Feb
21
What: Free income tax preparation for seniors 60 or older (any income level) or people with an income of $50,000 or less, regardless of age. Appointments taken on a first-come, first-served basis. When: Through April 13. Wednesdays from 9 a.m. to 3 p.m. at Newbury Park Library, 2331 Borchard Road; Thursdays from 9 a.m. to …
Feb
21
PROVIDENCE, RI (WPRI) – A former local lawmaker is in the middle of a dispute over a tax return of more than $8000 that his client claims was misfiled with the Internal Revenue Service. Former State Representative and Providence City Councilman Leon Tejada, who is a south Providence tax-preparer, filed the return last year for …
Feb
19
NEW YORK — It’s never been easier to prepare your own tax return. The software available for the 2012 tax season has been both expanded and made easier to use. This will make the annual chore quicker and reduce the chance of missing big deductions and important tax credits. Nearly 40 million taxpayers prepared their …
Feb
18
A tax tip from IRS.gov You are required to file a federal income tax return if your income is above a certain level, which varies depending on your filing status, age and the type of income you receive. However, the Internal Revenue Service reminds taxpayers that some people should file even if they aren't required …
Feb
18
You might have heard that the federal tax code allows for a mileage deduction when an automobile is used for business purposes. But did you know that there are also mileage deductions for moving, medical and charitable driving? Several websites spotlight the requirements and amount a taxpayer can claim on the car mileage deductions: – …
Feb
17
Recommendation: The Commissioner of Internal Revenue should develop a new refund timeliness measure and goal to more appropriately reflect current capabilities. Agency Affected: Department of the Treasury: Internal Revenue Service Status: Open Comments: When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information. Recommendation: The Commissioner …
Feb
17
Free income tax help and electronic tax filing is available totaxpayers of all ages. Volunteers have been trained and certified by the Internal RevenueService and state of Minnesota to assist in preparing federal andstate income tax returns. Help is also available in preparingMinnesota property tax or renters’ refund forms. This program is co-sponsored by the …
Feb
16
(Reuters) – Inherited retirement accounts are truly one of those gifts that keep on giving because heirs can benefit for many years without much tax burden, but Congress is starting to talk about curtailing breaks on the accounts. A revenue-raising proposal floated in the Senate Finance Committee last week would sharply limit the time allowed …
Feb
16
President Obama’s fiscal 2013 request for the Internal Revenue Service is aimed at restoring funding that Republicans trimmed in 2011 as part of an ongoing political battle over the tax-collecting agency. The administration as part of the Treasury Department budget asked for $12.8 billion, which would be an increase of $944.5 million (8 percent) over …
Feb
15
Tax laws are so complex many taxpayers don’t feel comfortable filing out their own returns, but getting professional help can be expensive. Believe it or not, the IRS wants to help. In addition to its online Free File service, which offers name-brand software at no cost for taxpayers with adjusted gross income of $57,000 or …