Latest news with #W-2s
Associated Press
15-05-2025
- Business
- Associated Press
Informative Research Integrates AccountChek® with Halcyon to Automate Income Validation
GARDEN GROVE, Calif., May 15, 2025 (SEND2PRESS NEWSWIRE) — Informative Research, a premier technology provider delivering data-driven credit and verification solutions to the lending community, today announced a strategic integration with Halcyon, a fintech innovator revolutionizing income verification through real-time access to IRS tax transcript data. This integration delivers verification of employment and income (VOE/I) reports—including payroll and paystub data—directly into Halcyon's income calculator, enabling faster, more automated income assessments. The data is obtained through Informative Research's AccountChek® consumer-permissioned connectivity to major payroll providers. By directing this information into Halcyon's income calculator, the integration facilitates real-time, automated income validation that complies with investor guidelines and rep and warrant relief strategies. 'This is a solution designed for scalability,' said Kirk Donaldson, CEO of Halcyon. 'Whether validating pay stubs, W-2s or tax transcripts, lenders receive verified data and completed income calculations. It's faster, more cost-effective and automated.' The integration supports modern mortgage operations without compromising compliance or control by emphasizing automation, auditability and borrower transparency. Lenders gain access to secure, permissioned income data while enhancing efficiency and delivering a smoother borrower experience. 'This is an exciting advancement of our partnership, bringing together IR's payroll-direct income and employment verifications with Halcyon's rich tax data and proprietary income calculation capability,' said Steve Schulz, executive vice president at Informative Research. 'Together, we're equipping lenders with a streamlined way to analyze and validate income in a fast, compliant and cost-effective way, and this is just the beginning—we're already working on additional innovations with Halcyon that will bring even more value to our clients.' About Informative Research Informative Research, a Stewart company, is a premier technology provider delivering data-driven credit and verification solutions to the lending community. The solutions provider currently serves mortgage companies, banks, and lenders throughout the United States. The company is recognized for streamlining the loan process with its straightforward service model, progressive solutions, and cutting-edge technology. To learn more, visit About Halcyon Halcyon assists in deepening lenders' overall relationship with their borrowers to offer products and services specific to everyone, creating additional revenue streams beyond the initial loan closing. They have multiple products that ensure you will know more about your borrower every step of the way – IRS income & tax transcripts, digitally prepared tax returns, and a Registered Investment Advisory platform to offer full financial services to your borrowers. Visit NEWS SOURCE: Informative Research ### MEDIA ONLY CONTACT: (not for publication online or in print) Lindsey Neal Depth for Informative Research (404) 549-9282 [email protected] ### Keywords: FinTech, Informative Research, AccountChek, Halcyon, fintech, income verification, voie, GARDEN GROVE, Calif. This press release was issued on behalf of the news source (Informative Research) who is solely responsibile for its accuracy, by Send2Press® Newswire. Information is believed accurate but not guaranteed. Story ID: S2P126226 APNF0325A To view the original version, visit: © 2025 Send2Press® Newswire, a press release distribution service, Calif., USA. RIGHTS GRANTED FOR REPRODUCTION IN WHOLE OR IN PART BY ANY LEGITIMATE MEDIA OUTLET - SUCH AS NEWSPAPER, BROADCAST OR TRADE PERIODICAL. MAY NOT BE USED ON ANY NON-MEDIA WEBSITE PROMOTING PR OR MARKETING SERVICES OR CONTENT DEVELOPMENT. Disclaimer: This press release content was not created by nor issued by the Associated Press (AP). Content below is unrelated to this news story.
Yahoo
15-05-2025
- Business
- Yahoo
Register for summer and fall classes, financial aid at BPCC
BOSSIER PARISH, La. (KTAL/KMSS) – Bossier Parish Community College (BPCC) will hold a Summer Registration and Financial Aid event for new and returning students. The event will be held on Tuesday, May 27, from 9 a.m. to 6 p.m. at all three of its campuses: Bossier, Natchitoches, and Sabine Valley. During the event, students will be able to: Register for Summer 2025 and Fall 2025 classes Meet with academic advisors for help with course selection and registration Get help with financial aid and military/veteran benefits LSUA, BPCC team up for disaster and emergency program FAFSA Completion Events will guide students and families through the financial aid process on Tuesday, May 20, at the Natchitoches campus and Wednesday, May 21, at the Bossier campus, both from 9 a.m. to 1 p.m. BPCC encourages students to bring their FSA ID, 2023 federal 1040 tax forms, and 2023 W-2s. Since the FAFSA is role-based, a parent or guardian should accompany dependent students to help them complete the application accurately. Summer classes start on May 29, with fall classes beginning August 14. Students must register for each session by the first day of class. BPCC Natchitoches launching new fiber optics certification program 'BPCC offers a wide range of associate degrees, technical diplomas, and career and technical certificates in high-demand fields such as healthcare, computer technology, manufacturing, business, and general studies,' a press release stated. 'With flexible scheduling, multiple campus locations, and affordable tuition, BPCC is committed to helping students achieve their academic and career goals, whether they are entering the workforce or transferring to a four-year university.' To learn more about admissions, registration, tuition costs, and deadlines, visit or contact the BPCC Admissions Office at 318-678-6004 or admissions@ For more information about BPCC's academic programs and training opportunities, visit Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
New York Post
25-04-2025
- Business
- New York Post
Still haven't filed your taxes? Don't panic! — Grab H&R Block State & Federal for $49.99
Discover startups, services, products and more from our partner StackCommerce. New York Post edits this content, and may be compensated and/or receive an affiliate commission if you buy through our links. TL;DR: Americans file taxes late every year — H&R Block Deluxe + State 2024 makes it easy to catch up. Roughly one-third of Americans file their taxes late, according to the IRS. Whether you filed for an extension or are just now getting around to your return, the tools you use still matter, and there's a way to do it right — H&R Block Deluxe + State 2024 is just $32.99 (reg. $59.99), but there are only a few of these discounted codes left. What sets this software apart is how it tailors the filing experience to your specific needs. Whether you're a homeowner, investor, or self-employed, it walks you through deductions and income sources that apply to your situation, like importing W-2s and 1099s, reporting stock income, property sales, and retirement distributions, making sure nothing gets overlooked. H&R Block Deluxe allows you to easily import your prior returns from TurboTax, Quicken, or even past H&R Block software. You won't need to start from scratch, drag and drop your files, and the software helps pre-fill information to save time and reduce errors. The platform walks you through your return step by step using a clear Q&A format, with guidance on over 350 deductions and credits. Designed for both Windows and Mac, this downloadable version gives you access to H&R Block's trusted filing tools. You'll get support for one federal return with five free federal e-files, plus one state return included. Additional states and e-filing are available for a fee. You'll also have access to more than 13,000 helpful articles and tips, plus real-time refund tracking to see what you're owed as you go. Use code FILEEASY to get H&R Block Deluxe + State 2024 for $32.99 (reg. $59.99) while these codes last! Just because you're filing late or with an extension doesn't mean you miss out on a refund — if you're entitled to one, it's still yours to claim. The H&R Block Deluxe + State 2024 software is more than just a form filler. It offers guided support through your unique situation, helping ensure everything is accurate. From uncovering deductions to calculating what you owe, it's built to help you get the most out of your return, even if you're filing after the deadline. StackSocial prices subject to change.
Forbes
16-04-2025
- Business
- Forbes
What To Do If You Missed The IRS Tax Filing Deadline 2025
What to do if you missed the tax filing deadline Missing the tax filing deadline is not an uncommon occurrence, and the Internal Revenue Service provides several mechanisms to help you get back on track. This article outlines the essential steps you should take if you failed to file taxes on Tax Day. The IRS imposes a significant penalty for failing to file your tax return on time. This penalty is calculated at 5% of the unpaid taxes for each month or part of a month that the return is overdue, up to a maximum of 25%. If your return is more than 60 days late, the minimum penalty can be either $510 or 100% of the unpaid tax, whichever is less. The best way to reduce or avoid this penalty is to file your return as quickly as possible, even if you cannot afford to pay the full amount you owe. Doing so stops the failure-to-file penalty from accruing further and potentially reduces future enforcement actions, including wage garnishment or levies. Importantly, the act of filing demonstrates a willingness to comply, which may work in your favor when seeking penalty abatement or negotiating a payment plan later. E-filing is the fastest and most secure method of submitting your tax return. You can use the IRS Free File system or a third-party tax preparation software, depending on your income and the complexity of your return. If your return is more than three years overdue, be aware that the IRS may have already filed a substitute return on your behalf using information from your W-2s and 1099s. These substitute returns often result in higher tax liabilities because they do not account for deductions or credits you may be eligible for. The failure-to-pay penalty is a distinct charge from failure-to-file and accrues separately. It is assessed at a rate of 0.5% of the unpaid tax per month up to a maximum of 25% of the total tax owed. This penalty is in addition to the interest that compounds daily on the outstanding balance, calculated at a rate set quarterly by the IRS. Therefore, it is crucial to pay as much as you can, as soon as possible. Even partial payments can reduce the accrual of penalties and interest. If possible, pay your balance due in full using IRS Direct Pay or through your tax preparation software. Direct Pay is a service that allows you to transfer funds directly from a checking or savings account without additional fees. If you are using professional tax software, most platforms also integrate secure electronic payment options, including bank transfers and credit/debit card payments. Note that if you use a credit card, you may incur processing fees and potentially high interest rates from the card issuer. You should also retain records of your payment confirmation, as it may be needed for future correspondence with the IRS or your tax advisor. Even if you cannot pay your entire tax bill, making a substantial partial payment immediately can help limit the financial consequences. Any amount paid reduces the principal balance upon which penalties and interest are calculated. The IRS offers several mechanisms for deferred payment: • Short-Term Payment Plans If you can pay the full amount within 120 days, you may apply for a short-term payment plan. This option does not require a formal agreement and generally avoids setup fees. To qualify, your total balance (including taxes, penalties, and interest) must be less than $100,000. Applications can be submitted online via the IRS website, by phone, or by visiting a local IRS office. Approval is generally quick, especially for online submissions. • Installment Agreements For longer repayment periods, you can apply online or by filing Form 9465, Installment Agreement Request. These plans are generally available if you owe less than $50,000 in combined tax, penalties, and interest and have filed all required tax returns. Monthly payments can be made via direct debit, payroll deduction, check, money order, or credit card. Direct debit is highly recommended because it reduces the risk of missed payments and is a prerequisite for lower setup fees. • Offer In Compromise In cases of significant financial hardship, you may qualify for an OIC, which allows you to settle your tax debt for less than the full amount owed. Eligibility is based on a detailed analysis of your income, assets, expenses, and ability to pay. You may use the pre-qualifier tool on the IRS website to gauge your eligibility. Remember, while an OIC can provide substantial relief, it is not a quick fix. The application process can take months, and many offers are rejected. Therefore, it is essential to consult a tax professional with experience in IRS negotiations before pursuing this option. A qualified advisor can help assess your eligibility, prepare accurate documentation, and maximize the likelihood of acceptance. If this is your first time missing a filing or payment deadline, you may be eligible for the IRS's FTA program. To qualify, you must have no penalties for the three prior tax years, have filed all required returns (or filed a valid extension), and have paid or arranged to pay any tax due. This abatement is available for one tax period only. When requesting FTA, ensure that you meet all the criteria before contacting the IRS. While the process can often be completed over the phone, more complex cases may benefit from a written request that includes an explanation of your prior compliance history. If you are not eligible for FTA, you may still qualify for penalty relief if you can demonstrate reasonable cause. Common grounds include serious illness, death in the family, natural disasters, or an inability to obtain critical records due to circumstances outside your control. The IRS evaluates reasonable cause on a case-by-case basis, considering the facts and circumstances of each situation. To apply, you must submit a detailed written statement explaining what happened, when it happened, and how the event impacted your ability to comply with tax requirements. Documentation such as hospital records, death certificates, insurance reports, or third-party affidavits can be instrumental in establishing credibility. The IRS communicates with taxpayers primarily through written notices, and these letters serve as the official method of alerting you to outstanding balances, missing returns, potential penalties, and impending enforcement actions. Common notices include CP14, which notifies you of a balance due; CP501, a follow-up reminder that your tax debt remains unpaid; and CP504, an urgent notice warning of imminent collection actions such as levies. Each notice contains vital information about your tax account, including the type of issue, the amount owed, the due date for resolution, and instructions for responding. Failing to respond may lead to enforced collection activities, such as wage garnishments, bank levies, or federal tax liens. These consequences not only compound your financial difficulties but may also negatively affect your credit rating and future financial opportunities. Therefore, it is imperative that you read every notice carefully, understand its implications, and act on it promptly. Organize your correspondence in a dedicated folder and take note of deadlines or response instructions included in each notice. If you are unsure about the meaning or accuracy of any portion of a notice, seek clarification as soon as possible. If you are dealing with multiple years of unfiled returns, significant outstanding balances, or IRS enforcement actions, you can benefit substantially from expert guidance. A certified public accountant, enrolled agent, or tax attorney has specialized knowledge of tax law and IRS procedures and can help you navigate complex matters including audits, negotiations, and penalty mitigation strategies. Their assistance ensures accuracy in filing and provides a layer of protection for your legal rights and financial interests. You can use the IRS Directory of Federal Tax Return Preparers for verifying a professional's status and locating advisors in your area. To ensure this doesn't happen again, stay organized and start early to optimize your tax planning. Keep a dedicated folder where you store your tax documents throughout the year, such as W-2s, 1099s, and deductible expense receipts. This helps streamline the process when it's time to file. Start your tax preparation by February or even earlier to give yourself ample time to gather information, fix errors, and consult with a tax professional if needed. Use digital reminders and calendar tools to stay on top of key dates like the April 15 filing deadline and quarterly estimated payment deadlines. If you think you need more time to file, submit Form 4868 for a six-month extension but note that it does not extend the time to pay. Estimate and pay as much of your tax bill as possible by the original deadline to avoid penalties. Missing the tax filing deadline is not the end of the world. The key is to act quickly, stay organized, and take advantage of the resources and programs the IRS provides. In doing so, you can minimize financial damage and set yourself on a path to long-term compliance. If you're uncertain where to begin, speak with a qualified tax professional to evaluate your unique situation and guide you through the next steps.
CBS News
14-04-2025
- Business
- CBS News
What to know about the IRS substitute for return
If you've ever missed the deadline to file your taxes — or skipped a year entirely — you might assume it just slips under the radar. But that's not how the Internal Revenue Service (IRS) operates. Eventually, the agency catches up to the issue, and when they do, they might file something called a substitute for return , or SFR, on your behalf. Sounds helpful at first glance, right? After all, maybe the IRS is just trying to help you out and save you the trouble? Well, not quite. The IRS substitute for return is basically a ghost tax return. They file it for you when you have unfiled tax returns . But unlike a return you'd submit, which could include deductions, credits and adjustments that lower your tax bill , a substitute for return is very bare-bones. It's not built to work in your favor; it's built to get you into the system and kick off the collections process if you owe money for your taxes . If you've received a notice that the IRS has filed a substitute for return for you — or you think you might be at risk — it's important to understand what that means and how it can affect your financial situation. Below, we'll break it down in simple terms. Get help with your unfiled tax returns today . The substitute for return is the IRS's way of saying, "We waited for your tax return, you didn't send it, so we made one for you." It's used when the IRS has information that shows you had income during a particular year but didn't file your taxes . To create the substitute for return, the IRS uses third-party information like the W-2s, 1099s and other documents that are reported to them. However, they only use the income information. They don't account for any deductions you may qualify for , like mortgage interest, business expenses or even dependents unless they're clearly documented. This usually results in a higher tax liability than if you'd filed yourself. Once the IRS prepares the substitute for return, they send you a Notice of Deficiency , usually by certified mail. This lets you know what they think you owe and gives you a chance to respond or file your actual return. If you don't reply within 90 days, they'll finalize the substitute for return and begin collection efforts based on that return. Chat with a tax relief expert about your options now . First and foremost, a substitute for return typically leads to a bigger tax bill. Since the IRS doesn't include deductions or credits in your favor, the amount you owe will often be inflated compared to what it likely would've been if you'd filed yourself. That means you could end up owing thousands more than necessary for your taxes. The IRS can also start applying penalties and interest based on the amount from the substitute for return. These add up quickly — sometimes faster than you might think. And even if you eventually get around to filing the correct return, you might still owe interest and penalties from the original due date. Another issue is that once the IRS finalizes a substitute for return and you haven't responded, they can begin enforced collection actions . That includes wage garnishments, bank levies and tax liens. This process can be incredibly stressful and damaging to your financial stability. And while you can still file your original tax return after the substitute for return is done, fixing the problem isn't instant. It takes time to process, and in the meantime, the collection efforts might keep going. If you're self-employed, things get even trickier. The IRS usually classifies all income as subject to self-employment tax without subtracting any business expenses. So if you had $60,000 in gross revenue but $30,000 in expenses, the SFR will treat it like you earned a full $60,000 in net income, which massively inflates both your income and self-employment taxes. The IRS substitute for return might sound like a helpful safety net, but in reality, it's more like a red flag — and a warning. It's the IRS's way of getting your unpaid taxes into the system and starting collection actions if necessary, so it's not something to ignore. If you've received a notice about a substitute for return or suspect one might be coming, the best thing you can do is take action quickly. File your original return, ideally with help from a tax professional, and make sure all your deductions and credits are properly included. Even if you can't pay the full amount right away, filing can stop the clock on some penalties and prevent things from getting worse. And if you're feeling overwhelmed, don't go at it alone. There are tax professionals, tax relief companies and even programs through the IRS that can help you sort things out, but the key is to face it head-on. Because when it comes to taxes, doing nothing is usually the most expensive option.
