Can I claim the IRX Tax credit for elderly or permanently and totally disabled?
Yes, you can claim tax credit for elderly or disabled person provided you must be age 65 or older or permanently and totally disabled and your income and nontaxable social security and other nontaxable pension benefits must be below specified amounts.
For those hiding their offshore bank accounts from IRS to save taxes might have a relief but not for long. IRS has extended Deadline for Disclosing Hidden Offshore Accounts.
IRS has issued a one-time extension of the deadline for special voluntary disclosures by taxpayers with unreported income from hidden offshore accounts. You will now have to report [...]
IRS has announced that the 2010 IRS Tax Calendar for Small Businesses and the Self-Employed is now available for pre-order at IRS.gov. The 2010 IRS Tax calender is available in english and spanish language.
This 2010 Tax Calender edition is a 12-month wall calendar filled with useful information on general business taxes, IRS and SSA customer assistance, [...]
The American Recovery and Reinvestment Act Stimulus Bill provided $300 million to states for consumer rebates on the following ENERGY STAR qualified appliances:
central air conditioners
heat pumps (air source and geothermal)
boilers
furnaces (oil and gas)
room air conditioners
clothes washers
dishwashers
refrigerators/freezers
water heaters
Each state will develop its own rebate program, and has the flexibility to select which appliances to include and what rebate amounts [...]
Federal law requires you, as an employer, to withhold taxes from your employees’ paychecks. Each time you pay wages, you must withhold – or take out of your employees’ paychecks – certain amounts for federal income tax, social security tax, and Medicare tax. Under the withholding system, taxes withheld from your employees are credited to [...]
How to Deal with an IRS Notice if ever you receive one? Most americans are confused, terrified by the IRS notice showing up in their mailbox. However history says that you can very well handle the IRS notice without any need to panic.
Every year, IRS sends millions of letters and notices to taxpayers. Many taxpayers [...]
IRS has issued an updated guidelines for the new modernized E-file MeF platform used for IRS form 1040.
Software Developers and Transmitters who currently participate in the e-file program and want to participate in the 1040 MeF program can update their e-file application to add “MeF Internet, XML” as a transmission method on their “Forms” page [...]
This notice is for all software developers, Return Transmitters and Authorized IRS e-file Providers/EROs.
IRS has updated the Form 1120/1120F/1120S and 7004 for Tax Year 2009. The Tax Year 2009 Form Family 1120/1120F/1120S and 7004 Schemas, Business Rules and Release Memo have been posted on IRS.gov.
You can access the new files from the Valid XML Schemas and Business Rules for 1120/1120F/1120S/7004 Modernized e-File [...]
IRS has officially announced the inflation adjustment factor and phase-out amount for the enhanced oil recovery credit for taxable years beginning in the 2009 calendar year. The IRS Notice 2009-73 also contains the previously published figures for taxable years beginning in the 1991 through 2008 calendar years.
The notice contains a major update on Oil Recovery Tax [...]
Although most people won’t be filing their tax returns for several months, the dog days of summer are actually a great time to start planning for the tax filing season by ensuring your records are organized. Whether you are an individual taxpayer or a business owner, you can avoid headaches at tax time with good [...]
