Most taxpayers will be able to submit their returns beginning January 14th when Electronic Filing begins.  However, if you fall into any of these three categories your filing will be delayed and your tax return will not be accepted until Mid to Late February. Taxpayers will need to wait to file if they are within… Continue reading

For those who are employed or paid on W2 the new Payroll Tax Cut will increase take home pay for the coming year, 2011.  This is because the social security tax is being reduced by 2 points. •Payroll tax cut. For 2011, Social Security taxes will drop to 4.2% from 6.2%. If you have a… Continue reading

Congress was finally able to come to an agreement regarding the tax cuts that were set to expire at the end of this year.  They have passed a bill that will effect all income levels.   The bill will basically keep the Bush era tax cuts and allow for a few other tax saving provisions. … Continue reading

If a return is filed with the wrong address or a taxpayer moves after filing for their refund, the check is returned to the IRS and held there until someone claims it.  This year 9,662 New Yorkers checks have been sent back to the IRS as undeliverable.  Of these checks there are over 1,000 owed… Continue reading

Democrats were pushing to extend Bush’s Tax Cuts for those taxpayers who make an amount equal to or less than $250,000 for married or $200,000 for single.  However, Republicans were looking to extend the tax cuts for all income levels, keeping the original tax cuts in place. White House officials and Congressional Republicans said Sunday… Continue reading

When planning a wedding, the last thing on your mind, is Income Taxes.  However if you get married by the 31st of December you are treated as married for the entire year.  Your filing status can have a large effect on your taxes so keep that in mind when planning. If you’re married at year-end,… Continue reading