In 2011, personal exemptions and standard deductions will rise and tax brackets will widen due to inflation. These inflation adjustments relate to eight tax provisions that were either modified or extended by the Tax Relief, Unemployment Insurance Re-authorization and Job Creation Act of 2010 that became law on Dec. 17. New dollar amounts affecting 2011 [...]
Posts tagged income tax credit
Do I have to File a Tax Return?
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. Check the Individuals section of IRS.gov or consult the instructions for Form 1040, 1040A, [...]
Making Work Pay tax credit
April 1st was implementation day for the Making Work Pay tax credit, and it wasn’t an April Fool’s joke. The American Recovery and Reinvestment Act of 2009 (ARRA), Congress’ most recent effort to “stimulate” our economy, contains this new tax credit, which will affect everyone when filing your individual return. You may be able to [...]


















