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Be Sure To Get Your Refund
Refund Refund Refund
By Stacie Kitts, CPA
Unbelievably, there are people who never bother to check up on their tax refunds. Really.
If you move be sure to complete a change of address Form 8822 and check out this info from the IRS
Unclaimed Refunds
Some people earn income and may have taxes withheld from their wages but are not required to file a tax return because they have too little income. In this case, you can claim a refund for the tax that was withheld from your pay. Other workers may not have had any tax withheld but would be eligible for the refundable Earned Income Tax Credit, but must file a return to claim it.
- To collect this money a return must be filed with the IRS no later than three years from the due date of the return.
- If no return is filed to claim the refund within three years, the money becomes the property of the U.S. Treasury.
- There is no penalty assessed by the IRS for filing a late return qualifying for a refund.
- Current and prior year tax forms and instructions are available on the Forms and Publications page of www.irs.gov or by calling 800-TAX-FORM (800-829-3676).
- Information about the Earned Income Tax Credit and how to claim it is also available on www.irs.gov.
Undeliverable Refunds
Were you expecting a refund check but didn’t get it?
- Refund checks are mailed to your last known address. Checks are returned to the IRS if you move without notifying the IRS or the U.S. Postal Service.
- You may be able to update your address with the IRS on the “Where’s My Refund?” feature available on IRS.gov. You will be prompted to provide an updated address if there is an undeliverable check outstanding within the last 12 months.
- You can also ensure the IRS has your correct address by filing Form 8822, Change of Address, which is available on www.irs.gov or can be ordered by calling 800-TAX-FORM (800-829-3676).
- If you do not have access to the Internet and think you may be missing a refund, you should first check your records or contact your tax preparer. If your refund information appears correct, call the IRS toll-free assistance line at 800-829-1040 to check the status of your refund and confirm your address.
Summer Camp and Taxes
By Stacie Kitts, CPA
Pampered Camper
This summer I had the privilege of being included in the first ever Pampered Camper Event sponsored by the Girl Scouts of Orange County.
This grown up girl event organized to raise money for the benefit of girls in Orange County included a catered gourmet meal, wine tasting, a massage, arts and crafts, horseback riding, rock climbing, archery, hiking, boating, swimming and climate controlled cabins. Undoubtedly one of the greatest weekends ever!!!!!
Now that summer is over, I want to remind taxpayers to tell your tax preparer if you paid for the cost of day camp (sorry, overnight camp isn’t deductible) for your kids. Below is some helpful information for parents who are working or looking for work and have children under 13.
Pampered Camper
Here are five facts the IRS wants you to know about a tax credit available for child care expenses. The Child and Dependent Care Credit is available for expenses incurred during the summer and throughout the rest of the year.
- The cost of day camp may count as an expense towards the child and dependent care credit. [check with your tax preparer – there are some nuances related to the type of camp]
- Expenses for overnight camps do not qualify.
- Whether your childcare provider is a sitter at your home or a daycare facility outside the home, you’ll get some tax benefit if you qualify for the credit.
- The credit can be up to 35 percent of your qualifying expenses, depending on your income.
- You may use up to $3,000 of the unreimbursed expenses paid in a year for one qualifying individual or $6,000 for two or more qualifying individuals to figure the credit.
For more information check out IRS Publication 503, Child and Dependent Care Expenses. This publication is available at www.irs.gov or by calling 800-TAX-FORM (800-829-3676).
Links:IRS Publication 503, Child and Dependent Care Expenses
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