News From Our Blog

Image description:
From the IRS:

Itemizing vs. Standard Deduction: Six Tips to Help You Choose.
How many boxes of Thin Mints does a guy have to buy for it to be a charitable donation and tax deductible, @USAgov?

Asked by @tomisnoyce on Twitter.

If you buy Girl Scout cookies to take home and eat, they aren’t tax deductible. You can read why on the Girl Scout website (scroll down to “Is my purchase of Girl Scout Cookies tax-deductible?”).

From the IRS:

No, a tax transcript will not help you determine when you will get your refund. This is among the common myths and misconceptions that are often repeated in social media.

The codes listed on tax transcripts do not provide any early insight into when a refund will be issued. The best way to check on your refund is by visiting “Where’s My Refund?

While transcripts include a lot of detailed information regarding actions taken on your account, the codes do not mean the same thing for everyone and they do not necessarily reflect how any of these actions do or do not impact the amount or timing of your refund.

IRS transcripts are best and most often used to validate past income and tax filing status for mortgage, student and small business loan applications and to help with tax preparation.

For more answers to common refund questions visit our 2014 Tax Season Refund Frequently Asked Questions page.

Image description:
From the IRS::

What you should know about the alternative minimum tax.

The internalrevenueservice (IRS) offers many free tax resources to U.S. taxpayers, including help online, by phone and in person.