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TurboTax 2012Intuit Inc., which is the maker of the tax software TurboTax 2012, is getting ready for the tax season to begin late in 2012.With the changes that are occurring in tax laws it is possible that the filing deadlines may be pushed to later in the year. This could cost the company a delay in revenue  of $50 million to $75 million. This could translate into a 10 cent to 15 cent loss in t
2011 Federal Tax DeductionsEveryone is looking for deductions for their 2011 federal tax situation.  We’ve all heard of the mortgage deduction, the medical deduction, and even deductions for owning an electric car–but are those all the deductions you can find?  It’s important to know all the deductions, so you can maximize your own personal benefits this tax season.  There are m
2010 Tax Credits For Your HomeFor those of you thinking of buying a new home but are not sure about the 2010 tax credits, maybe this will help you. If you are buying a home and your modified gross income is less than $245,000, the house costs less than $800,000, and you’re a first time home buyer, you can receive full credit. If your modified adjusted income is more than $125,000, you will
The end of the United States tax year has been and gone, so it is surprising to some that there are still a large number of celebrities who are believed to still owe the Internal Revenue Service (IRS) a great deal of money. But are the IRS oblivious to this? Are the celebrities in the US entirely under the radar?Because there is a considerable amount of money still owed at such a late date by cel
Taking Control of Your Back Taxes If you haven’t paid your taxes yet. It’s still not too late to turn them in; however, there are several important steps to take to ensure that all goes well for you on your taxes.1) Pull out and Examine your Last Tax ReturnFirst, bring to your table a copy of your last tax return. Then, bring together W-2s and other documents that you need in order to file. If yo
Filing Federal Tax ReturnsThere are many difficulties inherent in filing federal tax returns for same sex couples.  Even in states where gay marriage has been legalized, issues abound.  Because of DOMA (Defense of Marriage Act) even when a state legalizes gay marriage, it isn’t recognized on a federal level.  As a result, filing taxes jointly, like most married couples around the country do
IRA Tax PenaltyIf you are wondering if there is an IRA tax penalty for withdrawing money from an IRA early, the answer is yes.It is best if you do not touch your money and let it accumulate as long as you can. If you decide to withdraw any money before the age of 59 and a half, the money will be subject to an early withdrawal penalty of 10% of the amount of distribution. By withdrawing your money
Free Tax Filing InformationMost federal highway use tax returns are due, with the due date falling on the 31st Aug 2012. Now the use revenue collector, the IRS or internal revenue service is reminding owners of highway vehicles truckers regarding the need to file their taxes. Aug 31st is a deadline when forms such as the tax form 2290 will need to be filed with the IRS as well as payment of the r

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