Tax Return Issues to Keep in Mind for 2015: How Life Changes Affect Your Taxes

Taxes and healthcare plans often go hand in hand, and for good reason. The big talker here, especially with a tax return, is this is about money. Moolah. Dough. Presidential flashcards. That’s just the fact of life. But when we’re talking about, well, life — quality of life, per se — it makes perfect sense. The key to understanding this isn’t just to be prepared for any issues in your life that might occur, but also to let the IRS know immediately as you prepare your tax return, especially after reading this press release about the issue.

Your Health Coverage Credit May Change

The reason why it might change is the fact that you will undoubtedly go through changes in your life as you get older — as you get diseases, as you go to the doctor to find out that you have a dislocated shoulder, for example — that will affect your health insurance. You know what that does? It’ll affect your premium tax credit, so be aware of that.

What you need to do is report any changes to your healthcare exchange, receiving those advance adjusted credit payments ahead of time and preventing you from being saddled with those unexpected expenses for something you couldn’t control. What does this do for you? Simply put, it’ll prevent you from getting a smaller refund off your tax return, or even owing any money to the IRS at all. Take advantage, especially since you took the time to file that convenient 2-hour tax return already.

Some Life Changes That Could Affect Your Tax Credit

You shouldn’t just take a good look at your health either. There are plenty of other things that could happen, affecting your taxes. Again, the key point here is to let the IRS know immediately. Don’t wait. Don’t sit on your butt. Take action the way a doctor would pull the stethoscope out and check your heartbeat.
Some issues to report would include:
  • A New Birth
  • An Adoption
  • A New Marriage
  • An Unfortunate Divorce
  • Moving to a New House
  • Changing Jobs or Professions
  • A Drastic Difference in Your Income
It’s all basic observance. Preparation. Tax preparation, of course, as this press release does state about making it even more convenient to file your tax return.

That Way, You Can Let Your Speedy Tax Return Reap You Benefits

That’s one certain way to start off the new year with a bang, right? Good or bad, whatever changes happen to you, just remember: it might be an adjustment, but thanks to taxes, credits and a great place called the IRS, you just might come out on top with a bit more money for your refund. Cheers.

The Last 2015 Tax Return and Refund Issues You’ll Ever Consider: Old and New Tax Scams to Worry About

You might’ve read something about the IRS wanting to regulate certain tax preparers, and if that’s the case, you’re most likely wondering why. It can’t be that hard, this thing called ‘taxes.’ They’re just numbers! I dare you to try it. Try it. Try looking at all your figures, your annual income, and figure out this thing called ‘tax brackets,’ breaks and all that other lingo and jargon many certified public accountants would know (but not you).

Taxes Aren’t Fun, People. And Neither Are These Tax Scams.

Why do you think we try and hire tax guys to do it for us? Why do you think we get in on this service for speedy 2-hour tax returns? Why do you think we end up reading countless bits of material online, such as this one about tax preparation for efficient and accurate returns and refunds in 2015? Taxes may not be fun, but they’re essential, and not just because we could get that hefty direct deposit for Spring vacation purposes.
Because taxes are no joke, it’s pretty easy to get scammed into something without realizing it. We’ve seen it for years. The IRS is quite aware of it. In fact, the agency has an annual list of tax scams that one could call the “Dirty Dozen.” No joke.
“Dirty moviep” by Licensed under Fair use via Wikipedia –
For this year of 2015, though, know that the idea of the ‘tax scam’ is an evolving beast of mammoth proportions, so it would do you well to always check up with the Internal Revenue Service about what to look out for. The IRS did issue its first warning back in 2014 over a telephone tax scam, but since then, things have gotten worse. Don’t be fooled.
In particular, the new healthcare premium tax credit we’ll be looking at for 2015 is a healthy target for scams. Consult with a tax attorney, as usual, and speak with a professional about it. Whatever you do, never answer the phone and talk to a supposed ‘tax expert’ trying to determine just how much you owe the government.

Be on Your Guard About These 2015 Tax Return Scams

Nobody likes getting swindled. And remember to watch out for enemy targets out there in the battlefield.