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Posts from April, 2013

  • Relief Available to Many Extension Requesters Claiming Tax Benefits The Internal Revenue Service provided late-payment penalty relief to individuals and businesses requesting a tax-filing extension because they are attaching to their returns any of the forms that couldn’t be filed until after January. The relief applies to the late-payment ... Continue Reading
  • Failure to File or Pay Penalties: Eight Facts 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, the law provides that the IRS can assess a penalty if you ... Continue Reading
  • Two Education Credits Help Pay Higher Education Costs The American Opportunity Credit and the Lifetime Learning Credit may help you pay for the costs of higher education. If you pay tuition and fees for yourself, your spouse or your dependent you may qualify for these credits. Here are some facts about these important credits: ... Continue Reading
  • Time Is Running Short to Claim Prior Year Returns If you haven’t filed your 2009 federal tax return, you may still have time to claim your tax refund. The IRS has $917 million in unclaimed refunds from an estimated 984,000 tax returns that people didn’t file for the 2009 tax year. The IRS estimates that half the potential ... Continue Reading
  • Upcoming Tax Deadlines April Mon 1 Electronically file Forms W-2, W-2G, 1098, 1099, and 8027. Mon 1 File Form 2290 and pay the tax for vehicles first used in February. Mon 1 File Form 730 and pay the tax on wagers accepted during February. Wed 3 Deposit payroll tax for payments on Mar 27-29 if the ... Continue Reading