Tag: File Income Tax

How to File a Tax Amendment

Written by Paul Belfiore on April 23, 2021. Posted in Blog, Taxes.

Brookline, NH Residents Needs Help

To file a tax amendment, you will need to submit new forms for the sections of your taxes that are being amended. The IRS’ web site allows you to download these forms from previous tax years. You will need to submit the 1040X form, also available on the IRS web site. Using this form, you can write in the reason for filing the amendment.

A Brookline resident needed to make an amendment to a previous year’s tax return. Wanting to make sure this was done properly, he contacted Merrimack Tax Associates.

Single vs. Head of Household

Written by Paul Belfiore on March 12, 2021. Posted in Blog, Taxes.

Amherst, NH Resident Has Questions

Unmarried individuals have the option of either single or head of household as their tax status. When filing as head of household, you have a much higher standard deduction than single filers, as well as a better overall tax rate. To qualify as head of household you must be unmarried, pay greater than half the costs of supporting a household and have at least one dependent that lives with you.

When Does Your Child Need to File Income Tax?

Written by Paul Belfiore on October 16, 2020. Posted in Blog, Taxes.

Parents in Milford, NH Have Questions

A rite of passage for any working teen is the filing of their first income tax. A status as a dependent does not exempt your child from filing income taxes. If the child’s earned income reaches $12,200 or unearned income, from investment interest, above $1,100. For those that are self-employed generating income, if the net earnings exceed $400 an income tax return must be filed.