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FAQs

What tax preparation documents do I need to provide to InstaTax Live?

Click here to see InstaTax Live’s tax preparation document checklist! Also, please provide any recent tax notices received and/or questions you have.

When is my tax return due?

The deadline for filing individual and corporate tax returns is April 15th. Partnerships and S Corp tax returns are due on March 15th.

Filing extensions are due on October 15th; however, if you owe any taxes, you must pay by the above due dates to avoid late penalties.

If I am owed a refund, when will I receive it?

Federal tax refunds are generally deposited within 21 days after submission; however, it could be as soon as 7-10 days after filing.

State tax refunds generally take a little longer and laws vary per state.

Recent Tax Updates:

• Electric Vehicle (EV) Credit Update: As of 2023, you can claim a credit of up to $4,000 for used electric vehicles and up to $7,500 for new EVs.

• Crypto Tax Reporting: If you have sold, exchanged, or earned cryptocurrency, you must report these transactions accurately. Make sure to keep track of any 1099-B forms you receive from exchanges to stay compliant with these new rules.