The Internal Revenue Service announced that the nation’s tax season will begin Monday, Jan. 23, 2017, and reminded taxpayers claiming certain tax credits to expect a longer wait for refunds. The IRS will begin accepting electronic tax returns that day, with more than 153 million individual tax returns expected to be filed in 2017. …
Warning!! In 2010 Obama signed the Improper Payments Elimination and Recovery Act and then in 2012 he signed the Improper Payments Elimination and Recovery Improvement Act . These Acts have tasked the IRS to get control of rampant fraud taking place among Earned Income Tax Credit filers and preparers. Since its inception individuals have tried …
Beginning in 2014, the individual shared responsibility provision of the Affordable Care Act kicked in requireing each individual to: Maintain a minimum level of health care coverage – known as minimum essential coverage, or Qualify for an exemption, or Make an individual shared responsibility payment when filing their federal income tax returns. Minimum essential coverage …
Understanding The Obama Care Individual Shared Responsibility Payments? Read More »
In 2014 Obamas Affordable Health Care Act kicks in and will affect millions of individual Americans. You need to understand your “shared responsibility payments” and your exemptions. We will be covering these issues in our 3 part series on Obama Care. In Part 1 we are giving a general overview of these two primary issues …
Our military is one of the finest in the world. They put themselves into harm’s way every day fighting for what they believe is for the best interest of our nation. These brave men and women deserve and receive special tax benefits. Below are 10 special tax benefits that apply to all members of the …
10 Special Tax Benefits for Members of the Armed Forces Read More »
Do you plan to donate your services to charity this summer? Will you travel as part of the service? If so, some travel expenses may help lower your taxes when you file your tax return next year. Here are five tax tips you should know if you travel while giving your services to charity. 1. You …
The tax filing season is almost ove and in the rush to get your taxes prepared before April 15 mistakes can be made that could trigger an audit. These 10 tips will help you save time and help to protect you in the event of an IRS audit: 1. Gather your records. Collect all tax records …
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Obama Care has within it numerous different taxes. However everyone one is not affected the same. Let's take a look at how Obama Care's taxes affect certain income groups. Obama Care (Affordable Health care Act) Taxes for High Earners and Large Businesses Most of the new taxes are on what on so called high end …
Are You Affected By Obama Care AKA The Affordable Health Care Act? Read More »
