And on top of the philanthropic accomplishment youâve done, you still get a bonus reward of having your donations be eligible for tax deductions. Like I have mentioned earlier, donations to public schools are treated the same when you donate to charity or other nonprofit organizations.
The IRS says it expects to issue more than 9 out of 10 refunds within 21 days, but the fastest way to get a refund is to e-file and choose direct deposit. Even if you file the old-fashioned paper way, having your refund deposited directly into a bank account cuts the time you have to wait for your tax cash.
If you qualify for credits or subsidies, you must file a tax return in 2016 to reconcile the advance payments received in 2015. If you received advance payments in 2015 and fail to claim the premium tax credit on a federal tax return, this could bar you from receiving additional advance payments.