TurboTax

Considering Your Home Mortgage Tax Deduction

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Let Turbo Tax 2014 guide you at tax time.

Many people debate the merits of having a mortgage tax deduction when they file their taxes.

It makes sense to work at lowering your taxable income and getting all of the credits and deductions that you are entitled to, and claiming mortgage interest may be at the top of the list for you. Some homeowners think so much of this deduction that they forgo paying off their mortgage in spite of having enough money to do so. The question becomes whether it makes more sense to keep the savings or eliminate … Read more at 2009 Tax.

An Important Guide On Filing Taxes Online

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An agreement between a group of private companies that produce tax filing software,the Free File Alliance, and the IRS has made it very easy to file your taxes. Even filing taxes online. The companies have availed their software to be used at absolutely no charge. This has resulted in over 40 million people turning to filing taxes electronically because of the ease and safety associated with this method. When you file your returns electronically, you also benefit from being able to receive your refund faster than those who have to go through a lot of paperwork.

In order to … Read more at 2009 Tax.

On What Day Will I Be Able To File My Taxes?

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The IRS has set the date to open up their filing season, for year 2014, on January 31st. They encourage all taxpayers to take advantage of Free File, e-file, or TurboTax 2014, to get the quickest refunds of their 2014 taxes.

This opening date for filing tax returns for 2013 will give the IRS enough time to properly program and test their updated tax processing systems. There were substantial delays in their system back in October, immediately after they experienced that 16-day government shutdown.

The Acting Commissioner for the IRS, Mr. Danny Werfel, encouraged taxpayers with this … Read more at 2009 Tax.

Surviving An IRS Audit

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Surviving An IRS Audit

An IRS tax audit is requested when the tax filer submits tax information that doesn’t match with that submitted by employers, brokerage firms, banks and other institutions. This document-matching is only one means of identifying tax returns to be audited. The Discriminant Function System (DIF) is a point system the IRS gives each return rating it on its possibility of containing fraudulent information. Informants are still a popular means to detecting who has filed a fraudulent tax return and finally, self-employed persons and persons earning $200,000-1 million are often pursued when their returns appear suspicious.

Any … Read more at 2009 Tax.

IRS Publication 17

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IRS Publication 17 For 2013

If you want to do your own taxes, you need to understand the process. Fortunately, you do not need a degree in accounting to figure out how to do your own taxes. The best chance that you have to get through your taxes without making a mistake is to consult the document put out by the IRS for that purpose. IRS Publication 17 is a great guide for those working on their own taxes.

IRS Publication 17 is still the most useful IRS publication for figuring out exactly how your income taxes work. The document … Read more at 2009 Tax.

Tips For Maximizing Your Return

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With The Free Turbo Tax 2013 Software

When you use free Turbo Tax 2013, it is important to make sure that you maximize your return. The free TurboTax software makes this easier than it has ever been before since you will be asked a series of questions about your finances; these questions are much clearer than the labels on the tax documents, so you will really understand what you are being asked and what you need to say. The software will then plug your answers into the right boxes so that you have fully official tax documents with … Read more at 2009 Tax.