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How long will it take to receive your Ohio, IRS tax refund? See the estimated schedule

How long will it take to receive your Ohio, IRS tax refund? See the estimated schedule

Yahoo23-04-2025

While tax season is over for most Americans, the Internal Revenue Service continues to process refunds after the filing deadline. Depending on how you file can affect how long you'll have to wait for your refund.
If you're owed a tax refund, it helps to know the IRS refund schedule. Here's when you could expect to see your money.
If your taxes were electronically filed and accepted by April 7, it is estimated that you may see a direct deposit federal refund from the IRS by April 28, or June 6 by mail.
If you filed your taxes electronically and they were accepted by April 15, it is estimated that you may expect a direct deposit federal refund from the IRS by May 6, or June 16 by mail.
Ohioans who want to track state refunds can do so through the Department of Taxation's eServices Tool. It provides information for IT 1040 or SD 100 forms and is available for the current year and the past two years.
If you already filed and are expecting a federal refund, it takes about 21 days to receive it from an e-filed return, and four weeks or more if mailed to the IRS.
You can keep track of your federal refund through the IRS' "Where's my refund?" tool, the IRS2Go mobile app. You'll need to enter your filing status, social security or individual taxpayer ID number (ITIN), and exact refund amount.
Submitting your return is not the same as the IRS accepting your return. Once it is accepted — you will know it has if you see a "Refund Sent" alert when you check your tax return status online — you won't have to wait too long for the funds to show up in your account.
Once the IRS approves your refund, it could hit your bank account within days via the direct deposit option.
This article originally appeared on The Columbus Dispatch: IRS refund schedule: How to check federal, Ohio refund status

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Retirement doesn't mean staying put. For many retirees, it means something far more adventurous: moving abroad. One-third (34%) of Americans would like to settle in another country if they were... This story originally appeared on Due Retirement doesn't mean staying put. For many retirees, it means something far more adventurous: moving abroad. One-third (34%) of Americans would like to settle in another country if they were allowed to do so, according to a Monmouth University survey from 2024. This number only stood at 10% in 1974. Although this is a growing trend, some individuals may choose to relocate within the U.S. rather than move abroad. Regardless, retiring internationally can be a dream come true, regardless of whether you want to save money, enjoy warmer weather, or experience a new culture. But only if you've done your homework and laid the financial groundwork. 1. 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Often, short-term rental agreements and digital nomad visas make this transition and evaluation more convenient. Final Thoughts: Charting a Course for a Financially Secure Global Retirement Retiring abroad can be the start of a new chapter in your life. Realizing this dream, though, takes careful planning, research, and understanding the unique financial landscape of international living. Don't be afraid to weigh your options, run the numbers, and get expert advice. A little preparation and financial awareness could help you trade the familiar for the foreign and enjoy a richer, more adventurous, and even more affordable retirement. FAQs Can I really afford to retire abroad? How do I assess the cost of living? Almost every aspiring expat retiree asks this question, and the answer is: it depends. In the same country, even within different regions, the cost of living varies dramatically from country to country. For instance, Portugal's small towns are often more affordable than Paris's. 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In this immersion, you will get a realistic picture of what it costs to live on a daily basis. Factor in your lifestyle. Are you planning to eat out frequently? Is a car necessary? What kind of lifestyle would you prefer, a busy city life or a quieter rural one? The lifestyle you choose will have a significant impact on your spending. Often, retiring abroad is driven by a lower cost of living, which enables your pension, Social Security, and savings to stretch further. You can, however, ruin your dream if you miscalculate these costs. If I move abroad, what will happen to my U.S. retirement accounts (401(k)s, IRAs)? Can I transfer them? While living overseas, you can generally maintain your U.S.-based 401(k) and IRA accounts. Maintaining accounts. Most U.S. financial institutions allow you to keep your retirement accounts open. In some cases, however, providers may be unable to provide services to non-residents, so you may have to transfer your IRA to another custodian that caters to expats (e.g., Interactive Brokers, Charles Schwab). Most U.S. financial institutions allow you to keep your retirement accounts open. In some cases, however, providers may be unable to provide services to non-residents, so you may have to transfer your IRA to another custodian that caters to expats (e.g., Interactive Brokers, Charles Schwab). Contributions. In general, IRAs require earned income to contribute, which may pose a problem if your only source of income is retirement distributions or if the FEIE fully excludes your foreign earnings. In general, IRAs require earned income to contribute, which may pose a problem if your only source of income is retirement distributions or if the FEIE fully excludes your foreign earnings. Withdrawals. As usual, you can continue to take distributions from your U.S. retirement accounts. But, you still have to comply with U.S. income tax rules and early withdrawal penalties (if you are under 59 1/2). As usual, you can continue to take distributions from your U.S. retirement accounts. But, you still have to comply with U.S. income tax rules and early withdrawal penalties (if you are under 59 1/2). Transferring funds. Generally, you cannot transfer funds directly from a tax-advantaged U.S. retirement account (such as a 401(k) or IRA) to a foreign retirement account without significant tax consequences. Typically, such a 'transfer' would be treated as a taxable withdrawal from your U.S. account and a deposit into a non-qualified foreign account. Generally, you cannot transfer funds directly from a tax-advantaged U.S. retirement account (such as a 401(k) or IRA) to a foreign retirement account without significant tax consequences. Typically, such a 'transfer' would be treated as a taxable withdrawal from your U.S. account and a deposit into a non-qualified foreign account. Double taxation on distributions. Although U.S. tax treaties often prevent double taxation on pension income, it's important to understand the specifics. While the U.S. does not tax withdrawals from Roth accounts (if qualified), some countries do. You may also have to pay taxes on your U.S. pension or Social Security benefits if you live in a foreign country. Although U.S. tax treaties often prevent double taxation on pension income, it's important to understand the specifics. While the U.S. does not tax withdrawals from Roth accounts (if qualified), some countries do. You may also have to pay taxes on your U.S. pension or Social Security benefits if you live in a foreign country. Currency risk. When you have your retirement savings in U.S. dollars, you are at risk of currency exchange rate fluctuations. Your purchasing power will decrease when the U.S. dollar weakens against your local currency. Consult with a financial advisor specializing in international retirement planning to optimize tax efficiency, manage currency risk, and strategize withdrawal plans. What are the tax implications of retiring abroad as a U.S. citizen? This is perhaps the most challenging financial issue for U.S. citizens retiring abroad. In addition to Eritrea, the U.S. has the only policy of taxing citizens regardless of where they reside. If your global income exceeds IRS thresholds, you must still file a U.S. federal tax return annually, even if living abroad. Key tax considerations; Worldwide income taxation. The U.S. taxes your income, including Social Security, pensions, investment income (dividends, interest, capital gains), and income from post-retirement work. The U.S. taxes your income, including Social Security, pensions, investment income (dividends, interest, capital gains), and income from post-retirement work. Foreign tax credit (Form 1116). By offering the Foreign Tax Credit, the U.S. prevents double taxation (paying taxes to the U.S. and your new home country). If you have paid income taxes to a foreign government, you can claim a credit against your U.S. tax liability. Usually, if your foreign tax rate is higher than or equal to your U.S. rate, this credit can eliminate your U.S. tax bill on that foreign income. By offering the Foreign Tax Credit, the U.S. prevents double taxation (paying taxes to the U.S. and your new home country). If you have paid income taxes to a foreign government, you can claim a credit against your U.S. tax liability. Usually, if your foreign tax rate is higher than or equal to your U.S. rate, this credit can eliminate your U.S. tax bill on that foreign income. Foreign Earned Income Exclusion (FEIE —Form 2555). The FEIE does not generally apply to passive income such as pensions or Social Security benefits. It is mainly for 'earned income' (wages, salaries, and self-employment). The FEIE does not generally apply to passive income such as pensions or Social Security benefits. It is mainly for 'earned income' (wages, salaries, and self-employment). Foreign Bank Account Report (FBAR – FinCEN Form 114). When the aggregate value of all your foreign financial accounts (including bank and investment accounts) exceeds $10,000, you must report them to the Treasury Department. It is a reporting requirement, not a tax. When the aggregate value of all your foreign financial accounts (including bank and investment accounts) exceeds $10,000, you must report them to the Treasury Department. It is a reporting requirement, not a tax. FATCA (Foreign Account Tax Compliance Act). Under this law, foreign financial institutions must report information about accounts held by U.S. citizens to the IRS. Under this law, foreign financial institutions must report information about accounts held by U.S. citizens to the IRS. Tax treaties. Many tax treaties between the U.S. and other countries are designed to avoid double taxation and clarify which country has primary jurisdiction over certain types of income. In some cases, such as pension distributions, these treaties may offer relief, but the terms vary from country to country, so due diligence is required. Many tax treaties between the U.S. and other countries are designed to avoid double taxation and clarify which country has primary jurisdiction over certain types of income. In some cases, such as pension distributions, these treaties may offer relief, but the terms vary from country to country, so due diligence is required. State taxes. You may still owe state income taxes if you still have ties to the state you last lived in (property, dependents, etc.). You may still owe state income taxes if you still have ties to the state you last lived in (property, dependents, etc.). Estate and gift taxes. No matter where they reside, U.S. citizens are subject to U.S. estate and gift taxes. The process of navigating international tax laws is complex. It only takes one mistake to incur significant penalties or unexpected tax bills. Before moving abroad, it is highly recommended that you speak with a tax professional who specializes in U.S. expat taxation. What about healthcare? Will Medicare cover me abroad? There's a common misconception that Medicare follows retirees overseas, which can be a significant financial burden for them. However, in most cases, Medicare Parts A and B do not cover healthcare services outside the U.S. In rare cases (such as if a foreign hospital is closer than a U.S. one in an emergency), Medicare Parts A and B cover healthcare services outside of the U.S. As such, consider your options for healthcare abroad, such as: Local public healthcare system. In many countries, public healthcare is well-developed. In some cases, you may be able to access local public healthcare at a significantly lower cost or even for free, if you establish legal residency and meet specific eligibility criteria (which might include paying into the local social security system). In many countries, public healthcare is well-developed. In some cases, you may be able to access local public healthcare at a significantly lower cost or even for free, if you establish legal residency and meet specific eligibility criteria (which might include paying into the local social security system). Private international health insurance. For expats, this is a popular choice. With these plans, you can choose your own doctor and facility and have access to 24-hour emergency assistance. Age, health, and coverage level can all influence premiums. Make sure you compare plans carefully and shop around. For expats, this is a popular choice. With these plans, you can choose your own doctor and facility and have access to 24-hour emergency assistance. Age, health, and coverage level can all influence premiums. Make sure you compare plans carefully and shop around. 'Pay-as-you-go.' Some expats choose to pay out-of-pocket for medical services when healthcare costs are low, especially for routine care. However, there is a significant risk associated with this for major emergencies or chronic conditions. Some expats choose to pay out-of-pocket for medical services when healthcare costs are low, especially for routine care. However, there is a significant risk associated with this for major emergencies or chronic conditions. Keep Medicare Part A (hospital insurance). If you've paid Medicare taxes for enough years, Part A typically has no premium. You will be covered when you return to the U.S. for extended periods or major procedures. has no premium. You will be covered when you return to the U.S. for extended periods or major procedures. Consider keeping Medicare Part B. Part B has a premium, but if you decide to return permanently to the U.S., you won't be penalized for late enrollment. In general, healthcare expenses can be among the largest retirement expenses. To feel financially secure, you must understand your options and secure appropriate coverage. Do I need to consult with experts before retiring abroad? Absolutely, yes. Several aspects of retiring abroad are best navigated with the assistance of a professional. International tax specialist. It is essential to have a thorough understanding of U.S. tax obligations, foreign tax laws, and tax treaties. It is essential to have a thorough understanding of U.S. tax obligations, foreign tax laws, and tax treaties. Financial advisor specializing in expats. Can help you strategize investments, manage income streams, and build a strong financial plan for an international lifestyle. Can help you strategize investments, manage income streams, and build a strong financial plan for an international lifestyle. Immigration lawyer. It is essential to have a detailed understanding of visa requirements, residency requirements, and property ownership laws in the country of your choice. It is essential to have a detailed understanding of visa requirements, residency requirements, and property ownership laws in the country of your choice. Local experts. An accountant, lawyer, and real estate agent in your chosen country can provide insight into local laws, customs, and practicalities. Ultimately, international finance, legal requirements, and tax laws are too complex to handle without professional assistance. Investing in professional guidance upfront can save time, money, and stress in the long run. Image Credit: Andrea Piacquadio; Pexels The post Your Passport to Paradise: Financial Prep for Retiring Abroad appeared first on Due.

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Associated Press

time23 minutes ago

  • Associated Press

Divorced and Facing IRS Collection? Clear Start Tax Outlines How Innocent Spouse Relief Could Save You Thousands

Clear Start Tax Explains How Divorced Taxpayers Can Escape IRS Liability for a Former Spouse's Mistakes IRVINE, CA / ACCESS Newswire / June 6, 2025 / Divorce can be complicated enough without the added stress of IRS debt. Yet every year, countless divorced Americans are shocked to discover they're on the hook for a former spouse's tax liabilities - often for mistakes they didn't know about. According to Clear Start Tax, a leading national tax resolution firm, the IRS's Innocent Spouse Relief program can offer a powerful - and often overlooked - solution. When Divorce Leaves Taxpayers Facing a Former Spouse's Mistakes Many taxpayers assume that a divorce decree automatically separates their financial obligations. But under joint tax returns, the IRS can pursue either spouse for the full amount owed, including taxes, penalties, and interest. That means years after a divorce, one spouse may face wage garnishment, bank levies, or collection notices for a tax bill they had no role in creating. 'We've worked with clients blindsided by IRS letters years after their divorce,' said the Head of Client Solutions at Clear Start Tax. 'Innocent Spouse Relief can be a lifeline in these cases - but most people don't even realize it exists.' Who Qualifies for Innocent Spouse Relief? Clear Start Tax explains that the IRS looks at several key factors when reviewing Innocent Spouse claims: Why the Right Approach Is Essential for Approval While the program offers powerful protection, Clear Start Tax emphasizes that success depends on a careful application and thorough documentation. Missing deadlines, submitting incomplete paperwork, or misunderstanding eligibility rules can lead to denial, leaving taxpayers exposed to the full debt. 'Innocent Spouse Relief isn't just a form-it's a carefully built case,' said the Head of Client Solutions at Clear Start Tax. 'We work closely with our clients to present the strongest possible application, so they can move forward without being burdened by a former partner's tax mistakes.' How Clear Start Tax Helps Divorced Taxpayers Regain Control Clear Start Tax offers a hands-on, strategic approach to Innocent Spouse claims and other tax resolution programs: About Clear Start Tax Clear Start Tax is a full-service tax liability resolution firm that serves taxpayers throughout the United States. The company specializes in assisting individuals and businesses with a wide range of IRS and state tax issues, including back taxes, wage garnishment relief, IRS appeals, and offers in compromise. Clear Start Tax helps taxpayers apply for the IRS Fresh Start Program, providing expert guidance in tax resolution. Fully accredited and A+ rated by the Better Business Bureau, the firm's unique approach and commitment to long-term client success distinguish it as a leader in the tax resolution industry. Need Help With Back Taxes? Click the link below: Contact Information Clear Start Tax Corporate Communications Department [email protected] (949) 535-1627 SOURCE: Clear Start Tax press release

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