How Do I Make My Quarterly Payments?
Estimated tax is the method used to pay Social Security and Medicare taxes and income tax, because you do not have an employer withholding these taxes for you. Form 1040-ES,…
Read moreHome Mortgage Points
The term “points” is used to describe certain charges paid to obtain a home mortgage. Points are prepaid interest, and may be deductible as home mortgage interest, if you itemize…
Read moreSix Important Facts about Dependents and Exemptions
Some tax rules affect every person who may have to file a federal income tax return – these rules include dependents and exemptions. Here are six important facts the IRS…
Read moreTwo-Year Limit No Longer Applies to Many Innocent Spouse Requests
WASHINGTON — The Internal Revenue Service today announced that it will extend help to more innocent spouses by eliminating the two-year time limit that now applies to certain relief requests.…
Read moreA Qualifying Child with a Disability
To be your qualifying child for EITC, a child must have a valid Social Security Number and pass all the age, relationship, residency and joint return tests. Your child must…
Read moreWhat Disability Benefits Qualify as Earned Income for EITC?
IRS considers disability retirement benefits as earned income until you reach minimum retirement age. Minimum retirement age is the earliest age you could have received a pension or annuity if…
Read moreMembers of the Clergy
If you are a minister or member of a religious order, you may have net earnings from self-employment. Minister’s housing. The rental value of a home or a housing allowance…
Read moreNeed a Copy of Your Tax Return Information?
Requesting transcripts (individuals): You have three easy and convenient options for getting copies of your federal tax return information–tax return transcripts and tax account transcripts–by phone, by mail, or online.…
Read more