It’s important to use the correct filing status when filing your income tax return. It can impact the tax benefits you receive, the amount of your standard deduction and the amount of taxes you pay. It may even impact whether
Category: Taxes
IRS to Accept Returns with Depreciation and Education Credits Next Week
IR-2013-18, Feb. 8, 2013 WASHINGTON — The Internal Revenue Service announced today that taxpayers will be able to start filing two major tax forms next week covering education credits and depreciation. Starting Sunday, Feb. 10, the IRS will start processing
Refund Cycle Chart Discontinued by IRS
No Refund Cycle Chart In previous years, the IRS would publish a refund cycle chart showing when a particular tax return would be deposited into a taxpayers bank account if they elected Direct Deposit of their refund. This was true
Business e-File Starts February 4
Many businesses will be able to file their 2012 federal income tax returns starting Monday, February 4. The Monday opening covers non-1040 series business returns for calendar year 2012, including Form 1120 filed by corporations, Form 1120S filed by S
Education Tax Credit Returns on Hold until Mid-February
Taxpayers using Form 8863, Education Credits, can begin filing their tax returns after the IRS updates its processing systems. It was discovered during testing that programming modifications are needed to accurately process Form 8863. Form 8863 is used to claim two higher
Earned Income Tax Credit
If you earned less than $45,060 (or $50,270 if you’re married and filing jointly) last year, you may qualify for the Earned Income Tax Credit (EITC). The maximum credit for tax year 2012 is $5,891. Even if you don’t owe
Filing Status for Married Taxpayers
Married taxpayers may file as Married Filing Jointly or Married filing Separately. Read more information about each filing status in the tabs below.
List of IRS forms that 1040 filers can begin filing in late February or into March 2013
Form 3800 General Business Credit Form 4136 Credit for Federal Tax Paid on Fuels Form 4562 Depreciation and Amortization (Including Information on Listed Property) Form 5074 Allocation of Individual Income Tax to Guam or the Commonwealth of the Northern Mariana
Tax Filing Documents
Common Income and Deduction Statements Most taxpayers depend on the same basic information to file returns. If you work for someone else, the IRS expects you, and the agency, to get a statement detailing that income. The information is slightly
IRS Annual Inflation Adjustments for 2013
WASHINGTON — The Internal Revenue Service announced today annual inflation adjustments for tax year 2013, including the tax rate schedules, and other tax changes from the recently passed American Taxpayer Relief Act of 2012.