American Tax Service

Helping Americans File Their Taxes

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When Can You File Taxes in 2020?

filing taxes online

2019 is coming to an end, and you may be wondering when can you file taxes in 2020?

While you may be looking forward to the holiday season, keep in mind, soon after it ends, tax season officially kicks off.

So, when does tax season start in 2020? The first day to file taxes … Read the rest

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What You Need to Know about the New Child Tax Credit

The original child tax credit, known as the CTC, was first introduced back in 1997, before becoming available to claim in 1998. In the beginning, this was a simple nonrefundable credit for $400, which applied to each qualifying child if they were under the age of 17.

child tax credit

There have been many changes over the last … Read the rest

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How to File Taxes With H&R Block for Free

There are so many free tax filing services online today. The problem is choosing the right one. Not every free tax filing service offers the features and the standard of service you would expect.

H&R Block free tax filing

You require accuracy in your tax returns, and you need to make sure you’re going to receive the biggest refund possible. … Read the rest

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What Are H&R Block Tax Preparation and Filing Prices?

Preparing and filing your taxes can be stressful and intimidating. There are lots of different companies that can help you with the process.

H&R Block tax filing pricesH&R Block is one such tax company that provides you with all the tools and services necessary to help you file your taxes on your own.

But what about the cost of … Read the rest

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New Tax Refund and Reform Calculator at H&R Block Online

The major tax law changes implemented and the Tax Cuts and Jobs Act (TCJA) has a lot of people worried about what it could mean for their taxes. People have a lot of questions, but we can help prepare you for the things that lie ahead.

tax refund reform calculator

To provide a range of useful tools to their … Read the rest

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How to Get a Fast Tax Refund Date

A tax refund can go a long way in changing the life of its receiver, whether it is saving or paying debts. In fact, in 2018, the total tax refund amount was approximately $2800 for almost 75% of taxpayers receiving a tax refund. So, how to do you get your tax refund faster?

The recommended … Read the rest

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How to Figure Out How Much Your Tax Refund Will Be

figure how much is my tax refund?

Are you trying to figure out how much your tax refund will be from the IRS this coming season?

While there’s a few ways to tell, you can get a pretty accurate estimate by using an online tax refund calculator.

By getting a rough idea of the size of your tax refund, you can start … Read the rest

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IRS Tax Forms You May Need to File

If you are planning to paper file, you should know that the IRS no longer sends your paper tax packages in the mail.

1040 tax form

If you file your taxes with H&R Block Online, you will find that it is super easy when it comes to getting the right tax form.

This is because the online … Read the rest

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Tax Credits for Solar Energy

One of the most valuable tax credits available to homes and businesses is the solar energy tax credit. It’s a tax credit that applies to solar-powered hot water and panel systems. It’s worth up to 30% of the total cost of purchase and installation.

At the end of the year 2015, Congress extended this credit … Read the rest

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What is EIC/EITC and Who Qualifies?

The EIC/EITC is known as the Earned Income Tax Credit. This tax credit is available for those who have a low or moderate-income.

EIC, Earned Income Tax CreditThe amount that you receive for this credit is determined based on the filing status you use and your salary for the year.

Those who qualify pay less in federal taxes and … Read the rest

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What is a W-2 Form?

w2 form 2019 2020The W-2 Form is one of the most essential forms in the tax world. It details what you’ve been paid by your employer.

The first point is to remember that the W-2 form is entirely different from your W-4 form. This details any payment that has been withheld as tax by your employer. Any … Read the rest

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Tax Deductions For Mortgage Refinancing

mortgage interest tax deduction

The largest tax deduction most people can claim on any type of mortgage is on the interest paid on the loan.

In most cases, mortgage refinance interest is tax-deductible, which means you can take it off your taxable income for that tax year.

But there are rules that apply.

Rules for Making Tax Deductions on

Read the rest

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What is Capital Gains Partial Exclusion for Home Sale?

There are some instances where you may not meet all the tests, but you would be eligible for a partial tax break. If you sell your home due to special or unforeseen circumstances, your tax preparer can talk to you about a capital gains partial exclusion for home sale. These instances would be such as … Read the rest

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How Can I Get  My W2 Form Online?

Employers are obligated to send out W-2 Forms by January 31st, or the next business day if it falls on the weekend or a public holiday.

But that doesn’t mean you have to receive it by that date. This can be highly frustrating if you just want to file your taxes and get … Read the rest

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Tax Credits for New Home Construction

Are you building a new home?

There are tax breaks available for people in this situation. They come in the form of tax deductions and tax credits. A credit is used to reduce the amount you pay, and a deduction reduces your total taxable income.

Here are some of the tax write-offs available to you … Read the rest

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The IRS Form 1040A Explained

Form 1040A is one of the forms that can be used when filing federal taxes in the US. This form is shorter than the original 1040 form; however, it is more complex than the 1040EZ form. All taxpayers can use form 1040, yet there are restrictions as to which taxpayers can use Form 1040A.

For … Read the rest

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Where Can I Find IRS Form 1040 and Instructions?

1040 tax form

IRS Form 1040 is the basic tax form many Americans will use. It also recently received an overhaul.

The new Form 1040 is now going to be the size of a postcard with 1040EZ and 1040-A removed from circulation entirely. However, there are a variety of new schedules, so you need to be aware that … Read the rest

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The Six New Form 1040 Schedules

The brand-new Form 1040 has simplified the form and moved many of the original lines to separate schedules. The philosophy behind it is to make filing easier for most Americans, who tend to have extremely simplified tax affairs.

new 1040 form

Most taxpayers never have to use anything other than the new Form 1040. But for those … Read the rest

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Self-Employed Tax Deductions That Save You Money

self employed tax deductionsFreelancers, contract employees, and business owners know that taxes can be a financial make or break. Tax season is normally a period filled with dread as you try to justify costs and scratch together last-minute work to prepare for the worst.

Thankfully, there are many ways you can save money if you are self-employed.

Of … Read the rest

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What is IRS Form W-4 and How to Fill it Out

 

w4 withholdings formIRS Form W-4 is a necessary form for changing your withholding limits. Withholding is when your employer will keep a portion of your paycheck for the purposes of using it to pay your tax bill at the end of the year.

Smart taxpayers will take advantage of the W4 withholding calculator to ensure they … Read the rest