IRS: Eight Tips to Determine if Your Gift is Taxable
April 1, 2012
Washington, D.C. – If you gave money or property to someone as a gift, you may owe federal gift tax.
Many gifts are not subject to the gift tax, like those to a spouse or charity. The Internal Revenue Service (IRS) offers the following eight tips about gifts and the gift tax.
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IRS Kicks Off 2011 Tax Season with Deadline Extended to April 18th
January 5, 2011
Taxpayers Impacted by Recent Tax Breaks Can File Starting in Mid- to Late February
Washington, D.C. – The Internal Revenue Service today opened the 2011 tax filing season by announcing that taxpayers have until April 18th to file their tax returns. The IRS reminded taxpayers impacted by recent tax law changes that using e-file is the best way to ensure accurate tax returns and get faster refunds.
Taxpayers will have until Monday, April 18th to file their 2010 tax returns and pay any tax due because Emancipation Day, a holiday observed in the District of Columbia, falls this year on Friday, April 15th. By law, District of Columbia holidays impact tax deadlines in the same way that federal holidays do; therefore, all taxpayers will have three extra days to file this year. Taxpayers requesting an extension will have until October 17th to file their 2010 tax returns. [Read more]
