Monthly Archives: October 2016

Free File Your 2015 IRS Taxes #online #survey #income

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Free File Your 2015 Taxes

It is estimated that 70% of taxpayers are eligible to free file their IRS tax returns online. Yet, many of them don’t take advantage of this, even though it is free.

Filing online, or “e-filing”, reduces the number of errors, helps filers prepare their return faster and get a refund back sooner than paper filing. To find out if you are eligible to free file your 2015 taxes and help speed up your refund, answer these simple questions, here.

Why is it FREE to File Your Taxes?

In the early 2000’s the IRS recognized that filers needed a way to electronically file their tax returns and while a few private companies offered this, they charged consumers for this service. The IRS sought to launch a free filing service so tax filers could e-file their tax returns free of charge. Knowing that any government launched initiative could take years to complete, they worked with private companies to form the Free File Alliance. The Free File Alliance would offer filers who met certain income criteria a free option to filing their taxes.

As it stands, 20 different private companies are involved with the Free File Alliance. Each of these companies offers a free file version of their tax-filing service that allows users to file their tax returns for free. To view a list of the 20 different companies click here.

It is important to note that FreeFile.com is a private, for-profit website and not in any way endorsed by the Internal Revenue Service (IRS) or the Free File Alliance.


Your access to this site has been limited #1040ez #online #filing

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Your access to this site has been limited

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If you’re still having trouble, then simply disable the Wordfence firewall and you will still benefit from the other security features that Wordfence provides.

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What is life insurance? definition and meaning #group #life #insurance

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life insurance

Insurance cover that serves two major purposes: (1) to substitute for the insured’s income if he or she dies, and (2) to qualify the insured for favorable tax treatment. The policy holders buy insurance cover from an insurance company. and pay specific periodic amounts (premiums) for the term (duration or life) of the policy. If the insured dies before the this term is completed. a guaranteed sum (the face amount of the policy) is paid to one or more named beneficiaries. If the insured survives the term then, depending on the type of the policy, he or she may receive the full or a part of the face amount of the policy.

For young families, a life insurance policy creates an ‘instant estate’ before they have enough time to accumulate other assets. And it provides liquidity to the named beneficiary (or beneficiaries) long before the deceased’s estate matters (which often call for substantial expense) are settled. Four main types of life insurance policies are (1) Term life insurance. (2) Whole life insurance. (3) Endowment life policy, and (4) Annuity. Life insurance has its origins in the old practice of saving money for one’s own funeral costs. and is called also life assurance.

  • Some companies will offer life insurance as a benefit so that the employees know their family will be taken care of if there is an emergency.
  • I took out a life insurance on myself so that in the case of my death, my family will be taken care of as well as the funeral costs.
  • David always worried what would happen to his family if he were gone so he purchased a substantial life insurance policy to be sure that they would be taken care of if anything ever happened to him.

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Efile, File Tax Extension Form 4868 or State Extension #social #security #income #limits

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How to file a Federal, IRS Tax Return Extension Form 4868

Do NOT efile a Tax Extension if you have everything you need to do your taxes; preparing and efiling a Tax Return will save you time and money.

When Should I Prepare and efile a Tax Extension?

You should efile a federal tax extension for Tax Year 2015 by April 18, 2016, the same day as the deadline to efile a 2015 Tax Return. If you efile a tax extension, your new deadline to efile a 2015 Tax Return will be October 17, 2016. After October 17, 2016 you can still prepare your tax return on efile.com, but you will need to print and mail it.

Tax Tip: If you owe taxes, but you have missed the deadline to efile an extension, you should efile your tax return now to avoid further penalties, fees and interest .

After April 18, 2016 you can no longer efile a tax extension. You will still be able to prepare and efile a tax return past the deadline. You can start and efile a tax return on efile.com by Tax Day. Before you efile, know the tax amount you owe. Once your tax return has been accepted by the IRS you can make changes to this return by filing a tax amendment and download Form 1040X. There is no deadline to amend a tax return, but there is a 3 year limit on claiming tax refunds. If you efile a tax extension, your new deadline to efile a 2015 Tax Return will be October 17, 2016 .

Tax Tip: It takes almost as much time to efile a tax extension as it takes to start and efile a tax return, so you may as well prepare your return with the information you have and efile on time. Even if you don t have all your tax information by April 18, you can amend your tax return at any time, and you have up to 3 years after the original filing deadline to claim a tax refund .

Can I efile or file a tax extension for a previous Tax Year?

Tax extensions are due on Tax Day every Tax Year. After that date, the IRS will no longer accept extension requests for that Tax Year. For example, after April 18, 2016, you can no longer file or efile an extension for your 2015 tax return.

If you have not filed a tax return for a previous Tax Year, we recommend that you file the return as soon as possible and pay as much as you can.

I cannot pay my taxes in full-should I file or efile a tax extension?

Even if you do not have the money to pay the taxes you owe you should efile a tax extension or tax return. The potential IRS fees and penalties for not efiling anything are going to be larger than on the taxes owed. So, pay as much or as little as you can but do efile an extension or tax return. The IRS will most likely add penalties and/or interest to the late payments.

Find Out How Much You Owe in Taxes

Option 2: Start a tax return on efile.com. Before you efile the return, you will know whether you owe taxes based on all the tax information you entered.

You should file your tax return by the time it is due, regardless of whether or not a full payment can be made with the return. Depending on your circumstances, you may qualify for an IRS payment plan .

Please contact efile.com with any questions about tax extensions.

I missed the deadline for filing an extension-What should I do?

We recommend that you file your tax return as soon as possible and pay as much as you can to avoid further late filing and/or payment penalties. If you are expecting a refund, you will not face a late filing penalty.

Important: Click the button below to get started on your 2015 Tax Return.

How Do I efile or File an Extension?

You can no longer file or efile an extension for 2015 Tax Returns.

What do I do If I missed the extension deadline?

What Are the Potential IRS Penalties for Not Filing a Tax Extension or Return After the Deadline?

Failure to efile/file a tax return or an IRS federal tax extension by April 18 can be costly. If taxes are owed, a delay in filing may result in penalty and interest charges that could increase your tax bill by 25 percent or more. There is no penalty for the late filing of a return on which a refund is given except for the delay of your refund. If you do not file (or efile) and/or pay your taxes on time, you may be subject to IRS penalties .

Important: The only way to avoid penalties is to efile or file a tax return and pay all taxes due by April 18 .

A Note on IRS Interest: In case you have unpaid taxes for this or a previous Tax Year, you might owe tax penalties and interest.

Are there penalties if I expect a Tax Refund but do not file on time? No, there is no tax penalty for failure to efile a tax return or tax extension if you expect a federal or state tax refund. However, by waiting too long to efile you can lose your refund. Please be aware that your return must be filed/efiled within three years of the due date.

Can t pay the taxes you owe. Explore options to help you ease your tax burden now.

How Do I File a State Tax Extension?

The requirements for filing a state tax extension vary from state to state. They mostly relate to tax extension filing deadlines, tax payment rules, or certain tax extension forms to fill out (or not, in some states cases). However, in general, most states follow the deadline to file a federal tax return extension.

What is the Automatic Tax Extension for U.S. Citizens and Residents Living Abroad?

If you are a U.S. resident living outside of the country on Tax Day. and your main place of business is outside of the U.S. you automatically receive a 2-month extension of time to file your return and time to pay any income taxes you may owe. You will still owe interest on any unpaid taxes after April 18, but you will not be subject to late payment penalties or late filing penalties until June 15, 2016.

You do not have to file any forms in advance to get this 2-month extension, but you will need to file your return on paper and attach a statement explaining why you qualify for the extension.

Can I File An Additional Extension If I Live or Work Overseas?

You can obtain an additional 4-month extension of (to October 17, 2016 ) by filing Form 4868. After April 18, you will need to prepare and file the form on paper (since the IRS will stop accepting extensions after that date). Make sure that you sign the form and check off the box indicating that you were out of the country on Tax Day before you mail it to the IRS. Be aware that any owed taxes, penalties and interest will apply after June 15.

What is the Automatic Tax Extension for the Military?

If you are a member of the Armed Forces stationed outside of the United States (and Puerto Rico) at the time of your tax deadline (April 18 ) then you will automatically receive a 2-month extension of time to file your tax return. Please note that this automatic extension is not an extension of time to pay any tax owed by the regular due date of the return. Therefore, interest is charged on any taxes owed from April 18 to the date the taxes are paid.

You can get an additional extension to October 17, 2016 by using Form 4868.

If you are a member of the Armed Forces on active duty in an officially designated combat zone (or contingency operation) on April 18. you will receive an automatic extension of time to file and time to pay. The extension will be for 180 days plus the number of days you had left to file when you entered service in the combat zone.

What Do I Do If My Tax Extension Was Rejected?

We recommend that you just get started on your 2015 Tax Return. There is no penalty for filing late if you are getting a tax refund. If you owe taxes you should efile your tax return now to avoid the worst penalties even if you can t pay your taxes right now.

TIP: Make a tax payment as soon as possible.

  • Because your extension was rejected the tax payment you set up did not go through. As soon as possible, you should make a payment to avoid IRS penalties.
    • You can mail a payment with your tax extension. Instructions are on the form.
    • You can make an online payment directly from your bank account, or with a credit card or debit card. Find out how to make online payments .

Please don t hesitate to contact us if we can assist you.

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Kansas Income Taxes – KS State Tax Forms, Refund, Facts #income #tax #tax

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Kansas Income Taxes and KS State Tax Forms

Prepare and efile Your Kansas Tax Return

The efile.com tax software makes it easy for you to efile your state tax return and use the correct state tax forms. Prepare and efile your Kansas state tax return (resident, nonresident, or part-year resident) and Federal tax return together or separately at efile.com. View the federal tax return filing requirements .

Kansas Income Tax Filing Deadline

The regular deadline to file a Kansas state income tax return is April 15.

Tax Deadline Date

Type of Income Tax Return

Filing Deadline / Due Date Description

2015 Kansas State Tax Return

Due date for Kansas State Income Tax Returns – income tax filing deadline

2015 Kansas State Tax Extension

Due date for Kansas extensions

October 17, 2016

2015 Kansas State Tax Return

Last day to efile a 2015 Kansas State Income Tax Return for tax extension filers and late efilers

Kansas State Tax Forms that Can Be efiled

efile.com supports all of the forms that Kansas allows to be efiled. You can efile any of the following Kansas state tax forms:

Kansas does not have a separate extension form. If you file Form 4868 requesting an automatic six-month extension of time to file your federal tax return, you will automatically receive a six-month extension of time to file your Kansas state return (not to pay KS taxes owed). A copy of form 4868 must be enclosed with your Kansas return.

To make an extension payment on your Kansas income tax, use the Kansas Payment Voucher (K-40V). Check the box on the voucher for extension payment. The extension payment must be postmarked on or before April 18, 2016. Any balance due remaining after April 18, 2016 will include interest. To avoid a separate penalty charge, you must have 90% of your tax be paid by April 18, 2016. In addition, any remaining balance due must be paid within the extended due date.

Include copy of federal Form 4868 with Kansas return

Important Reminder! If you are efiling a Kansas tax extension, you may need to efile a federal tax extension as well.

KS Tax Amendment

Kansas state amended tax returns can only be filed by mailed; they cannot be efiled. Learn how to prepare and file a Kansas state tax amendment.

Important Reminder! If you are filing a Kansas tax amendment, you may need to file a federal tax amendment as well.

2014 Previous Year Kansas State Tax Forms

Kansas tax returns for 2014 and other previous Tax Years cannot be prepared and efiled online. Download the 2014 forms, fill them out, and mail them to the Kansas Department of Revenue.

Where s My Refund? – Check Your Kansas State Tax Refund Status

Before checking the status of your KS state refund, wait at least 16 weeks after filing your return. File electronically or early in the tax season to get your refund faster.

KS efile Error Codes

If your Kansas state return was rejected, you will receive an error reject code. If you prepared and efiled your return on efile.com, we will provide you with an explanation of how to correct the error on your return. You may then resubmit your state return at no additional charge until it is accepted by the state.

Kansas Tax Facts

KS Income Tax:

Individual income is taxed across two tax brackets at two graduated tax rates.

  • 2.7% for the first $15,000 of taxable income
  • 4.6% of taxable income for $15,001 and above

The income amounts are doubled for married couples filing jointly.

KS Sales Tax:

Kansas has a sales tax rate of 6.3%. Cities and counties in the state also have various local sales taxes.

KS Personal Property Tax:

The state s personal property tax values vary based on county.

Homes, commercial real property, and certain other property types are appraised at market value as of the first day of January each year. Agricultural land, certain motor vehicles, and commercial and industrial machinery/equipment are appraised using a value-assessed method.

A rebate on a portion of property taxes paid on a Kansas resident s main personal property is available through the homestead refund. Qualified residents can claim the refund by filing Form K-40H.

Odd Tax Fact:

Kansas requires drug dealers possessing marijuana and/or other controlled substances to pay the state s drug tax. The state defines a drug dealer as

  • Anyone who produces, transports, manufactures, imports, or ships illegal substances into the state OR
  • Anyone who possesses more than 28 grams of marijuana (processed or marijuana plants), one gram of a controlled substance, or 10 or more dosage units of a controlled substance.

In exchange for the tax payment, drug dealers receive drug tax stamps, which must be attached to the substances and are valid for three months. Though the stamps do not make the possession of these drugs legal, having drugs without stamps or expired stamps may result in civil or criminal penalties. These penalties may include seizure of property or fines.

KS State Tax Agency:

For more information, you can visit the website of The Kansas Department of Revenue.


How do I file a Kansas Amended Tax Return? #income #department

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How to Prepare and File a Kansas Tax Amendment

When Do I Have to File a Kansas Amended Tax Return?

Your amended Kansas state return should be filed within 3 years of the filing deadline for the original tax return, or 2 years from the time when tax was paid (whichever is later).

How Do I Correct My Accepted Kansas Tax Return or File a Kansas Tax Amendment?

If there have been changes in your state taxable income, deductions or credits, then you must file a tax amendment. If the IRS made changes to your federal tax return, then you must also file a tax amendment with the state of Kansas to inform them of the changes. Here s how:

  1. Download and complete Form K-40 .
  2. Print out the amended tax form and mail it to: Kansas Income Tax, 915 SW Harrison St. Topeka, KS 66699-1000.

Kansas State Tax Amendment Forms (Download, Complete, Print, and Mail)

Fill out Form K-40 for the corresponding year and specify that it s an amended return.

In addition, there is a penalty for not paying on time, and it amounts to 1% of the tax due per month, and can t exceed 24%. If the tax was due before December 31, 2001 then the penalty is 25%.

Where Do I Mail My Kansas State Amended Tax Return?- Kansas Mailing Address:

Kansas Income Tax
915 SW Harrison St.
Topeka, KS 66699-1000

Kansas Department of Revenue Phone Number: 785-368-8222

Where Do I Learn More About Kansas State Taxes?

How Do I File My Federal, IRS Amendment?

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Kansas Income Tax Brackets 2016 #what #income #tax #return

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2015 Kansas Income Tax Brackets

Kansas’ income tax rates were last changed two years ago for tax year 2013. and the tax brackets were previously changed in 2011.

Kansas has two marginal tax brackets, ranging from 2.7% (the lowest Kansas tax bracket) to 4.6% (the highest Kansas tax bracket). Each marginal rate only applies to earnings within the applicable marginal tax bracket .

In Kansas, different tax brackets are applicable to different filing types. Married couples filing their Kansas income tax return jointly will usually have wider tax brackets than those filing separately or as an individual.

How do Kansas tax brackets work?

Technically, you don’t have just one “tax bracket” – you pay all of the Kansas marginal tax rates from the lowest tax bracket to the tax bracket in which you earned your last dollar. For comparison purposes, however, your Kansas tax bracket is the tax bracket in which your last earned dollar in any given tax period falls.

You can think of the bracketed income tax as a flat amount for all of the money you earned up to your highest tax bracket. plus a marginal percentage of any amount you earned over that. The chart below breaks down the Kansas tax brackets using this model:

For earnings between $0.00 and $15,000.00, you’ll pay 2.7%

For earnings over $15,000.00, you’ll pay 4.6% plus $405.00

Kansas Income Tax Estimator

You can use the income tax estimator to the left to calculate your approximate Kansas and Federal income tax based on the most recent tax brackets.

Keep in mind that this estimator assumes all income is from wages, assumes the standard deduction, and does not account for tax credits.

For a more detailed estimate that takes these factors into account, click “View Detailed Estimate” (this will will redirect to an external website).

Kansas Tax Deductions

When calculating your Kansas income tax, keep in mind that the Kansas state income tax brackets are only applied to your adjusted gross income (AGI) after you have made any qualifying deductions.

Qualifying deductions might include an itemized deduction, the Kansas standard deduction, exemptions for dependants, business expenses, etc.

Remember that Kansas may have very different deduction laws from the Federal Income Tax. so you may have to write a whole new list of deductions for your Kansas income tax return.

Download .CSV file of KS income tax brackets

Compatible with Excel or database software

Download or print Kansas income tax forms

KS income tax forms are available as PDFs

Kansas Standard Deductions & Personal Exemption Amounts

In addition to marginal tax brackets, one of the major features of the Kansas income tax is deductions. The three most common deductions encountered by taxpayers are the Kansas Standard Deduction. the Kansas Personal Exemption. and the Kansas Dependent Deduction. The current values of these deductions for tax year 2015 are as follows:

The standard deduction, which Kansas has, is a deduction that is available by default to all taxpayers who do not instead choose to file an itemized deduction. Essentially, it translates to $3,000.00 per year of tax-free income for single Kansas taxpayers, and $7,500.00 for those filing jointly.

The Personal Exemption. which is supported by the Kansas income tax, is an additional deduction you can take if you (and not someone else) are primarily responsible for your own living expenses. Likewise, you can take an additional dependent exemption for each qualifying dependent (like a child or family member), who you financially support.

The Federal income tax also has a standard deduction, personal exemptions, and dependant deductions, though they are different amounts than Kansas and may have different rules.

Head over to the Federal income tax brackets page to learn about the Federal Income Tax, which applies in all states nationwide.

Sources & Citations

Disclaimer: While we do our best to keep this list of Kansas income tax rates up to date and complete, we cannot be held liable for errors or omissions. Is info on this page missing or out-of-date? Please let us know so we can fix it!

The Kansas tax brackets on this page have been updated for tax year 2015. and are the latest brackets available. States often adjust their tax brackets on a yearly basis, so make sure to check back later for Kansas updated tax year 2016 tax brackets!

Tax Data Sources:

  1. The Kansas tax brackets on this page were last updated from the Kansas Department of Revenue in 2015. Please contact us if any of our Kansas tax data is incorrect or out of date.
  2. Kansas tax return forms are available on the Kansas tax forms page or the Kansas Department of Revenue.
  3. Before the official 2016 Kansas income tax brackets are released, the brackets used on this page are an estimate based on the previous year’s brackets. These numbers are subject to change if new Kansas tax tables are released.
  4. The Kansas income tax estimator tool is provided by Tax-Rates.org .

While we take all precautions to ensure that the data on this site is correct and up-to-date, we cannot be held liable for the accuracy of the tax data we present.

This site is a free public service not affiliated with the IRS or any governmental organization.

** This Document Provided By Tax-Brackets .org **
Source: http://www.tax-brackets.org/kansastaxtable


Contact My Local Office in Kansas #federal #income #tax #extension

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Contact My Local Office in Kansas

IRS Taxpayer Assistance Centers (TACs) are your source for personal tax help when you believe your tax issue can only be handled face-to-face. Keep in mind, many questions can be resolved online without waiting in line. Through IRS.gov you can:

We are now referring all requests for tax return preparation services to other available resources. You can take advantage of free tax preparation through Free File, Free File Fillable Forms or through a volunteer site in your community. To find the nearest volunteer site location or to get more information about Free File, go to the top of the page and enter “Free Tax Help” in the Search box.

Additionally, selected TACs now operate by appointment. If the office reflects “By Appointment” in the Days/Hours of Service column, follow the appointment link to request an appointment.

If you have a tax account issues and feel that it requires talking with someone face-to-face, visit your local TAC or request an appointment at those TACs that provide face-to-face assistance by appointment.

Caution. Many of our offices are located in Federal Office Buildings. These buildings may not allow visitors to bring in cell phones with camera capabilities.

Multilingual assistance is available in every office. Hours of operation are subject to change.

Before visiting your local office click on “Services Provided” in the chart below to see what services are available. Services are limited and not all services are available at every TAC office and may vary from site to site.

* Note: The phone numbers in the chart above are not toll-free for all locations. When you call, you will reach a recorded business message with information about office hours, locations and services provided in that office. If face-to-face assistance is not a priority for you, you may also get help with IRS letters or resolve tax account issues by phone, toll free at 1-800-829-1040 (individuals) or 1-800-829-4933 (businesses).

For information on where to file your tax return please see Where to File Addresses .

The Taxpayer Advocate Service: Call (316) 651-2100 in Wichita or 1-877-777-4778 elsewhere, or see Publication 1546. The Taxpayer Advocate Service of the IRS. For further information, see Tax Topic 104 .

IRS and organizations all over the country are partnering to assist taxpayers. Through these partnerships, organizations are also achieving their own goals. These mutually beneficial partnerships are strengthening outreach efforts and bringing education and assistance to millions.

For more information about the programs for individuals and families and how your organization can be a part of this partnership read more at Become an IRS Partner. Organizations interested in operating a free tax preparation site through the Volunteer Income Tax Assistance or Tax Counseling for the Elderly programs may consider applying for a VITA or TCE Grant. Anyone interested in volunteering to prepare free tax returns can read how to become an IRS Tax Volunteer. or if you need to find a volunteer site to have your tax return prepared absolutely free, go to Free Tax Return Preparation for you by volunteers .

For more information about these programs for businesses, your local Stakeholder Liaison office establishes relationships with organizations representing small business and self-employed taxpayers. They provide information about the policies, practices and procedures the IRS uses to ensure compliance with the tax laws. To establish a relationship with us, use this list to find a contact in your state:

Stakeholder Liaison (SL) Phone Numbers for Organizations Representing Small Businesses and Self-employed Taxpayers.

Page Last Reviewed or Updated: 24-Aug-2016


New Zealand – s income inequality problem – Closer TogetherCloser Together #income #efiling #gov

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Closer Together Whakatata Mai

New Zealand s income inequality problem

If you’re 35 or younger, the New Zealand you grew up is in many ways remarkably different to people older than you. One of the most profound differences is in the degree of income inequality.

Over the last three decades New Zealand there has been a step change in inequality — we’ve gone from being one of the most equal to one of the most unequal countries in the developed world.

Our income inequality increased very rapidly in the late 1980s and ’90s — faster in fact than in any other wealthy country. Since then the rest of the world has caught up with us. Over these decades a big gap between rich and poor has opened up.

Over that time we ve seen:

The top incomes double

The bottom half of incomes barely changed

The current trend shows no sign that this ‘step change’ to inequality will be reversed

How did this happen?

Tax cuts gave big breaks to higher income earners

Welfare benefit cuts of up to 20% reduced incomes for New Zealand’s poorest

Changes to employment law weakened the bargaining power of low-paid workers so they found it harder to win pay increases

Rising unemployment means fewer people earning wages and more people reliant on much lower welfare benefits

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