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FAQ Page

Frequently Asked Questions

We know that you may have questions about tax filings, preparation or investment queries

Please view some of the more common queries below to answer your questions, if you are still confused or need further information please contact us

  • How do I notify the IRS my address has changed?

    If you filed a joint return, and are still residing with your spouse, both you and your spouse should sign the form or statement.

    If you filed a joint return and you now have separate addresses, each of you should notify us of your new, separate address.

    Authorized representatives filing a form or written statement to change an address for a taxpayer must attach a copy of their power of attorney or Form 2848Power of Attorney and Declaration of Representative. Unauthorized third parties can't change a taxpayer's address.

    Changes of address through the U.S. Postal Service (USPS) may update your address of record on file with us based on what they retain in their National Change of Address (NCOA) database. However, even when you notify the USPS, not all post offices forward government checks, so you should still notify us.

    For changes of address relating to an employment tax return, we issue confirmation notices (Notices 148A and 148B) for the change to both the new and former address.

  • Is there an age limit on claiming my child as a dependent?

    To claim your child as your dependent, your child must meet either the qualifying child test or the qualifying relative test:

    • To meet the qualifying child test, your child must be younger than you and either younger than 19 years old or be a "student" younger than 24 years old as of the end of the calendar year.
    • There's no age limit if your child is "permanently and totally disabled" or meets the qualifying relative test.

    In addition to meeting the qualifying child or qualifying relative test, your child must also meet all of the other tests for claiming a dependent:

    1. Dependent taxpayer test
    2. Citizen or resident test, and
    3. Joint return test
  • How much income can an unmarried dependent student make before he or she must file an income tax return?

    An unmarried dependent student must file a tax return if his or her earned or unearned income exceeds certain limits. To find these limits, refer to Dependents under Who Must File, in  Publication 501Exemptions, Standard Deduction, and Filing Information.

    Even if you don't have to file a federal income tax return, you should file if you can get money back (for example, you had federal income tax withheld from your pay or you qualify for a refundable tax credit).

  • If I claim my daughter who is a full-time college student as a dependent, can she claim her own personal exemption when she files her return?

    If you can claim an exemption for your daughter as a dependent on your income tax return, she can't claim her own personal exemption on her income tax return. Your daughter should check the box on her return indicating that someone else can claim her as a dependent.
  • What should I do if I made a mistake on my federal return that I've already filed?

    It depends on the type of mistake you made:

    • Many mathematical errors are caught during the processing of the tax return and corrected by the IRS, so you may not need to correct these mistakes.
    • If you didn't claim the correct filing status or you need to change your income, deductions, or credits, you should file an amended or corrected return using Form 1040XAmended U.S. Individual Income Tax Return.

    When filing an amended or corrected return:

    • Include copies of any forms and/or schedules that you're changing or didn't include with your original return. To avoid delays, file Form 1040X only after you've filed your original return. Generally, for a credit or refund, you must file Form 1040X within 3 years after the date you timely filed your original return or within 2 years after the date you paid the tax, whichever is later.
    • Allow the IRS up to 16 weeks to process the amended return.
  • To qualify for head of household filing status, do I have to claim my child as a dependent?

    Generally, to qualify for head of household, you must have a qualifying child or dependent. However, a custodial  parent may be able to claim head of household filing status with a qualifying child even if he or she released a claim to exemption for the child.
  • What is a split refund?

    A split refund lets you divide your refund, in any proportion you want, and direct deposit the funds into up to three different accounts with U.S. financial institutions. Use Form 8888Allocation of Refund (Including Savings Bond Purchases), to request to have your refund split or to use part or all of your refund to buy up to $5,000 in paper or electronic U.S. Series I Savings Bonds for yourself or someone else.
  • What are the tax changes for this year?

    For highlights of the tax changes for the current tax year, refer to the "What's New" section of the following:

    Individuals - Instructions for Form 1040Instructions for Form 1040A, or Instructions for Form 1040EZ.

    Businesses - Publication 15 (Circular E)Employer's Tax Guide, or the instructions of your current business tax forms.