Better to Give than Receive at Tax Time
While getting back a tax refund can be exciting, it’s not always bad to owe a little money when you file your taxes. If you are due a big refund, that means that you’ve let…
Taxes
Maximize deductions, stay tax compliant, and file with confidence. This section covers personal and business tax tips, IRS changes, and strategies to lower your taxable income and keep more of what you earn.
Taxpayers Affected by Tax Law Can File Returns Now
In late December, the IRS had informed taxpayers who were affected by recent tax law changes to wait to file their returns until notified that the IRS was ready for them, which was estimated to…
Last Chance Amnesty for Tax Evaders with Offshore Accounts
Taxpayers using offshore accounts to hide money from Uncle Sam have been given a second chance to come clean and avoid criminal prosecution. The Internal Revenue Service’s 2011 Offshore Voluntary Disclosure Initiative (OVDI), which began…
IRS Releases Smartphone App
Want an easy way to check on the status of your refund this tax season? There’s an app for that. The Internal Revenue Service today announced the release of IRS2Go, the first smartphone application that…
Requested a Federal Tax Extension? October 15th is Just Around the Corner
Just a reminder to taxpayers who requested an extension for the 2009 tax year – the October 15th due date is just around the corner. It’s also a crucial due date for thousands of small…
IRS Announces the End of Debt Indicator for RALs
Refund anticipation loans (RALs) have always been a bad idea for taxpayers due to the high cost of getting a tax refund only a few days sooner than if the taxpayer had efiled and opted…
Filing for a Federal Tax Extension
The deadline to file your income tax return is just around the corner – it really comes up fast for those who aren’t ready. But don’t panic. If you don’t see being able to complete…
The Earned Income Tax Credit (EITC)
The Internal Revenue Service (IRS) announced on Friday the expanded Earned Income Tax Credit (EITC), a larger credit for larger families that offers greater relief for people who struggled through difficult financial times last year.…
2009 E-file Open for Business January 15
The IRS announced today that e-file, the electronic tax return delivery service, is open for business January 15. The most popular method of filing taxes, e-file debuted 20 years ago, delivering 4.2 million tax returns.…
IRS Has $123.5 Million in Undeliverable Tax Refunds
Our friendly Internal Revenue Service (IRS) issued a notice last week stating that over a hundred thousand taxpayers have yet to receive the tax refund they are due because the IRS doesn’t have an accurate,…