http://myfederaltax.com The most comprehensive blog focused on the United States tax system. Wed, 12 May 2010 19:47:27 +0000 http://backend.userland.com/rss092 en Victims of severe storms, flooding, mudslides and tornadoes beginning May 1 in Kentucky may qualify for tax relief from the Internal Revenue Service. The President has declared Casey, Lewis, Lincoln, Logan, Metcalfe, Rockcastle, Rowan and Woodford counties federal disaster areas qualifying for individual assistance. As a result, the IRS is postponing ... http://myfederaltax.com/kentucky-flood-victims-have-extended-tax-deadline.html If you owe taxes and didn't file your tax return or request an extension by the April 15 deadline, you may face interest on any unpaid federal taxes you owe and a failure-to-file penalty. The IRS will deny a request for an extension that is filed after midnight on April ... http://myfederaltax.com/forget-to-file-your-taxes.html The Internal Revenue Service will host a special nationwide Open House on Saturday, May 15 to help small businesses and individuals solve tax problems. Approximately 200 IRS offices, at least one in every state, will be open May 15 from 9 a.m. to 2 p.m. local time. IRS staff will be ... http://myfederaltax.com/small-business-open-house.html Many people may wish to contribute to relief funds for the victims of Haiti’s recent earthquake. Contributions to domestic, tax-exempt, charitable organizations that provide assistance to individuals in foreign lands qualify as tax-deductible contributions for federal income tax purposes, provided that the U.S. organization has full control and discretion over the ... http://myfederaltax.com/contributions-to-relief-for-haitian-earthquake-victims.html The Internal Revenue Service kicked off the 2010 tax filing season today by issuing the results of a landmark six-month study that proposes new registration, testing and continuing education of tax return preparers. With more than 80 percent of American households using a tax preparer or tax software to help ... http://myfederaltax.com/irs-proposes-new-requirements-for-tax-return-preparers.html New Legislation New legislation, the Worker, Homeownership and Business Assistance Act of 2009, which was signed into law on Nov. 6, 2009, extends and expands the first-time homebuyer credit allowed by previous Acts. The new law: Extends deadlines for purchasing and closing on a home. Authorizes the credit for long-time homeowners buying a ... http://myfederaltax.com/first-time-homebuyer-credit.html The Oct. 15 deadline is fast approaching for millions of taxpayers who requested a six-month extension to file their 2008 tax returns. It's also the deadline for special voluntary disclosures by taxpayers with assets in previously undisclosed offshore financial accounts. In most cases, Oct. 15, 2009, is the last day taxpayers may ... http://myfederaltax.com/taxpayers-have-until-oct-15-to-file-extended-2008-tax-returns.html With the deadline quickly approaching, the Internal Revenue Service today reminded potential homebuyers they must complete their first-time home purchases before Dec. 1 to qualify for the special first-time homebuyer credit. The American Recovery and Reinvestment Act extended the tax credit, which has provided a tax benefit to more than ... http://myfederaltax.com/first-time-home-buyer-tax-credit-provides-tax-benefits.html Mail your return to the Internal Revenue Service Center shown in the next column that applies to you. If you are filing Form 1040X in response to a notice you received from the IRS, mail it to the address shown on the notice. If you are filing Form 1040X due ... http://myfederaltax.com/where-to-send-your-amended-income-tax-return-1040x.html Plug-in electric vehicles using certain types of batteries may qualify for a new tax credit if purchased this year. The Emergency Economic Stabilization Act of 2008 (EESA) and the American Recovery and Reinvestment Act of 2009 (ARRA) created two new tax credits for various types of electric vehicles, which ... http://myfederaltax.com/tax-breaks-for-purchasing-plug-in-electric-vehicles.html