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Tax season is here

December 30 2018 Despite the ongoing government shutdown, tax season is essentially upon us.  If not resolved, the shutdown could delay the official start of tax season, as defined by the date the IRS begins accepting and processing tax returns. But even though the government may allow themselves to ignore their responsibilities, that privilege does […]

Seven Steps for Making Identity Protection Part of Your Routine

December 7, 2015 The theft of your identity, especially personal information such as your name, Social Security number, address and children’s names, can be traumatic and frustrating. In this online era, it’s important to always be on guard. The IRS has teamed up with state revenue departments and the tax industry to make sure you […]

Tax Season to Open As Planned Following Extenders Legislation

IR-2014-119, Dec. 29, 2014 WASHINGTON — Following the passage of the extenders legislation, the Internal Revenue Service announced today it anticipates opening the 2015 filing season as scheduled in January. The IRS will begin accepting tax returns electronically on Jan. 20. Paper tax returns will begin processing at the same time. The decision follows Congress […]

Key Tax Breaks Retroactively Reinstated

December 29, 2014 The clock is ticking … is opportunity knocking? Provided by Milton Cooley If you hurry, you might realize some nice tax breaks before 2014 runs out. Once again, Congress has acted at the eleventh hour to bring back some expired tax perks. H.R. 5771, the Tax Increase Prevention Act, was passed and […]

How the Affordable Care Act (Obamacare) affects your tax return

December 15, 2015 The Individual Shared Responsibility Provision What this means for you and your family Under the Affordable Care Act, the Federal government, State governments, insurers, employers, and individuals share the responsibility for health insurance coverage beginning in 2014. Many people already have qualifying health insurance coverage (called minimum essential coverage) and do not […]

Year-End IRA Reminders

Individual Retirement Accounts are an important way to save for retirement. If you have an IRA or may open one soon, there are some key year-end rules that you should know. Here are the top four reminders on IRAs from the IRS: 1. Know the limits.  You can contribute up to a maximum of $5,500 ($6,500 […]

Retirees: Take Required Retirement Plan Distributions by Dec. 31

IRS YouTube Videos: Required Withdrawals from Your IRA: English | Spanish | ASL Podcasts: Required Withdrawals from Your IRA: English | Spanish IR-2014-112, Dec. 8, 2014 WASHINGTON — The Internal Revenue Service today reminded taxpayers born before July 1, 1944, that they generally must receive payments from their individual retirement arrangements (IRAs) and workplace retirement […]

2014 Tax Season to Open Jan. 31; e-file Can Speed Refunds

WASHINGTON — The Internal Revenue Service announced plans to open the 2014 filing season on Jan. 31 and encouraged taxpayers to use e-file or Free File as the fastest way to receive refunds. The new opening date for individuals to file their 2013 tax returns will allow the IRS adequate time to program and test […]

Track Santa on Christmas Eve

If you and your children would like to track Santa’s journey on Christmas Eve, visit NORAD Tracks Santa. In addition to tracking Santa, you can play games, watch videos, listen to music, and learn about holiday traditions from around the world on NORAD Tracks Santa. Find out why and how NORAD (North American Aerospace Defense Command) tracks […]

Three Year-End Tax Tips to Help You Save

Although the year is almost over, you still have time to take steps that can lower your 2013 taxes. Now is a good time to prepare for the upcoming tax filing season. Taking these steps can help you save time and tax dollars. They can also help you save for retirement. Here are three year-end […]