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The Internal Revenue Service today, April 17, 2013, announced a three-month tax filing and payment extension to Boston area taxpayers and others affected by Monday’s explosions. Monday's bombing occurred on the traditional tax filing deadline. Acting IRS Commissioner Steven Miller said the agency wants the victims and others affected by the bombings to have the time they need to finish their taxes [Read More...]
The Internal Revenue Service announced that they plan to open the 2013 filing season and begin processing individual income returns on January 30th. Due to the late tax law changes enacted on January 2, this announcement means that the IRS will begin accepting e-filed tax returns for the vast majority of U.S. tax filers on January 30th. [Read More...]
The new design of the IRS tool, “Where’s My Refund?” will give you personalized refund information based on the processing of your 2012 tax return. In years past, the “Where’s My Refund?” tool allowed taxpayers to find out exactly when they would be receiving their refund. The new design will include a tracker that displays progress through 3 stages. So in a change from previous tax seasons, taxpayers will not get an estimated refund date right away. [Read More...]
The Internal Revenue Service announced November 16, 2012, that 401(k)s and similar employer-sponsored retirement plans can make loans and hardship distributions to victims of Hurricane Sandy and members of their families. 401(k) plan participants, employees of public schools and tax-exempt organizations with 403(b) tax-sheltered annuities, and state and local government employees with 457(b) deferred-compensation plans may be eligible to take advantage of these streamlined loan procedures and opened hardship distribution rules. Though IRA participants are barred from taking out loans, they may be eligible to receive distributions under liberalized procedures. [Read More...]