Wednesday, March 15, 2017

IRS Offers IRA Tax Tips for the 2016 Tax Year


IRS Offers IRA Tax Tips for the 2016 Tax Year
Taxpayers often have questions about Individual Retirement Arrangements, or IRAs. Common questions include: When can a person contribute, how does an IRA impact taxes, and what are other common rules.
The IRS offers the following tax tips on IRAs:

Medical and Dental Expenses May Impact Your Taxes

Issue Number:    IRS Tax Tip 2017-26

Medical and Dental Expenses May Impact Your Taxes 
Medical expenses can trim taxes. Keeping good records and knowing what to deduct make all the difference. Here are some tips to help taxpayers know what qualifies as medical and dental expenses:

Thursday, March 2, 2017

IRS Has Refunds Totaling $1 Billion for People... 2013.. File It or Lose It!




IRS Has Refunds Totaling $1 Billion for People Who Have Not Filed a 2013 Federal Income Tax Return

Refund: Claim It or Lose It – 

WASHINGTON — The Internal Revenue Service announced today that unclaimed federal income tax refunds totaling more than $1 billion may be waiting for an estimated 1 million taxpayers who did not file a 2013 federal income tax return.

To collect the money, taxpayers must file a 2013 tax return with the IRS no later than this year's tax deadline, Tuesday, April 18.