NEW YORK More than 62 percent of federal income tax returns are completed using tax preparation software. And while the IRS says professionals prepare more than half of returns, that still leaves more than 50 million people each year handling their own 1040s.
Here are some questions and answers about using tax-preparation software, and about the protections and support they offer filers who have problems.
Q: How do I know if a company's software follows all the IRS rules?
The IRS requires all tax preparation software to meet specific standards before it is approved for e-filing. Tax laws change each year, so make sure the program in use is for the current tax year (2008).
Q: Does that mean the software can guarantee a user doesn't make a mistake?
TurboTax – and other programs like H&R Block's TaxCut – asks a series of questions designed to help users enter W2 information and other income details the right way. But John Hewitt, chief executive of Liberty Tax Service, warns that you can enter certain types of income in the wrong spot, which would result in the wrong tax being calculated. So it is important to pay close attention to the questions as they are asked.
Read More Article...
Showing posts with label Property Tax Services. Show all posts
Showing posts with label Property Tax Services. Show all posts
Sunday, February 1, 2009
Monday, January 26, 2009
Property Tax Deadline Is January 31
The Jan. 31 property tax deadline is less than a week away and the Smith County tax office wants property owners to know that owning property means owing taxes.
"If you own property, you owe taxes," said Tax Assessor/Collector Gary Barber. "A lot of people assume because they didn't receive a statement that they don't have to pay but that's not the way it is. They are still responsible for that property and the taxes on it."
Barber said owners not exempt from paying property taxes need to be aware that penalties begin at 7 percent on Feb. 1 and increase 2 percent per month until reaching 18 percent on July 1.
He said by July a person's tax statement will have incurred a 33 percent penalty and he encourages payment even if it is not the full amount.
Owners with questions can contact the tax office staff for information regarding properties, Barber said. He said staff can locate the tax information with the address or former property owner's name.
Property owners can also access tax information and make payment on the county Web site.
Read More Article...
"If you own property, you owe taxes," said Tax Assessor/Collector Gary Barber. "A lot of people assume because they didn't receive a statement that they don't have to pay but that's not the way it is. They are still responsible for that property and the taxes on it."
Barber said owners not exempt from paying property taxes need to be aware that penalties begin at 7 percent on Feb. 1 and increase 2 percent per month until reaching 18 percent on July 1.
He said by July a person's tax statement will have incurred a 33 percent penalty and he encourages payment even if it is not the full amount.
Owners with questions can contact the tax office staff for information regarding properties, Barber said. He said staff can locate the tax information with the address or former property owner's name.
Property owners can also access tax information and make payment on the county Web site.
Read More Article...
Subscribe to:
Posts (Atom)
Useful Resources:
Outsource Bookkeeping Services
Outsourcing Services
