Are There Limits On Your Tax Refund Amounts And How Long You Can Claim For Them?

Submitting a tax return can be tiresome and frustrating but for the most part, they are necessary. However, when it comes to refunds, are they really as straightforward as they appear? For the most part, refunds aren’t a big trouble but for those who believe they’re owed a refund for a few years back, they might be able to claim them still. So, are there any limits to refunds and if so are there any limits on this amount?

Limitations and the Process?

For anyone who is interested in filing for any refund, it would be wise to note there are some limitations as to when you can claim. There aren’t any limits as to what amount you can be owed but rather the time limit. There is usually a time limit of six to seven years for claiming a refund. The actual process to claim back refunds isn’t that difficult and can be handled within a matter of months. You would be best to seek some help of course as it will be a lot easier for you in the long-term.

What should you do if you believe you’re owed more?

You can always query the amount of tax refund you’ve received but it’s best to make your own checks before you rush and blame the Australian government of short-changing. It may be there has been some back taxes owed and the amount has been deducted from the refund or it could be that’s the amount you’re owed. Always look back at your records and make sure there is a genuine mistake before querying the amount.

Don’t Wait To Claim Any Tax Refunds

While there are at times several years in which you have available to file for a refund, it would be wise to do so in a timely manner. Waiting several years or until the final deadline for back tax refunds would be a mistake. It isn’t just that you’ve lost money for the last however many years but it could cause some headaches to say the least. That is why whenever you want to make a claim or file, file quickly.

Will You Be Successful?

The big question of whether or not someone will be eligible for their refund is really a tough one because every individual and their case are different. For instance, if the person owes several thousand dollars in taxes then it might be the refund amount goes towards paying them off. You might submit your tax return but that doesn’t mean to say you’ll earn any refund amount. There are several reasons why your case may not be successful but they will be explained to you in due course.

Get what you’re owed

Losing out on money which is technically yours is a bad thing because it’s money you could have spent elsewhere. However, there are ways in which you can claim back refunds even if it was two or three years ago. The process isn’t too difficult and it can be a piece of cake also. To find out more, check out

Taxes – And Your Online Business (Paying Taxes Is Just Part of Business)

It’s a legal requirement that all business due tax return whether online or not. People rush to online startups thinking and looking for ways to evade taxes. Don’t think an online business is exempted from taxes, the truth is, and the tax dues will catch up with you and your business soon enough, thus get ready for the taxman with all requirements.

Besides being a legal requirements, and righteous as it may sound, if the business does not file tax return intentionally or unintentionally, it’s not considered as a business.

So, thinking of starting an online business?

Learn everything about taxes to avoid complication with the tax man. An online startup idea is pretty much the same as starting any business in the country, taxes apply to each and every business. Entrepreneur involved with online business usually use online business tax return misconception ignorance as an excuse not to pay taxes, but eventually the IRS catchup with the business and the legal proceeding for tax evasion are totally unhealthy.

  • They simply say they didn’t really know where to go and the government or state department to approach for tax obligation, thus they just went ahead with their online business without actually referring to the state or government they are under.
  • Online business are considered as normal business, simply check with the local town hall and try to list down the requirements needed to form a normal business in your location, and special requirements in regard to internet business.
  • Research on what’s requirement for the state and federal government levels, for instant most community would actually require a trade name for registration. If you opt to work from home check on all local zoning laws applicable.

Learn About the Sales Tax Requirements

In some state online business fall under mail order business and there specific laws and regulations considered if you are planning to sell goods and services online. Get as much information on sales tax requirements that come along with your online business and avoid future tax problems with IRS

If you online business lacks a nexus (link) with another state, there is a possibility to ship and sell stuffs to customers in another state without actually charging sales tax return. Selling in the same state you reside, it’s a requirement to pay/collect sales tax and remittance the same to sales tax department of your state.

Operate Your Business Honestly

The success of any business weather online or not, it should be clean and honest as possible. There is no need to pull off illegal or mischievous business tricks that my jeopardize the state of the business and cause chaos with the legal department hence affecting the success of the business.

The business need to be abide to the truth in advertising requirements: Make sure that you abide by the Truth in Advertising are required by the law, don’t give your customers misleading ads. This will eventually hurt the business for the disappointed and unsatisfied customer with your services leads to more trouble and eventually the government will catch up with your business dealing.

To sum up, starting an online business you need ample time, efforts, honesty and sincerity. The internet is a place of so many scammers, thus lets your business be legal and trusted to boost its success and prosperity. You don’t have to follow this, having an a clean, honesty and legal online business is next to impossible, but ensure you are on the right track.

The tips mentioned above truly help a drift, check more with professional and experts about taxes, and a lawyer for legal advice. Tax return  and online business go hand in hand for a success business.

Looking For Your Tax Refund? Here’s What You Need To Know

Are you looking for your tax refund? According to the Internal Revenue Service (IRS), issuing  90% of tax refunds takes less than 21 days.

Checking the status of your tax refund got much easier; “Where’s my Refund” tool at website provides information on it. Also, you can download an application from Play Store (for Android) or App Store (for Apple devices). You will be able to check the status of your tax refund 24 hours after IRS notified you about of receiving your tax return file. There is no use in checking the tax refund status very often, as they update it only once a day (typically overnight).

However, this does not go for all tax returns. After amending your tax return, you should instead look for your amended tax return – using a tool “Where’s my Amended Return?”.

Also, you can call 1-866-464-2050 within three weeks after filing your amended return.

As you check out the “Where’s my Amended Return” tool, it will show the return status in three stages;

  • Return Received;
  • Return Approved; once approved, your tax refund will be sent to your bank account or by mail (if you asked for a paper check). If you requested direct deposit, the status will show when your refund is to be credited to your account. And if you opted for a paper check, this tool will show when the refund is scheduled to be sent to your bank.
  • Refund Sent; you cannot access the refund right away. It takes about five days from the day the refund was sent by IRS to your bank. In case of a paper check, it can take up to several weeks.

Calling IRS

Calling IRS will usually not give you the information you need so even if you feel like calling them, it is not such a great idea. It is unlikely that you will get an IRS representative on the phone, and even if you do, they can check the status of your refund only in some situations. However, if 21 days or more after e-filing the return (or six weeks after mailing the return) you did not get the refund or any notification from the IRS, they can help you out. In this situation, there was probably a mistake on the return, it could be incomplete or affected by tax fraud or identity theft. Also, if none of this happened, it is possible the check is already in the mail. The direct deposits from IRS can be deposited into your account (account in your own name) or your spouse’s name. In case of a joint account, it can be deposited into the joint account. Besides, from 2014 onwards, the tax refunds have been limited by IRS, so the maximum of three (e-filed) refunds can be directly deposited into a bank (financial) account or applied to a debit card. Taxpayers with more than three e-filed refunds will receive a paper refund.

Find out more informations here:

How to Choose the Right Tax Attorney

Most people file tax returns at the end of the year, but unfortunately that doesn’t mean some won’t have a few complications down the line. No one wants to get into trouble with their taxes, but it does happen, and when it does you need to take the right steps and get the right representation. Choosing the right tax attorney can be crucial in helping to sort out the mess in front of you. So, how can you find the best attorney?

Find an Attorney Who Specializes In Tax Matters

First and foremost you need to understand that while all attorneys are qualified to represent you in a court of law, each has their own speciality in the legal profession. For instance there are attorneys who specialize in real estate law and there are those who specialize in tax law. It is these individuals you want in your corner. Tax attorneys know the tax laws and regulations like the back of their hand and they are going to be the best people to help you also. It doesn’t matter if its fraud, tax evasion or any other type of tax issue, tax attorneys are the ones to choose.

Understand How an Attorney’s Fee Structure Works

Every attorney works differently. There are some who charge a flat fixed fee for the work they do while others choose to charge by the hour. However, before you decide on any attorney, you need to know how you will be charged. It doesn’t matter if the attorney only takes thirty minutes to help discuss your tax return you still need to be aware of how they work before you hire them. A lot of people don’t think about the fees which is understandable, because it is a panic-stricken time. That said, you still really need to think about them.  To find out more, check out this post:

Reputation and Experience Counts for Everything

Having a proven track record in dealing with tax matters can be crucial for you to consider when choosing the right tax attorney. You absolutely do not want to choose an attorney who has never tried a tax-related case because they simply don’t have the necessary experience. Also, you need to consider their reputation. If the attorney’s reputation is poor then there is a reason for that and it might be a wise decision to stay away from them and look elsewhere. It doesn’t matter if you want them to look over a few tax returns or want them to represent you in court, if they don’t have the reputation or experience to back them, walk away.

Get Professional Help

When you get into trouble with your taxes it can be an extremely frightening time. You probably didn’t want to do anything wrong but now it’s happened, the only thing you can do is find the right help. Tax attorneys are the people you should have fighting your corner. They know the laws and can fairly represent you in a court of law. It doesn’t matter if you aren’t facing trial, you may still require their help and tax attorneys can provide so much. Tax returns are important and if you make a mistake it could backfire on you, so contact a tax attorney today for help.

How Do I Obtain Past Tax Returns?

When people file tax returns a lot of the paperwork associated with it goes missing. Some lose their tax returns while others simply throw them away. However, you may need your past returns one day and when you do you need to know where to find them. Now a lot of people panic over finding their old returns, but it doesn’t have to be a difficult process. So, how can you obtain your past tax returns?

What Do You Require From You Past Tax Returns?

Before you get into a panic over your returns you have to firstly think about what you actually need. Do you require information about past tax refunds and the amounts you’ve received or is it more general information? If you pin down the information you need it will be a lot easier in the long run.

Ask Your Bank for Help

If your sole interest is to find out about past tax refunds you’ve received then you could easily find this information out via your bank. It doesn’t matter if you no longer have an account with the bank you can still ask them if they would check their records to give you the information. You may have to show identification to prove you are who you say you are but it shouldn’t be too much of an issue. Most banks can easily check their records and inform you of what you need to know within a matter of hours, if not less.

Ask Your Tax Accountant for the Information

If you have used a professional to help file your returns over the last few years then that person should have some record somewhere. Most accountants keep records, and usually very organized ones which might allow you to gain access to what you need. If the accountant hasn’t got any of your paperwork, they might be able to help you a little more with your tax returns.

If You Filed Online, Go Online

For those who are used to submitting their tax returns online there may be a very simple way to obtain past returns. You probably have gone through the official Australian government website in which you’ve submitted your returns and documentation so it is your best shot you’ll find what you need there. If you haven’t save a copy to your computer then you can go back through your past returns online, but only for the years you’ve submitted online. Hopefully this will give you the start you need to find the information you require. If you haven’t filed online, contact the government and ask if you can obtain a copy of your past returns stating the years you wish. It is worth a try? More explained in this link:

You Will Find Your Records

It might take a little time to track down your specific tax return from several years ago but you will find them eventuality. There are always records, so even if the bank or your accountant can’t help, the Inland Revenue probably will be able to lend a hand. You may want to check your old returns for any tax refunds due your way and if you use the right sources you can succeed.

Expatriate Tax Return – Ways To Save

Thousands of Australians living abroad don’t realize they still have to file a tax return each and every year. Now it does seem a little odd to file a tax return when you don’t even live in the country anymore but the truth of the matter is it’s the law. Remember, you are technically still a citizen of Australia and as such you have their protection should something go wrong. In reality, it is your duty to inform the government of your circumstances. It doesn’t matter whether or not you reside in the country for two days out of the year or two hundred, you are required to file.

You Can Save On a Lot of Tax

There is a high tax exemption threshold for Australians living abroad. This means you are going to pay considerably less tax, but while this can be a fantastic thing for you, it isn’t always as simple either. The process to file a tax return and obtain a tax refund is extremely difficult and it is one very murky area, too. However, if you have experience in dealing with this then you should find it plain sailing. Usually there is a lot of money to be saved, especially when you file early. Don’t miss that deadline otherwise you’ll face a fine.

A Complicated Procedure

To be honest the legalities of the expatriate tax return is extremely complicated and very lengthy. For those who want to decipher the regulations surrounding the tax return will be very brave because there are many who just don’t understand. The truth of the matter is while there are simple ways to save money you are going to go through a very long and complicated procedure. Unfortunately, nothing is free in life and you are going to work hard to understand the expatriate tax return system.

You Need Professional Help to Understand the Conditions

As said above, the process can be quite difficult because there are lots of forms to go through but if you get someone on your side to help, it will be much simpler. Professional tax accountants who deal in expatriate tax returns are the best people to seek help from. They know the tax laws better than anyone else and can actually make the process much easier for you to understand. What is more, they can handle the tax return forms which means you have more time to sit back and relax.

Follow the Rules

The expatriate returns system is quite complicated at the best of times but once you have some experience dealing with it, it will be a lot easier – as long as you follow all tax laws and rules. Of course if you were to get help to file then you don’t really need to worry because you know everything is being taken care of. Yes, taxes are worrying always but try and remain calm. If you have a little help then you should find it easy. You can save a lot of money and you might even see a nice tax refund.

Find out more informations here:

End of Year Tax Return

Millions of people hate it when the time comes around to file a tax return. There is a lot of confusion surrounding them and most people struggle with getting it right without some serious help. However, filing a tax return doesn’t need to be too complicated, not when you have an idea of where to start.

Do You Need To Fill Out A Tax Return?

There is a lot of confusion over who needs to file tax returns but it should be extremely clear. If you have worked in the past tax year you will be required to file a return. However, there may be some exceptions if you have been a casual worker and haven’t earned over a certain amount. In most cases you are best to submit a return; this will certainly cover you even if you aren’t required to file. Every person is different for those who work casually but if in doubt, contact Citizens Advice Bureau, and they should be able to help guide you a little more. If you do file a return you may be eligible for tax refunds.

How to File Online

Submitting a tax return over the internet is very simple. In fact, in the next few years almost every single person in Australia will be sending their returns electronically. The paper system is being slowly phased out so it’s wise to get in some practice now. However, it is really simple once you register with the Inland Revenue online service. Once you are registered you can use your log-in details and start the process. It works the same as a paper return with the exception the forms are online and you can fill out the details there. You can save what you write so you don’t need to rush in order to complete within a day. Just ensure you include all necessary information.

Remember What You Think Makes A Deduction Might Not Be Legit

You probably have a whole list of items in which you want to claim as an expense but unfortunately not all of these are going to be deductable. What you believe is a perfect deduction may not be considered by the Australian authorities, so you need to be aware of what makes a legit deduction. There are going to be many categories in which your deductions can fall into but sometimes they won’t be entertained. Filing a tax return is really complicated at times especially if you aren’t too sure what expenses are legit deductions. Take the time to learn and you should find the process much simpler.

Get Help If you’re Unsure

To be honest understanding the entire tax process can be extremely tough. Almost every year there are new laws or regulations and, as such, it is so hard to know every new change. However, that is why you may need to consult with a professional tax accountant so that everything is handled in the right way. If you have any questions or you aren’t sure about something related to your tax you need to ask a professional for help. Whether you have questions about your return or tax refunds you should ask a professional tax accountant or even contact the Australian government for more help.