Check your Eligibility for Earned Income Tax Credit
Source: IRS.gov The Earned Income Tax Credit is a financial boost for workers earning $49,078 or less in 2011. Four of five eligible taxpayers filed for and received their EITC last year. The IRS wants you to get what you earned also, if you are eligible. Here are the top [...]
IRS Reminds Parents of Ten Tax Benefits
Source: www.irs.gov Your kids can be helpful at tax time. That doesn't mean they'll sort your tax receipts or refill your coffee, but those charming children may help you qualify for some valuable tax benefits. Here are 10 things the IRS wants parents to consider when filing their taxes this [...]
IRS e-file Launches Today; Most Taxpayers Can File Immediately
IRS.gov WASHINGTON — The Internal Revenue Service opened the 2012 electronic tax return filing season today with a reminder to taxpayers that e-file remains the best way to get fast refunds and ensure accurate tax returns. IRS e-file has surpassed the milestone of 1 billion returns processed. The electronic transmission [...]
Tax Savings Tips for Small Business
Taxpayers have many options available to save and lower their tax liability before the year-end. Often, it comes down to planning, saving, and working with your tax professional. One way to use tax planning is to find out what your taxable income is prior to year-end and what tax bracket [...]
Accounting for Trust Accounts
The Florida Bar and Law Office Management Assistance Service (LOMAS) have released information about some of the reasons attorney’s become subject to license suspension and penalties due to issues with their trust accounts. More and more law firms including small individual practices and large partnerships are going to be subject [...]
Common 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 – [...]