Now that tax season is here again identity theft is on the rise and the IRS has made preventing identity theft a top priority this year. Here’s what identity thieves have been doing: They steal a taxpayer’s personal information and use it to file a tax return claiming...
If you haven’t already taken advantage of the tax incentive for energy-efficient improvements to your home, 2013 may be the year to install furnaces, windows, doors or skylights. Qualifying purchases are eligible for a federal credit which can reduce your tax...
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...
The IRS has recently released a video that helps walk taxpayers through the Where’s My Refund? section of their website. It is a very detailed step-by-step tutorial guiding taxpayers through the different areas of the online tool. You can click the previous link or go...
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...
The 2010 health care reform legislation included several provisions that go into effect this year. Among them is the increase in Medicare Tax for taxpayers with incomes above certain levels. Here is an overview of these two new taxes. FIRST, the Payroll Medicare...
