Resources - 123 Income Tax Inc.

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...

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...

Common Tax Filing Mistakes and How Professional Tax Services Help You Avoid Them

Filing your taxes may seem straightforward, but even small mistakes can lead to delays, penalties, or missed opportunities for savings....

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...

Your Crypto and Invesment Is Taxable in 2024

If you invested in crypto last year, you may be in for a rude awakening this tax season. Yes, your...

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...

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...

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...

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...

How to Check Your Withholding

Withholding is the amount of income tax your employer pays on your behalf from your paycheck. The changes to the...

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 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...

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?...

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,...

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...

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...

What Happens If You Don’t File Taxes?

Filing your taxes is a responsibility most people must fulfill every year. However, some individuals may wonder what happens if...

Should You File Taxes at 18? Here’s What You Need to Know

Turning 18 comes with new responsibilities—voting, managing your finances, and yes, potentially filing taxes. If you're wondering whether you need...

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...

Maximize Your Tax Deductions: Top Tips for Individuals and Small Businesses

Tax season can be overwhelming, but it doesn’t have to be. One of the most effective ways to ease your...