News

Please continue to check our website for updates and changes.

Benefits of Electronic Filing (E-File):

· Receive your refund in approximately 10 to 14 days

· Refunds can be directly deposited into your checking or savings account which saves time

· Faster submission of your return

· Additional error checking to verify the accuracy of your return

· Confirmation from the IRS and States that your return was received

· Priority processing for only $25 with the purchase of tax preparation services

· Saves paper – Go Green

First-Time Homebuyer Credit

Those who bought a main home recently or are considering buying one may qualify for the first time homebuyer credit. Normally, a taxpayer qualifies if she didn’t own a main home during the prior three years. This unique credit of up to $7,500 works much like a 15-year interest-free loan. It is available for a limited time only –– on homes bought from April 9, 2008, to June 30, 2009. It can be claimed on new Form 5405 and is repaid each year as an additional tax. Income limits and other special rules apply.

(From the IRS Website)

Consumer Alert

The IRS warns taxpayers to be on the alert for e-mails and phone calls they may receive which claim to come from the IRS or other federal agency and which mention their tax refund or economic stimulus payment. These are almost certainly a scam whose purpose is to obtain personal and financial information — such as name, Social Security number, bank account and credit card or even PIN numbers — from taxpayers which can be used by the scammers to commit identity theft. The e-mails and calls usually state that the IRS needs the information to process a refund or stimulus payment or deposit it into the taxpayer's bank account. The e-mails often contain links or attachments to what appears to be the IRS Web site or an IRS "refund application form." However genuine in appearance, these phonies are designed to elicit the information the scammers are looking for.

The IRS does not send taxpayers e-mails about their tax accounts. Additionally, the way to get a tax refund or stimulus payment, or to arrange for a direct deposit, is to file a tax return. 

(From the IRS Website)  

2008 Tax Changes

· Real estate taxes paid in 2008 by Non-itemizers cam claim an extra deduction.

· First time home buyer credit may be allowed on the purchase of principal residence after April 8, 2008 and before July 1, 2009.

· “Kiddie Tax” has been extended to children who are 18 or under, or are full time students - ages 18-24.