Today is the deadline for filing the tax return for tax year 2010. Because the Emancipation Day, which is a holiday observed in the District of  Columbia, was observed on Friday, April 15, 2011, the IRS extended the due date to today for taxpayers to file their 2010 returns and pay taxes. By law, D.C. holidays impact tax deadlines in the same way that federal holidays do. The … [Read more...] about The Tax Year 2010 Deadline is Today – 6 Useful Tax Articles To Help You Get Through
Tax News and Updates
American Opportunity Credit: Why It’s Called The Expanded Hope Credit
The American Opportunity Credit was created under the Economic Recovery Act that President Obama signed a couple of years ago. Initially, it is only good for tax years 2009 and 2010 but with the recent tax law changes, this educational credit has been extended to tax years 2011 and 2012. This means additional money for parents of college student  or college students … [Read more...] about American Opportunity Credit: Why It’s Called The Expanded Hope Credit
$1.1 Billion Tax Refunds Expiring Soon! Are You One Those Who Have Not Claimed It?
Did you know that $1.1 billion unclaimed tax refunds are about to expire soon? The IRS just recently announced that these refunds are expiring on this year's tax deadline, which is April 18, 2011. The law requires that the return be properly addressed, mailed and postmarked by that date. If you are one of those people who have not filed your 2007 tax return yet and you expect … [Read more...] about $1.1 Billion Tax Refunds Expiring Soon! Are You One Those Who Have Not Claimed It?
Claiming The Making Work Pay Credit On Your 2010 Tax Return
As part of the American Recovery Reinvestment Act, the IRS offered a special tax credit for tax year 2009 and 2010 allowing taxpayers to receive additional refund. Married Filing Joint (MFJ) taxpayers can receive as much as $800 while the rest of the filers can receive as much as $400. The credit equals 6.2 percent of earned income up to the maximum amount. Thus, any eligible … [Read more...] about Claiming The Making Work Pay Credit On Your 2010 Tax Return
Important Tax Update for 2010 You Don’t Want To Miss
On my last post, I talked about the various 2009 tax benefits that were expanded in 2010. Some of these tax benefits have been extended and there are quite a few that were no longer valid for 2010. However, Congress have passed new tax provisions that have expanded additional tax benefits for the American people for tax year 2010. Three Extra Days to File and Pay Because … [Read more...] about Important Tax Update for 2010 You Don’t Want To Miss