Resources - 123 Income Tax Inc.

When are My Taxes Due in 2024?

There are several tax deadlines to be aware of, including the federal deadline, your individual state deadline, and the late...

Apply Online for a Payment Plan

If you are a qualified taxpayer or authorized representative (Power of Attorney) you can apply for a payment plan (including...

What to Expect When You Use Professional Tax Services for the First Time

If you’ve never used professional tax services before, you might be wondering what the process looks like and whether it’s...

Why Do We Pay Taxes?

Generally, people don’t like paying taxes. When their paycheck comes, they see that a large amount of money is taken...

Did You Earn Tip Income That May Now Qualify for Tax Benefits? Here’s What You Need to Know

If you earned tip income this year, you may be wondering how it affects your taxes and whether you qualify...

Get ready for the 2024 tax season

The 2024 tax filing season is over, but planning ahead can save you money and headaches. If there are any...

Did You Buy, Sell, or Receive Cryptocurrency, NFTs, or Digital Assets?

When preparing a tax return today, one of the most important questions taxpayers must answer involves digital assets. The Internal...

Did You Contribute to a 401(k), IRA, or Retirement Plan? Here’s What You Need to Know for Tax Season

If you contributed to a 401(k), IRA, or another retirement plan this year, it can have a meaningful impact on...

How to Choose the Right Tax Service for Your Needs

Choosing the right tax service can make a big difference in your financial outcome. With so many options available, from...

How Tax Services Help You Avoid IRS Penalties

Filing your taxes incorrectly or missing deadlines can lead to costly penalties. Many taxpayers underestimate how strict the Internal Revenue...

How Professional Tax Services Help You Maximize Your Refund and Minimize Stress

When tax season arrives, many people focus on one main goal—getting the biggest refund possible. While it may seem simple...

Why the IRS Is Moving Away from Paper Checks

For decades, receiving a tax refund by mail in the form of a paper check was the norm. Many taxpayers...

How to Pay Estimated Taxes

Use Form 1040-ES to pay your estimated taxes. There are several ways to pay estimated taxes, including by check, cash,...

When Are Taxes Due in 2024?

Tax Day is typically April 15 each year unless the day falls on a holiday or weekend. The pandemic in...

How Tax Services Support Small Business Owners

Small business owners can benefit from professional tax services. Learn how expert help keeps your business compliant and reduces taxes....

Major Tax Changes for 2024

Tax Brackets Increase for All Filing Statuses Your federal taxes are calculated based on the tax brackets for your filing...

Taxes for Students: What You Need to Know

If you’re a student, taxes might not be at the top of your to-do list. Between classes, exams, and part-time...

The Importance of Filing Your Taxes: Why It Matters

The Importance of Filing Your Taxes: Why It Matters Taxes might not be the most exciting topic, but they are...

How will the expanded child tax credit affect me?

For 2024, the total credit for eligible families rose to as much as $3,600 for each child under 6 and...

Did Your Income or Filing Status Change This Year? Here’s What You Need to Know for Tax Season

If your income or filing status changed this year, it can have a significant impact on your tax return. Many...