Tax Advice | TaxGenuity, Inc. - Tax Experts & IRS Problem Solvers

Is Your College Student’s Scholarship Taxable?

by TaxGenuity Tax Experts | Jun 6, 2022 | Tax Advice

May 1st is the traditional deadline for undergraduate students to commit to their college of choice, which means tuition payments are not far behind. If you’re wondering if your child’s scholarships are taxable, here’s what you should know. First,...

How To Check the Status of a Tax Refund

by TaxGenuity Tax Experts | Jun 4, 2022 | Tax Advice

Tracking the status of a tax refund is easy with the Where’s My Refund? tool. It’s available anytime on IRS.gov or through the IRS2Go App. Where’s My Refund provides a personalized date after the return is processed and a refund is approved. While...

Now Is the Time To Check Your Federal Tax Withholding

by TaxGenuity Tax Experts | Jun 2, 2022 | Tax Advice

Now that tax season is over, it’s time to get the new tax year off to a good start by checking your federal income tax withholding. Taxpayers can do this by using the Tax Withholding Estimator on IRS.gov. Let’s take a look at why using this valuable online...

Requesting an Identity Protection Pin From the IRS

by TaxGenuity Tax Experts | May 31, 2022 | Tax Advice

All taxpayers – especially victims of identity theft – are reminded of an important step they should take to protect themselves from tax fraud: requesting an Identity Protection Pin from the IRS. Identity thieves sometimes use taxpayers’ information to file fraudulent...

What To Know About Tax-related Identity Theft

by TaxGenuity Tax Experts | May 29, 2022 | Tax Advice

Tax-related identity theft occurs when someone uses a taxpayer’s stolen SSN to file a tax return claiming a fraudulent refund. In the vast majority of tax-related identity theft cases, the IRS identifies a suspicious tax return and pulls the suspicious return...

Special Tax Benefits for Members of the Military

by TaxGenuity Tax Experts | May 27, 2022 | Tax Advice

Military personnel and their families face unique life challenges with their duties, expenses, and transitions. As such, military members may qualify for tax benefits not available to civilians. For example, they don’t have to pay taxes on some types of income....

Choosing the Correct Business Entity

by TaxGenuity Tax Experts | May 25, 2022 | Tax Advice

One of the most important decisions you’ll make when starting a business is choosing the right business entity. It’s a decision that impacts many things–from the amount of taxes you pay to how much paperwork you have to deal with and what type of...