How to Track your Refund

Posted on: 28 Feb, 2013

  About “Where’s My Refund?” What information is Available on Where’s My Refund? Refund information for the most current tax year that you filed will generally be available 72 hours after we acknowledge receipt of your e-filed return, or three to four weeks after you mail your paper return. What information is Not Available on Where’s My Refund? •Amended Tax…read more →

Think Employment Law Doesn’t Apply to You? Think Again

Posted on: 21 Feb, 2013

EVIL HR LADY | Suzanne Lucas Feb 4, 2013Think Employment Law Doesn’t Apply to You? Think Again Even small businesses may find themselves subject to employment laws designed to cover big firms. So know the law. Quick quiz: You have 35 employees. One of your junior analysts is pregnant. Do you have to allow her to take 12 weeks off…read more →

What Medical Expenses Are Tax Deductible?

Posted on: 14 Feb, 2013

What Are Medical Expenses? Medical expenses are the costs of diagnosis, cure, mitigation, treatment, or prevention of disease, and the costs for treatments affecting any part or function of the body. These expenses include payments for legal medical services rendered by physicians, surgeons, dentists, and other medical practitioners. They include the costs of equipment, supplies, and diagnostic devices needed for…read more →

Independent Contractor (Self-Employed) or Employee Test?

Posted on: 7 Feb, 2013

Independent Contractor (Self-Employed) or Employee? It is critical that business owners correctly determine whether the individuals providing services are employees or independent contractors. Generally, you must withhold income taxes, withhold and pay Social Security and Medicare taxes, and pay unemployment tax on wages paid to an employee. You do not generally have to withhold or pay any taxes on payments…read more →

IRS To Accept Returns Claiming Education Credits by Mid-February

Posted on: 4 Feb, 2013

IRS To Accept Returns Claiming Education Credits by Mid-February IR-2013-10, Jan. 28, 2013 WASHINGTON — As preparations continue for the Jan. 30 opening of the 2013 filing season for most taxpayers, the Internal Revenue Service announced today that processing of tax returns claiming education credits will begin by the middle of February. Taxpayers using Form 8863, Education Credits, can begin…read more →

National EITC Awareness Day

Posted on: 25 Jan, 2013

TODAY is #National_EITC_Awareness_Day. Join #IRS in spreading the word about #EITC. View More information and to see if you qualify at

Home Office Deduction 2013

Posted on: 16 Jan, 2013

IRS Announces Simplified Option for Claiming Home Office Deduction Starting This Year; Eligible Home-Based Businesses May Deduct up to $1,500; Saves Taxpayers 1.6 Million Hours A Year IR-2013-5, Jan. 15, 2013 WASHINGTON — The Internal Revenue Service today announced a simplified option that many owners of home-based businesses and some home-based workers may use to figure their deductions for the…read more →

IRS Plans Jan. 30 Tax Season Opening For 1040 Filers

Posted on: 11 Jan, 2013

  IRS Plans Jan. 30 Tax Season Opening For 1040 Filers WASHINGTON — Following the January tax law changes made by Congress under the American Taxpayer Relief Act (ATRA), the Internal Revenue Service announced today it plans to open the 2013 filing season and begin processing individual income tax returns on Jan. 30. The IRS will begin accepting tax returns…read more →

Fiscal Cliff

Posted on: 8 Jan, 2013

 1.  Key Provisions Permanent AMT patch. The Act increases the exemption amounts for 2012 to $50,600 (individuals) and $78,750 (married filing jointly) and indexes the exemption and phaseout amounts thereafter. The Act also allows the nonrefundable personal credits against the AMT. The provision is effective for taxable years beginning after December 31, 2011. Permanently extend the 10% bracket. The Act…read more →