I think it's dangerous any time you spend money before it's in your hand. You never know what's going to happen.
There are always ifs, ands or buts.
A lot of anxiety is created by people when they think about filing their tax return. It's like going to the dentist. Just do it and get it over with.
It used to be, if you sold your main residence, you had to either pay tax on the gain or buy another home that cost more than the home you sold. Because the rules have changed, you no longer have to worry about that gain.
Those payments are seized by the government.
Sometimes it is fun to go back and look at old tax records. But for reasons other than nostalgia, it's not necessary to hold on to most of your records for more than three years.
They basically just got rid of the flat definition which said a foster child is any child you care for as your own and cared for the entire year. In a way, a lot more people could qualify for the Earned Income Credit than did before.
Because of the way this form used to work, it calculated the tax as if you had received the money over a five-year period. You would divide it into five equal parts and pay taxes on each of those parts which significantly reduced your tax bill.
If you're getting a refund, you'll get that refund sooner.
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