The Skinny on Charitable Contributions
Did you make a cash contribution to your favorite charity? Have you recently spent a weekend cleaning stuff out of your garage or basement that you then donated to a local charity? Charitable...
View ArticleTop Ten Tax Time Tips
1. Gather your records…now! It’s never too early to start getting together any documents or forms you’ll need when filing your taxes: receipts, canceled checks, and other documents that support an...
View ArticleFirst-Time Homebuyer credit
First-time homebuyers should begin planning now to take advantage of a new tax credit. Available for a limited time, the credit: •Applies to home purchases after April 8, 2008, and before December 1,...
View ArticleThe Five Filing Status Possibilities
Everyone who files a federal tax return must determine which filing status applies to them. It’s important you choose your correct filing status as it determines your standard deduction, the amount of...
View ArticleTop Five Facts about Dependents and Exemptions
1. Dependents may be required to file their own tax return. Even though you are a dependent on someone else’s tax return, you may still have to file your own tax return. Whether or not you must file a...
View ArticleWhat Tax Records to Keep
You probably already keep records in your daily routine. This includes keeping receipts for purchases and recording information in your checkbook. Keeping these and other records will help you avoid...
View ArticleTen Things the IRS Wants You to Know About Identity Theft
1. If you receive a letter or notice from the IRS which leads you to believe someone may have fraudulently used your Social Security Number, respond immediately to the name and address or phone number...
View ArticleSé Habla Español? – Tax Information Available in Spanish
If you need federal tax information, the IRS provides free Spanish language products and services. Pages on the Internal Revenue Service’s Web site, pre-recorded tax topics, refund information, tax...
View ArticleTips for Taxpayers Making a Move
If you changed your home or business address, you’ll want to remember these six tips to ensure you receive any refunds or correspondence from the IRS. 1. You can change your address on file with the...
View ArticleFour Tips to Help Taxpayers Avoid Errors On the Recovery Rebate Credit
Most taxpayers who received the economic stimulus payment last year will not be able to claim the Recovery Rebate Credit on their 2008 federal income tax returns. A small number of taxpayers who did...
View ArticleTips for Recently Married or Divorced Taxpayers
If you were married or divorced recently, there are a couple of things you’ll want to do to ensure the name on your tax return matches the name registered with the Social Security Administration. If a...
View ArticleTen Things You May Not Know About the Earned Income Tax Credit
Ten Things You May Not Know About the Earned Income Tax Credit The Earned Income Tax Credit is for people who work, but have lower incomes. Here are some things you may not know about the EITC. 1. A...
View ArticleEight Reasons to Try e-file
If you’ve never filed your tax return electronically, you should definitely consider trying it in 2009. Join the millions of taxpayers who are saving time and money to file their tax returns without...
View ArticleIRS Answers the "What If" Tax Questions of an Economic Downturn
What if I lose my job? Is my unemployment check taxable? Can I afford to take money out of my retirement account? These are just a few of the "What If" questions people are dealing with these days....
View ArticleSpecial Charitable Contributions for Certain IRA Owners
As an alternative method for donating to a charity, certain taxpayers may transfer funds from their IRA to an eligible charitable organization. Here are ten things taxpayers who are thinking about...
View ArticleFive Important Changes for Taxpayers
Here are a few tax law changes you may want to note before filing your 2008 federal tax return: 1. Expiring Tax Breaks Renewed The following popular tax breaks were renewed for tax-years 2008 and...
View ArticleWhat Income is Taxable?
While most income you receive is generally considered taxable, there are some situations when certain types of income are partially taxed or not taxed at all. Some common examples of items that are...
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