The IRS has announced it will delay the start of tax season due to the Federal government shut-down. The agency needs adequate time to program and test tax processing systems prior to the start of next tax season. The earliest individual tax returns will be accepted is now January 28, 2014. The filing deadline remains… Continue reading IRS Delays Tax Season
Tag: Tax return (United States)
Tax Tips for Newlyweds
From IRS Tax Tips: Late spring and early summer are popular times for weddings. Whatever the season, a change in your marital status can affect your taxes. Here are several tips from the IRS for newlyweds. It’s important that the names and Social Security numbers that you put on your tax return match your Social Security… Continue reading Tax Tips for Newlyweds
Spring Clean Up Project #4: Your Closets, Garages, and Attics
In today's consumer driven world we live in, almost everyone builds up clutter that never sees the light of day. Why not take this opportunity to clean out your closets, garages, and attics and generate a tax deduction while you're at it? Donating these goods can also save you taxes, as long as you itemize… Continue reading Spring Clean Up Project #4: Your Closets, Garages, and Attics
First-Time Homebuyer Credit Look-up Tool
From The IRS Tax Tips Mailing: The IRS no longer mails reminder letters to taxpayers who have to repay the First-Time Homebuyer Credit. To help taxpayers who must repay the credit, the IRS website has a user-friendly look-up tool. Here are four reminders about repaying the credit and using the tool: 1. Who needs to repay… Continue reading First-Time Homebuyer Credit Look-up Tool
HOW LONG DO YOU NEED TO KEEP YOUR TAX RECORDS?
At my firm, we get this question all the time: "How long do I need to keep my tax records?" Here is the IRS answer to this question: Well organized records make it easier to prepare a tax return and help provide answers if your return is selected for examination, or to prepare a response… Continue reading HOW LONG DO YOU NEED TO KEEP YOUR TAX RECORDS?
IRS: Job Search Expenses Can Be Tax Deductible
Many healthcare professionals work based on the Academic Calendar. That means that a lot of Doctors switch jobs over the summer. According to our friends at the IRS in their IRS Summertime Tax Tip 2012-06: Summertime is the season that often leads to major life decisions, such as buying a home, moving or a job… Continue reading IRS: Job Search Expenses Can Be Tax Deductible