HUNTSVILLE, Ala. (WHNT) -- You've probably started receiving tax forms in the mail, so it's time to start thinking about filing your taxes again. Instead of waiting until the deadline, why not tackle them early?
WHNT News 19 is Taking Action to help you get your tax questions answered. We partnered with the Alabama Society of Certified Public Accountants (ASCPA) on February 10, and licensed CPAs joined us at WHNT News 19 to take your calls and answer your tax questions.
They took about 150 calls that evening.
Scott Hand, a licensed CPA, talks about some of the top questions that came in.
First, Obamacare. This year, the Affordable Care Act begins penalizing taxpayers for not having minimum essential health care coverage.
"Unfortunately, the penalty is calculated on a monthly basis," said Hand. "If you're a family of four, the monthly penalty can be up to $284 dollars a month, so that could add up quickly to a tax payer."
Here's something else that is new. The Alabama Department of Revenue is rolling out new efforts to combat identity theft. You could soon get an identity quiz.
"This quiz does not mean that you are suspected of fraud or something went wrong with your identity," said Hand.
It's just there to catch the bad guys. Here's more information on http://revenue.alabama.gov.
Also, if you're among the millions of unemployed Americans who were looking for a job in 2014, we hope you found success. But we also hope you kept track of your job-search expenses. They can be written off, even if you didn't land a new job.
There are other resources available for help with your taxes this year. The United Way of Madison County, the University of Alabama in Huntsville (UAH) and Impact Alabama are sponsoring the SaveFirst Initiative.
Here are some helpful links to use as you prepare your taxes:
- "How to find a tax preparer" - http://irs.treasury.gov/rpo/rpo.jsf
- "Where’s my refund – IRS" http://www.irs.gov/Refunds
- "Where’s my refund – State of Alabama" https://myalabamataxes.alabama.gov/_/
DISCLAIMER: WHNT News 19 and the ASCPA are not responsible for tax advice provided. This is a free service and not intended to replace or substitute advice provided by your accountant or tax professional. Any tax advice included in this communication (including attachments) is not intended or written to be used, and it cannot be used by any taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer. Thank you.