/Individual Income Tax

Top Ten Adoption Tax Credit Facts to Consider

By |2017-03-25T14:06:03-04:00March 25th, 2017|Individual Income Tax, Parents and Children|

source: IRS.gov Taxpayers who have adopted or tried to adopt a child in 2016 may qualify for a tax credit. Here are ten important things about the adoption credit: The Credit. The credit is nonrefundable, which may reduce taxes owed to zero. If the credit exceeds the tax owed, there [...]

2017 Tax Filing Season Begins Jan. 23 for Nation’s Taxpayers, Tax Returns due April 18

By |2016-12-09T16:57:44-04:00December 9th, 2016|Affordable Care / ObamaCare, Corporate Income Tax, Earned Income Tax Credit, Individual Income Tax|

Source: IRS.gov WASHINGTON ― The Internal Revenue Service announced today that the nation’s tax season will begin Monday, Jan. 23, 2017 and reminded taxpayers claiming certain tax credits to expect a longer wait for refunds.   The IRS will begin accepting electronic tax returns that day, with more than 153 [...]

IRS Grants Tax Relief Extension to Drought-Stricken Farmers, Ranchers; 37 States and Puerto Rico Affected

By |2016-10-11T15:43:54-04:00October 11th, 2016|Corporate Income Tax, Individual Income Tax, News Articles|

Source: IRS.gov If you are a farmer or rancher forced to sell your livestock because of the drought that affects much of the nation, special IRS tax relief may help you. The IRS has extended the time to replace livestock that their owners were forced to sell due to drought. [...]

Miscellaneous Deductions Can Trim Taxes

By |2016-07-23T16:11:09-04:00July 23rd, 2016|Employees, Individual Income Tax|

<Source: IRS.gov> Miscellaneous deductions may reduce your tax bill. These may include certain expenses you paid for in your work if you are an employee. You must itemize deductions when you file to claim these costs. Many taxpayers claim the standard deduction, but you might pay less tax if you [...]