A Lesson from the IRS for Students Starting a Summer Job

WASHINGTON – IRS SUMMERTIME TAX TIP 2012-03 – School’s out, but the IRS has another lesson for students who will be starting summer jobs. Summer jobs represent an opportunity for students to learn about the tax system. Read more

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Keep the Child and Dependent Care Tax Credit in Mind for Summer Planning

WASHINGTON – IRS Summertime Tax Tip 2012-01 – During the summer many parents may be planning the time between school years for their children while they work or look for work. The IRS wants to remind taxpayers that are considering their summer agenda to keep in mind a tax credit that can help them offset some day camp expenses.  Read more

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Who Needs to Make Quarterly Income Tax Payments

Any taxpayer that has income that is not subject to withholding may need to make quarterly estimated income tax payments. Read more

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Tax Questions After You File Your Tax Return

Once you have filed your 2011 tax return, you may still have a few tax questions. The IRS provides these answers to commonly asked questions. Read more

Six Tips for People Who Pay Estimated Taxes

IRS Tax Tip 2012-65 – You may need to pay estimated taxes to the IRS during the year if you have income that is not subject to withholding. This depends on what you do for a living and the types of income you receive.

These six tips from the IRS explain estimated taxes and how to pay them. Read more

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Be Diligent About Saving Your Tax Records

You’re probably getting ready to sort out last year’s financial records and prepare for this year’s recordkeeping. But what should you keep and what can you throw away? Here are some suggestions.   Read more

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Some Deductions Are Available Even If You Don’t Itemize

If you’ve given up itemizing deductions, you’re not alone. These days over half of all taxpayers find they’re better off using the standard deduction. But even if you take the standard deduction, you can also deduct some individual expenses on your 2011 tax return, including the following: Read more

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Six Important Facts about Dependents and Exemptions

WASHINGTON – IRS TAX TIP 2012-07 – Even though each individual tax return is different, some tax rules affect every person who may have to file a federal income tax return. These rules include dependents and exemptions. The IRS has six important facts about dependents and exemptions Read more

Recordkeeping is Required for Charitable Deductions

Get the documentation you’ll need for all your 2011 charitable contributions, or you risk losing your deduction. Even gifts under $250 require a bank record or a receipt from the charity.

Phishing Scams

Don’t be Scammed by Cyber Criminals

WASHINGTON – IRS TAX TIP 2012-08 – The Internal Revenue Service receives thousands of reports each year from taxpayers who receive suspicious emails, phone calls, faxes or notices claiming to be from the IRS. Many of these scams Read more