Tax Returns & Refunds: How To’s
I filed my tax return and I still haven’t received my refund.
When Savutax completes your tax return, and you have paid for the services, we then submit your return to the tax agencies. Once the returns have been submitted, we no longer have control or visibility of your tax return filing progress.
You can check the IRS website and check the state's website for the status of the refund. Notices sent from the tax agencies will go directly to you. Savutax does not receive notices on your behalf except in cases where we represent you during an audit. You receive the notice in the mail or it sometimes is on the IRS website when you look up your refund status. If you do receive a notice, please upload it to your account for us to review. Please see our Home page and click the IRS.Gov button to be redirected.
Where do I send my documents?
Please upload all relevant tax documents to your Tax Dome portal once you have received your welcome email. Remember to verify that you are uploading documents for the correct tax year so that your documents are not mixed with documents from prior years. Please do not send your tax documents via email unless we instruct you to do so. In which case, we will give you a secure email address to use.
Why are my colleague's refunds higher than mine and we work at the same place and make the same salary?
Every person’s tax situation is different even if they have the same job and earn the same salary. The differences could be how the W-4 form was completed which tells your payroll department how much money to withhold from your paycheck for tax purposes.
It could also be the difference between a married person with or without dependents versus a single person. Another example is if someone worked the full 12 months versus someone who only worked a few months for the current tax year.
For example, two colleagues may earn the same salary and have identical withholding. However, one person worked for the full year, and the other worked for 6 months. The person who worked the full year will potentially receive a higher refund because they earned more and had more tax withholding than the colleague who only worked for six months.
Please be aware that we cannot discuss another person’s tax situation due to privacy laws.
Why is my tax return in review/audit examination?
Unfortunately, we have no control over who or why a tax return is selected for examination. Generally, the state and the IRS use random methods to choose tax returns for examination. If the IRS or state needs further information they will send out a notice directly to you. Protection Plus is an excellent way to cover yourself in case your return is selected for an audit. For questions or assistance, please feel free to reach out to us.
Tax extensions and More!
What is a tax Extension?
A tax extension gives taxpayers additional time to file their income tax returns with the IRS or state tax agency. While the extension delays the due date for filing the paperwork, it does not extend the time to pay any taxes owed. If taxes are owed, interest will begin to accrue the day after the tax deadline. However, if taxes are owed, a penalty will not be assessed with the extension.
The extension of time to file is for 6 months. Individuals and businesses can file an extension.
If I file my tax return late, past the deadline, will I get in trouble?
In the United States, you have 3 years to claim a refund. While it is true that a tax return is required to be filed yearly if your income exceeds the gross earnings threshold (see below), there are no financial repercussions with returns that are due for a refund if the return is filed after the tax deadline. Meaning that you will not get in trouble if you file your tax return after the tax deadline. That being said, there may be other reasons why you would want to file your tax return timely. For example, applying for a mortgage, or student loan. In many cases, showing the extension form instead of the tax return will be acceptable.
Keep in mind, that roughly 162 million returns are processed by the IRS yearly. 129 million are processed between late January and April 15th. Knowing that you will get a refund and you do not have to file by the tax deadline and file an extension instead, should provide some stress relief during the very busy tax season.
I earned roughly $10,000 last year. Do I have to file a tax return?
The IRS sets minimum income thresholds based on gross income, which is all income received in the form of money, goods, property, or services.
Filing Thresholds for Single Filers (Under Age 65)
If you are a single filer under 65, you must file if your gross income is at least $14,600 for 2024. Since you earned only $10,000, you generally would not need to file a tax return. However, you may want to file if you had Federal and State withheld from your paycheck. Filing a tax return is the way to obtain a refund.
The threshold for a single filer over the age of 65 is $16.550 for tax year 2024.
I receive social security, and it’s my only income source. Do I have to file a tax return?
If social security is your only income source, then filing a tax return is not required. However, if you have Federal taxes withheld, you may want to file a return to obtain a refund.
I receive Social Security, and my son takes care of me. Can he claim me on his tax return?
If your son helps with your living situation, he may be able to claim you on his tax return. He must be able to pass the support test and provide more than 50% of your total support for the year. You must also be a U.S. Citizen, a resident alien, or a resident of Canada or Mexico. Your income cannot exceed $5,050 for 2024 (not including social security income).