Taxpayers who claim itemized deductions will be able to file their federal tax returns starting Feb. 14, the IRS said Thursday. While the tax-filing season began on Jan. 4, the IRS announced last year that taxpayers who itemize — which includes just about everyone who has a mortgage — would have to wait until at [...]
Taxpayers will get an extra weekend to wrestle with their tax return this year. The tax-filing deadline is Monday, April 18, thanks to the Emancipation Day holiday celebrated on April 15 in the District of Columbia, the Internal Revenue Service said Tuesday. Holidays celebrated in Washington have the same effect as federal holidays on the [...]
Tax collections are surpassing projections, the clearest sign yet that state and local government finances are on the mend as the economy improves. Sharp rises in tax collections since July, especially in the last three months, have boosted tax revenues to levels not seen since 2008, a review of tax reports shows. Including federal aid, [...]
The federal government is offering financial incentives for eco-friendly home improvements. The Wall Street Journal discusses a few options to collect your green tax credits: Upgrade your insulation, windows, doors, roofing, heating and air-conditioning system or water heater, and you could qualify for a federal tax credit for 30% of the purchase price of the [...]
For the first time in at least a quarter century, Delaware is sympathizing with cash-strapped residents by giving delinquent taxpayers the chance to fess up and pay up without facing penalties. Officials hope to drum up an estimated $10 million in revenue that may otherwise be lost. Now through October 30th, individuals and business will [...]
Despite Obama’s repeated statement during his campaign, that 95% of Americans would not see a tax hike, Treasury Secretary Timothy Geithner and National Economic Council Director Larry Summers said middle-class taxes may need to increase in order to bridge the budget deficit and pay for the proposed health care bill, which is expected to cost about [...]
In order to bridge the budget gap, states are doing anything they can to generate a little extra. Beginning tomorrow, it will cost us more to buy liquor and wine in NJ- the state will raise the tax per gallon of wine and spirits to 25%, so we’ll pay $5.50 in tax per gallon of [...]
Records show that about 2,000 Philadelphia city employees and their spouses owe $5 million in past due property taxes. By August 10th, the Department of Revenue will have completed a database detailing the amount of money owed by every tax-delinquent city worker. Workers will then receive letters informing them that they have 30 days to either [...]
Did you know that some homeowners are saving thousands in property taxes? You may be thinking…how is that possible? Here’s how: housing values have dropped but many people are still paying taxes based on the higher value of their home. Now property owners are requesting re-assessments—and paying property taxes based on the current value of [...]
We’ve been hearing it for months: declining property values- that means your home could be worth a lot less, but you could be getting a tax bill that’s way too high. Many people don’t realize that there is a solution- you can file an appeal and get your property reassessed. There are two types of [...]
