Category Archives: Tax Relief

Earned Income Tax Credit-Get It Right

If you are one of many Americans who earn a low to moderate income, you may be eligible for a tax credit that can increase your tax refund. This credit is known as the Earned Income Tax Credit, or more … Continue reading

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Five Things to Remember About Exemptions and Dependents for Tax Year 2017

The following article was published by the IRS. Most taxpayers can claim one personal exemption for themselves and, if married, one for their spouse. This helps reduce their taxable income on their 2017 tax return. They may also be able … Continue reading

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IRS Urges Travelers Requiring Passports to Pay Their Back Taxes or Enter into Payment Agreements; People Owing $51,000 or More Covered

The following article was published by the IRS. The Internal Revenue Service recently encouraged taxpayers who are seriously behind on their taxes to pay what they owe or enter into a payment agreement with the IRS to avoid putting their … Continue reading

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Standard Mileage Rates for 2018 Up from Rates for 2017

The following article was published by the IRS. The Internal Revenue Service today issued the 2018 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. … Continue reading

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Learn about Tax Benefits for Education

The following article was published by the IRS. The beginning of the school year is a good time for a reminder of the tax benefits for education. These benefits can help offset qualifying education costs. Here is information about two … Continue reading

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Top 7 Benefits of 529 Plans

There are many benefit to 529 College Plans. These college savings vehicles offer excellent benefits for anyone looking to save money for college. Here are 7 reasons to open an account if you haven’t already: Federal Tax Benefits. While you don’t … Continue reading

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Important Facts about Filing Late and Paying Penalties

The following article was published by the IRS. April 18 was this year’s deadline for most people to file their federal tax return and pay any tax they owe. If taxpayers are due a refund, there is no penalty if … Continue reading

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