Filing Reminder For Nonprofit Organizations.
Nonprofit organizations are required to file annual reports with the IRS. Read more
Archive for year: 2013
Are You Giving the IRS an Interest-Free Loan?
Will you be among the thousands of taxpayers who get a big tax refund this year? While most Americans happily accept their tax refund checks, smart taxpayers understand that refunds actually cost them money. Here’s why: Read more
Seven Important Tax Facts about Medical and Dental Expenses
“WASHINGTON – IRS Tax Tip 2013-25” – If you paid for medical or dental expenses in 2012, you may be able to get a tax deduction for costs not covered by insurance. The IRS wants you to know these seven facts about claiming the medical and dental expense deduction. Read more
From the IRS: Seven Facts to Help you Choose the Right Filing Status.
The filing status you choose when you file your 2012 tax return will affect the tax breaks you’ll qualify for, your standard deduction amount, and ultimately the amount of tax you’ll pay. Are you single, head of household, married filing jointly, or married filing separately? Read more
Five Tips if Your Name Has Changed
“WASHINGTON – IRS Tax Tip 2013-21” – If you were married or divorced and changed your name last year, be sure to notify the Social Security Administration before you file your taxes with the IRS. If the name on your tax return doesn’t match SSA records, the IRS will flag it as an error and that may delay your refund. Read more
Beware of Bogus IRS Emails
“WASHINGTON – IRS TAX TIP 2013-19” – The IRS receives thousands of reports every year from taxpayers who receive emails out-of-the-blue claiming to be from the IRS. Scammers use the IRS name or logo to make the message appear authentic so you will respond to it. In reality, it’s a scam known as “phishing,” attempting to trick you into revealing your personal and financial information. The criminals then use this information to commit identity theft or steal your money. Read more
Eight Tax Benefits for Parents
“WASHINGTON – IRS Tax Tip 2013-11 ” – Your children may help you qualify for valuable tax benefits, such as certain credits and deductions. If you are a parent, here are eight benefits you shouldn’t miss when filing taxes this year. Read more
Dependents: What Are The Tax Rules?
Most taxpayers believe that a “dependent” is a minor child that lives with them. While that is essentially correct, dependents can include parents, other relatives and nonrelatives, and even children who don’t live with you. There is really much more to the dependent deduction than you might at first imagine. Read more
Do You Need a Business Partner?
It is interesting to note how many partnerships were formed over a weekend. You meet someone at a party on Friday and by Monday you are in business together. No courtship, no honeymoon, just off you go into business. Well, let me suggest that such partners secure a good set of boxing gloves, because they are going to need them. Read more
Don’t Miss Out On The “Saver’s Credit”
If you’re not sure what the “saver’s credit” is, you’re not alone. Members of the Senate Finance Committee believe many people who are eligible to claim the credit are unaware of its existence. Read more