By Admin on April 14, 2010
Working taxpayers may be eligible for the Making Work Pay tax credit, a significant tax provision of the American Recovery and Reinvestment Act of 2009. This tax credit means more take-home pay for millions of American workers.
Posted in Tax Credits | Tagged IRS Withholding Calculator, Making Work Pay, Publication 919
By Admin on April 13, 2010
Taxpayers who purchase computer technology for higher education purposes may be eligible for a special tax break. The American Recovery and Reinvestment Act of 2009 added computer equipment and technology to the list of college expenses that can be paid for by a qualified tuition program, commonly referred to as a 529 plan.
Posted in Student Tax Tips | Tagged 529 Plans, 970, Back-to-School Tax Breaks, Tax Benefits for Education
By Admin on April 13, 2010
Members of the military and certain civilians providing earthquake relief in Haiti have additional time to file their 2009 returns and pay any taxes due, the Internal Revenue Service announced today.
Posted in Tax News | Tagged Combat Zone, extension, Haiti, Relief Workers
By Admin on April 13, 2010
You can make a change or an adjustment to a tax return you’ve already filed by filing an amended return. Here are the top 10 things you need to know about amending your federal tax return.
Posted in Tax News | Tagged 1040x, adjustment, amended, amending, change, Return
By Admin on April 12, 2010
If you purchased or entered into a binding contract to purchase a home in 2009 or early 2010, you may be eligible to claim the First-Time Homebuyer Credit. Claiming this credit might mean a larger refund.
Posted in Tax Credits, Tax Tips | Tagged 1098, 5405, First-Time, Form, homebuyer credit, HUD-1
By Admin on April 12, 2010
If you make eligible contributions to an employer-sponsored retirement plan or to an individual retirement arrangement, you may be eligible for a tax credit.
Here are six things you need to know about the Retirement Savings Contributions Credit:
1. Income Limits The Savers Credit, formally known as the Retirement Savings Contributions Credit, applies to [...]
Posted in Tax Credits | Tagged 401(k), 590, 610, 8880, Contributions, Form, IRA, Retirement, Savings
By Admin on April 10, 2010
Five Tips for Taxpayers Making a Move
If you’ve changed your home or business address, make sure you update that information with the IRS to ensure you receive any refunds or correspondence from the IRS.
1. How to Change Your Address You can change your address on file with the IRS in several ways:
Correct the address [...]
Posted in Tax Tips | Tagged 8822, address change, Change of Address, Form
By Admin on April 9, 2010
If your mortgage debt is partly or entirely forgiven during tax years 2007 through 2012, you may be able to claim special tax relief and exclude the debt forgiven from your income. Here are 10 facts the IRS wants you to know about Mortgage Debt Forgiveness.
Posted in Tax News | Tagged 1099-C, 982, Form, mortgage debt, mortgage debt forgiveness, Reduction of Tax Attributes Due to Discharge of Indebtedness