Tax Relief for Victims of Tropical Storm Debby in Florida

By |2012-07-13T17:11:23-04:00July 13th, 2012|Home Owners, Individual Income Tax, News Articles|

Source: FL-2012-07, Jul. 5, 2012 PLANTATION — Victims of tropical storm Debby that began on June 23, 2012 in parts of Florida may qualify for tax relief from the Internal Revenue Service. The President has declared Baker, Bradford, Clay, Columbia, Duval, Franklin, Hernando, Highlands, Nassau, Pasco, Pinellas Suwannee, Union [...]

Summertime Tax Tip

By |2012-07-06T10:02:02-04:00July 6th, 2012|Individual Income Tax, Parents and Children|

Source: Keep the Child and Dependent Care Tax Credit in Mind for Summer Planning During the summer many parents may be planning the time between school years for their children while they work or look for work. The IRS wants to remind taxpayers that are considering their summer agenda [...]

Employee Business Expenses

By |2012-06-19T12:16:28-04:00June 19th, 2012|Employees, Individual Income Tax|

Source: IRS Tax Tip 2012-54 -- Employee Business Expenses Some employees may be able to deduct certain work-related expenses. The following facts from the IRS can help you determine which expenses are deductible as an employee business expense. You must be itemizing deductions on IRS Schedule A to qualify. [...]

What is Alternative Minimum Tax

By |2012-04-14T15:22:06-04:00April 14th, 2012|Individual Income Tax|

source: Topic 556 - Alternative Minimum Tax The tax law provides exclusions for certain kinds of income and deductions and credits for certain expenses. The alternative minimum tax (AMT) attempts to ensure that an individual who benefits from certain exclusions, deductions, or credits pays at least a minimum amount [...]

IRS Issues Rules for Providing K-1s Electronically

By |2012-02-20T15:40:27-05:00February 20th, 2012|Corporate Income Tax, Forms, Individual Income Tax|

Source: WASHINGTON — The IRS today issued guidance that now allows partnerships to provide Schedule K-1, Partner’s Share of Current Year Income, Deductions, Credits, and Other Items electronically to recipients. Certain entities, such as partnerships, are required annually to file K-1s with the IRS and provide a copy to [...]

IRS Releases the Dirty Dozen Tax Scams for 2012

By |2012-02-16T16:14:52-05:00February 16th, 2012|Individual Income Tax|

Source: WASHINGTON –– The Internal Revenue Service today issued its annual “Dirty Dozen” ranking of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud. The Dirty Dozen listing, compiled by the [...]

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