The Missouri "taxguy"

Federal taxes, tax preparation, and your personal finances – Guest Authors are welcome.

Test Your Faxing IQ this Tax Season

Mar 5

Posted by Bruce Mc in History, Information, Things forgotten | No Comments

Like quizes? humm. How about a quest post desigened like a quiz?

By Steve Adams 

            Before email and filing tax returns online, there was the fax. At one time it was THE way to transmit important documents (such as W-2 statements and real estate tax information) quickly from one location to another.

            While it’s normal to think that faxing has gone the way of the typewriter, it’s still a big part of the accounting world, and even the preferred method of document transfer in some cases.

Click to continue reading “Test Your Faxing IQ this Tax Season”

Tags: accounting, Business, document transfer, fax machine, faxing, Internet fax, privacy laws

Do I have to File a Tax Return?

Feb 17

Posted by Bruce Mc in Form 1040 Information, Information, Tax Preparation | No Comments

IRS Tax Tip 2010-17

Do I have to File a Tax Return? 

You must file a tax return if your income is above a certain level. The amount varies depending on filing status, age and the type of income you receive.

Click to continue reading “Do I have to File a Tax Return?”

Tags: EITC, Income tax, income tax credit, Information, maximum credit, refundable tax credit, tax refund, tax tip, Taxation in the United States

Do You Qualify for the EIC

Feb 12

Posted by Bruce Mc in Credits, Exemptions, Filling Status, Form 1040 Information, Information | No Comments

IRS TAX TIP 2010-22

They are really going after those who file for this credit and do not qualify. Make sure you really are eligable. Start by reading this IRS tax tip.

 

Click to continue reading “Do You Qualify for the EIC”

Tags: earned income tax credit, EIC, EITC, eligible taxpayers, Filing Status, schedule eic, tax tip

IRS TAX TIP 2010-19

Feb 10

Posted by Bruce Mc in Information, Tax Preparation, e file | No Comments

Get Your Refund Faster – Choose Direct Deposit 

If you want to get your refund as quickly as possible, just tell the IRS to deposit your refund directly into your bank account. By choosing Direct Deposit, you can get your refund much sooner than if you chose to have a paper check mailed to you.

Here are the main reasons 73 million taxpayers chose Direct Deposit in 2009:

Click to continue reading “IRS TAX TIP 2010-19″

Tags: direct deposit, e file, form 8888, Information

IRS info on EIC

Feb 8

Posted by Bruce Mc in Exemptions, Filling Status, Information, Tax Preparation | No Comments

IRS Marks EITC Awareness Day; Highlights Expanded Tax Credit

WASHINGTON — 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.

The IRS and the Treasury Department marked EITC Awareness Day as their partners nationwide worked to highlight the availability of this important tax credit. EITC, which is in its thirty-fifth year, is one of the federal government’s largest benefit programs for working families and individuals. Last year, nearly 24 million people received $50 Billion in benefits. The average credit was more than $2,000.

Click to continue reading “IRS info on EIC”

Tags: Deductions, earned income tax, earned income tax credit, earned income tax credit eitc, Information

A Certified Public Accountant has been suspended by the IRS

Feb 5

Posted by Bruce Mc in Information, News Flash | No Comments

           OMG could it be so? What is the world coming to, someone with the backing of the IRS, with all the testing needed to “count beans” has been suspended from practice before the IRS. Humm, does this mean they are not sure non-CPA tax return prepares are faulty and they are the only ones doing things a bit shady? Is it going to come out that those with presumed earned credentials are the ones who might be the shadiest?

 Naw this was just an isolated incident.  We won’t need to subject them to regular testing and IRS guided CPE.

 Right?

Click to continue reading “A Certified Public Accountant has been suspended by the IRS”

Tags: Certified Public Accountant, CPA, false tax returns, loeser, Office of Professional Responsibility, Robert A. Loeser, tax practitioner, Tax professional

Avoiding Refund Delays

Feb 3

Posted by Bruce Mc in Credits, Information, Stimulus payments, Tax Preparation | No Comments

The IRS has provided this very important information. Please note this is directly from:

 IRS Tax Tip 2010-21

Five Tips for Avoiding Refund Delays Relating to Your Economic Recovery Payment  

Click to continue reading “Avoiding Refund Delays”

Tags: American Recovery and Reinvestment Act of 2009, Credits, Economic Recovery Payment, important information, Making Work Pay, tax credit

IRS on Publication 17

Jan 27

Posted by Bruce Mc in Form 1040 Information, Information, Tax Preparation, Things forgotten | No Comments

Five Facts about IRS Publication 17 

While the Internal Revenue Service provides publications about a wide range of topics, there is one publication every taxpayer should have with them when they are preparing their federal tax return. Publication 17, Your Federal Income Tax is available at IRS.gov and contains a wealth of information for individual taxpayers.

Here are the top five things the IRS wants you to know about Publication 17 and how it will come in handy when you prepare your taxes.

Click to continue reading “IRS on Publication 17″

Tags: Income tax, Information, internal revenue service, irs publication 17, publication 17, tax filing, tax law changes, tax publication, tax return

You Should Know about the Making Work Pay Tax Credit

Jan 22

Posted by Bruce Mc in Information, Things forgotten | No Comments

 From IRS – Issue Number:    IRS Tax Tip 2010-15 

Ten Things You Should Know about the Making Work Pay Tax Credit 

Many working taxpayers are eligible for the Making Work Pay Tax Credit, a provision created by the American Recovery and Reinvestment Act in early 2009.

Click to continue reading “You Should Know about the Making Work Pay Tax Credit”

Tags: Information, Things forgotten

IRS TAX TIP 2010-06

Jan 15

Posted by Bruce Mc in Uncategorized | No Comments

I have and will continue to post extensively on choosing a Tax pro. I am hopful everyone uses cation when doing so. If you haven’t read my post (several indivdual and a few series of. . .) please do so, for you. The IRS puts this out every year but not to the extent that your tax bloggers do.

Get started here, then please serch my blog and the web for what is being said on this.

Eight Tips to Help You Choose a Tax Preparer

Click to continue reading “IRS TAX TIP 2010-06″

Tags: code of ethics, continuing education, Preparer, professional organization, Tax Preparation, Tax preparer, tax preparers, Tax professional

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