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Where’s My Refund?

Posted in Tax News on February 1, 2012

In an annual reminder to taxpayers, the Internal Revenue Service announced today that it is looking to return $153.3 million in undelivered tax refund checks. In all, 99,123 taxpayers are due refund checks this year that could not be delivered…

Tagged with: Bank Accout, Direct Deposit, E-File, Electronic Tax File, Electronically File, Income Tax Refund, Income Tax Returns, Internal Revenue Service, IRS, Refund, Saving Bond, Tax Refund, Tax Return, Taxpayers

Payroll Tax Cut Temporarily Extended into 2012

Posted in Tax News on January 11, 2012

Congress recently passed and the President signed the Temporary Payroll Tax Cut Continuation Act of 2011.This act temporarily extends the two percentage point payroll tax cut for employees by continuing the reduction of their Social Security tax withholding rate from…

Tagged with: Compensation, Congress, Employee, Employer, Income Tax, Income Taxes, Internal Revenue Service, IRS, Payroll Tax, Payroll Taxes, President, President Obama, Social Security Tax, Tax Withholding, Wages, Withholding

Rental Property Owners Get Relief from 1099 Reporting Requirements

Posted in Tax News on November 28, 2011

Originally under the Small Business Jobs Act, those who received rental income from real estate were going to be considered, to be engaged in a business, and were going to be subject to the requirements to issue 1099 information returns. …

Tagged with: Congress, Contractors, Federal Government, Form 1099, Form 1099-MISC, Gardeners, Internal Revenue Service, IRS, Landscapers, President Obama, Property Manager, Property Managers, Real Estate, Rental Property Owner, Rental Real Estate, Second Home, Small Business Jobs Act

The Difference Between Short-Term and Long-Term Capital Gains

Posted in Tax News on November 2, 2011

The sale of a capital asset will result in a capital gain. Depending on the holding period of this asset, the gain will either be short-term or long-term. Long-term gains have a lower, preferred income tax rate. The holding period…

Tagged with: Alternative Minimum Tax, AMT, Bonds, Capital Assets, Capital Gains, Capital Loss, Capital Loss Carryover, Form 1040, Form 1099-B, Form 8949, Holding Period, Income Tax, Inflation, Internal Revenue Service, IRS, Long Term Capital Gains, Married Filing Jointly, Mutual Funds, Ordinary Income, Schedule D, Short Term Capital Gains, Stocks, Tax Return

How to Pay Estimated Income Taxes and Avoid IRS Penalties

Posted in Tax News on October 27, 2011

Taxpayers must pay their taxes “as they go.” For many taxpayers, their income taxes are withheld from their paychecks. For taxpayers that don’t have any withholding, they will need to make estimated tax payments.

Tagged with: Adjusted Gross Income, AGI, Alternative Minimum Tax, AMT, Connecticut, Connecticut Estimated Income Tax, Connecticut State Income Tax, CT, Department of Revenue Service, DRS, Estates, Estimated Tax, Form 1040-ES, Form 1099-R, Form 2210, Form CT-1040-ES, Form W-2, Form W-4, Form W-4P, Hartford, Hartford Connecticut, Hartford CT, Income Tax, Internal Revenue Service, ira, IRS, Itemize Deductions, Itemized Deductions, Penalty, Pension, Retirees, Social Security, Standard Deduction, State Income Tax, Trust, Wages, Withholding

Glastonbury, CT 860.646.2465
Niantic, CT 860.739.5459
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Blog Archives

Where’s My Refund?

Rental Property Owners Get Relief from 1099 Reporting Requirements

The Difference Between Short-Term and Long-Term Capital Gains

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Glastonbury, CT 860.646.2465 Niantic, CT 860.739.5459 Storrs, CT 860.429.7885

Blog Archives

Where’s My Refund?

Payroll Tax Cut Temporarily Extended into 2012

Rental Property Owners Get Relief from 1099 Reporting Requirements

The Difference Between Short-Term and Long-Term Capital Gains

How to Pay Estimated Income Taxes and Avoid IRS Penalties

Search

Links

Latest News

Categories

Get Free Tax Tips

Glastonbury, CT 860.646.2465
Niantic, CT 860.739.5459
Storrs, CT 860.429.7885