The Internal Revenue Service has reminded truckers and other owners of heavy highway vehicles that in most cases, their next federal highway use tax return is due on Tuesday, Sept. 3, 2013. This year’s Sept. 3 due date, pushed back three days because the normal Aug. 31 deadline falls on a Saturday, generally applies to Form [...]
The Internal Revenue Service announced the opening of a new online registration system for financial institutions that need to register with the IRS under the Foreign Account Tax Compliance Act (FATCA). Financial institutions that must register with the IRS to meet their FATCA obligations can now begin the process of registering by creating an account [...]
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 [...]
Following a review of internal procedures to reduce the backlog of tax-exempt applications, the IRS is offering certain organizations that have applied for 501(c)(4) status a faster, optional method to gain tax-exempt status. The IRS will start mailing about 80 letters this week offering the expedited option to groups that have had their applications pending [...]
IRS Website Explains Tax Provisions of the Health Care Law; Provides Guide to Online Resources 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 [...]
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 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.[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]
The Internal Revenue Service today announced the availability of Statistics of Income—2011, Individual Income Tax Returns (Publication 1304), on irs.gov/taxstats. U.S. taxpayers filed 145.4 million individual income tax returns for tax year 2011. This was up 1.7 percent from 2010. Also in tax year 2011, the adjusted gross income less deficit reported on those returns [...]
The Internal Revenue Service today announced it will be open on Friday, Aug. 30, following the postponement of its fifth scheduled agency-wide employee furlough day. "We have made substantial progress in cutting costs. … Our progress is such that we have decided to postpone the furlough day scheduled for Aug. 30. We [...]
If you make a work-related move this summer, you may be able to deduct the costs of the move. This may apply if you move to start a new job or to work at the same job in a new job location. The IRS offers the following tips on moving expenses you may be able [...]