Category Archives: Individual

As you get ready to prepare your 2009 tax return, the Internal Revenue Service wants to make sure you have all the details about tax law changes that may impact your tax return. Here are the top five changes that … Continue reading →

While most income you receive is generally considered taxable, there are some situations when certain types of income are partially taxed or not taxed at all. To ensure taxpayers are familiar with the difference between taxable and non-taxable income, the … Continue reading →

Taxpayers with disabilities may qualify for a number of IRS tax credits and benefits. Parents of children with disabilities may also qualify. Listed below are seven tax credits and other benefits that are available if you or someone else listed … Continue reading →

The Earned Income Tax Credit, commonly referred to as EITC, can be a financial boost for working people adversely impacted by hard economic times. However, one in four eligible taxpayers could miss out on the credit because they don’t check … Continue reading →

If you want to get your refund as quickly as possible, just tell the IRS to deposit your refund directly into your bank account. By choosing Direct Deposit, you can get your refund much sooner than if you chose to … Continue reading →

You must file a tax return if your income is above a certain level. The amount varies depending on filing status, age and the type of income you receive. Check the Individuals section of IRS.gov or consult the instructions for … Continue reading →

Many working taxpayers are eligible for the Making Work Pay Tax Credit, a provision created by the American Recovery and Reinvestment Act in early 2009. Here are 10 things the IRS wants you to know about this tax credit to … Continue reading →

Hobbies – such as woodworking, stamp collecting and scrapbooking – are often done for pleasure, but can result in a profit. If your favorite activity does make a profit every year or so, there may be tax implications. You must … Continue reading →

Taxpayers who find themselves the victim of a natural disaster or theft this summer should know the rules for deducting their casualty losses next year when they file their federal tax return. Generally, you may deduct losses to your home, … Continue reading →