Income Tax Pro Blog - 2010 Archive

IRS begins the 2009 income tax return season this month and has announced that IRS efile opens on January 15, 2010. IRS efile as we discuss on our web site is the process of filing out your federal income tax return and sending it to the IRS electronically versus sending your income tax return to …

Free printable tax forms for 2009 are now available online. Printable tax forms 1040EZ, 1040A and 1040 long form are available for download online to help prepare your income tax return before the filing deadline. For most income tax payers, your federal income tax forms must be postmarked by April …

Waiting for your W-2 forms so that you can file your 2009 income tax return? W-2 forms are the standardized statements of income that each employer must provide to their employees before January 31, 2010 for the 2009 income tax year. Depending upon the size and policies of your company’s payroll …

Home tax deductions are often difficult to figure out in the rush to prepare your income tax forms. If you bought a new home, sold a home, refinanced your mortgage, or did some recent home improvements here are a few things to keep in mind throughout the year. Keep receipts for home …

You might be overpaying your taxes if you chose the standard deduction over itemized deductions. The Internal Revenue Service estimates that in 2007 nearly 51 million taxpayers itemized deductions on tax form 1040A and claimed more than 1.33 trillion dollars worth of tax deductions. That is …

Federal Tax Form 1040-ES is used by individuals who are required to make estimated tax payments. Individuals are generally required to make estimated payments when they have taxable income that is not subject to withholding. Earnings from self-employment, interest, dividends, rents, and alimony are …

We just created a prior year 2008 Federal Tax Forms 1040, 1040A and 1040EZ web page so that you can locate your 2008 tax forms more easily. If you are late filing your 2008 Federal tax forms we recommend that you complete them as soon as possible. The IRS will calculate your penalty and interest …

Income Tax Pro is now on Twitter. Follow us and we’ll follow you too! http://twitter.com/incometaxpro …

Form W-9 Request for Taxpayer Identification Number and Certification is a tax form used to request your taxpayer identification number SSN or TIN. Form W-9 is commonly presented to independent contractors, consultants and self employed individuals prior to getting paid the first time. The basic …

The Internal Revenue Service (IRS) announced that Taxpayer Assistance Centers will open in seven Gulf Coast cities to help the Gulf oil spill region better understand their tax issues.  The Taxpayer Assistance Centers will open Saturday, July 17 at the following locations from 9 a.m. to 2 p.m …

Form 1040X Amended US Individual Income Tax Return is the tax form you use to amend your 1040, 1040A, 1040EZ and related forms. While some exceptions do exist, you generally must file Form 1040X within 3 years after the date you filed your original income tax return. Use Form 1040X to correct your …

The Internal Revenue Service (IRS) has created a special web page for those who are unemployed and struggling to pay their taxes. On this special web page titled “Tax Center to Assist Unemployed Taxpayers” is a list of resources that you can scan through to see if they related to your …

Form 5405 First Time Homebuyer Credit and Repayment of the Credit is used by eligible taxpayers who buy a home and qualify for the first time homebuyer credit. The Homebuyer Assistance and Improvement Act of 2010 signed by the President in July effectively extended the closing deadline from June 30 …

Form 4506 Request for Copy of Tax Return is the tax form to fill out if you need an exact copy of a tax return and all attachments mailed to the IRS. Complete Form 4506 and mail it to the address listed in the form instructions. Form 4506 requires a $57.00 fee for each year requested. You can use …

Form SS-4 Application for Employer Identification Number is used by employers, corporations, partnerships, sole proprietors, trusts, estates, churches, government agencies, Indian tribal entities, certain individuals and others to apply for their federal EIN tax ID number. That sounds like a whole …

Form W-5 Earned Income Credit Advance Payment Certificate is used by those who are eligible to get part of their Earned Income Credit (EIC) in advance along with their pay. How much of the Earned Income Credit you get in advance depends upon your wages and filing status. Use the links below the …

Form W-4 Employee’s Withholding Allowance Certificate is the IRS tax form used by your employer to withhold the correct amount of federal income tax from your paycheck. Employees generally complete Form W-4 before receiving their first paycheck. Form W-4 can be resubmitted to your employer to …

Payment 3 of Form 1040-ES is due September 15, 2010. Individuals who are required to make estimated tax payments should print out Form 1040-ES, read the instructions, and send in your estimated tax payment as soon as you can even if it’s late. Individuals are generally required to make …

Refund Anticipation Loans are under attack once again and the RAL providers are asking for you to voice your support. If you use Refund Anticipation Loans and want to continue doing so, you should voice your concern by following a few simple steps online. Visit the H&R Block Action Center to …

Free income tax estimator for the up coming tax season. This free income tax estimator is provided by TurboTax, the leader in online income tax preparation software. The free income tax estimator is scheduled to launch in December. Last year TurboTax featured a tax calculator called TaxCaster which …

Free personal finance software, can it be true? Yes. Mint is the future  of personal finance software and was created by Intuit the makers of both Quicken and TurboTax so you know it must be good.  Aside from helping you improve your personal finances, Mint free personal finance software can …

Each year the number of federal income taxpayers who e-file increases. Recent statistics released by the IRS show that nearly 70% of federal income taxpayers used e-file for tax year 2010. That is way up compared to about 31% of income tax returns using e-file in 2001. Here’s the table …

The Internal Revenue Service (IRS) today announced that they are seeking to return $164.6 million in undelivered refund checks to taxpayers. Mailing address errors have resulted in undelivered refund checks for 111,893 taxpayers. The IRS recommends that you E-File and Direct Deposit your income …