Tax Solutions of Tyler llc

A quick overview of the Trump account and how it may benefit you. Want to know if you qualify for the trump account give me a call @ (903)262-8593.

Trump Accounts | Internal Revenue Service Trump Accounts are a historic new savings tool created under the One Big Beautiful Bill to give children in America a real financial head start.

If you claimed the Earned Income Tax Credit or the Additional Child Tax Credit and are wondering where your refund is, don’t panic. You can expect to get your refund by March 3 if:

• You filed your return online
• You chose to get your refund by direct deposit
• We found no issues with your return

However, some taxpayers may see their refunds a few days earlier. Check Where’s My Refund for your personalized refund date. Visit here for more info:

When to expect your refund if you claimed the Earned Income Tax Credit or Additional Child Tax Credit | Internal Revenue Service Find out when to expect your refund if you claim the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC).

As mandated by the Protecting Americans from Tax Hikes (PATH) Act of 2026, the Internal Revenue Service (IRS) is required to withhold tax refunds for taxpayers who claim the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) until at least February 15, and will be unable to issue these refunds prior to this date, even for early-filed returns.

For fastest results follow these simple rules when coming to get your taxes prepared

The provides updated inflation adjustments, including standard deduction increases for tax year 2025, reflecting changes from the One, Big, Beautiful Bill. These updated amounts may affect how much income is subject to tax when you file this year. Learn more: https://ow.ly/WL9250XWo6J

Download the app,answer a few simple questions, upload documents through our secure app and we will do the rest…..

TaxesToGo

How the IRS calculates you’re federal refund :
Think of a tax refund like this: it’s the IRS giving you back money you overpaid during the year. Here’s how they figure it out, step by step 👇

1️⃣ Total income

They start with all your taxable income, such as:
• W-2 wages
• Self-employment income
• Interest, side gigs, etc.

This gives your gross income.

2️⃣ Adjustments & deductions

Next, they reduce that income with:
• Adjustments (student loan interest, HSA, retirement contributions, etc.)
• Deductions
• Standard deduction (most people use this)
• Or itemized deductions (mortgage interest, charitable gifts, etc.)

👉 What’s left is your taxable income.

3️⃣ Tax calculated

The IRS applies the tax brackets to your taxable income to calculate your total tax liability (what you actually owe for the year).

4️⃣ Credits applied (VERY important)

Now they subtract tax credits, which directly reduce tax dollar-for-dollar:
• Child Tax Credit
• Earned Income Credit (EITC)
• Education credits
• Premium Tax Credit, etc.

Some credits are refundable, meaning they can create or increase a refund even if your tax goes to $0.

5️⃣ Payments & withholdings

Then they add up:
• Federal taxes withheld from paychecks
• Estimated tax payments
• Any refundable credits

6️⃣ Refund or balance due

Finally:

Refund = Payments & credits − Total tax owed
• If the number is positive → refund
• If it’s negative → you owe

Simple example
• Taxes owed for the year: $7,000
• Federal taxes withheld: $8,500

Refund = $1,500

Key thing to remember

A bigger refund doesn’t mean you paid less tax — it usually means you overpaid during the year.

Need to verify the status of your refund? Click on the link.

Where's My Refund? | Internal Revenue Service See your personalized refund date as soon as the IRS processes your tax return and approves your refund. See your status starting around 24 hours after you e-file or 4 weeks after you mail a paper return.