Tax Retrun Deadline Extended to April 17 2012
The Internal Revenue Service today opened the 2012 tax filing season by announcing that taxpayers have until April 17 to file their tax returns. The IRS encourages taxpayers to e-file as it is the...
Category: Taxation
Applicable Federal Rates (AFR) for December 2011
Applicable Federal Rates (AFR) for December 2011
Extended Payroll Tax Cut
The Temporary Payroll Tax Cut Continuation Act of 2011 temporarily extends the two percentage point payroll tax cut for employees, continuing the reduction of their Social Security tax withholding rate from 6.2 percent to...
Tips for Outsourcing Payroll
Are you planning to outsource payrolls to payroll service provider? Outsourcing payroll duties to third-party service providers can streamline business operations, but the IRS reminds employers that they are ultimately responsible for paying federal...
IRS Letters and Visits to Return Preparers – FAQs Filing Season 2012
How many return preparers will be visited by IRS revenue agents prior to and during the 2012 filing season? What is the purpose of the visits? IRS revenue agents will be conducting approximately 2,100...
CP-2000 – Notice of Underreported Income
IRS compares the information reported by employers, banks, businesses and other payers on forms W-2, 1098, 1099, etc., with income and deductions reported on your income tax return. If you failed to report any...
Form W-9 Request for Taxpayer Identification Number and Certification
Form W–9 Instruction W–9 How Do I Know When To Use Form W-9? Use Form W-9 to request the taxpayer identification number (TIN) of a U.S. person (including a resident alien) and to request...
State Tax Forms
Here you will find links to State Tax Forms.
Pension Plan Limitations for 2012
IRS announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for Tax Year 2012. In general, many of the pension plan limitations will change for 2012 because the...
New Payment Card Reporting Requirements – FAQ
What is section 6050W of the Internal Revenue Code? Section 6050W was added by section 3091 of the Housing Assistance Tax Act of 2008 and requires information returns to be made by certain payors...
2012 Tax Benefits Increase Due to Inflation Adjustments
For tax year 2012, personal exemptions and standard deductions will rise and tax brackets will widen due to inflation. By law, the dollar amounts for a variety of tax provisions, affecting virtually every taxpayer,...
PTIN Renewals for 2012 Filing Season
The Internal Revenue Service announced that the nation’s 738,000 tax return preparers who have Preparer Tax Identification Numbers (PTINs) can now renew their PTINs for the 2012 filing season. Preparers are required to renew...
Sales Tax Deduction Calculator
To figure the amount of optional general sales tax you are eligible to claim, just answer a few online questions and the system does the rest. First select the tax year for which you...
Household Employer’s Tax Guide
Publication 926 – Introductory Material What’s New Reminder Introduction Tax questions. Publication 926 – Main Content Do You Have a Household Employee? Can Your Employee Legally Work in the United States? Do You Need...
Household Workers: Social Security, Medicare, W-2,
If you hire someone to work in your home, such as a cleaning person, a cook, a gardener or a baby sitter, both you and your employee should know about paying Social Security and...
Surviving Spouses to Benefit from Portability Election; Estate Tax Return Required to Make this Choice For Some, Form 706 Due as Early as Oct. 3
IR-2011-97, Sept. 29, 2011 The Internal Revenue Service reminded estates of married individuals dying after 2010 that they must file an estate tax return to pass along their unused estate & gift tax exclusion...
Electing Portability of Deceased Spousal Unused Exclusion Amount
1 If the executor of the estate of a decedent dying after December 31, 2010, intends to make the portability election to allow the decedent’s surviving spouse to use the deceased spousal unused exclusion...
IRS Tax Calendar 2011
IRS Tax Calendar 2011 Tax Calendar for Small Business
Claiming the Small Business Health Care Tax Credit
Many small employers that pay at least half of the premiums for employee health insurance coverage under a qualifying arrangement may be eligible for the small business health care tax credit. This credit can...
Equal Access to Tax Planning Act
Equal Access to Tax Planning Act – Deems any strategy for reducing, avoiding, or deferring tax liability insufficient to differentiate a claimed invention from the prior art when evaluating specified conditions of patentability under...