From the IRS NEWSWIRE facts about investment income of children The IRS wants parents to be aware of the tax rules that affect their children?s investment income. The following four facts will help parents determine whether their child?s investment income will be taxed at the parents? rate or the child?s rate. 1. Investment Income Children [...]
Monthly Archives: February 2010
Five Tips for taxpayers moving
The IRS offers five tips for taxpayers who have moved or are about to move. If you?ve changed your home or business address, make sure you update that information with the IRS to ensure you receive any refunds or correspondence from the IRS. 1. How to Change Your Address You can change your address on [...]
How to get Credit for Retirement Savings Contributions
The IRS Newswire Service and the latest info on Retirement Saving Contributions. If you make eligible contributions to an employer-sponsored retirement plan or to an individual retirement arrangement, you may be eligible for a tax credit. Here are six things you need to know about the Retirement Savings Contributions Credit: 1. Income Limits The Savers [...]
Facts About Capital Gains
The IRS Newswire has posted the latest facts about Capital Gains, here is what the Uncle had to say: Have you heard of capital gains and losses? If not, you may want to read up on them because they might have an impact on your tax return. The IRS wants you to know these ten [...]
Gambling Winning Taxable?
Are gambling winnings taxable? Gambling Winnings Are Always Taxable Income Gambling winnings are fully taxable and must be reported on your tax return. Here are the top seven facts the Internal Revenue Service wants you to know about gambling winnings. Gambling income includes ? but is not limited to ? winnings from lotteries, raffles, horse [...]
Taking Early Distributions what you should know
Tips from the IRS NEWSWIRE SERVICE. Fresh Start will always keep you informed regarding all new development regarding important tax issuesissues. Some taxpayers may have needed to take an early distribution from their retirement plan last year. The IRS wants individuals who took an early distribution to know that there can be a tax impact [...]
Facts About Social Security Benefits
Fresh Start Tax like to keep our readers current on any and all news wire item from the IRS regarding relative issues. From today’s news wire, excellent information regarding Social Security If you received Social Security benefits in 2009, you need to know whether or not these benefits are taxable. Here are seven facts the [...]
5 Ways to Offset Education Costs
Fresh Start Tax always wants to keep you posted on the latest updates that are relative to our audience. this blog entry is taken from the NEWSWIRE site from UNCLE. College can be very expensive. To help students and their parents, the IRS offers the following five ways to offset education costs. The American Opportunity [...]
UNEMPLOYMENTS BENEFITS FACTS YOU SHOULD KNOW
IRS WEBSITE HAS COME OUT WITH SOME INFORMATION ABOUT UNEMPLOYMENT BENIFITS. FACT FROM THEIR SITE. Taxpayers who received unemployment benefits in 2009 are entitled to a special tax break when they file their 2009 federal tax returns. This tax break is part of the American Recovery and Reinvestment Act of 2009. Here are five important [...]
Are you missing a W-2 Here is what to do if that is the case.
Getting ready to file your tax return? Make sure you have all your documents before you start. You should receive a Form W-2, Wage and Tax Statement from each of your employers. Employers have until February 1, 2010 to send you a 2009 Form W-2 earnings statement. If you haven?t received your W-2, follow these [...]
