Columbia, SC (February 8, 2013) — Whether picking up tax forms or meeting with a representative, the Department of Revenue is reminding taxpayers to visit the agency’s Main Office location at 300A Outlet Pointe Boulevard in Columbia.
In December 2012, the Department of Revenue’s Main Office in Columbia opened its doors to the public at its new location on Outlet Pointe Boulevard located off of Bush River Road. Previously, the Department was located in downtown Columbia at 301 Gervais Street.
With additional Taxpayer Assistance Offices located statewide in Charleston, Florence, Greenville, Myrtle Beach and Rock Hill, Department of Revenue personnel are ready to assist individuals Monday through Friday from 8:30 a.m. to 5 p.m.
To find the nearest Taxpayer Assistance Office in your area, contact the Department of Revenue at (803) 898-5000 or visit www.sctax.org.
At the beginning of the year we offered a quick summary of The American Taxpayer Relief Act of 2012. We hope you found it useful even though it was designed as a superficial quick read of the highlights.
For anyone who is interested in more specific details of the Act, I am pleased to announce that a new more comprehensive summary is now available for our clients and friends. Just as it was with the first summary, we are prohibited by contractual obligations from posting the summary on this blog, however we are able to share this new 10 page summary by email with anyone who requests a copy. Simply send an email to:
milton.cooley@ceterafs.com
and we will be happy to share. Or, you may call us directly at 877-439-3514. Be sure to provide us with your contact information, including your email address and you will be added to our weekly mail out which includes the Summary of The American Taxpayer Relief Act of 2012.
WASHINGTON –– In the aftermath of Hurricane Sandy, the Internal Revenue Service announced additional tax relief to affected individuals and businesses. The IRS is further extending tax deadlines of that relief until April 1 for the following localities:
Beyond the relief provided by law to taxpayers in the FEMA-designated counties, the IRS will work with any taxpayer who resides outside the disaster area but whose books, records or tax professional are located in the areas affected by Hurricane Sandy. All workers assisting the relief activities in the covered disaster areas who are affiliated with a recognized government or philanthropic organization are eligible for relief. Taxpayers who live outside of the impacted area and think they may qualify for this relief need to contact the IRS at 866-562-5227.
The IRS also announced today that Taxpayer Assistance Centers in several New York and New Jersey locations will be open additional hours to provide help to taxpayers impacted by Hurricane Sandy. There will also be special assistance available at several New Jersey and New York locations on Saturday, February 23 from 9 a.m. until 2 p.m. More information will be available on irs.gov.
The tax relief postpones various tax filing and payment deadlines that occurred starting in late October. As a result, affected individuals and businesses will have until April 1, 2013, to file these returns and pay any taxes due. This includes the fourth quarter individual estimated tax payment, normally due Jan. 15, 2013. It also includes payroll and excise tax returns and accompanying payments for the third and fourth quarters, normally due on Oct. 31, 2012 and Jan. 31, 2013 respectively, and calendar year corporate income tax returns due March 15. It also applies to tax-exempt organizations required to file Form 990 series returns with an original or extended deadline falling during this period.
The IRS will abate any interest, late-payment or late-filing penalty that would otherwise apply. The IRS automatically provides this relief to any taxpayer located in the disaster area. Taxpayers need not contact the IRS to get this relief.
The tax relief is part of a coordinated federal response to the damage caused by the hurricane and is based on local damage assessments by FEMA. For information on disaster recovery, individuals should visit disasterassistance.gov.
Please feel free to call Tax On Wheels, LLC at 803 732-4288 if you need assistance with this or any other tax issue.
The Internal Revenue Service provides free tax forms and publications on a wide variety of topics – from tax credits for individuals to a tax guide for small businesses.
Here are four easy ways to obtain tax forms and publications from the IRS:
1. On the Internet. You can get IRS forms and instructions quickly and easily by visiting the IRS.gov website 24 hours a day 7 days a week. They often appear online before they are available on paper. To view and download tax products, select “Forms and Pubs.”
2. By Telephone. Call 1-800-TAX-FORM (800-829-3676) Monday through Friday, 7:00 a.m. to 7:00 p.m. local time to order current or prior year forms and instructions or IRS publications. Hours of service in Alaska and Hawaii follow Pacific Time. You will receive your order by mail, usually within 7 to 10 days.
3. In IRS Taxpayer Assistance Centers. There are Taxpayer Assistance Centers located across the country where you can pick up many IRS forms and publications. IRS offices also offer face-to-face help for taxpayers who want personal tax assistance.
To find the Center nearest to you, visit IRS.gov and click on “Help & Resources” and then “Contact Your Local IRS Office.” Select your state for a list of offices, as well as a list of services available at each office. You can also find a Center near you by using the “Office Locator” link, which allows you to search by using your zip code.
4. In Your Community. Many libraries and post offices offer free tax forms during the tax filing season. Some libraries also have copies of commonly requested IRS publications.
You may also obtain official state and federal tax forms and publications by clicking on the “Resources” link at the top of the page.
Tax On Wheels, LLC endeavors to empower consumers with the knowledge and skills to understand and manage their own tax affairs; that’s why we post this information to the web. However, not everyone is built to handle their own tax affairs; that’s why we are here. If after taking a look at those forms you decide that you would rather have some assistance with your tax obligations please give feel free to give us a call at 803 732-4288 to see if we can help you.
But the IRS is not ready!
As we previously alerted you the IRS delayed the start of the tax filing season until January 30 due to late breaking legislation that was recently signed into law. Filing for many of the more complicated tax returns may be delayed until early March.
But Tax On Wheels, LLC is open and ready for business. Go ahead, give us a call and schedule your appointment so you can clear your desk. We will file your tax return as soon as the IRS is ready to accept and process the forms needed for your tax return.
Call us as soon as possible at 803 732-4288 so that you can be sure to get your preferred appointment time.
The American Taxpayer Relief Act of 2012 was recently signed into law. This law will have a significant impact on nearly every American taxpayer. We will be publishing, for our Investment Advisory clients, a summary of key provisions of the law including how the law will impact many taxpayers.
Due to contractual obligations we cannot publish the summary here on this blog. However, we are allowed to email a copies of the summary to anyone who wishes to receive it.
If you would like to receive your very own copy of the tax law summary please send an email to
milton.cooley@ceterafs.com
and request to be added to our weekly email list (you may unsubscribe at anytime with one click but we think you will want to hang around to receive all the timely information provided).
As always, please contact Tax On Wheels, LLC at 803 732-4288 if you have any questions or concerns.
If you make a mistake on your tax return, it can take longer to process, which in turn, may delay your refund. Here are eight common errors to avoid .
1. Incorrect or missing Social Security numbers When entering SSNs for anyone listed on your tax return, be sure to enter them exactly as they appear on the Social Security cards.
2. Incorrect or misspelling of dependent’s last name When entering a dependent’s last name on your tax return, make sure to enter it exactly as it appears on their Social Security card.
3. Filing status errors Choose the correct filing status for your situation. There are five filing statuses: Single, Married Filing Jointly, Married Filing Separately, Head of Household and Qualifying Widow(er) With Dependent Child. See Publication 501, Exemptions, Standard Deduction and Filing Information, to determine the filing status that best fits your situation.
4. Math errors When preparing paper returns, review all math for accuracy. Or file electronically; the software does the math for you!
5. Computation errors Take your time. Many taxpayers make mistakes when figuring their taxable income, withholding and estimated tax payments, Earned Income Tax Credit, Standard Deduction for age 65 or over or blind, the taxable amount of Social Security benefits and the Child and Dependent Care Credit.
6. Incorrect bank account numbers for direct deposit Double check your bank routing and account numbers if you are using direct deposit for your refund.
7. Forgetting to sign and date the return An unsigned tax return is like an unsigned check – it is invalid. Also, both spouses must sign a joint return.
8. Incorrect adjusted gross income If you file electronically, you must sign the return electronically using a Personal Identification Number. To verify your identity, the software will prompt you to enter your AGI from your originally filed 2010 federal income tax return or last year’s PIN if you e-filed. Taxpayers should not use an AGI amount from an amended return, Form 1040X, or a math-error correction made by IRS.
Please feel free to contact Tax On Wheels, LLC if we can assist you with these or any other tax issues.
Links:
• Publication 501, Exemptions, Standard Deductions and Filing Information
Free tax return preparation assistance is available for eligible military members and their spouses. The IRS and U.S. Armed Forces participate in the Volunteer Income Tax Assistance program, which provides free tax advice, tax preparation, return filing and other tax assistance to military members and their families.
Here are five things you need to know about free military tax assistance:
1. Armed Forces Tax Council The Armed Forces Tax Council oversees the operation of the military tax programs worldwide, conducting outreach with the IRS to military personnel and their families. The AFTC consists of tax program coordinators for the Marine Corps, Air Force, Army, Navy and Coast Guard.
2. Volunteer tax sites Volunteer assistors at military-based VITA sites are trained to address military-specific tax issues, such as combat zone tax benefits and the Earned Income Tax Credit guidelines.
3. What to bring To receive free tax assistance, bring the following records to your military VITA site:
4. Joint returns If your filing status is Married Filing Jointly and you wish to file your tax return electronically, both you and your spouse should be present to sign the required forms. If it isn’t possible for both of you to be present, a valid power of attorney that allows tax preparation can be used to sign and file the return.
5. Special exception There is a special exception to using a power of attorney for spouses in combat zones. The exception allows the filing spouse to e-file a joint return with only a written statement stating the other spouse is in a combat zone and unable to sign.
For more information, review IRS Publication 3, Armed Forces’ Tax Guide, available on the IRS Web site at www.irs.gov or order a free copy by calling 800-TAX-FORM (800-829-3676).
Link: