Category: Taxation

2015 Pension Plan Limitations

The Internal Revenue Service today announced cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2015. Many of the pension plan limitations will change for 2015 because the...

IRS News Release and Fact Sheet Archive

IRS News Release and Fact Sheet Archive M. SpikEditor 25 years of experience managing tax, accounting, payroll, and employment-related information portals. Editor of Accounting Portal since 2011. Read full bio →   www.accountingportal.com/about-m-spik/

Imputed Interest Calculation

Resources for calculating Imputed Interest: Imputed Interest Calculation – Calculating Imputed or Unstated Interest Under I.R.C. 1274 Investment Income and Expenses IRS Publicaton 550 Applicable imputed income amount. 1. Figure the amount of interest...

EITC

All Workers Claiming the EITC Must: Have a valid Social Security number, Not file as “married filing separate,” Not file Form 2555 or Form 2555-EZ (related to Foreign Earned Income), Meet the investment income...

Free File (Federal Income Tax Return)

What is Free File?  Free File provides free federal tax prep and e-file for taxpayers, either through brand-name software or online fillable forms. This year, you have until April 15, 2014, to file and...

Free File Fillable Forms

Free File Fillable Forms is a FREE forms-based tool enabling you to: Self-select your federal income tax forms and schedules Fill in your tax information online Perform basic mathematical calculations Print your tax return...

Applicable Federal Rates (AFR) 2011

Find latest AFR rates at IRS website RR-2014-06 — APPLICABLE FEDERAL RATES FEB. 2014 RR-2014-01 — APPLICABLE FEDERAL RATES JAN. 2014 RR-2013-26 — APPLICABLE FEDERAL RATES DEC. 2013 RR-2013-22 — APPLICABLE FEDERAL RATES NOV....

Updated IRS Smartphone App IRS2Go Version 4.0

IRS2Go on iTunes IRS2Go on Google play The redesigned IRS2Go provides new features for taxpayers to access the latest information to help them in the preparation of their tax returns. In this version, IRS2Go highlights...

Limited IRS Operations During Goverment Shutdown

Due to the current lapse in appropriations, IRS operations are limited. However, the underlying tax law remains in effect, and all taxpayers should continue to meet their tax obligations as normal. Individuals and businesses...

Form 1099-MISC

File Form 1099-MISC, Miscellaneous Income, for each person to whom you have paid during the year: At least $10 in royalties (see the instructions for box 2) or broker payments in lieu of dividends...

I received a notice related to Form 1099-K

You received one or more of these letters and notices because you may have underreported your gross receipts. This is based on your tax return and Form(s) 1099-K, Payment/Merchant Cards and Third Party Network...