Source: IRS.gov While each individual tax return is unique, there are some tax rules that affect every person who files a federal income tax return. These rules involve dependents and exemptions. The IRS has six important facts about dependents and exemptions that will help you file your 2012 tax return. [...]
Source: IRS.gov WASHINGTON - As preparations continue for the Jan. 30 opening of the 2013 filing season for most taxpayers, the Internal Revenue Service announced today that processing of tax returns claiming education credits will begin by the middle of February. Taxpayers using Form 8863, Education Credits, can begin filing [...]
Source: IRS.gov WASHINGTON — Low- and moderate-income workers can take steps now to save for retirement and earn a special tax credit in 2012 and the years ahead, according to the Internal Revenue Service. The saver’s credit helps offset part of the first $2,000 workers voluntarily contribute to IRAs and [...]
Source:http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2012/Tax/A_taxingsituation.jsp AICPA.com A taxing situation: Tax strategy and family business succession planning The time for family business owners to act is now. November 8, 2012 by Jim Fitts and John Weeks Succession planning is one of the most challenging and complicated concerns family business owners face. Succession planning can be difficult [...]
Source: IRS.gov WASHINGTON — The Internal Revenue Service today announced it is granting taxpayers and tax preparers affected by Hurricane Sandy until Nov. 7 to file returns and accompanying payments normally due today. The relief applies to taxpayers and tax preparers in an area affected by Hurricane Sandy or otherwise [...]
source: IRS.gov Podcast Disaster Assistance: English | Spanish WASHINGTON –– The Internal Revenue Service is providing tax relief to individuals and businesses affected by Hurricane Isaac. Following recent disaster declarations for individual assistance issued by the Federal Emergency Management Agency, the IRS announced today that affected taxpayers in Louisiana and [...]
source: IRS.gov Whether you roll the dice, bet on the ponies, play cards or enjoy slot machines, you should know that as a casual gambler, your gambling winnings are fully taxable and must be reported on your income tax return. You can also deduct your gambling losses…but only up to [...]
Source: IRS.gov Contributing money and property are ways that you can support a charitable cause, but in order for your donation to be tax-deductible, certain conditions must be met. Read on for six things the IRS wants taxpayers to know about deductibility of donations. 1. Tax-exempt status. Contributions must be made [...]
source: IRS.gov If you’ve recently updated your status from single to married, you’re not alone – late spring and summertime is a popular period for weddings. Marriage also brings about some changes with your taxes. Here are several tips for newlyweds from the IRS. Notify the Social Security Administration It’s [...]
