September 29, 2009 – 1:29 pm
It is estimated that 3 out of every 4 returns filed has a computing or typographical error that can end up costing you hundreds if not thousands of dollars down the road.
By Steve
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Also posted in TurboTax
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Tagged accurate, easy way, efile, filing, income tax, new tax laws, refund, tax credits, tax information, tax return, the refund you deserve, turbo tax, turbo tax 2009, Turbo Tax This Year, TurboTax
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If you were unemployed last year and are working on completing your tax return for 2009, there are a number of new tax benefits that can reduce the amount of tax you owe. The first place to look is at unemployment insurance which is normally taxable income. But during 2009, the first $2,400 of unemployment insurance is not taxable. So do not include this amount in your benefit when you complete your taxes.
By Steve
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Also posted in Tax Law, tax deductions, tax forms
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Tagged 401k, expenses, IRA, job hunting, moving expenses, tax benefits, unemployed, unemployment insurance, your tax return for 2009
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When you are a working taxpayer and have dependents that require care while you are working, you can take a tax credit called the Child and Dependent Care Tax Credit, to help offset the expenses. The dependent can be a child under the age of 13 or a spouse that requires care due to physical or mental limitations.
By Steve
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Also posted in Tax Law, tax credits, tax deductions, tax forms
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Tagged child and dependent care, dependent, earned income, full time students, irs, irs publication 503, spouse, tax credit, tax credits
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Not only is TaxAct the best online free federal tax return option with affordable state returns, but the tax preparation provider also has downloadable versions of its great software ready for you today. Download the Free Edition now and get the maximum refund possible, free eFiling, easy to use navigation, easy and complex tax forms, and unlimited support.
By Steve
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Tagged deluxe options, efile, fafsa, free edition, free efiling, free federal return, online free federal tax return, software download, state returns, state tax return, student aid, tax forms, Tax Preparation, tax software, taxact, taxact 2009, taxact online, taxact online 2008, unlimited support
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Every year many mistakes are made by US taxpayers as they file their income taxes for the year. Many of the mistakes are related to address, names, and social security numbers. But some of the mistakes are related to tax deductions. If you miss a tax deduction that you are eligible for, you could be missing out on a decent sized amount of money.
By Steve
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Also posted in tax assistance, tax credits, tax deductions, tax returns
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Tagged cash contributions, dividends, donations, file their income taxes, investments, local sales tax, state income tax, state sales tax, tax deductions, Tax Preparation, taxpayers
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The IRS is the sponsor of two volunteer programs to assist in the preparation of their taxes. The Volunteer Income Tax Assistance Program is for taxpayers that earn less than $49,000 a year. While the Tax Counseling for the Elderly Program is designed to help anyone over the age of 59. The programs provide volunteers who are specially trained to help these two groups. The volunteers want to make sure tax payers are filing their returns with the correct tax credits like the Earned Income Tax Credit and the Credit for the Elderly.
By Steve
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Also posted in Tax Law, tax assistance, tax credits, tax forms, tax returns
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Tagged aarp, child tax credit, combat zone tax credit, credit for the elderly, earned income credit, military, tax assistance, tax credits, tax-aid, tax-aid centers, Volunteer Income Tax Assistance, volunteers
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If you move addresses during the year and especially during the tax season, make sure to notify the IRS of your new address. Form 8822 is the IRS form for changing your address on file with the taxing authority. Completing this form and send it to the IRS is important. Other options are also available.
February 26, 2010 – 2:27 pm
The Alternative Minimum Tax was established in 1969 as an alternative tax system for individuals that were able to avoid paying taxes while still earning above average incomes. The system is not indexed to inflation and over time has been applied to more and more medium income households. Recent changes to the tax code have attempted to minimize this negative and unexpected event.
February 26, 2010 – 1:52 pm
Marital status and your annual income are the two deciding factors in determining how much of your Social Security Benefits are taxable. The really good news is that Social Security Benefits are not taxable if they are your only income for the tax year. And since your only income is not taxable, filing a return with the IRS is not necessary. Two great advantages.
November 9, 2009 – 3:58 pm
If you are in search of an online service that still provides a way for you to file your 2008 taxes before the end of the year, Free Tax USA is the solution you have been looking for.
By Steve
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Tagged 2008 tax form, 2008 Taxes, free federal return, free tax return filing, free tax returns, free tax usa, guaranteed, income tax 2008, income tax return, online filing, tax return form
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