Want to collect your 2015 tax refund now?
[vc_row][vc_column][vc_column_text]If you typically receive a large federal income tax refund, you are essentially making an interest-free loan to the IRS. Rather than wait until you file your 2015 tax return in 2016, you can begin enjoying your “refund” now by reducing your withholdings or estimated tax payments for the remainder of 2015.
It’s particularly important to review your withholdings, and adjust them if necessary, when you experience a major life event, such as marriage, divorce, birth or adoption of a child, or a layoff suffered by you or your spouse.
Contact Whalen & Company, CPAs for help determining what your withholding or estimated tax payments should be for the second half of the year.
Copyright 2015 Thomson Reuters
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