By Admin on July 9, 2010
The Internal Revenue Service today announced the opening of a special telephone line for taxpayers affected by the Gulf oil spill.
Individuals who have questions about the BP payments or who are experiencing filing or payment hardships because of the oil spill should contact the IRS
Posted in Tax News | Tagged BP compensation payments, Dedicated, Gulf, IRS, Oil Spill, Phone Line, Victims
By Admin on July 9, 2010
School’s out and many students now have a summer job. Some students may not realize they have to pay taxes on their summer income. Here are the six things the IRS wants everyone to know about income earned while working a summer job.
Posted in Student Tax Tips | Tagged Student Tax Tips, summer job
By Admin on July 7, 2010
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 may help you get a credit on next year’s tax return.
Posted in Tax Credits | Tagged Child Care, Expenses, tax credit
By Admin on July 2, 2010
The deadline for the completion of qualifying First-Time Homebuyer Credit purchases has been extended. Taxpayers who entered into a binding contract before the end of April now have until September 30, 2010 to close on the home.
The Homebuyer Assistance and Improvement Act of 2010, enacted on July 2, 2010, extended the closing [...]
Posted in Tax News | Tagged First-Time Homebuyer Credit
By Admin on June 18, 2010
The Internal Revenue Service today announced that small firms may now begin applying for certification for tax credits or grants available under the Qualifying Therapeutic Discovery Project Program, created by the Affordable Care Act.
Posted in Tax News
By Admin on May 7, 2010
Most taxpayers have already filed their federal tax returns, but many may still have questions. Here’s what the IRS wants you to know about refund status, recordkeeping, mistakes and what to do if you move.
Posted in Tax News | Tagged 552, 8822, mistakes, recordkeeping, refund status
By Admin on May 7, 2010
The Internal Revenue Service sends millions of letters and notices to taxpayers every year. Here are eight things taxpayers should know about IRS notices – just in case one shows up in your mailbox. Don’t panic. Many of these letters can be dealt with simply and painlessly.
Posted in Tax News | Tagged 594, IRS Collection Process, IRS Notice
By Admin on April 14, 2010
If you are a small business owner, whether you hire people as independent contractors or as employees will impact how much taxes you pay and the amount of taxes you withhold from their paychecks. Additionally, it will affect how much additional cost your business must…
Posted in Tax News | Tagged business, Contractor vs. Employee, owner, Publication 15-A, Publication 1779, Publication 1976, small, SS-8