Accepting All Tax Returns
1 minute read
Today is the day that the Internal Revenue Service will begin accepting all tax returns that have been delayed filing this year.
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Tax Tips & News
Are you Eligible for the Earned Income Tax Credit?
2 minutes read
With the unemployment rate soaring, more taxpayers than ever will qualify for the Earned Income Tax Credit. The Earned Income Tax Credit also known as EITC, is a refundable tax credit that was created to assist low to moderate income individuals and families. This year the EITC can mean up to $5,666 for some families, and that is only the federal credit. For those who live in New York there is an additional credit on the NYS income tax return as well. Take a look at the Federal income...
IRS is Putting Tax Refunds on Debit Cards
1 minute read
The IRS is sending out letters to hundreds of thousands of taxpayers about their new Debit Card program. The program is for low income taxpayers who do not have bank accounts.
New 1099 Reporting Requirement May Be Repealed
1 minute read
Due to newly enacted legislation companies that pay any individual or corporation for goods or services more than $600 will be required to issue a 1099 to report the transaction to the Internal Revenue Service beginning in 2012. This creates a financial burden on small businesses that may not have the means to track and report every transaction for the year.
IRS App Now Available for I-Phone & Android
1 minute read
The IRS has gone mobile… You can now download an application to find out your tax return or refund status, get tax tips via email directly on your phone, and follow the IRS on twitter.
First-Time Homebuyers Credit and how it may affect your current tax return.
4 minutes read
The First-Time Homebuyers Credit was a government initiative meant to increase the sale of homes in the United States. The credit has been offered for tax years 2008, 2009, and 2010. However there are some fundamental differences from year to year which may affect your current tax filing.
Delayed Returns to be Accepted by IRS February 14th
1 minute read
Due to late changes in the law the IRS has delayed the processing of certain returns. Though the return cannot be processed until the newly announced date of Monday February 14th, there is no reason to delay the preparation of your returns.
FREE TAX RETURN
3 minutes read
So what exactly is this Free Tax Return promotion all about? Well, that depends on which one you’re referring to…
Tax Filing Deadline Extended to April 18th
1 minute read
Due to District of Columbia holidays which are considered Federal holidays the filing deadline has been extended to Monday, April 18th 2011 and extensions will also be extended to Monday, October 17th 2011.