Category Archives: Individual

January 31 wage statement deadline reminder for employers

The Internal Revenue Service urged employers to be aware of the January deadline to file Forms W-2 and other wage statements. Filing these documents timely helps employers avoid penalties and helps the IRS in fraud prevention. A 2015 law made … Continue reading

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What Teachers Should Know About Deducting Out-of-Pocket Classroom Expenses

Eligible educators may be able to deduct qualified expenses they paid in 2019 when they file their 2019 tax return. Taxpayers qualify for this deduction if they meet the following criteria: Teach any grade from kindergarten through twelfth grade Work … Continue reading

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More Innocent Spouses Qualify for Relief Under New IRS Guidelines

The Internal Revenue Service released new proposed guidelines designed to provide relief to more innocent spouses requesting equitable relief from income tax liability. A Notice proposing a new revenue procedure, posted today on IRS.gov, revises the threshold requirements for requesting … Continue reading

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IRS and Treasury Department Publish Temporary Regulations on Treatment of Tangible Property

The Internal Revenue Service and Treasury Department published in the Federal Register temporary regulations that provide guidance to taxpayers on the treatment of amounts paid to acquire, produce or improve tangible property and regarding the accounting for, and dispositions of, … Continue reading

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Interest Rates Remain the Same for the First Quarter of 2012

The Internal Revenue Service announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2012. The rates will be: three (3) percent for overpayments [two (2) percent in the case of a corporation]; three (3) … Continue reading

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IRS Seeks to Return $153 Million in Undelivered Checks to Taxpayers; Recommends e-file, Direct Deposit to Avoid Future Delivery Problems

In an annual reminder to taxpayers, the Internal Revenue Service announced that it is looking to return $153.3 million in undelivered tax refund checks. In all, 99,123 taxpayers are due refund checks this year that could not be delivered because … Continue reading

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Keep Good Records Now to Reduce Tax-Time Stress

You may not be thinking about your tax return right now, but summer is a great time to start planning for next year. Organized records not only make preparing your return easier, but may also remind you of relevant transactions, … Continue reading

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Nine Tips for Charitable Taxpayers

If you make a donation to a charity this year, you may be able to take a deduction for it on your 2011 tax return. Here are the top nine things the IRS wants every taxpayer to know before deducting … Continue reading

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Back-to-School Tips for Students and Parents Paying College Expenses

Whether you’re a recent graduate going to college for the first time or a returning student, it will soon be time to get to campus – and payment deadlines for tuition and other fees are not far behind. The Internal … Continue reading

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Ten Tax Tips for Individuals Who Are Moving This Summer

Summertime is a popular time for people with children to move since school is out. Moving can be expensive, but the IRS offers 10 tax tips on deducting some of those expenses if your move is related to starting a … Continue reading

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