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Give Tax Records a Mid-Year Tune-up this Summer

During the summer, you may not think about doing your taxes, but maybe you should. Some of the expenses you’ve paid over the past few months might qualify for money-saving tax credits or deductions come tax time. If you organize your tax records now, you’ll make tax filing easier and faster when you do them […]

Keep Tax and Financial Records Safe in Case of a Natural Disaster

Hurricanes, tornadoes, floods and other natural disasters are more common in the summer. The IRS encourages you to take a few simple steps to protect your tax and financial records in case a disaster strikes. Here are five tips from the IRS to help you protect your important records: 1. Backup Records Electronically.  Keep an extra […]

IRS Open Aug. 30 as Cost-Cutting Continues; Will Reevaluate Need for Furlough Day in September

WASHINGTON — The Internal Revenue Service is postponing the furlough day scheduled for Friday, Aug. 30 due to its successful ongoing efforts to cut costs. In early September, the IRS will reevaluate the need for an additional furlough day before the federal fiscal year ends on Sept. 30. As a result, IRS offices will be […]

Back-to-School Tax Tips for Students and Parents

Going to college can be a stressful time for students and parents. The IRS offers these tips about education tax benefits that can help offset some college costs and maybe relieve some of that stress. • American Opportunity Tax Credit.  This credit can be up to $2,500 per eligible student. The AOTC is available for the […]

IRS Offers Tips on How to Amend Your Tax Return

If you discover an error after you file your tax return, you can correct it by amending your return. Here are 10 tips from the Internal Revenue Service about amending your federal tax return: 1. When to amend a return.  You should file an amended return if you need to correct your filing status, number of […]

Tips for Taxpayers Who Travel for Charity Work

Do you plan to travel while doing charity work this summer? Some travel expenses may help lower your taxes if you itemize deductions when you file next year. Here are five tax tips the IRS wants you to know about travel while serving a charity. 1. You must volunteer to work for a qualified organization. Ask […]

Reduce Your Taxes with Miscellaneous Deductions

If you itemize deductions on your tax return, you may be able to deduct certain miscellaneous expenses. You may benefit from this because a tax deduction normally reduces your federal income tax. Here are some things you should know about miscellaneous deductions: Deductions Subject to the Two Percent Limit.  You can deduct most miscellaneous expenses […]

Job Search Expenses May Lower Your Taxes

Summer is often a time when people make major life decisions. Common events include buying a home, getting married or changing jobs. If you’re looking for a new job in your same line of work, you may be able to claim a tax deduction for some of your job hunting expenses. Here are seven things […]

Annual Sales Tax Holiday in South Carolina is August 2 – 4

Columbia, SC (July 17, 2013) — The popular Sales Tax Holiday weekend in South Carolina will take place Friday, August 2 at 12:01 am and continue through Sunday, August 4 at midnight. During the 14th Annual Sales Tax Holiday, shoppers will benefit from an exemption of the 6% state sales tax and any applicable local […]

IRS Open On Monday; Agency Cuts Costs, Cancels July 22 Furlough

WASHINGTON — The Internal Revenue Service is cancelling the furlough day scheduled for Monday, July 22 due to its successful ongoing efforts to cut costs. As a result, IRS offices will be open as usual and IRS employees will be paid for that day. This means that all toll-free services, including the Taxpayer Advocate Service, […]