Tag Archives: february

Processing of Tax Returns to Begin on January 30

Processing of Tax Returns

Earlier this week, the US Internal Revenue Service (IRS) announced that electronic filing of tax payments for the year 2013 will commence on January 30.  As a result, individual income tax returns will not be processed before then.

Electronic tax filing had been originally scheduled to begin on January 22. The nine-day extension is a result of the changes in tax law which took effect on January 1. The American Taxpayer Relief Act (ATRA) was the result of the “fiscal cliff” tie between the president and the house.

IRS Form W-2

IRS Form W-2 (Photo credit: Wikipedia)

The IRS is getting set for the year’s activities by upgrading its systems to suit the new tax payment procedure. IRS is now updating their forms and setting new programs to make this successful. According to the IRS, the updates should be ready to serve Americans from January 30. Other documents for treating cases such as residential energy credit claims, general business credits and depreciation of property will be available towards the end of February when their updates should be completed.

The acting commissioner of IRS, Steven T. Miller further reassured the public that this year’s tax electronic filing will soon kick off. The shift in date is to make sure that everything is properly done.

This year, IRS hopes to process all tax returns electronically. Last year, they processed more than 80% tax returns electronically. Even the paper type will not begin until after January 29.

Miller concluded by saying that electronic filling of tax returns is the most convenient for tax payers.

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Tax Carnival Ecstasy – February 7, 2012

Welcome to the February 7, 2012 edition of Tax Carnival Ecstasy. In this issue we have an article by Gregory Stokes on not Missing The Tax Credits Income Deadline. Mark Roberts takes a look at How To Choose The Right Filing Status. Plus there’s a post on  Making 401k Withdrawals by Roger White. Hope you enjoy the articles, share, bookmark, tweet, like on Facebook, and come back real soon.

DeWitt Dudley presents My Mom Is Dying: What Should I Do About Estate Tax? | Law Offices of Givner & Kaye posted at Law Offices of Givner & Kaye, saying, “We get the call all too often: “My mom (or dad) is dying: what should I do?” Of course, if they are calling us, what they really mean is “what should I do to reduce the potential estate tax?””

credits

Gregory Stokes presents Don’t Miss The Tax Credits Income Deadline posted atTax Credit Calculator, saying, “The deadline for income tax credits is January 31st. If you don’t provide your actual income figure by this time you could get the wrong amount of tax credits and have to pay a penalty.”

filing

Mark Roberts presents How To Choose The Right Filing Status posted at Tax Brackets, saying, “This blog post looks at how to choose the correct filing status for your situation.”

tax law

M K Karn presents House Rent Allowance – Income Tax Provisions posted at Central Government Employee News & Tools, saying, “Indian Tax Law”

Steve presents Four Structured Settlement Questions and Answers – 2008 Taxes – Free Tax Filing Options posted at 2008 Taxes, saying, “If you have recently come into a large sum of money, you may want to think about setting up a structured settlement instead of receiving a lump sum.”

taxes

Jessica Bird presents Taxing Your Car posted at CarTaxBands.org, saying, “If you need to pay tax on your car, this blog post will outline three important documents that you will need.”

Steve presents Options for Investing for Your Retirement – 2009 Taxes – Free Tax Filing Options posted at 2009 Taxes, saying, “Many people get nervous when it comes to thinking about retirement investing. It can be a very confusing process with complicated terms and options available.”

 

tips

Roger White presents Making 401k Withdrawals posted at 401k Calculator, saying, “If you are thinking about making a 401k withdrawal, you should consider the choice very carefully. This blog post highlights some of the risks of making a withdrawal.”

DeWitt Dudley presents The Top Five Asset Protection Strategies For The Owners Of A Closely Held Business | Law Offices of Givner & Kaye posted at Law Offices of Givner & Kaye, saying, “The owners of a closely held business that is operated as an “S” corporation may be the targets of lawsuits that will drain their insurance policies, that may even exceed the limits of their insurance policies and that may cause them sleepless nights. What steps should these business owners take so that if something goes wrong, they will not lose all or most of the assets that they have worked so long to accumulate?”

That concludes this edition. Submit your blog article to the next edition of tax carnival ecstasy using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

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tax carnival ecstasy, blog carnival.

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