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TAX TIME GUIDE: AUTOMATIC TAX-FILING EXTENSIONS NOW AVAILABLE; USE FREE FILE TO GET SIX MORE MONTHS TO FILE

The Internal Revenue Service today reminded taxpayers who are unable to complete their tax returns on time that it’s easy to get more time to file their return. In fact, it can even be done online.

This is the ninth in a series of 10 daily IRS tips called the Tax Time Guide. These tips are designed to help taxpayers navigate common tax issues as the April 15 deadline approaches.

For taxpayers who haven’t yet filed their taxes, the IRS has this advice: don’t panic. Taxpayers who need more time to complete their tax return can request an automatic six-month extension.

INTEREST RATES REMAIN THE SAME FOR THE SECOND QUARTER OF 2015

The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning April 1, 2015.  The rates will be:

  • three (3) percent for overpayments [two (2) percent in the case of a corporation];
  • one-half (0.5) percent for the portion of a corporate overpayment exceeding $10,000
  • three (3) percent for underpayments; and
  • five (5) percent for large corporate underpayments.

SIX IRS TIPS FOR YEAR-END GIFTS TO CHARITY

Many people give to charity each year during the holiday season. Remember, if you want to claim a tax deduction for your gifts, you must itemize your deductions. There are several tax rules that you should know about before you give. Here are six tips from the IRS that you should keep in mind:

1. Qualified charities. You can only deduct gifts you give to qualified charities. Use the IRS Select Check tool to see if the group you give to is qualified. Remember that you can deduct donations you give to churches, synagogues, temples, mosques and government agencies. This is true even if Select Check does not list them in its database.

TAX TIME GUIDE: EASY E-PAY AND PAYMENT AGREEMENT OPTIONS AVAILABLE TO PEOPLE WHO OWE TAX

The Internal Revenue Service today reminded taxpayers that it’s easier than ever to pay their taxes electronically, and for those who can’t pay on

IRS HAS REFUNDS TOTALING $1 BILLION FOR PEOPLE WHO HAVE NOT FILED A 2011 FEDERAL INCOME TAX RETURN

Federal income tax refunds totaling $1 billion may be waiting for an estimated one million taxpayers who did not file a federal income tax return for 2011, the Internal Revenue Service announced today. To collect the money, these taxpayers must file a 2011 tax return with the IRS no later than Wednesday, April 15, 2015.

“Time is running out for people who didn’t file a 2011 federal income tax return to claim their refund,” said IRS Commissioner John Koskinen. “People could be missing out on a substantial refund, especially students or part-time workers. Some people may not have filed because they didn’t make much money, but they may still be entitled to a refund.”

Tax Tips, Resources & News

Our blog, news feeds, forms, and links to helpful resources are provided to help you find the answers you seek any time of the day or night.  Please call us at 330-779-0781 for assistance.  We're here to guide you through your business and personal accounting and tax questions and obligations.

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  • Address:DJL Accounting & Consulting Group, Inc.
    Cider Mill Professional Center, Building C-102
    1570 S Canfield Niles Road
    Youngstown, Ohio 44515 
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