IRS Offers Special Tax Benefits for Armed Forces Personnel
July 22, 2013
Washington, D.C. – If you’re a member of the U.S. Armed Forces, the IRS wants you to know about the many tax benefits that may apply to you.
Special tax rules apply to military members on active duty, including those serving in combat zones.
These rules can help lower your federal taxes and make it easier to file your tax return.
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Internal Revenue Service Offers Lower-Income Workers Two Tax Benefits
January 28, 2012
Nashville, TN – The Internal Revenue Service today alerted Tennesseans about two significant tax benefits that are sometimes missed.
“The IRS offers options that can boost your tax refund and let you avoid paying a tax preparation fee,” said IRS spokesman Dan Boone.
First, those who worked some part of 2011 but made less than $49,078 may qualify for the Earned Income Tax Credit (EITC), which can increase tax refunds by as much as $5,751. Workers with qualifying children get the highest amount of EITC. [Read more]
In 2012, Many Tax Benefits Increase Due to Inflation Adjustments
October 22, 2011
Washington, D.C. – For tax year 2012, personal exemptions and standard deductions will rise and tax brackets will widen due to inflation, the Internal Revenue Service announced.
By law, the dollar amounts for a variety of tax provisions, affecting virtually every taxpayer, must be revised each year to keep pace with inflation. New dollar amounts affecting 2012 returns, filed by most taxpayers in early 2013. [Read more]
IRS Offers Summer Tax Tips
May 27, 2011
Nashville, TN – Before you start a summer job, take a vacation, or send the kids off to camp, the Internal Revenue Service wants you to know that certain summertime activities may help you qualify for tax benefits. However, there are also some tax issues that must be handled correctly now to avoid problems later.
“Remember that some common summertime activities can lead to tax benefits, but they can also lead to tax problems if not handled correctly,” said IRS spokesman Dan Boone. [Read more]
