Home Blogs Category: Tax Tips and Tricks

Category: Tax Tips and Tricks

Taxes are confusing and cause many taxpayers stress come tax season but PriorTax is here to help. Learn the tax tips and tricks to get you through the preparation process. You could be missing out on more money from the IRS which is why we want to help. We’ll let you know about hidden deductions and rare credits to report on your tax return to maximize your refund. Don’t hesitate to leave a comment on our blog if you have a question about your tax situation. Also, check back here for new tips and tricks throughout the tax season because our team is on the lookout!

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tax return amendment
admin
Jul 27, 2023

Do I Need Tax Return Amendment?

You’ve noticed errors or exclusions made on the tax return? It’s possible to do tax return amendment after submitting your original tax filing

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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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prior tax
admin
Jul 9, 2023

Unfiled 2019 Tax Refund to Claim Thousands in Tax Return

The clock is ticking for 1.5 million Americans who have yet to file their tax returns from the year of 2019, missing out on potential refunds worth $1.5 billion. Those who still need to file must act fast, as July 17 marks the last chance to claim a tax refund, which could be in the thousands. Don’t leave money on the table.

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Premium Tax Credit
admin
Jul 6, 2023

Premium Tax Credit and Tax Form 8962

Premium Tax Credit offers tax deductions that can be applied when filing taxes for those who qualify are eligible to receive these benefits

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Educator Expense Tax Deduction
admin
Jun 29, 2023

Educator Expense Tax Deduction

Educator Expense Tax Deduction will let you subtract up to $300 worth of qualified expenses from your taxes for 2022. Here’s all you need to know

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Charitable Distribution
admin
Jun 22, 2023

Making Charitable Distribution and Contributions from a Traditional IRA

To make a tax Qualified Charitable Distribution (QCD) from your IRA, you are in luck – Prior Tax provides an easy way to do so. A special feature within the software ensures that this process goes smoothly.

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American Opportunity Tax Credit
admin
Jun 15, 2023

American Opportunity Tax Credit

Unlike other education-related tax benefits, which merely reduce income subject to taxation, taking advantage of American Opportunity Tax Credit can offer significant savings

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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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business tax
admin
Jun 1, 2023

How Can You File Your Business Taxes?

Business tax filing can vary depending on the type of business structure in place. To ensure that your business taxes are done correctly

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fix tax return
admin
May 25, 2023

Fix your Tax Returns to Make Sure Your Federal Tax Return is Accurate

It’s not unheard of for additional information to arrive after you’ve already filed your taxes. This can be something like overlooked credits or tax form 1099 arriving too late in the season. Fortunately, the IRS has created an easy way to fix your tax return by amending it. It can be difficult to ensure your […]

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