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Do You Make These Year-End Contribution Mistakes?
Individuals and businesses making contributions to charity should keep in mind several important tax law provisions that have taken effect in recent years. Some of these changes include the following:
IRS Holding $153 Million in Undelivered Tax Return Checks
The Internal Revenue Service announced today that it is looking to return $153.3 million in undelivered tax refund checks. In all, 99,123 taxpayers are due refund checks this year that could not be delivered because of mailing address errors.
IRS Proposed Regulations to File Due Diligence Checklist with All EITC Claims in 2012
The due diligence requirement, enacted by Congress over a decade ago, was designed to reduce errors on returns claiming the EITC, most of which are prepared by tax professionals.
Back-to-School Tips for Students and Parents Paying College Expenses
For each student, you can choose to claim only one of the credits in a single tax year. However, if you pay college expenses for two or more students in the same year, you can choose to take credits on a per-student, per-year basis. You can…
Ten Tax Tips for Individuals Who Are Moving This Summer
Summertime is a popular time for people with children to move since school is out. Moving can be expensive, but the IRS offers 10 tax tips on deducting some of those expenses if…
Government Shutdown Could Delay Tax Refunds
If Congress can not come to an agreement by midnight Friday the Government will shut down temporarily. Keep in mind the shutdown, if it happens, will NOT DELAY the due date for taxes of April 18th, 2011!
6 Tips For Filing A Tax Extension
Can’t make the April 18 tax filing deadline and need more time to file your tax return? You can get an automatic six month extension of time to file from the IRS.
Qualified Disaster Treatment for Japan
The guidance allows recipients of qualified disaster relief payments to exclude those payments from income on their tax returns. Also, the guidance allows employer-sponsored private foundations to assist employee victims in areas affected.
