Resources - 123 Income Tax Inc.

What to Do If You’re Behind on Your Tax Payments

Falling behind on your taxes can feel overwhelming, but ignoring the problem will only make it worse. The good news?...

Did You Receive a 1099-K Form? Here’s What It Means for Your Taxes

If you received a 1099-K form this tax season, you are not alone. Millions of taxpayers are now receiving this...

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...

Did You Receive Payments Through Venmo, PayPal, Cash App, or Online Marketplaces? Here’s What You Need to Know

If you received payments through apps like Venmo, PayPal, Cash App, or online marketplaces this year, it’s important to understand...

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 Long Do I Have to Wait Until I Get My Tax Refund in 2024?

We’ve based these timelines on historical data noting that most refunds will be issued by the IRS in less than...

What You Need to Know About the Child Tax Credit

What is the Child Tax Credit? The CTC is a tax credit for parents of dependent children designed to help...

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,...

Why Accuracy Matters When Filing Your Taxes

Accuracy is one of the most important aspects of filing your taxes. Even small mistakes can lead to delays, reduced...

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...

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...

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...

When Are 2024 Tax Payments Due?

If you're self-employed or don't have taxes withheld from other sources of taxable income, it's up to you to periodically...

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...

Tax Season Prep: What You Should Do Now to Avoid Last-Minute Stress

As tax season approaches, the thought of filing can cause anxiety for many individuals and small business owners. However, with...

Did You Sell Stocks, Real Estate, or Investments? Here’s What You Need to Know for Tax Season

If you sold stocks, real estate, or other investments this year, it’s important to understand how these transactions affect your...

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...

2024 Buisness Income tax

Here is a question we get a lot: what if I got business government grant? Yes, it is considered a taxable...

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...

Doing Your Taxes When You Owe Student Loans: What You Need to Know

If you’re one of the millions of Americans with student loan debt, tax season might bring up some questions about...