Frequently Asked Questions
Question 1: How long should I keep my tax return?
Answer: The general rule of thumb is to keep your return for 3 years after you file your return or 2 years after you pay the tax owed, whichever is later. However, if you have worthless securities that you are claiming that year, you should keep your return for 7 years. After that time has passed, feel free to destroy your return and the originals.
Question 2: How can I track my refund?
Answer: You can track your federal tax return refund via the IRS website "Where's my refund?". Just enter your social security number, filing status, and the refund expected. The website will be able to tell you where you are in the process.
Question 3: Do I even need to file a tax return?
Answer: That depends. If you are below a certain amount of income, you don't have to file. However, if you are below that criteria but you had federal taxes withheld, you will want to file to get your refund. You might also qualify for some other tax credits so I would recommend calling in and asking.
Question 4: Do I have to have health insurance?
Answer: Starting in the 2019 tax year, you are no longer required to have health insurance by the federal government. This means that there is no more penalty assessed by the government on your tax return. In tax years before 2019, the answer is different. I would recommend calling in and asking for your particular situation.
Answer: The general rule of thumb is to keep your return for 3 years after you file your return or 2 years after you pay the tax owed, whichever is later. However, if you have worthless securities that you are claiming that year, you should keep your return for 7 years. After that time has passed, feel free to destroy your return and the originals.
Question 2: How can I track my refund?
Answer: You can track your federal tax return refund via the IRS website "Where's my refund?". Just enter your social security number, filing status, and the refund expected. The website will be able to tell you where you are in the process.
Question 3: Do I even need to file a tax return?
Answer: That depends. If you are below a certain amount of income, you don't have to file. However, if you are below that criteria but you had federal taxes withheld, you will want to file to get your refund. You might also qualify for some other tax credits so I would recommend calling in and asking.
Question 4: Do I have to have health insurance?
Answer: Starting in the 2019 tax year, you are no longer required to have health insurance by the federal government. This means that there is no more penalty assessed by the government on your tax return. In tax years before 2019, the answer is different. I would recommend calling in and asking for your particular situation.