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
Tag: irs
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
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
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.
2012 Standard and Itemized Deductions
Most taxpayers claim the standard deduction amount. The amounts are adjusted each tax year for inflation. For 2012, the standard deduction for taxpayers younger than 65
IRS to Offer Simplified Home Office Deduction in 2013 Tax Year
IRS Announces Simplified Option for Claiming Home Office Deduction Starting This Year; Eligible Home-Based Businesses May Deduct up to $1,500; Saves Taxpayers 1.6 Million Hours A Year IR-2013-5, Jan. 15, 2013 WASHINGTON — The Internal Revenue Service today announced a
Start of Tax Season Delayed Until End of January
The tax return filing season will start on January 30 for most taxpayers, not on January 22 as originally planned. In addition, tax forms impacted by late extender legislation will be delayed until late February or early March. IRS News
7 Ways to Get Organized
Even if your tax situation isn’t complicated, there’s still documentation the Internal Revenue Service demands. But filing taxes doesn’t have to be an ordeal. And it can be less frustrating and less time-consuming if you have all the material at