Source: IRS.gov Are you making a payment with your federal tax return this year? If so, here are 10 important things the IRS wants you to know about correctly paying your federal income taxes. 1. Never send cash. 2. If you file electronically, you can file and pay in a single step [...]
Source: IRS.gov A tax credit reduces the amount of tax you must pay. A refundable tax credit not only reduces the federal tax you owe, but also could result in a refund. Here are five credits the IRS wants you to consider before filing your 2012 federal income tax return: [...]
Source: IRS.gov The term “capital asset” for tax purposes applies to almost everything you own and use for personal or investment purposes. A capital gain or loss occurs when you sell a capital asset. Here are 10 facts from the IRS on capital gains and losses: 1. Almost everything you own [...]
Source: www.irs.gov The Alternative Minimum Tax may apply to you if your income is above a certain amount. Here are five facts the IRS wants you to know about the AMT: 1. You may have to pay the tax if your taxable income plus certain adjustments is more than the AMT [...]
Source: IRS.gov While each individual tax return is unique, there are some tax rules that affect every person who files a federal income tax return. These rules involve dependents and exemptions. The IRS has six important facts about dependents and exemptions that will help you file your 2012 tax return. [...]
Source: IRS.gov WASHINGTON - As preparations continue for the Jan. 30 opening of the 2013 filing season for most taxpayers, the Internal Revenue Service announced today that processing of tax returns claiming education credits will begin by the middle of February. Taxpayers using Form 8863, Education Credits, can begin filing [...]
