It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill.
You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.
Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings.
Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year.
So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)
Erik Roth
This year practically every taxpayer is owed a refund by the IRS of an illegally assessed telephone excise tax. But, last month the IRS reported that in January nearly thirty percent of early filers failed to claim their due refund. Approximately $20 billion ought to be refunded to individuals and organizations. Yet, what is not claimed will be forfeit, and remain in government coffers. A new website explains the history of this tax and offers free instructions and calculating tools for determining and obtaining the exact refund owed. Check out this little YouTube video about it:
http://www.youtube.com/watch?v=QCOwDKz3Q9g
Please post this notice to help spread the word about this one-time only tax refund.
marvin w. nonner
what day can I look to recevied my taxes for 2007.
Kay
Marvin, here’s the 2008 filing season schedule for folks who e-filed: http://www.irs.gov/pub/irs-pdf/p2043.pdf
Thanks for reading and here’s hoping you get your money soon!
Kay