Tag Archives: Internal Revenue Service

Spring 2013 Statistics of Income Bulletin Now Available

The Internal Revenue Service today announced the availability of the spring 2013 issue of the Statistics of Income Bulletin, which features information on high-income individual income tax returns filed for tax year 2010. Taxpayers filed almost 4.3 million returns with … Continue reading

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IRS Accepting Applications for Low Income Taxpayer Clinic Grants

  The Internal Revenue Service today announced the opening of the 2014 Low Income Taxpayer Clinic (LITC) grant application process. The LITC grant program is a federal program administered by the Office of the Taxpayer Advocate at the IRS, led … Continue reading

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Keep the Child Care Credit in Mind for Summer

If you are a working parent or look for work this summer, you may need to pay for the care of your child or children. These expenses may qualify for a tax credit that can reduce your federal income taxes. … Continue reading

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Interest Rates Remain the Same for the Third Quarter of 2013

The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning July 1, 2013, as in the prior quarter.  The rates will be: three (3) percent for overpayments [two (2) percent in the … Continue reading

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IRS Gives Tax Relief To Oklahoma Tornado Victims; Return Filing and Tax Payment Deadlines Extended to Sept. 30

After Monday’s devastating tornado in Moore and Oklahoma City,  the Internal Revenue Service today provided tax relief to individuals and businesses affected by this and other severe storms occurring in parts of Oklahoma. Following Monday’s disaster declaration for individual assistance … Continue reading

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Summer Job Tax Information for Students

When summer vacation begins, classroom learning ends for most students. Even so, summer doesn’t have to mean a complete break from learning. Students starting summer jobs have the opportunity to learn some important life lessons. Summer jobs offer students the … Continue reading

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IRS Offers Tips for Dealing with Notices

Each year, the IRS sends millions of letters and notices to taxpayers for a variety of reasons. Here are ten things you should know about IRS notices in case one shows up in your mailbox. 1. Don’t panic. Many of these … Continue reading

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Tips to Start Planning Next Year’s Tax Return

For most taxpayers, the tax deadline has passed. But planning for next year can start now. The IRS reminds taxpayers that being organized and planning ahead can save time and money in 2014. Here are six things you can do … Continue reading

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Six Facts on Tax Refunds and Offsets

Certain financial debts from your past may affect your current federal tax refund. The law allows the use of part or all of your federal tax refund to pay other federal or state debts that you owe. Here are six … Continue reading

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Eight Facts on Late Filing and Late Payment Penalties

April 15 is the annual deadline for most people to file their federal income tax return and pay any taxes they owe. By law, the IRS may assess penalties to taxpayers for both failing to file a tax return and … Continue reading

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