It’s tax season once again and here are some of the latest news from the IRS which could help you in your tax filing this 2011. Of course, the best tip is always to save time by going to the IRS website to download IRS forms online.
The IRS forms and publications resource page located HERE gives all the IRS forms you need such as the Form 1040 and Form W-4 and many others. They also provide instructions there.
Do note that individual and business taxpayers will no longer receive income tax packages through postal mail because they can just view, download or order the forms, schedules, and instructions needed for filing a paper income tax return through the IRS website.
In related news, the US government has given tax credits to adoptive parents, college students, self-employed individuals and those who did some energy-saving installations at home.
However, those who have been unemployed in 2010 will not be given a tax break unlike last year. Those who received unemployment checks are required to pay taxes on the full amount.
To get more details on these tax breaks and other concerns, one can consult the Taxpayer Advocate Service, an independent arm formed by the IRS that aims to help people in financial crisis and those with tax concerns and problems.
Lastly, the deadline for filing of taxes this 2011 is on midnight of April 18.