Sunday, March 17, 2013
Is there money out there for you?
Refunds totaling just over $917 million may be waiting for an estimated 984,400 taxpayers who did not file a federal income tax return for 2009, according to the Internal Revenue Service. However, to collect the money, a return for 2009 must be filed with the IRS no later than Monday, April 15, 2013. The IRS estimates that half the potential refunds for 2009 are more than $500. Some people may not have filed because they had too little income to require filing a tax return even though they had taxes withheld from their wages or made quarterly estimated payments. In cases where a return was not filed, the law provides most taxpayers with a three-year window of opportunity for claiming a refund. If no return is filed to claim a refund within…
Tuesday, February 5, 2013
Standard deductions go up, but the ceiling for itemized deductions go down in 2013, plus other changes that will affect your taxes this year.
The Internal Revenue Service announced annual inflation adjustments for tax year 2013, including the tax rate schedules, and other tax changes from the recently passed American Taxpayer Relief Act of 2012. The tax items for 2013 of greatest interest to most taxpayers include the following changes. Details on these inflation adjustments and others are contained in Revenue Procedure 2013-15, which will be published in Internal Revenue Bulletin 2013-5 on Jan.28, 2013. Other inflation adjusted items were published in October 2012 in Revenue Procedure 2012-41. -News release from the Internal Revenue Service
Monday, January 28, 2013
See how these changes will impact when you file taxes this year in the wake of law changes by Congress.
Following the January tax law changes made by Congress under the American Taxpayer Relief Act, the Internal Revenue Service announced it plans to open the 2013 filing season and begin processing individual income tax returns on Jan. 30. The IRS will begin accepting tax returns on that date after updating forms and completing programming and testing of its processing systems. This will reflect the bulk of the late tax law changes enacted Jan. 2. The announcement means that the vast majority of tax filers (more than 120 million households) should be able to start filing tax returns starting Jan 30. The IRS estimates that remaining households will be able to start filing in late February or into March because of the need for more extensive …
Monday, January 21, 2013
Standard deductions go up, but the ceiling for itemized deductions go down in 2013, plus other changes that will affect your taxes this year.
The Internal Revenue Service announced annual inflation adjustments for tax year 2013, including the tax rate schedules, and other tax changes from the recently passed American Taxpayer Relief Act of 2012. The tax items for 2013 of greatest interest to most taxpayers include the following changes. Details on these inflation adjustments and others are contained in Revenue Procedure 2013-15, which will be published in Internal Revenue Bulletin 2013-5 on Jan. 28, 2013. Other inflation adjusted items were published in October 2012 in Revenue Procedure 2012-41. -News release from the Internal Revenue Service
Wednesday, January 2, 2013
The tax credit helps low- and moderate-income workers save for retirement, the IRS indicates.
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 to 401(k) plans and similar workplace retirement programs. Also known as the retirement savings contributions credit, the saver’s credit is available in addition to any other tax savings that apply. Eligible workers still have time to make qualifying retirement contributions and get the saver’s credit on their 2012 tax return. People have until April 15, 2013, to set up a new individual retirement arrangement or add money to an existing IRA and still get credit for …
Saturday, November 3, 2012
Read on to find out more.
Hey taxpayers in Peters Township, the Internal Revenue Service has some news for you. For tax year 2013, the Internal Revenue Service announced today annual inflation adjustments for more than two dozen tax provisions.
Monday, April 16, 2012
File your 2011 federal income tax return by Tuesday, April 17, to avoid late penalties and interest.
- GOVERNMENT
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Monday, April 16, 2012
You still have today and tomorrow left to meet the filing deadline for your 2011 federal income tax returns. The tax deadline is traditionally April 15, but has been pushed back to April 17 this year since April 15 was a Sunday and today, April 16, is Emancipation Day in the District of Columbia. April 17 is also the final date to apply for 2011 tax extensions. The Internal Revenue Service encourages taxpayers to file returns electronically. According to a statement posted on the IRS website, e-file is "the best way to ensure accurate tax returns and get faster refunds." There are also several ways to file your taxes easily online. Some include: For tax law questions or account inquiries, taxpayers can call the IRS toll free at the numbers…
Saturday, February 25, 2012
Before you prepare your taxes, you need to read this.
- NEWS
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Saturday, February 25, 2012
The Internal Revenue Service has issued its annual Dirty Dozen ranking of tax scams, reminding taxpayers in Peters Township and beyond to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud. The Dirty Dozen listing, compiled by the IRS each year, lists a variety of common scams taxpayers can encounter at any point during the year. But many of these schemes peak during filing season as people prepare their tax returns. “Taxpayers should be careful and avoid falling into a trap with the Dirty Dozen,” said IRS Commissioner Doug Shulman. “Scam artists will tempt people in-person, on-line and by e-mail with misleading promises about lost refunds and free money…
Thursday, February 16, 2012
The company is keeping clients up-to-date via emails and text messages, according to franchisee Margaret (Peg) B. Rowe.
The expected tax refund date has been altered for many taxpayers—the IRS is taking longer to process returns. McMurray H&R Block Franchisee Margaret (Peg) B. Rowe said the IRS has experienced issues with their technology and processing of tax returns—regardless of how they were filed or who prepared them. She said H&R Block, along with many other offices that have e-filed tax returns, is keeping its clients up-to-date with anticipated refunds via email and text messages. "H&R Block has sent a total of 700,000 emails and 60,000 text messages," Rowe said. The tax preparation service has also urged clients to visit www.irs.gov and click Where's My Refund (or call 1-800-829-1954) to find out when to expect their refund. However, this is …
Wednesday, January 4, 2012
The IRS also announced a number of improvements to help make this tax season easy.
- NEWS
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Wednesday, January 4, 2012
The Internal Revenue Service Wednesday opened the 2012 tax filing season by announcing that taxpayers have until April 17 to file their tax returns. The IRS encourages taxpayers to e-file as it is the best way to ensure accurate tax returns and get faster refunds. The IRS also announced a number of improvements to help make this tax season easy for taxpayers. This includes new navigation features and helpful information on IRS.gov and a new pilot to allow taxpayers to use interactive video to get help with tax issues. “At the IRS, we’re working hard to make the process of filing your taxes as quick and easy as possible,” said IRS Commissioner Doug Shulman in a release. “Providing quality service is one of our top priorities. It not only …
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