Need to verify your $250 Economic Recovery Payment?
Mar 19, 2010 Income Taxes
Need to verify your $250 Economic Recovery Payment?
Have questions about whether or not you received the $250 Economic Recovery Payment (ERP) in May, 2009? Three different funding agencies are involved; Social Security Administration, Railroad Retirement Benefits or the Veterans Administration. You will be required, for security reasons, to authenticate who you are. Have your social security number, your date of birth and zip code (the one you used on your tax return) available. You can either call 866-234-2942 and select #1 for the ERP question or use a web-based version of the information provided on the phone is available at:
http://www.irs.gov/individuals/article/0,,id=219514,00.html
Tags: 2009
A new IRS.gov section for the unemployed…
Mar 16, 2010 Tax Strategies
A new IRS.gov section for the unemployed…
Are you unemployed or struggling with personal finances? There is a new informational section on the government website, IRS.gov, that has information and web links to tax-related resources, tax assistance information, and suggestions that could help you through these difficult financial times. The Tax Center to Assist Unemployed Taxpayers has been created to offer advice, free publications, links to sources for tax planning, tax settlement plans, offers in compromise, etc. as well as other relevant topics for which you need planning information. There are also links to videos, health insurance information, and other IRS publications covering topics like bankruptcy, cancellation of debt income, and bartering income. Get information directly from the “horse’s mouth” rather than your well-intentioned neighbor or friend.
Avoiding Tax Penalties
Mar 16, 2010 Tax Strategies
Avoiding Tax PenaltiesThe IRS wants you to know about penalties if you don’t file your 2009 tax return by April 15, 2010. The government website’s newsroom offers the following advice:
Tags: Tax Penalties
Qualifications for claiming an adult as a dependent
Mar 4, 2010 Tax Strategies
Qualifications for claiming an adult as a dependentThere are several qualifications for claiming an adult as a dependent:
1. You as the taxpayer must provide over 50 percent of your dependent’s living or support costs.
2. Your dependent must either live with you for 12 months or be your parent, grandparent, step-parent, aunt, or uncle.
3. Assuming the person does not have a disability, your dependent cannot have a gross income that exceeds the tax year’s exemption amount. The exemption amount in 2009 is $3,650.
4. Your dependent cannot file a joint return with another person for the year unless that tax filing is only completed in order to claim taxes that had been withheld.
5. Your dependent must be a US citizen, a US national, or a resident of the US, Canada, or Mexico.
Tags: 2009
