Tax questions answered in plain English
Short, friendly answers to the questions people type into a search box. Each one gives the direct answer first, names its official sources and shows the date it was checked. New answers are added regularly.
Prepared by Prem Tax and Accounting Corp. Last checked against official sources on October 24, 2026.
Each answer opens with the direct answer, then the key points, a short checklist or table, and what to bring or do next. Every page lists the official pages behind it, so you can check the rule yourself. Pick a topic or read the newest first.
Where is my refund?
Check a federal refund with the IRS tool and an Illinois refund with the state tool. What you need, what the three stages mean, and when it is time to call.
Read the answer →Why is my refund different this year?
A refund can change for ordinary reasons: an IRS correction, an offset for a debt, a credit review, new withholding or 2025 law changes. How to tell which.
Read the answer →How long does a tax refund take?
The IRS says most e-filed returns with direct deposit are refunded in under 21 days. Paper, amended and reviewed returns take longer. Timing by return type.
Read the answer →When are taxes due?
Federal and Illinois due dates for 2025 and 2026 returns, estimated tax and common forms. The 2027 dates are our own math until IRS publishes its calendar.
Read the answer →How do I file a tax extension?
Pay online and mark it as an extension, e-file Form 4868, or mail it by the due date. You get six more months to file, not to pay. Steps, penalties, Illinois.
Read the answer →When does tax season start?
The 2026 filing season opened January 26, 2026. The 2027 date is not announced as of October 2026. Recent opening dates, free filing options, how to prepare.
Read the answer →How much do you have to make to file taxes?
Filing thresholds for tax year 2025 by filing status and age, when you must file at any income, and why filing can pay off. Includes dependents and Illinois.
Read the answer →How do I calculate adjusted gross income (AGI)?
AGI is total income minus adjustments like student loan interest, HSA and half of self-employment tax. Steps for 2025, an invented example, last year's AGI.
Read the answer →Should I itemize or take the standard deduction?
Take the larger of the two. Standard deduction amounts for 2025 and 2026, what goes on Schedule A, the SALT cap, an invented example, a new 2026 charity rule.
Read the answer →Who gets the new $6,000 senior tax break?
A deduction of up to $6,000 per person aged 65 or older, for 2025 to 2028, phased out at higher incomes. Who qualifies, how it works, and common mix-ups.
Read the answer →What is the 1099-K threshold?
Payment apps and marketplaces file Form 1099-K only above $20,000 and 200 transactions. The 2025 law reversed the $600 rule. How to report income either way.
Read the answer →How are crypto and digital assets taxed (Form 1099-DA)?
Digital assets are property: sales and swaps create gains or losses, while staking and pay are income. What Form 1099-DA reports and what to keep for taxes.
Read the answer →How these answers are written
- Facts come from official sources: the IRS, the Social Security Administration, Treasury and the Illinois Department of Revenue.
- Every number names its tax year, and figures that change say "as of" a date.
- When something is unsettled or not yet announced, the page says so instead of guessing.
- We do not promise refund dates or results. Your own facts decide what applies to you.
Have a question that is not here?
Send it through the contact page. Common questions may become a page in this section.
Common questions
Who writes these answers?
Prem Tax and Accounting Corp, a CPA firm in Aurora, Illinois. Keshav Agrawal is a U.S. CPA and a Chartered Accountant (CA) from India. The answers are general information, not advice for your situation.
How current are the answers?
Each page shows the date it was last checked against official sources, and time-sensitive items say "as of" a month and year. Tax rules change, so check the linked official page before you act.
Can I follow new answers in a feed reader?
Yes. Add smalltax.com/tax-questions/feed.xml to any feed reader to see each new answer as it is published.
Why do some answers say something is not known yet?
Because the IRS or the state has not published it. We would rather say "not announced as of October 2026" than guess, and we update the page when the official word arrives.
Official sources
- IRS: Refunds
- IRS: Get an extension to file your tax return
- IRS: One Big Beautiful Bill provisions (Working Families Tax Cuts)
- Illinois Department of Revenue: Who must file
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