If you file your tax returns electronically using software to file online, you must sign the tax return using the method of self-signed personal identification number ( PIN).This method allows taxpayers to electronically sign your tax on personal income by selecting a PIN five digits. Using PIN to file Tax The PIN consists of five digits (excluding all zeros)… Read More »
Innocent Spouse Relief (Including separation of liability and equitable relief) Many married taxpayers choose to file a joint income tax return because of certain benefits this filing status provides the taxpayer. However, by filing a joint return, both taxpayers are jointly and severally liable for such taxes and any tax, interest or additional penalties resulting… Read More »
If you owe more taxes you can pay your taxes, do not panic. Be sure to file on time. Thus avoid the penalty for filing late taxes and will save you much trouble in the future. Here’s what to do if you can not pay all your taxes before the deadline. File your return… Read More »
What should a taxpayer do if they do not receive a W2 from their employer? The W-2 is necessary to file taxes if a taxpayer has earned wages. This form shows the amount of wages received during the year and the taxes withheld from their wages. It is important that you use this… Read More »
Claiming Dependent Parent Deduction Most of the time people think of only children being considered dependents when they file their tax returns. However, there is a possibility that you can claim an elderly parent that you take care of as a dependent on your tax return if certain tests are met. Standard deduction for… Read More »
Dependency tests… you need to pass all 3 of them in order to be a dependent. These are from your parents point of view. What are the Dependency Tests? Joint Return Test You generally cannot claim a married person as a dependent if he or she files a joint return. Exceptions in Pub 501… Read More »
To file your 2009 individual tax return, you’ll have to decide which form to use…unless you e-file. If you file electronically, the software automatically selects the simplest and best form for you. Whether you use e-file or prepare on paper, using the simplest form will help avoid costly errors or processing delays.