What is return file in tax

In Maine and Massachusetts, the federal tax deadline is April 19, due to the Patriots' Day holiday. These deadlines do not apply to state and local tax returns.

To make sure you file those on time, find out the tax filing due dates in your state. If you owe money and do not file and pay your taxes on time, you will be charged interest and a late payment penalty. If you will be getting a refund, there is no penalty for filing a late return. The IRS will begin accepting and processing federal tax returns on January 24, To get your tax return started, you'll first need to find out how much money you made in Then you'll need to decide whether to take the standard deduction or itemize your return.

Finally, you'll need to submit everything by April 19, , if you live in Maine or Massachusetts or April 18, , for the rest of the country. Other earning and interest statements and INT forms. Here are some things taxpayers should consider when deciding whether to file a tax return: Find out the general reasons to file In most cases, income, filing status and age determine if a taxpayer must file a tax return. Look at tax withheld or paid Here are a few questions for taxpayers to ask themselves: Did the taxpayer's employer withhold federal income tax from their pay?

Did the taxpayer make estimated tax payments during the tax year? Did they overpay last year on their taxes and have it applied to their tax? Child tax credit or credit for other dependents Taxpayers can claim the child tax credit if they have a qualifying child under the age of 17 and meet other qualifications.

This includes people who have: Dependent children who are age 17 or older at the end of Parents or other qualifying individuals they support The Child-Related Tax Benefits page of IRS.

Education credits There are two higher education credits that reduce the amount of tax someone owes on their tax return. Recovery rebate credit Individuals who didn't qualify for a third Economic Impact Payment or got less than the full amount, may be eligible to claim the recovery rebate credit based on their tax year information. It expects most taxpayers receiving a refund should get it within 21 days of when they file electronically, assuming there are no issues with the return. Sign up now: Get smarter about your money and career with our weekly newsletter.

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