An expanded Earned Income Tax Credit (EITC) means larger families will qualify for a larger credit, offering greater relief for people who struggled through difficult financial times last year, the Internal Revenue Service said today.
Filing Season Opens on Time Except for Certain Taxpayers Potentially Affected by AMT Patch WASHINGTON — The Internal Revenue Service announced today that the upcoming tax season is expected to start on time for everyone except certain taxpayers potentially affected by late enactment of the Alternative Minimum Tax “patch.” Following extensive work in recent weeks,… Read More »
Over 3 million refunds will be delayed until february due to congress’ late fix to the AMT bill, according to the IRS late thursday. “We regret the inconvenience the delay will mean for million of early tax filers, especially those expecting a refund,” acting IRS Commissioner Linda Stiff said. Will my refund be delayed? The… Read More »
WASHINGTON – President Bush on Monday pushed Congress to pass a one-year fix to the alternative minimum tax, which threatens to hit 23 million federal tax filers, warning that failure to do so could delay tax refunds next year. The alternative minimum tax, or AMT, is calculated alongside the income tax, with the taxpayer paying… Read More »
How to efile taxes online? Step 1 – Get all your tax information together! – You’ll save time and won’t have to stop in the middle of preparing your current year tax return to find a missing document. Here is what you will need to eFile a Tax Return Online with the IRS using online… Read More »