September Tidbits
IRS Posts 2012 Tax Tips
Following is a list of tax tips for 2012 that the Internal Revenue Service has posted on their website. To find out more about a specific topic go to IRS.gov and click on Tax Topics under the Newsroom Topics header.
Employers Need to Act Soon to Get Expanded Credit for Hiring Vets
IRS Offers Tips for Safeguarding Tax Records
Renting Your Vacation Home
Visit IRS.gov this Summer for Tax Help
Job Search Expenses Can be Tax Deductible
IRS Offers Tips on How to Fix Errors Made on Your Tax Return
Special Tax Benefits for Armed Forces Personnel
A Lesson from the IRS for Students Starting a Summer Job
More Flexible Offer-in-Compromise Terms Help Taxpayers Make a Fresh Start
Keep the Child and Dependent Care Tax Credit in Mind for Summer Planning
Interest Rates for Fourth Quarter of 2012
The Internal Revenue Service announced the interest rates will remain the same through the end of 2012. The rates are:
3 percent for overpayments (2 percent for corporations)
3 percent for underpayments
5 percent for large corporate underpayments
.5 percent for the portion of corporate overpayment exceeding $10,000
Important Dates
Individual income tax returns on extension are due by October 15th.
Third quarter payroll tax returns are due by October 31st.
