Wednesday, February 6, 2013
Student volunteers must have successfully completed an upper-level taxation course and two January training courses. Students are equipped to handle New Jersey and Pennsylvania resident returns.
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Wednesday, February 6
Editor's Note: The following is a news release issued by Rider University. During the months of February and March, Rider University accounting students will offer free tax help through the Internal Revenue Services' Volunteer Income Tax Assistance (VITA) Program for low to moderate income individuals and senior citizens. Sessions will be held on the Lawrence Township campus on: Tuesdays, 6 to 9 p.m. Bart Luedeke Center, Room 14 (next to the bookstore) Thursdays, 11:30 a.m. to 2:30 p.m. North Hall, Room 204 Saturdays, 12:30 to 3:30 p.m. Bart Luedeke Center, Room 14 (next to the bookstore) Saturday, March 9, 12:30 to 3:30 p.m. North Hall, Room 204 Donald Shaw, adjunct professor of accounting, coordinates the volunteer effort. Student …
Saturday, September 22, 2012
Last year nearly 99,000 community volunteers helped prepare over 3.3 million tax returns for free at more than 13,000 locations nationwide, according to the IRS.
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Saturday, September 22, 2012
Editor's Note: The following is a news release issued by the Internal Revenue Service. The Internal Revenue Service is seeking community volunteers to provide free tax help to qualified individuals during the tax filing season. Managed by the IRS, the Volunteer Income Tax Assistance (VITA) and the Tax Counseling for the Elderly (TCE) programs are community based partnerships that provide free tax return preparation for low-to-moderate income taxpayers, seniors, people with disabilities and those with limited English skills. If you are looking for a way to help in your community, then consider becoming a tax volunteer. People helping people - it's that simple. Here are 10 things the IRS wants you to know about becoming a community volunteer…
Wednesday, September 12, 2012
Gambling winnings are fully taxable and must be reported on your income tax return. You can also deduct your gambling losses, but only up to the extent of your winnings.
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Wednesday, September 12, 2012
Editor's Note: The following is a news release issued by the Internal Revenue Service. Whether you roll the dice, bet on the ponies, play cards or enjoy slot machines, you should know that as a casual gambler, your gambling winnings are fully taxable and must be reported on your income tax return. You can also deduct your gambling losses…but only up to the extent of your winnings. Here are five important tips about gambling and taxes: 1. Gambling income includes, but is not limited to, winnings from lotteries, raffles, horse races, and casinos. It includes cash winnings and the fair market value of prizes such as cars and trips. 2. If you receive a certain amount of gambling winnings or if you have any winnings that are subject …
Friday, September 7, 2012
The IRS offers information about the American Opportunity Credit, Lifetime Learning Credit, and student loan interest deduction.
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Friday, September 7, 2012
Editor's Note: The following is a news release issued by the Internal Revenue Service. Whether you’re a recent high school graduate going to college for the first time or a returning student, it will soon be time to head to campus, and payment deadlines for tuition and other fees are not far behind. The IRS offers some tips about education tax benefits that can help offset some college costs for students and parents. Typically, these benefits apply to you, your spouse or a dependent for whom you claim an exemption on your tax return. American Opportunity Credit This credit, originally created under the American Recovery and Reinvestment Act, is still available for 2012. The credit can be up to $2,500 per eligible student and is …
Wednesday, September 5, 2012
Many people anxiously wait for their tax refunds to make major purchases or pay their financial obligations. The IRS encourages taxpayers not to tie major financial decisions to the receipt of their tax refund.
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Wednesday, September 5, 2012
Editor's Note: The following is a news release issued by the Internal Revenue Service. The Internal Revenue Service reminds taxpayers that it's not too late to adjust their 2012 tax withholding to avoid big tax refunds or tax bills when they file their tax return next year. Taxpayers should act soon to adjust their tax withholding to bring the taxes they must pay closer to what they actually owe and put more money in their pocket right now. Most people have taxes withheld from each paycheck or pay taxes on a quarterly basis through estimated tax payments. Each year millions of American workers have far more taxes withheld from their pay than is required. Many people anxiously wait for their tax refunds to make major purchases or pay their …
Tuesday, September 4, 2012
IRS notices may request payment of taxes, notify you of a change to your account or request additional information. The notice you receive normally covers a very specific issue about your account or tax return.
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Tuesday, September 4, 2012
Editor's Note: The following is a news release issued by the Internal Revenue Service. Receiving a notice from the Internal Revenue Service is no cause for alarm. Every year the IRS sends millions of letters and notices to taxpayers. In the event one shows up in your mailbox, here are eight things you should know. 1. Don’t panic. Many of these letters can be dealt with very simply. 2. There are a number of reasons the IRS sends notices to taxpayers. The notice may request payment of taxes, notify you of a change to your account or request additional information. The notice you receive normally covers a very specific issue about your account or tax return. 3. Each letter and notice offers specific instructions on what you …
Thursday, August 30, 2012
Contributing money and property are ways that you can support a charitable cause, but in order for your donation to be tax-deductible, certain conditions must be met.
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Thursday, August 30, 2012
Editor's Note: The following is a news release issued by the Internal Revenue Service. Contributing money and property are ways that you can support a charitable cause, but in order for your donation to be tax-deductible, certain conditions must be met. Read on for six things the IRS wants taxpayers to know about deductibility of donations. 1. Tax-exempt status. Contributions must be made to qualified charitable organizations to be deductible. Ask the charity about its tax-exempt status, or look for it on IRS.gov in the Exempt Organizations Select Check, an online search tool that allows users to select an exempt organization and check certain information about its federal tax status as well as information about tax forms an …
Monday, August 27, 2012
Taxpayers should keep copies of their tax returns, but if they cannot be located or have been destroyed during natural disasters or by fire, the IRS can help.
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Monday, August 27, 2012
Editor's Note: The following is a news release issued by the Internal Revenue Service. Taxpayers should keep copies of their tax returns, but if they cannot be located or have been destroyed during natural disasters or by fire, the IRS can help. Whether you need your prior year’s tax return to apply for a loan or for legal reasons, you can obtain copies or transcripts from the IRS. Here are 10 things to know if you need federal tax return information from a previously filed tax return. 1. Get copies of your federal tax return via the web, phone or by mail. 2. Transcripts are free and are available for the current and past three tax years. 3. A tax return transcript shows most line items from your tax return as it was …
Friday, August 24, 2012
The IRS offers eight tips for newlyweds.
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Friday, August 24, 2012
Editor's Note: The following is a news release issued by the Internal Revenue Service. If you’ve recently updated your status from single to married, you’re not alone – late spring and summertime is a popular period for weddings. Marriage also brings about some changes with your taxes. Here are several tips for newlyweds from the IRS. Notify the Social Security Administration: It’s important that your name and Social Security number match on your next tax return, so if you’ve taken on a new name, report the change to the Social Security Administration. File Form SS-5, Application for a Social Security Card. The form is available on SSA’s website at www.ssa.gov, by calling 800-772-1213, or visiting a local SSA office. Notify the IRS if you…
Thursday, August 23, 2012
By using the IRS Data Retrieval Tool, applicants can automatically transfer required tax data from their federal tax returns directly to their Free Application for Federal Student Aid (FAFSA) form.
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Thursday, August 23, 2012
Editor's Note: The following is a news release issued by the Internal Revenue Service. College-bound students and their parents sometimes face last minute requests to complete or provide additional information for financial aid applications. The Internal Revenue Service wants to help by minimizing time spent on the completion of the Department of Education’s Free Application for Federal Student Aid (FAFSA). By using the IRS Data Retrieval Tool, applicants can automatically transfer required tax data from their federal tax returns directly to their FAFSA form. This IRS tool is a free, easy and secure way to access and transfer tax return information onto the FAFSA form. Using the tool saves time, improves accuracy and may reduce the …
