Articles

Upcoming Tax Deadlines

July 1, 2012

July Mon 2 File Form 11-C to register and pay annual tax if you are in the business of taking wagers. Mon 2 File Form 730 and pay the tax on wagers accepted during May. Read More

FAQ: Education Credits

July 1, 2012

Question:   Do tuition and related expenses paid to attend a private high school qualify for an education credit? Answer:   No. Expenses paid to attend a private high school do not qualify for an education credit Read More

Renting Your Vacation Home

July 1, 2012

Income that you receive for the rental of your vacation home must generally be reported on your federal income tax return. However, if you rent the property for only a short time each year, you Read More

Failure to File or Pay Penalties: Eight Facts

July 1, 2012

The number of electronic filing and payment options increases every year, which helps reduce your burden and also improves the timeliness and accuracy of tax returns. When it comes to filing your tax return, however, Read More

IRS Announces More Flexible Offer-in-Compromise Terms

July 1, 2012

The Internal Revenue Service announced another expansion of its “Fresh Start” initiative by offering more flexible terms to its Offer in Compromise (OIC) program that will enable some of the most financially distressed taxpayers to Read More

Upcoming Tax Deadlines

April 1, 2012

April Mon 2 Electronically file Forms W-2, W-2G, 1098, 1099, and 8027. Wed 4 Deposit payroll tax for payments on Mar 28-30 if the semiweekly deposit rule applies. Fri 6 Deposit payroll tax for payments on Mar Read More

FAQ: Refund Splits

April 1, 2012

Question: What is a split refund? Answer: A split refund lets you divide your refund, in any proportion you want, and direct deposit the funds in up to three different accounts with U.S. financial institutions. Read More

Health Insurance Tax Breaks for the Self-Employed

April 1, 2012

If you’re self-employed and paying for medical, dental or long-term care insurance, the IRS wants to remind you about a special tax deduction for some insurance premiums paid for you, your spouse, and your dependents. Read More

More Time to Contribute to IRAs in 2012

April 1, 2012

You have two extra days this year to make contributions to your Individual Retirement Arrangements. That’s because April 15 falls on a weekend and Emancipation Day, a legal holiday in the District of Columbia, will Read More