Source: IRS.gov Even though each individual tax return is different, some tax rules affect every person who may have to file a federal income tax return. These rules include dependents and exemptions. The IRS has six important facts about dependents and exemptions that will help you file your 2011 tax [...]
Source: http://www.irs.gov/newsroom/article/0,,id=251837,00.html FS-2012-01, January 2012 Two Extra Days to File and Pay Taxpayers across the nation will have until Tuesday, April 17, 2012, to file their 2011 income tax returns and pay any taxes due. Taxpayers have extra time because April 15 falls on Sunday, and Emancipation Day, a holiday [...]
Source: IRS.gov When it comes to filing a tax return – or not filing one - the IRS can assess a penalty if you fail to file, fail to pay or both. Here are eight important points the IRS wants you to know about the two different penalties you may [...]
Source: Journal of Accountancy, AICPA August 21, 2010 The IRS has issued proposed regulations that would eliminate paper coupons for deposits of employment taxes, corporate income and estimated taxes, and many other taxes (REG-153340-09). The paper coupon payment system will be shut down at the end of this year. With [...]
Source: IRS.gov Issue Number: IRS Summertime Tax Tip 2010-21 Ten Tips for Taxpayers Making Charitable Donations Did you make a donation to a charity this year? If so, you may be able to take a deduction for it on your 2010 tax return. Here are the top 10 things the IRS [...]
Source: IRS.gov Issue Number: IRS Summertime Tax Tip 2010-17 Inside This Issue Five Tax Tips for Recently Married Taxpayers Are you getting married this summer? If you recently got married or are planning a wedding, the last thing on your mind is taxes. However, there are some important steps you need [...]
Source: IRS Issue Number: IRS Summertime Tax Tip 2010-15 Inside This Issue Nine Tips for Taxpayers Who Owe Money to the IRS Did you end up owing taxes this year? The vast majority of Americans get a tax refund from the IRS each spring, but those who receive a bill may [...]
IRS Issue Number: IR-2010-089 Inside This Issue WASHINGTON — The Internal Revenue Service today announced that starting with next year’s tax filing season it will no longer provide tax preparers and associated financial institutions with the “debt indicator,” which is used to facilitate refund anticipation loans (RALs). “As we prepare for [...]
ONLINE PAYMENT AGREEMENT APPLICATION Source: IRS.gov Paying your taxes in full and on time avoids unnecessary penalties and interest. However, if you cannot pay your taxes in full, you may request a payment agreement. Individuals who owe $25,000 or less in combined tax, penalties, and interest can use the OPA [...]
Source: Issue Number: IRS Summertime Tax Tip 2010-01 Did you know that your summer day care expenses may qualify for an income tax credit? Many parents who work or are looking for work must arrange for care of their children under 13 years of age during the school vacation. Those expenses [...]