File Taxes Online Free
The IRS estimates that 70 percent of all taxpayers (about 98 million taxpayers) will be eligible to file taxes online for free this year!
Only 4.8 million tax returns were filed through Free File last year, an increase of 24 percent over the previous year’s total of nearly 3.9 million returns, but still way below the number of people who are eligible to file taxes online for free!
Top Eight Reasons to Try e-file
If you have never filed your tax return electronically, you should definitely consider trying it in 2010. Join the millions of taxpayers who are saving time and money to file their tax returns without the many headaches often associated with filing a paper return. Here are the top eight reasons that almost 90 million people [...]
EIC Eligibility Checklist
You may claim the EIC if you answer “Yes” to all the following questions.
A Qualifying Child For The EIC Is
A qualifying child for the EIC is a child who is your…
Son, daughter, stepchild, foster child, brother, sister, stepbrother, stepsister, or a descendant of any of them (for example, your grandchild, niece, or nephew)
AND…
2010 Standard Mileage Rates
A taxpayer may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS) or after claiming a Section 179 deduction for that vehicle. In addition, the business standard mileage rate cannot be used for any vehicle used for hire or for more than four vehicles used simultaneously.
New Tax Guide Features Recovery Tax Breaks
Publication 17, Your Federal Income Tax, features details on taking advantage of new tax-saving opportunities, such as the making work pay credit for most workers, American opportunity credit for parents and college students, energy credits for homeowners going green, first-time homebuyer credit, sales or excise tax deduction for new car buyers.
First-Time Homebuyer Credit Extended
First-Time Homebuyer Credit Extended to April 30, 2010 – A new law that went into effect Nov. 6 extends the first-time homebuyer credit five months and expands the eligibility requirements for purchasers.
