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How quickly can I get my refund? 

When we file your return electronically and it's accepted by IRS, you can expect to receive your refund directly from the IRS by direct deposit in approximately 21 days. However, the IRS does not guarantee a specific date that a refund will be deposited into a taxpayer's financial institution account or mailed.You can also go to the IRS Where's My Refund page and check the status of your refund.

I need to change my withholding. How do I update my personal information?
Use IRS Form W-4,Employee's Withholding Allowance Certificate. If you get married or divorced, if a child is born, or if you no longer can claim a child as your dependent, you will need to complete a new Form W-4. When you begin to work at a new company, your employer must give you a Form W-4 to complete. 

Income Tax Withholding Calculator 
If you are an employee, the Withholding Calculator can help you determine whether you need to give your employer a new Form W-4, Employee's Withholding Allowance Certificate to avoid having too much or too little Federal income tax withheld from your pay. You can use your results from the calculator to help fill out the form.

Why is my refund less this year?
This is one of the most frequently asked questions. There are many reasons why your taxes may have changed. However, a handful of factors are fairly common. To make a comparison you can review this year's tax return and last year's tax return. A larger taxable income and/or smaller total payments would result in a smaller refund. The amount of total credits will also affect your refund. Common Factors may include: 

  • Change in Income/withholdings: (Decrease in withholdings on your W-4; received Unemployment Income;
  • Did you not receive the Earned Income Tax Credit? Your income increased over the last year; additional income from another job or spouse started working; or had gambling winnings.
  • Changes in Filing Status/Single/Married, Head of Household, etc.: (Did your filing status change?)
  • Changes in children/dependents; Education/Tuition; Home/Property Related; Military Service

Do you stand behind your work?
When you pay for tax preparation at Beck's Tax & Business Services, you are automatically covered under our Accuracy Guarantee which entitles you to reimbursement of penalties and interest charged by a taxing authority if one of our Tax Preparers makes an error preparing your tax return. If a taxing authoring notifies you of an error (not made by one of our Tax Preparers), we still have a worry-free coverage. Contact us and we will work with you to resolve the issue.

How do I get a copy of a prior-year tax return and Form W-2?
If you filed your tax return through Beck's Tax & Business Services, then you can get a copy of your records from us. Otherwise, as long as you filed your tax return with the IRS, you can request a photocopy or a computer transcript (a line-by-line listing) of the information on your filed tax return. We can assist you with requesting one, or you can visit the IRS website for additional instructions. IRS Transcripts

What is the Earned Income Tax Credit (EITC) and am I eligible?

The Earned Income Tax Credit (EITC) is applicable to low-income workers who may or may not have a qualifying child, or children, living with them. If you can take the EITC, then it is subtracted from the tax owed. The credit can be refunded even if you don't owe any tax. The maximum amount of credit for Tax Year 2015 is:
$6,242 with three or more qualifying children
$5,548 with two qualifying children
$3,359 with one qualifying child
$503 with no qualifying children

How much is the Standard Deduction for tax year 2015?

There are two main types of tax deductions: the standard deduction and itemized deductions. You can claim one type of deduction on your tax return, but not both. You are allowed to use whichever type of deduction results in the lowest tax.
The standard deduction is subtracted from your Adjusted Gross Income (AGI), thereby reducing your taxable income. For tax year 2015, the standard deduction amounts are as follows:
Filing Status/Standard Deduction

  • Single $6,300
  • Married Filing Jointly $12,600
  • Married Filing Separately $6,300
  • Head of Household $9,250
  • Qualifying Widow(er) $12,600​

How much are the tax year 2015 Personal Exemption Amounts? 
For tax year 2015, the personal exemption amount is $4,000 (up from $3,950 in 2014). The personal exemption amount “phases out” for taxpayers with higher incomes.

I received unemployment. Is this taxable?
Yes, all unemployment compensation paid by the state and local governments is taxable.

What types of educational expenses are deductible?
Deductible educational expenses are: Amounts spent for tuition, books, supplies, laboratory fees and similar items.They also include the cost of correspondence courses, as well as formal training and research you do as part of an educational program. Transportation and travel expenses to attend qualified educational activities may also be deductible. qualified educational activities may also be deductible.