Individuals who wish to use a tax service may wish to try TurboTax 2013. This is the option that they may need to easily pay their taxes, and be able to get the tax help they can use. One of the items that the individuals can take advantage of is that they can use an earned income credit when they are filing their taxes. An earned income credit allows individual to get money back from child care expenses they may have paid over time. The Earned Income Tax Credit was designed to help low to moderate income people get a refund of some of the expenses they may have paid over the course of the year.
Brett Doubikin, a 43 year-old Morrow County contractor, received a phone message informing him that the IRS was investigating him. Fear made him return the call while he tried to remember if he missed something when he filed his taxes.
What Doubikin later realized is that the call was part of a sophisticated phone scam involving fake IRS employees who present fraudulent claims in order to get money from people with little or no tax knowledge. The charlatans posing as IRS employees are known to threaten people with either jail or deportation if these victims fail to deliver the declared debt amount. Part of these scammers’ scheme was to inform victims that their taxes were not paid, which must hence be settled through wire transfer or by using a pre-paid debit card. To make things appear legitimate, the callers use false IRS badge numbers, acquire the last four digits in … Read the rest
Photo by Michael Vadon
Taxes in 2014 are set to undergo various adjustments, affecting more than 40 tax provisions. The Revenue Procedure 2013-35, published on 18 November 2013, provides detailed information of each adjustment.
A tax rate of 39.6% will affect singles whose annual income exceeds $406,750 and married couples with joint returns exceeding $457,600. This is up from the current amounts of $400,000 and $450,000 respectively. The Revenue Procedure describes the rates that apply to other thresholds.
In terms of standard deductions for singles or married couples filing separate returns, the amount rises from $6,100 to $6,200. For married couples filing joint returns, it rises from $12,200 to $12,400. On the other hand, the standard deduction that applied for heads-of-households has risen from $8,950 to $9,100.
TurboTax Is Integrating With EHealth
eHealth, the United States’ predominant private Internet health insurance exchange, has announced that it will enter into a partnership with Intuit Inc.. Inuit’s TurboTax product is currently used by over 20 million Americans to simplify the tax filing process. With this partnership, TurboTax users will be able to simply navigate their health insurance options to either acquire more desirable insurance or to comply with the conditions of the Affordable Care Act (ObamaCare). Both parties hope the agreement will expand consumer enrollment.
eHealth, and other health care exchanges, function in a similar fashion to health care benefits that some corporations provide their employees. Corporations that provide health insurance receive lower prices than individuals. Because companies purchase insurance for a large number of people, they receive a lower price on a per capita basis. Health insurance exchanges operate with this same concept but independently from … Read the rest
Tax Return Extensions Made Easy
Most people these days have such busy schedules and isn’t it a hassle to personally file our tax returns? We agree that there are better things to fill your day than filing taxes, but yet it is necessary that we do so.
Turbotax 2013 can help you dedicate your time to more important things. If you are not able to file your tax return before a certain time, then software dedicated to filingtax return extension could be just what you need.
With a few easy steps you could be on your way doing things aside from filling in complicated and time-consumingtax extensions forms. Out of sight and out of mind.
Using TurboTax 2013 Software
Filing taxes is a responsibility that all American wage earners share. While most people file their taxes by April 15 each year, others choose to file an extension, which gives them six more months to file their taxes. If you have filed an extension with the IRS and still need to file your taxes, it would be a good idea to use TurboTax 2013 to help prepare and file your return.
One of the main advantages of using TurboTax 2013 when you prepare your tax return is that it is current with all of the current tax laws. While the tax law may seem very consistent from one year to the next, there are always some changes that occur. These changes can have a dramatic impact on tax rates as well as deductions and credits that you may qualify for. By using the current software, you … Read the rest
TurboTax Raises Millions For The Military
This year Intuit, the parent company of TurboTax, raised two million dollars through its Mission 2 Match fundraiser. With this program, TurboTax offered people the opportunity to pledge money for Operation Homefront, an organization that provides emergency financial help and other support to military families.
As of April 15, 2013, individual donations amounted to over one million dollars, which Intuit has matched, resulting in a two million dollar gift to Operation Homefront. This amount is still rising, however, since the Mission 2 Match fundraising continues. Currently donations can still be made at , so the final total may be much greater than the current balance.
This effort to support US troops has resulted in donations of money, food, home repairs, household items, baby supplies, and transitional housing to families of American military members, relieving some of the pressure on US patriots serving … Read the rest
Estimate Your Tax Refund With The Free TurboTax Taxcaster
Tax time is drawing near and like most other Americans, you need to file and prepare your taxes to avoid penalties and late fees from the Internal Revenue Service. Fortunately, there are free tax preparation tools and software programs that can help you get the job done easily, correctly and quickly. Free TurboTax 2013 is a terrific tool you can use to prepare and file your taxes, but since there are several versions available you might be confused about which one is best for your tax situation. The tax professionals at TurboTax have designed a new product that can help you determine which software program is right for you and as an added bonus, it is completely free and very simple to use.