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FAQs
The IRS issues more than 9 out of 10 refunds in the normal time frame: less than 21 days. However, it’s possible that some tax returns may require further review and could result in the refund being delayed.
Some common issues which may extend processing times:
- You filed a paper return.
- You’re expecting a refund from an amended return. Refer to Where’s My Amended Return? for more information, including processing timeframes.
- If you filed an injured spouse claim, refer to Injured Spouse Relief for more information.
However, some taxpayers may see their refunds a few days earlier. Check Where’s My Refund? for your personalized refund date.
Help prepare tax returns and answer tax questions -Assist with tax questions, deductions, credits, and exemption claims -Avoid issues with the IRS and assist with back taxes -Save you time and money
You can file up to 3 years back. However, in special circumstances, you can go past 3 years.
Business credit is important for 3 main reasons. Having good business credit helps you in 3 ways:
- You can obtain business financing quicker and more easily.
- You can get better credit and repayment terms with suppliers.
- You can protect your personal credit score.
Limited liability companies are hybrid entities that combine the characteristics of a corporation with those of a partnership or sole proprietorship.
A limited liability company (LLC) is important because it protects its owners from personal responsibility for its debts or liabilities.
S corporations are corporations that elect to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes. Shareholders of S corporations report the flow-through of income and losses on their personal tax returns and are assessed tax at their individual income tax rates. This allows S corporations to avoid double taxation on the corporate income.