Monday, April 15, 2013
Tax Day is Monday - The Internal Revenue Service says taxpayers who need more time to file don't need to panic.
Can't file your tax returns by the Monday, April 15 deadline? Extensions are available. Those who haven't finished completing their returns can get an automatic six-month extension. The fastest and easiest way to get the extra time, the IRS says, is through this Free File link — use the free service to electronically request an automatic tax-filing extension on Form 4868. Filing this form gives taxpayers until October 15 to file a return and allows individuals to avoid a late-filing penalty. To get the extension, you must estimate your tax liability and also pay any amount due. Can't pay the full amount you owe the government? Click here to find out about setting up payments. You might also be interested in reading:
Monday, February 11, 2013
April 15 is just around the corner. Here are some indications you should look to someone else to prepare your taxes before the big day gets here.
Monday, February 11
According to a DailyFinance post, there are far too many tax preparers out there with good intentions who are too incompetent to do the job. Warnings signs include someone asking you to lie about your charitable donations, the preparer not asking for the proper financial records and someone not giving you their credentials. Read the full list of signs, with details, by clicking here. Looking for reputable tax professional in Lilburn? Click here to access the Lilburn-Mountain Park Directory for businesses offering financial services. See also: Don’t miss any Lilburn news. Subscribe to Lilburn-Mountain Park's free newsletter, like us on Facebook and follow us on Twitter.
Monday, January 21, 2013
It's tax time again in Lilburn and elsewhere. Standard deductions will increase, but the ceiling for itemized deductions decrease in 2013, plus other changes that will affect your taxes this year.
The Internal Revenue Service recently announced 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. The tax items for 2013 of greatest interest to most taxpayers include the following changes. Details on these inflation adjustments and others are contained in Revenue Procedure 2013-15, which will be published in Internal Revenue Bulletin 2013-5 on Jan.28, 2013. Other inflation adjusted items were published in October 2012 in Revenue Procedure 2012-41. -News release from the Internal Revenue Service
Sunday, January 13, 2013
The IRS has announced a delayed start to the 2012 tax filing season.
You'll have to wait a bit if you are used to filing your annual tax return at the earliest possible date. The Internal Revenue Service has revised its opening date for tax season -- pushing it eight days to January 30, 2013. The tax filing deadline is Monday, April 15 The IRS will begin accepting tax returns on Jan. 30, 2013. Most taxpayers should be able to file on that date though some revised forms may not be immediately available. You can blame the delay on the federal "fiscal cliff" crisis and the new tax bill Congress passed just after Dec. 31. You can find more information in this Forbes article. Electronic filing season was originally set to start on Jan. 22 this year. As a result of the delay, nobody will get a refund in January, …