//July

Common Forms

By |2010-07-22T15:04:50+00:00July 22nd, 2010|AFSG, Forms|

Form 1040 ES –          2010 Federal Estimated Individual Income Tax Vouchers Form 2553 –                IRS Request to be taxed as an S-Corporation Form 4506-T –            Transcripts of prior year w-2s, 1099s, tax returns, and non-files Form 843 –                  Request to abate penalties and interest from the IRS Form 8821 – [...]

Starting in 2012, New law requires 1099s for goods, not just services

By |2010-07-08T11:11:10+00:00July 8th, 2010|Corporate Income Tax, News Articles|

Small businesses, charities face more reporting rules By Sandra Block, USA TODAY July 8, 2010 A little-known provision in the health care reform law could significantly increase tax recordkeeping requirements and costs for nearly 40 million self-employed workers, small businesses and charities, the IRS' national taxpayer advocate said Wednesday. Starting [...]

Death and Taxes

By |2010-07-06T16:39:16+00:00July 6th, 2010|Individual Income Tax|

Tax Responsibilities After Someone Dies The death of a loved one is always difficult but it can be even more challenging if you are the one who must handle all the resulting tax responsibilities. There are a couple different ways you can assume the required duties: You may be named as [...]

Limitations on Home Mortgage Interest Deductions

By |2010-07-05T14:15:32+00:00July 5th, 2010|Home Owners, Individual Income Tax|

source: IRS.gov NOTE: This headliner is current through the publication date. Since changes may have occurred, no guarantees are made concerning the technical accuracy after the publication date. Headliner Volume 299 June 22, 2010 The IRS reminds taxpayers that interest deductions on home mortgages are limited, including limitations for home [...]

Closing Deadline Extended to Sept. 30 for Eligible Homebuyer Credit Purchases

By |2010-07-05T13:50:05+00:00July 5th, 2010|First Time Home Buyers, Home Owners|

According to the IRS IR-2010-080: WASHINGTON — Eligible taxpayers who contracted to buy a home, qualifying for the first-time homebuyer credit, before the end of April now have until Sept. 30, 2010 to close the deal, according to the Internal Revenue Service. The Homebuyer Assistance and Improvement Act of 2010, [...]