Sunday, April 14, 2013
The Internal Revenue Service says taxpayers who need more time to file don't need to panic.
Can't file your tax returns by the Monday, April 15 deadline? Extensions are available. Those who haven't finished completing their returns can get an automatic six-month extension. The fastest and easiest way to get the extra time, the IRS says, is through this Free File link — use the free service to electronically request an automatic tax-filing extension on Form 4868. Filing this form gives taxpayers until Oct. 15 to file a return and allows individuals to avoid a late-filing penalty. To get the extension, you must estimate your tax liability and also pay any amount due. Can't pay the full amount you owe the government? Click here to find out about setting up payments. Don't miss any news from Woodstock-Towne Lake Patch! Subscribe to…
Sunday, February 17, 2013
The IRS says it's getting high traffic on its online “Where's My Refund?” tool.
The deadline to file 2012 income tax returns isn't until April 15, but taxpayers appear to be filing early and are already asking, "Where's my refund?" “Due to the large number of inquiries and to avoid service disruptions, the IRS strongly urges taxpayers to only check on their refunds once a day,” the IRS said, according to a report by Accounting Today. “IRS systems are only updated once a day, usually overnight, and the same information is available whether on the Internet, IRS2go smartphone app or on IRS toll-free lines. While 'Where's My Refund?' is updated nightly, your account will not change that frequently.” Have you already filed your 2012 tax return? What was your experience? Share your thoughts in the comments below. …
Tuesday, January 15, 2013
It's tax time again in Woodstock. Standard deductions will increase, but the ceiling for itemized deductions decrease in 2013, plus other changes that will affect your taxes this year.
On Friday, the Internal Revenue Service announced annual inflation adjustments for tax year 2013, including the tax rate schedules, and other tax changes from the recently passed American Taxpayer Relief Act of 2012. The tax items for 2013 of greatest interest to most taxpayers include the following changes. Details on these inflation adjustments and others are contained in Revenue Procedure 2013-15, which will be published in Internal Revenue Bulletin 2013-5 on Jan.28, 2013. Other inflation adjusted items were published in October 2012 in Revenue Procedure 2012-41. -News release from the Internal Revenue Service If you have tax questions and need an expert, use the Woodstock-Towne Lake Patch directory to locate a CPA or Tax Service near …
Monday, April 16, 2012
April 17 is the tax filing deadline.
OK, procrastinators. It's your lucky year because you have till Tuesday to get those taxes filed. Because the traditional April 15 Tax Day fell on a Sunday and today is Emancipation Day, a holiday observed in the District of Columbia, you have two extra days to file your 2011 tax returns or apply for an extension. Taxpayers requesting an extension will have until Oct. 15 to file their 2012 tax returns, according to the Internal Revenue Service website. If you are still searching for last-minute assistance, check out the Readers' Choice winners of local tax preparers. The IRS has also provided 10 last-minute tips to help taxpayers still working on their returns: