different This Year

A lot has changed for 2022 tax returns, which might cause refund shock if you’re not prepared for it, because you might get a smaller tax refund than you did last year. In fact, you could even owe ...

Tax Planning: Mid & Year-End Tax Saving Tips

2022 has been a very interesting year for taxpayers. Tax Day will likely look different for many of us, which is why smart tax planning and thinking ahead could really pay off.

Watch for these documents! Or risk a delay getting your refund.

The good news is, there are thousands of dollars’ worth of tax credits this year for eligible taxpayers. The bad news is, if you don’t file your returns correctly, the IRS could delay your refund. ...

5 Tax Breaks for Veterans

Did you know the IRS recognizes veterans’ deep sacrifice and commitment to our country with numerous tax breaks?

When you win the lottery, the IRS wins too.

In October 2021, one lucky Powerball winner took home nearly $700 million—and a big tax bill too. And so will you, if you win the lottery, win at the casino or racetrack, get lucky on sports bettin ...

5 Scariest Taxes (and how a Tax Pro can help)

Just in time for Halloween, frightening things you need to pay taxes on.

Child Tax Credit 2021: Eligibility and Payments

The Child Tax Credit (CTC) for 2021 has some important changes stemming from the American Rescue Plan (ARP). Learn what the changes are, who qualifies, payment amounts, and when those payments will ...

Tax Credits For Families: American Recovery Plan Act 2021

Are there any tax credits or deductions available to families impacted by Covid-19? What must be done to claim these benefits? We’ll discuss each of the benefits included in the American Recovery P ...

Mother’s Day Tax Tips for Moms

Moms, we know you’ve really been stretched to the limit this past year. Working from home while balancing duties as a schoolteacher, nurse, cook, playmate, and more is no easy feat. So stop, take a ...

When’s the Last Day to File 2017 Taxes for a Refund?

Life gets busy and things can be forgotten, even important things like filing federal income tax returns. There is a positive side: the federal government allows taxpayers up to three years to file ...

What is the Recovery Rebate Credit?

Most individuals have received all three of their Economic Impact Payments, better known as stimulus checks, by now. However, some taxpayers may not have received one or more of their stimulus chec ...

Expanding the Earned Income Tax Credit

In March, President Biden signed an emergency relief plan, the American Rescue Plan Act of 2021, that expanded and enhanced the Earned Income Tax Credit (EITC) for over 17 million working adults wi ...

Changes in Retirement Plan Contribution and Deductible Limits for 2020

We all know how important it is to save for retirement; and many of us work hard to contribute as much as we can. The inflation has left many strapped for cash and you may be tempted to reduce the ...

2020 Impact on Filing Tax Amendments

There are many changes taxpayers may have experienced over the past year, not just because of the pandemic but also due to normal life changes like getting married or divorced, having or adopting a ...

Covid-19 Tax Changes for the Unemployed in 2021

Were you unemployed in 2020? These tax opportunities may help reduce your tax burden or increase your refund.

Do Baseball Players Pay State Taxes? The Jock Tax and Other Facts

There’s nothing like the start of baseball season to give grownups a chance to feel like kids again. But for the players? It’s serious business. Another season means staying healthy, negotiating th ...

Texas, Oklahoma, and Louisiana Tax Deadline Extensions 2021

As a result of the 2021 winter storms in Texas, Oklahoma, and Louisiana and the resulting FEMA Disaster Area declaration, tax filers in these states will have until June 15, 2021 to file their 2020 ...

Tax Filing Deadline for 2020 Tax Returns Extended to May 17, 2021

On March 17, 2021, the U.S. Treasury Department and the Internal Revenue Service (IRS) announced that the federal income tax filing date for individuals has been extended from April 15, 2021 to May ...

American Rescue Plan Act of 2021: Frequently Asked Questions

A new COVID-19 economic relief package, named the American Rescue Plan Act of 2021 (ARPA) includes a third round of Economic Impact Payments (EIP), or stimulus, as well as changes to unemployment ...

American Rescue Plan Act of 2021: What You Need to Know

A sweeping new COVID-19 economic relief package was signed into law by President Biden on March 11, 2021.

Disaster Tax Relief in Disaster Areas

Year after year, natural disasters plague our nation and leave behind damaged or lost property. The federal government will designate certain areas affected by tornados, snowstorms, droughts, earth ...

6 Tax Myths That Could Cost at Tax Time

After a difficult year, many taxpayers could fall for common tax myths. Tax rumors, tax misinformation, and various myths are much more common than you may think. These can lead to costly errors fo ...

Second Stimulus Check Reconcilement: What You Need to Know

Is the stimulus check taxable? Do you have to pay it back? All your questions about the recent EIP answered.

The Difference Between Federal vs State Taxes

State and federal income taxes vary greatly from each other. Read on to learn about the difference and how it impacts you.

Filing Taxes in Two States

Multi-State taxes often appear complex. Working in different states leaves more room for error when filing state taxes. Whether taxpayers worked in one state and lived in another, lived in multiple ...

Tax Impact on Federal Employees

You may have heard rumors that federal government employees don’t pay the same taxes as other Americans. However, that is simply not true. While some of their pension and retirement plans are diff ...

CARES Act Extension & Impact On IRA, 401(k) & Retirement Withdrawals

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was created in response to the COVID-19 pandemic to provide aid, relief, and increased economic security to affected individuals. ...

New lookback provision for claiming Earned Income and Child Tax Credits on your 2020 taxes

Lookback Provision to Claim EITC and CTC on your 2020 Taxes

The year 2020 was one for the history books in many ways, and it’s not done delivering surprises even as tax season is under way in 2021. One pleasant surprise could be in store for many taxpayers ...

Here’s What You Need to Know About Gambling & Taxes

Here’s What You Need to Know About Gambling and Taxes

Lottery winners look happy and a bit dazed when they appear in the news, holding a big cardboard check scrawled with their winnings. Many say they can’t believe their good fortune. After all, they ...

What Happens If You Lie On Your Taxes?

It is a federal crime to commit tax fraud and you can be fined substantial penalties and face jail time. Lying on your tax return means you committed tax fraud.

Nervous for Tax Season? Get a Plan Together Now!

You may think Tax Day is months away and you don’t need to start planning, but we actually recommend you start preparation now. Not only will this avoid potential refund shock, you’ll also have a b ...

Covid-19 Economic Relief Package: Frequently Asked Questions about the Second Stimulus

An emergency COVID-19 economic relief bill was signed into law on December 27, 2020. Here’s what taxpayers need to know about the new law.

Coronavirus Economic Relief Package of December 2020: What You Need to Know

The much-anticipated emergency COVID-19 economic relief package was signed into law on December 27, 2020, after leaders of both parties in the U.S. Congress, along with the White House, reached an ...

Filing Taxes After Divorce

Going through a divorce brings many challenges, including changes to your tax filing status and tax situation. The National Law Review reports that during the current COVID-19 pandemic, divorce act ...

How Filing Separately or Jointly Impacts Married Couples Taxes

Filing your taxes might not be the first thing that comes to mind after getting married, but couples should know that marriage has an impact on your filing status options and how your income taxes ...

Looking for Part-Time or Seasonal Work?

The holidays may look different this year, but they are right around the corner, and many Americans are beginning to look for seasonal work because of the pandemic's economic impact.

Your guide for filing tax extensions

Doing your taxes for the first time may feel a little overwhelming, but we’ve got you covered. Read more to find out how we can help you decide what documents you will need, when the tax filing dea ...

Top 3 Tax Tips for Unemployment Benefits

The pandemic has left many people jobless, furloughed, and uncertain on where their next paycheck would come from. Unemployment benefits have been claimed at a record high, which has helped support ...

Covid-19 Unemployment & Tax Relief for Self-Employed, Freelance, and Gig Workers

Traditionally, freelancers and gig workers have been unable to claim unemployment benefits. Independent contractors and their clients don't pay into state unemployment funds by default. However, wi ...

$1.5 Billion in Tax Refunds Will Be Lost on July 15, 2020

Did you file a federal return in 2016? If not, you could be at risk of forfeiting your share of more than $1.5 billion in possible refund dollars. $1.5 billion is a LOT of money and the IRS is urgi ...

Father’s Day Tax Tips for Dad

Dads wear a lot of hats these days – businessman, teacher, cook, playmate and more. No one works harder to keep things fun and interesting as we shelter in place. This Father’s Day, we celebrate al ...

Required Minimum Distribution Rules (RMDs) and Penalties

Required Minimum Distribution (RMD) Deadlines and Penalties

Normally, taxpayers are required to withdraw an annual minimum distribution amount from their IRAs or certain pension plans once they reach age 72 (after December 31, 2019).

Coronavirus Relief for Small Businesses Under the CARES Act

Shutting down nonessential businesses may have been necessary to slow the coronavirus, but it’s nonetheless leaving staggering economic hardship in its wake. Recognizing the impending financial cri ...

Coronavirus Unemployment Benefits and the COVIDTRA 2020

In late December 2020, Congress passed the Omnibus Spending Bill which included the COVID Tax Reform Act of 2020 (COVIDTRA 2020). It’s an extension to the CARES Act designed to provide additional ...

Where is my stimulus money from the IRS?

Taxpayers are anxiously awaiting stimulus money from the IRS. During these unprecedented times, we know taxpayers could really use stimulus money to offset the economic hardship caused by the Coron ...

Ways to File with Jackson Hewitt

Though the Treasury Department and IRS recently deferred the national tax deadline from April 15, 2021 to May 17, 2021, Jackson Hewitt and its franchisees continue to create safe and easy ways to f ...

Social Security Recipients to Automatically Receive Stimulus Checks

The IRS will be depositing the second round of stimulus checks for all Americans receiving Social Security, Railroad Retirement, and Veteran’s Administration benefits into the same accounts as thei ...

An Important Stimulus Message from Jackson Hewitt

It’s easy to get lost in the growing sea of information regarding the fight against COVID-19 (Coronavirus). Here at Jackson Hewitt, one of our priorities is communicating clearly and openly about o ...

Coronavirus Stimulus Package: What You Need to Know

As the federal government manages its on-going and rapidly evolving response to the coronavirus epidemic, a variety of solutions including an additional $300 unemployment per week, an extension to ...

How will COVID-19 (Coronavirus) Affect the Tax Filing Deadline?

UPDATED ON: March 24, 2021 With the Federal Government’s national recommendation to stay at home affecting businesses across the country, it may be time to file your taxes if you haven’t already do ...

Education Changes in 2020

2020 is Bringing Some Much-Needed Updates to Education Savings Plans, Like Your 529 savings account.

Extended Deductions and Credits for 2020

Good news. You now have three more years to claim these popular deductions. At the end of December 2019, several very popular tax provisions were resurrected when the president signed the “Taxpayer ...

Avoiding an Audit

Why fear an audit? When you could help prevent it. The thought of the IRS combing through years of back tax returns is enough to send a shudder down anyone’s spine. And you try not to think about w ...

Don’t Abbreviate “2020” on Your Tax Return: Here’s Why

Yes, it’s true. Don’t abbreviate “2020” when writing the date. The new decade has barely begun and already we’re facing a new way to get scammed. The good news is that protecting yourself, your tax ...

How to Claim Your Pet on Your Taxes

A recent survey by the American Pet Products Association has revealed that owners of pets in the United States spent over $109.6 billion on their animals in 2021, a significant portion of which was ...

Presidents Day: Taxes Have Been Certain, But Far From Consistent

Complaining about taxes is as American as apple pie and goes all the way back to colonial days. So, this President’s Day, let’s take a look at our long and fascinating history with taxes.

The Most Common Deductions for Self-Employed Workers

With more people than ever becoming entrepreneurs, joining the gig economy, or starting a small business, it could pay to know how self-employment can impact your taxes. Running your own business p ...

IRS Audit Risk is Increasing in 2020: What You Need to Know

For years the Internal Revenue Service has been cutting back on audits due to a multitude of economic and technological reasons. And for a long time, the average taxpayer has been more than happy t ...

Top Five Life Events That Affect Your Tax Withholdings

As you go through life the only thing that remains constant is change. No one stays the same forever. You grow in age, responsibility, and financial stability – which means that with every life cha ...

10 End-of-Year Tax Planning Tips for 2019

Another year is almost over. That means the holiday season and family gatherings - which leave little time to change things that could help your 2022 taxes. So before ringing in the New Year, here ...

What’s Changed About the New 1040 Form Schedules for 2019?

Ever since you started working, you could count on one thing: Sitting down once a year to fill out your 1040 and file your taxes. Well, now the venerable old 1040 you know so well is changing. The ...

Renting vs. Buying a Home: Which is Better for Your Taxes?

Owning a home is part of the American Dream, isn’t it? Even with mortgage interest rates rising,high home prices and rising inflation, many people are pursuing homeownership. With all this going on ...

A Step-by-Step Guide to Filling Out 2020’s New W-4 Form

Don’t make the big mistake of dismissing the W-4 form as just “new-job paperwork.” Based on annual life and tax changes you should review your Form W-4 each year and update when necessary. Keeping ...

529 Plan vs. Coverdell Account Pros & Cons After Tax Reform

Back in 2017, when the Tax Cuts and Jobs Act (TCJA) was passed, it included a largely overlooked provision. But that provision has huge implications for parents of all school-age children.

How Belonging to a Union Impacts Your Tax Return

Happy Labor Day – a day when (most) hardworking Americans get the chance to kick back, relax, and – hopefully – forget about the rigors of the working world for just a little bit. Maybe you’re hitt ...

How Donating Clothing Could Earn You a Tax Deduction

Fall is a great time of year to get organized and accomplish some deep cleaning. School has started, the weather’s lovely – what better time to get organized and, in doing so, potentially save a fe ...

How to Pay Back Taxes You Owe to the IRS

What are back taxes?

Five Steps to Take if You Owe Taxes and Can’t Pay

What to do when you owe taxes and can't pay

If you owe taxes and don’t pay them, you could face IRS collection, including liens, levies, and even passp ...

How Much Do I Owe the IRS? How to Find Out if You Owe Back Taxes

Collection FAQs

The amount that the IRS says I owe on my taxes is wrong, what should I do?

How to Apply for Tax Debt Relief or Forgiveness from the IRS

The good news? Tax debt relief is possible. The not-so-good news? Not everyone qualifies for a settlement, but there are several options to explore and consider. The IRS offers a variety of tax deb ...

Your 5 Step Guide to Surviving an IRS Audit

If you’ve received a notice from the IRS about a tax audit, you’re probably feeling a bit dizzy right now. First, don’t panic – most audits are done by mail, and there are some immediate steps you ...

Are you withholding enough from your paycheck?

Paycheck withholdings represent a huge part of how most American workers pay income tax and can help determine an employee’s tax liability each year. If you’re currently working through your taxes, ...

How to Handle Taxes for Summer Jobs and Seasonal Work

How to handle taxes for summer jobs & seasonal work

Warm weather, sunny days, and more daylight can make summer a great time to earn extra money. Summer jobs can range from driving for a rideshare service to working shifts at your local restaurant o ...

Tax Tips & Deductions for Salon Owners

Social media is full of gorgeous men and women whose looks we want to emulate. So, we turn to you, our local hairstylist, barber or cosmetologist to magically transform us. And you go to work – was ...

How to Report Tip Income on Your Taxes

In honor of National Doughnut Day, we’re talking tips and taxes – so let’s jump in and walk you through how to keep track of, claim, and report tip income.

Will the 'Game of Thrones' Heir Still Be a Winner When it Comes to Taxes?

Chances are, the Westeros Revenue Service (WRS) has its eye on that dagger, Catspaw, for gift taxes; and what with all the deaths that have occurred, don't get us started on estate taxes.

Tax Identity Theft: What to Do if You’ve Been Targeted

The process of filing taxes every year takes plenty of time and effort even if everything goes perfectly. A ...

$1.4 Billion in Tax Refunds Could be Yours

Could Some of the $1.4 Billion in Unclaimed Tax Refunds be Yours?

Have you ever dreamt that you found an unexpected source of cash only to wake up and find it was all an ill ...

What You Need To Know About The Government Shutdown

After a 35-day shutdown, the government has been reopened until February 15. Tax season is here and the IRS is accepting returns. We know that you have questions about how the shutdown will impact ...

Eight Tax Deductions Being Changed or Phased Out for the 2019 Tax Season

Eight Tax Deductions That Are Being Changed or Phased Out for the 2019 Tax Season

Tax law is constantly evolving and, for the most part, that’s a good thing! However, keeping up with the changes from year to year can be quite a headache, especially when you were counting on a de ...

What Are You Using Your Tax Refund For?

For many Americans, getting a long-awaited tax refund can be the biggest, most significant financial transaction of the year – and many taxpayers plan on putting theirs to good use. According to a ...

How to Tell if You’re Being Targeted by a Tax Scammer

While tax scams are prevalent throughout the year, their frequency picks up steam in the late winter and early spring – the months leading up to tax-filing deadlines. With filing season just around ...

How to Make the Most Out of Your Charitable Contributions This Year

As the end of the year approaches, many American taxpayers are doing what they can to ensure they’ll see the biggest refund possible when they file their taxes in 2019. For some, this means maxing ...

What is the Earned Income Tax Credit (EITC), or EIC?

In 2021, the average amount of Earned Income Tax Credit received per tax return nationwide was nearly $2,400. Imagine not cashing a check for that much! That’s essentially what taxpayers who don’t ...

End of Year Tax Tips – 2018 Tax Year

Have you wondered how much you’ve overpaid in taxes this year? If so, you likely want to do all you can to get as big a refund (or pay as little) as possible. As we inch closer to the end of 2018, ...

What Can Make My Taxes Go Up?

Many of the changes to the tax code from the recently passed Tax Cuts and Jobs Act (TCJA) are taking effect in 2018 – which could impact your finances in a big way. Maybe you’ve already noticed a c ...

Can I File My Taxes on a Postcard?

A major promise around the passage of the Tax Cuts and Jobs Act last December involved making filing taxes simpler for American taxpayers. However, despite what you may have heard, most Americans a ...

Education and Tax Reform

As summer draws to a close and the school year looms, parents everywhere are gearing up to send their kids back to school. But as you’re watching supplies flying off the shelves while parents scuff ...

Spring Tax Checklist for Small Business

Although April 17 has come and gone, it’s a great time to go through a Spring Tax Checklist to keep you, and your small business, on track while avoiding compounding penalties. Breaking up your bus ...

What to Do if You Receive a Notice or Letter From the IRS

Receiving any correspondence from the IRS can instantly strike fear in the heart of most. You have to admit that one would naturally get a little nervous when you see that the Treasury department w ...

Need More Time? Here’s What You Need to Know to File a Federal Tax Extension

You started the year determined to get your tax return completed way before the deadline. Then life happened and filing your taxes almost became an after-thought. Even though we’re a few weeks away ...

Tax Tips for Natural Disaster Victims

Recovering from Mother Nature’s catastrophes is never easy. With a number of federal declared disasters from hurricanes and tornadoes, to severe storms and flooding, and wildfires, loss victims cou ...

Hurry! There’s Still Time to File Your 2017 Income Tax Return

Tax Day is just a few weeks away, but you still have a little time left to get your return filed to Uncle Sam. Some people say they work best under pressure and choose to procrastinate; don’t ignor ...

Take Credit for Your Retirement Contributions

If you would rather spend your weekends researching travel destinations than IRA options, you aren't alone. According to research, most people spend more time planning where to go on vacation or wh ...

It’s March – Do You Know Where Your Tax Refund Is?

Understandably, the most common question taxpayers have is: “Where’s my refund?” If you are due a refund from your federal or state taxes, you'll want to know when you can expect that direct deposi ...

When Should You File Your Taxes? Now. As in Right Now!

What may be your biggest paycheck of the year is on the horizon! Tax season officially begins in Jan, when the IRS started accepting returns for the 2022 tax year. By taking advantage of every poss ...

Don’t Miss Out on These Top Seven 1099-Reporting Deductions

The sharing economy can be lucrative! More and more people are entering the sharing economy at a record pace. Whether ridesharing such as Uber or Lyft, apartment- or house-renting using Airbnb, cro ...

Are You Eligible for One of the Biggest Tax Credits Available?

You may be missing out on thousands of dollars in tax credits without even knowing it. According to the IRS, one in five eligible people miss out on claiming the Earned Income Tax Credit (EITC) eac ...

Six Tax-Prep Tips for Your Best Tax Return

While you’re thinking about resolutions to improve your health, or making professional strides for the New Year, don’t forget about your financial well-being. It’s time to start getting organized a ...

File Your Tax Return with a Tax Pro to Maximize Your Refund

“Hire a professional,” is great advice that applies to your taxes, too. Jackson Hewitt Tax Pros know the ins and outs of the tax code, so they can catch missed deductions or credits that put your m ...

2017 Tax Reform

The 2017 Tax Cuts and Jobs Act is the most extensive update to the US tax code in more than 30 years. The bill made major changes to the tax code for individuals and businesses and provides sweepin ...

Use It or Lose It: Spend Your 2017 FSA Money

It’s your money. It’s your hard-earned, pretax dollars sitting in an account. It’s yours… but only for a limited amount of time. That’s the gift and the curse of a Flexible Spending Account (FSA). ...

Only You Can Prevent Tax Refund Fraud

Well, maybe not only you, but a large part of the prevention starts with you. We live in an increasingly digital world, and there is no turning back – not that we’d want to, anyway; everyday tasks ...