Tag: Tax Returns

Bankruptcy Law, Timothy Kingcade Posts

When Can I File my 2013 Taxes?

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Due to the government shutdown, the filing date has been pushed back to file your 2013 tax returns. The IRS has announced plans to open the 2014 filing season on January 31, 2014, as opposed to the January 21st date. The government shutdown and the extensive set of ATRA tax changes affected many 2012 tax returns, which led to the late January opening.

The IRS noted several options available to help taxpayers prepare and receive their refunds as quickly as possible.

• Many software companies are expected to begin accepting tax returns in January and hold those returns until the IRS systems open on January 31.

• Taxpayers are encouraged to file their tax returns using e-file or Free File with the direct deposit option to receive their refunds the fastest.

• The April 15 tax deadline is set by statute and will remain in place. To receive an automatic six month extension, you will need to file Form 4868, electronically or through the mail.

Click here to read more on this story.

Bankruptcy Law, Credit, Timothy Kingcade Posts

January the Most Popular Month for Divorce

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The first month of the New Year is reportedly the most popular time of the year to file for divorce. Below are five financial reasons why:

1. Year-End Bonuses are a contributing factor of why many couples wait until January to divorce. In most states, once a divorce has been filed, any income that comes in after, is separate. Year-end bonuses are commonly fought over in divorces.

2. Cooling Off can be another factor in why spouses wait until January to file for divorce. Spouses are aware of the fact that their significant other might be less likely to settle if their holiday was ruined.

3. Holiday Shopping can be disastrous if spouses are angry at one other. The spouse that has been served the papers may go on a spree with the idea that he/she deserves it while the opportunity is present.

4. Tax Returns are commonly thought to be a contributing factor to whether a divorce is filed in December or January. While it really makes no difference when the divorce is filed, many couples are under the assumption its best to start the New Year with a clean slate.

5. More Time to Plan is available if a spouse waits to file for divorce in January. Both spouses have most likely had some time off for the holidays and are able to get end-of-year statements together. There is more time for spouses to sift through finances and gain a better prospective on what the future holds.

To read more on this story visit: http://www.nbcnews.com/business/considering-divorce-wait-until-january-1C7659310

If you are in a financial crisis and are considering filing bankruptcy, contact an experienced attorney who can advise you of all of your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia, P.A. at www.miamibankruptcy.com.