Home Blogs Category: Tax and Life Changes

Category: Tax and Life Changes

Life changes and your taxes go hand in hand; believe it or not. That being said, it’s easy to forget about your tax return as a newlywed or when you’re welcoming a newborn into the family. Be aware that many of these changes also make you eligible for deductions and credits on your tax return. In some cases, you may need to update your W-4 form as well. PriorTax will keep you up to date on what to do when these life changes occur. You won’t be left in the dark.

Check back here for answers to your questions about how these changes affect your taxes.

 

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Hawaii Wildfire
admin
Aug 31, 2023

IRS Announces Tax Relief for Hawaii Wildfire Victims

The Internal Revenue Service (IRS) has issued a declaration of tax relief to those affected by the wildfires that began on August 8, 2023, in parts of Hawaii.

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smaller tax refund
admin
Aug 17, 2023

Are You Receiving a Smaller Tax Refund

A Free dedicated Tax Professional could sort out the difference between your return and the original tax refund when you received a smaller tax refund

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tax refund
admin
Aug 10, 2023

How to Maximize Your Tax Refund with Form W-4

Maximizing your tax refund relies upon a few easy processes, research, and some preparation. Examining your tax situation, involving your partner when finishing up your tax form W-4

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student loan interest
admin
Jul 20, 2023

Student Loan Interest and Tax Form 1098-E

Are you aware of the Tax Form 1098-E for Student Loan Interest? For individuals currently repaying a student loan, Tax Form 1098-E may be mailed out from each lender.

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re-file tax returns
admin
Jun 8, 2023

Should I Re-File My Tax Return by Amending Tax Return?

How should one go about re-filing taxes by amending tax returns to take advantage of the new updates, and is it worth the effort

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Earned Income Tax Credit (EITC) in 2023
admin
Apr 6, 2023

Earned Income Tax Credit (EITC) in 2023

Designed to provide financial relief, the low-to-moderate-income worker’s and family’s credit seeks to help those struggling to make a living wage.

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w2 form 2022
admin
Jan 20, 2023

W2 Tax Form for 2022

Those who work full-time can begin this process once they receive their W2 Form for 2022 from their employer. This document is critical as it provides information needed to submit your taxes correctly and calculate any potential tax refund.

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efile taxes
admin
Jan 7, 2023

Benefits to Efile taxes when online tax filing for 2022

Efile taxes electronically is quick, easy, and processed faster than mailing your return. Plus, the IRS recommends Efiling as the best way to file your taxes. Here’s a breakdown of the benefits of Efiling your taxes

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child tax credit 2022
admin
Nov 7, 2022

Child Tax Credit 2022

The Child Tax Credit 2022 is a powerful tax tool that can save your taxes. The Child Tax Credit 2022 is now worth up to $2,000 per qualifying child and used to reduce the tax you owe.

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student loan forgiveness
admin
Sep 9, 2022

Updates on Student Loan Forgiveness

As higher education costs continue rising, many students struggle to repay their loans. US Government proposes a new income-based repayment and Student Loan Forgiveness plan to make the lending process more manageable for future borrowers.

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