When Are Taxes Due? IRS Tax Filing Deadlines for 2013, 2014 & 2015 Returns

In IRS lingo, individual income tax returns are due on the 15th day of the 4th month after the end of your tax year. For individuals whose tax years begin January 1st and end December 31st, this means their returns are due on April 15th (the 15th day of the 4th month after December 31st). […]

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Do You Have to Send 1099s to LLCs?

Today a corporate client asked me this question, and I honestly didn’t know for sure off the top of my head.  Wondering if anyone out there has the quick answer?  First person to direct me to the appropriate (official) IRS guidance wins!  ;=)

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Earliest Date to File 2012 Tax Returns

Every year, millions of taxpayers await news from the IRS about the first day they can file tax returns. You can usually file returns as early as mid-January each year, but last-minute legislative action can extend that date a bit further. The recent tax law changes put into effect by the American Taxpayer Relief Act […]

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Social Security Tax Credit? No Such Thing

Today, as I was reviewing my blog statistics, I noticed that several people found my blog by typing in the term “Social Security Tax Credit.” As far as I know, I don’t believe there is such a thing as a Social Security Tax Credit. I apologize up front if you found this post because you […]

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2013 Federal Income Tax Rates

Recently, Americans have been put through a see-saw of news related to 2013 federal income tax rates. As the fiscal cliff approached and the United States was looking at the expiration of Bush era tax cuts, the fate of tax year 2013 federal income tax rates teeter-tottered between a low of 10%-15% to a high […]

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2012 IRS Tax Tables – Federal Income Tax Brackets for Filing in 2013

As we just celebrated New Year’s 2013 and a round of fiscal cliff battles is behind us, the country’s financial focus is shifting to tax season. I know I’m not the only one itching to file my tax return and get a refund of the hard-earned money I overpaid to the government! As we get […]

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Do I Have to File Taxes? What If I’m Unemployed, Retired, or Don’t Owe Anything?

In a nutshell, you have to file taxes if your income exceeds a certain threshold each year.  The exact amount differs with age and type of income; filing status also plays a part. How to Tell if You Must File a Tax Return The instructions for Forms 1040, 1040-A, and 1040-EZ explain who must file […]

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What Tax Rate is Fair? A Monday Questionnaire

Earlier this month, I posed a question to readers – Should Everyone Pay Some Federal Income Taxes?  This post received the most comments of any post to date, so I think I’m on to something here. With the 2012 election looming right around the corner, tax issues are at the forefront.  Every debate mentions the […]

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2013 Tax Changes on the Horizon if the Bush Tax Cuts Aren’t Extended

Back in the early 2000s, President George W. Bush signed into law two pieces of legislation containing provisions now known as the “Bush Tax Cuts.” The Bush Tax Cuts affected all Americans, as they contained tax breaks such as lower individual income tax rates, tax benefits for parents, and marriage penalty relief. They also brought […]

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President Obama’s 2011 Tax Return

I suppose only a true tax nerd like myself thinks tax returns make good non-fiction reading.  ;D  It’s particularly interesting to me to see where President Obama derived his 2011 income and what he did with it once he had it. I went page by page through President Obama’s return because I wanted to learn […]

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