JK Harris | May 11, 2009
Email and phishing scams are not uncommon on the Internet. Most individuals are aware of what email and phishing scams are, but there are those who don’t have a clue. One way or the other, it is important to be aware of what scams are out there so that you can avoid your personal information [...]
JK Harris | May 5, 2009
By now, you may have noticed a small boost in your take home pay due to President Obama’s “Making Work Pay” tax credit. In the past month, millions of taxpayers have been receiving the credit designed as part of the economic recovery package enacted by Congress in February.
The problem lies in new withholding tables issued [...]
JK Harris | March 26, 2009
Planning what to do in case of a disaster is an important part of being prepared. The Internal Revenue Service encourages taxpayers to safeguard their records. Some simple steps can help taxpayers and businesses protect financial and tax records in case of disasters.
Listed below are tips for individuals and businesses on preparing for a disaster.
Recordkeeping. [...]
JK Harris | February 27, 2009
WASHINGTON –– In response to errors showing up on early tax filings, the Internal Revenue Service today urged taxpayers and tax preparers to make sure they properly determine eligibility for the recovery rebate credit before they file their 2008 federal tax returns.
Some individuals who did not get the economic stimulus payment, and a smaller number [...]
JK Harris | February 25, 2009
The IRS sent taxpayers nearly 119 million economic stimulus payments last year. When filing a 2008 federal tax return, taxpayers will need to know the amount of their stimulus payment to properly determine if they are eligible for a recovery rebate credit.
Here are six tips for finding how much you received and correctly claiming the [...]
JK Harris | February 25, 2009
There are several tax credits and benefits available to qualifying taxpayers with disabilities as well as to the parents of disabled children. Listed below are several tax credits and other benefits available if you or someone else listed on your federal tax return is disabled.
The Earned Income Tax Credit
The EITC is available to disabled taxpayers [...]
JK Harris | February 25, 2009
Did you get your W-2? These documents are essential to filling out most individual tax returns. You should receive a Form W-2, Wage and Tax Statement, from each of your employers each year. Employers have until February 2, 2009 to provide or send you a 2008 W-2 earnings statement either electronically or in paper form. [...]
JK Harris | February 25, 2009
Education tax credits can help offset the costs of higher education for yourself or a dependent. The Hope Credit and the Lifetime Learning Credit are two education credits available which may benefit you. Because they are credits rather than deductions, you may be able to subtract them in full, dollar for dollar, from your federal [...]
JK Harris | February 25, 2009
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.
For example, a married couple both under age 65 generally is not required to file until their joint income reaches $17,900. However, self-employed individuals generally must file [...]
JK Harris | February 25, 2009
While most income you receive is generally considered taxable, there are some situations when certain types of income are partially taxed or not taxed at all.
Some common examples of items that are not included in your income are:
Adoption Expense Reimbursements for qualifying expenses
Child support payments
Gifts, bequests and inheritances
Workers’ compensation benefits
Meals and Lodging for the convenience [...]