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2013 Tax Tips; Vol. 1


MANY MISTAKES FOR SELF-FILERS DUE TO COMPLEX TAX CODE

Too intimidated to fill out your tax return without help? Join the club.  At nearly 4 million words, the U.S. tax law is so thick and complicated that businesses and individuals spend more than 6 billion hours a year complying with filing requirements, according to a report Wednesday by an independent government watchdog…. Continue reading

IRS DELAYS ACCEPTING RETURNS UNTIL JAN. 30TH

The IRS plans to begin processing 2012 tax returns January 30, 2013, it has announced. With the massive fiscal cliff tax bill enacted January 2 that is mostly retroactive, the IRS has its work cut out for it. There are forms and instructions to revise, not to mention computers to retool. While the… Continue reading 

FISCAL CLIFF OR NOT WORKERS WILL FEEL IMMEDIATE PINCH

Much has been debated about how long it will take for taxpayers to feel the affects of going over the Fiscal Cliff.  Yes, income tax rates could go up or down or popular deductions and credits limited or eliminated all together.  While these scenarios could take months or years to feel, the average worker is…Continue reading

TAX PROVISIONS EXTENDED BY FISCAL CLIFF DEAL

Late on January 1, 2013, Congress passed HR 8 (Tax Relief Extension Act) which extended almost all of the Federal tax provisions that had expired at the end of 2011 and 2012. Although the Tax Relief Extension Act contains many individual, business, and energy tax provisions that were extended or modified, the following are the… Continue reading



Looking for additional resources?

Visit these sections of our blog for additional reading and tax resources: The True Cost of Doing Your Own Taxes

 

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