Tuesday, April 16, 2013
Officials identified Riverdale Park, University Park and many neighboring communities as hotspots for potential tax cheats.
A study by the Internal Revenue Service finds that Riverdale Park, University Park and other communities in the Washington, D.C. region are home to clusters of small businesses at higher risk of being audited, USA Today reports. The study was conducted by the National Taxpayer Advocate, an independent office inside of the IRS. Using a figure known as the Discriminant Inventory Function—a score which the IRS uses to measure the likelihood that a person or business will fudge their taxes—officials identified 350 communities across five metropolitan areas that are home to unusually high numbers of "likely" cheats. Those areas include the District of Columbia, Los Angeles, San Francisco, Houston, and Atlanta. Riverdale Park and University Park…
Monday, January 14, 2013
It's tax time again in Riverdale Park and elsewhere. Standard deductions will increase, but the ceiling for itemized deductions decrease in 2013, plus other changes that will affect your taxes this year.
Monday, January 14
On Friday, the Internal Revenue Service announced annual inflation adjustments for tax year 2013, including the tax rate schedules, and other tax changes from the recently passed American Taxpayer Relief Act of 2012. The tax items for 2013 of greatest interest to most taxpayers include the following changes. Details on these inflation adjustments and others are contained in Revenue Procedure 2013-15, which will be published in Internal Revenue Bulletin 2013-5 on Jan.28, 2013. Other inflation adjusted items were published in October 2012 in Revenue Procedure 2012-41. -News release from the Internal Revenue Service If you have tax questions and need an expert, use the Riverdale Park-University Park Patch directory to locate a CPA or Tax …
Wednesday, December 19, 2012
Married same-sex couples who reside in Maryland can file jointly in 2014.
Same-sex married couples in Maryland will be able to file joint tax returns but they'll have to wait a year to do so. Comptroller Peter Franchot said Wednesday in a statement that "same-sex couples in the State of Maryland – whether married in this state or in other states – will have the opportunity to file joint tax returns for Tax Year 2013, and will receive the same state tax treatment as any married couple." The comptroller issued the statement a day after a Washington Times story reported that same-sex couples in Maryland would not be eligible to file jointly. Franchot said the story "contained significant misinformation regarding the tax filing status of same-sex couples in Maryland." That story raises questions about Maryland's tax…
Wednesday, December 28, 2011
Students, taxpayers with disabilities, elderly residents, and those with low and limited income are eligible for the program.
Prince George’s Community College is looking for county residents to participate in its Volunteer Income Tax Assistance Program. Those who take part will receive free preparation services from students training for Internal Revenue Service certification. Students, taxpayers with disabilities, elderly residents, and those with low or limited income are eligible. Participants' state and federal tax returns will be filed electronically. Refunds will be issued within seven to 10 days through direct deposit. “During 2011, our services saved seniors and low-income residents nearly $81,250 of tax preparation fees,” Betty Habershon, director of the Community Financial Center at Prince George’s Community College, said in a statement. “We are …