Editor John McKay firstname.lastname@example.org
The term “capital asset” for tax purposes applies to almost everything you own and use for personal or investment purposes. A capital gain or loss occurs when you sell a capital asset.
Most taxpayers – more than 80% – file electronically. The IRS has processed more than 1 billion individual tax returns safely and securely since the nationwide debut of electronic filing in 1990.
Taxpayers who, like 70% of Americans, make less than $57,000 can use the Free File brand-name software.
Each year thousands of people in Oakland County have their tax returns prepared for free by IRS-trained and IRS-certified volunteers.
For tax year 2012 only, IRA owners can choose to report qualified charitable distributions made in January 2013 as if they occurred in 2012.
The tax law changes made by Congress earlier this month require updated forms and programming of tax return processing systems before the IRS can begin accepting tax returns on Jan. 30.
Due to tax law changes made by Congress this month, the IRS announced it plans to open the 2013 filing season and begin processing individual income tax returns on Jan. 30.
The IRS is seeking volunteers to help people with their 2012 taxes
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