The corporate tax filing deadline is usually March 15. This year March 15 is a Sunday so the deadline is pushed off until Monday, March 16, 2015. Make sure you get your corporate tax return to the IRS by that point. If you still need more time to prepare, be sure to file an extension Form 7004. Need help with corporate taxes? Contact me!
When people get married or divorced or a spouse dies during a year, it can be confusing to determine what the filing status of that year should be. The IRS determines your filing status based on what you are on December 31 of that tax year. This means that whether you got married on January 1 or December 31 of 2013, you are considered married by the IRS for the whole year. Sometimes more than one status applies. If that is the case, you can choose the one that leaves you with the least amount of tax. The IRS doesn’t often give you that luxury!
Still confused? The IRS has a handy little app to help you determine your status.
Well if you filed your taxes and you feel like the tax bill you were handed was an unfair amount, you are not alone. According to a recent gallup poll only 55% of Americans think their income taxes are fair. Turns out that there isn’t a big difference in this perception based on income or demographics, but rather political affiliation- democrats thinking it more fair, republicans less. Not shockingly, more people this year compared to last think that their taxes are going to go up.
There is some interesting information and graphs in the poll. Check it out.
With all of the changes to the tax code that were signed earlier this year the IRS is scrambling to catch up. If you are a taxpayer that claims one of the education tax credits- the American Opportunities Credit and the Lifetime Learning Credit- using Form 8863 you will need to wait until mid February to file your return. This is because the IRS needs time to test their systems and ensure proper computations. Read more about it here.
The IRS just announced that the 2012 tax filings for individuals can be submitted beginning January 30, 2013. Start collecting your tax information now and to be ready to file!