South Carolina Taxpayers Should Wait Before Enrolling in a Second Year of Credit Monitoring Offered by Experian

PUBLIC NOTICE Columbia, SC (September 17, 2013) — Taxpayers are encouraged to be patient in making a decision about the continued credit monitoring services offered by any vendor, including Experian, until they have an opportunity to evaluate the services the state will cover and soon make available. The state Budget and Control Board is in […]

FDIC Consumer Newsletter Features Financial Tips for Seniors

September 9, 2013 Consumers face financial issues in their retirement years ranging from how to maintain their lifestyle and pay for medical expenses on a fixed income to avoiding scams that target the elderly. To help older adults make informed decisions and protect their assets, the Summer 2013 issue of FDIC Consumer News features a […]

Three Tax Scams to Beware of This Summer

September 8, 2013 Are you thinking about taxes while you’re enjoying the warm summer months? Not likely! But the IRS wants you to know that scammers ARE thinking about taxes and ways to dupe you out of your money. Tax scams can happen anytime of the year, not just during tax season. Three common year-round […]

Give Withholding and Payments a Check-up to Avoid a Tax Surprise

September 8, 2013 Some people are surprised to learn they’re due a large federal income tax refund when they file their taxes. Others are surprised that they owe more taxes than they expected. When this happens, it’s a good idea to check your federal tax withholding or payments. Doing so now can help avoid a […]

Ten Tax Tips for Individuals Selling Their Home

September 8, 2013 If you’re selling your main home this summer or sometime this year, the IRS has some helpful tips for you. Even if you make a profit from the sale of your home, you may not have to report it as income. Here are 10 tips from the IRS to keep in mind […]

IRS Recognizes Legal Same-Sex Marriages For Federal Tax Purposes

WASHINGTON — The U.S. Department of the Treasury and the Internal Revenue Service (IRS) today ruled that same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for federal tax purposes. The ruling applies regardless of whether the couple lives in a jurisdiction that recognizes same-sex marriage or a jurisdiction […]

IRS will treat same-sex marriages the same as heterosexual ones

According to news sources, the IRS has decided to recognize same sex marriages no differently than heterosexual marriages, regardless of whether the couple’s state of residence recognizes the marriage.  This will open up many benefits (and many disadvantages) for single gender couples, for example the ability to file married filing jointly and married filing seperately. […]

Tax Provisions of the Health Care Reform Law

The IRS has launched a new Affordable Care Act Tax Provisions website at IRS.gov/aca to educate individuals and businesses on how the health care law may affect them. The new home page has three sections, which explain the tax benefits and responsibilities for individuals and families, employers, and other organizations, with links and information for […]

Tips for Employers Who Outsource Payroll Duties

Many employers outsource their payroll and related tax duties to third-party payers such as payroll service providers and reporting agents. Though most of these businesses provide very good service, there are, unfortunately, some who do not have their clients’ best interests at heart. Here are some steps employers can take to protect themselves from unscrupulous […]

Explore a Quick and Simple Way of Understanding Taxes

If you’re a student or teacher, the summer months may be a nice break from class, but they’re also a good time to learn something new. A quick and simple way to learn about taxes is by using the IRS Understanding Taxes program. The program is a free online tool designed in partnership with teachers […]