The IRS reject code IND-032-04 is one of the commonly came across error codes that actually has a simple solution. When e-filing your federal income tax return, you might get your tax return rejected with this code, and the reasoning for this is that the spouse’s adjusted gross income entered doesn’t match the IRS records. … Read more
Girl Scouts of the United States of America, or as we simply refer to them as Girl Scouts, is a youth organization for girls. It’s more than likely that you’ve seen their stands selling cookies and other forms of snacks at stands. It was first founded on March 12 of 1912, with the intention of … Read more
The Internal Revenue Service announced a few months back that the child tax credit will have its advanced payments like the premium tax credit. While the child tax credit is significantly higher than the premium tax credit and it’s more accessible to taxpayers, it’s now a question of whether or not it’s worth getting the … Read more
Taxpayers who are filing a mailed-in tax return must send their 1040 along with its attachments to the Internal Revenue Service. The mailing address for Form 1040 is different depending on where you live and whether you send the return with or without payment. When mailing Form 1040, use USPS as it’s the only delivery … Read more
The first quarter of the year starts on January 1st and ends on March 31. Taxpayers that earn self-employed income or income in general that isn’t subject to federal income tax withholding are required to make estimated tax payments to the Internal Revenue Service, to pay what they owe for the quarter. Since there is … Read more
For every quarter, the Internal Revenue Service requires taxpayers to make estimated tax payments. If you’re earning income that’s subject to federal income tax withholding, you aren’t required to estimate taxes. Only those that are earning income that isn’t subject to federal income tax withholding, such as those that are self-employed are required to make … Read more
There are limits to how much one can contribute to their 401(k) retirement accounts. The Internal Revenue Service is very specific about the amounts for every employee regardless of how much they’re earning. The contribution limits are adjusted against inflation and changes to the cost of living every year. For the 2022 tax year, the … Read more
Reject Code F540-960 is about your California state income tax return. Upon filing your state income tax return through eFile, you may get your return rejected with this code. So, why do you get the reject code F540-960? This rejection code refers to an error on the Social Security Number entered. More specifically, the SSN … Read more
The way that dividends are taxed can be quite confusing especially if you’ve just begun collecting them. Regardless of the financial institution that brings you an income from dividends and other distributions, you will receive Form 1099-DIV that reports these. On this tax form, you will see the total income earned from dividends and the … Read more
The Biden administration is working on several major changes to the 401(k) such as an automatic enrollment to employees that are not covered by a retirement plan at their workplace. If your employer doesn’t offer 401(k), you’re out of options as it’s not like IRA where you can open an account yourself. Your employer must … Read more