The Tax Preparation Blog

Archive for the ‘Tax Return Deadline’ Category

Question: Is it proper to fax my parents’ 2008 tax return to colleges?

I’m going through the financial aid process and my parents finally processed their 2008 tax return. A lot of the deadlines are approaching quickly so I was just wondering if it would be all right to fax the tax return to the schools directly. Thank you!

Answer: Jenny:

Don’t submit your parents’ tax returns to colleges or universities by any form (fax or otherwise), unless they’ve specifically asked for them.

When you complete the FAFSA, you answer various questions about your parents’ income and tax payments, and you are instructed to gather that information from your parents’ most recent tax returns. You are not required to document those responses with “proof” unless your FAFSA is selected for verification. If you were selected for verification, you would know about it already, because your school would have sent you a verification form, and lots of instructions.

If you completed the FAFSA, indicating that your parents “will file”, you’ll need to go back to the FAFSA that you already completed, and update it. You do that by going to the website, and re-entering your PIN number. If you look under the Big 3 on the right hand side of the page, you will see “Make Corrections to a Processed FAFSA” – that’s where you need to be.

The schools do not use the information on your tax forms directly – they receive an Expected Family Contribution score from the Department of Education. If you make changes to responses on your FAFSA, you need to make the Department of Education aware of those changes (using the FAFSA website). They will recalculate your Expected Family Contribution score, and notify your school of any changes.

Some schools DO require that applicants submit their parents’ tax returns, but you should only send those in IF you know for a fact that your school(s) require them. Otherwise, all you’re doing is violating the privacy of your parents’ tax returns, sending them to a financial aid department that has absolutely no use for them.

As I said – if you completed the FAFSA with estimated information, and indicated that your parents “Will File”, you should return to the http://www.fafsa.ed.gov/ page and update your processed FAFSA, not send the tax returns to the individual schools.

Good luck – I hope this helped.

Higher tax rates on capital gains in 2013 mean prior year losses become more valuable

Public accountant Howard Davis said he had a lot of clients who are still carrying forward tens of thousands of dollars in capital losses on their tax returns stemming from the stock market crash in 2008.

Millions will be paid in fines for late tax returns

Question: I still haven’t received my federal tax refund, what does this mean?

I filed a couple weeks before the due date in april, I haven’t received any response or my refund. What gives??? They would have let me know if there was a problem, correct?
I prepared it online (turbotax I believe), but had to print it on and send it in.

Answer: Generally not getting your refund in a timely manner means one of two things. First there was a problem with the IRS receiving the return (like it got lost in the mail or their process). Secondly is the case where the IRS believes that you owe them or some other governmental agency money. You can check on your refund at the link below. You will need to know you filing status, SS number and the amount of the refund.

http://www.irs.gov/individuals/article/0,,id=96596,00.html

LifeCare Holdings, Inc. Announces 2010 Year-end Results

PLANO, Texas, March 30, 2011 /PRNewswire/ — LifeCare Holdings, Inc. (the “Company”) today announced its operating results for the year ended December 31, 2010. Three Months Ended December 31, 2010 Net Revenues Our net patient service revenue decreased by $2.3 million, or 2.5%, to $87.1 million for the three months ended December 31, 2010, as compared to the same period in 2009. Patient days in …

Canvas-CMS1500-HEALTH-INSURANCE-CLAIM-FORM Black Berry.mp4 – Mobile App – GoCanvas.com

Question: SYEP job for 2009 (summer youth employment program)?

ok so i am a 14 year old teen who applied for summer youth this yeah….ive done the entire application online and i have my working papers but i have a few questions

When does the lottery begin, is it exactly after the deadline?

How will they contact me if i am selected?

My provider is a hospital…will i get at job filing papers there…OR will they direct me to some place else?

Oh yeah..is it true that if you are not selected in the lottery you can still be picked..IF those chosen do not show up?

How much will we make…i know its up to 25 hours per week, but is it 7.25 or 7.50 an hour——exactly how much will be taken off for for medical and social security tax

Thanks and good luck to all who applied

Answer: I think lottery will begin after the deadline. If you applied online you will receive a receipt.

You can check to see if your application got selected from this site, just log in with your SYEP ID. https://application.nycsyep.com/

Yes, you might get the “chance” to get selected if someone does not show up. This might happen a week after the program has already started or so.

You can earn 7.25 an hour. Not sure how much will be taken off but should be around 300-400.

Deadline looms to appeal your home’s new Mecklenburg County tax value

The deadline to appeal your home’s new Mecklenburg County tax value is March 10. Search the Observer’s databases for more info on home values on your street and beyond.

NBR | Tax Tip #9 Tax Year 2009 – Deadlines and Withholdings | PBS

Calendar

Submissions for the Community Calendar are required 10 days preceding the date of publication. Send to: Pioneer Press, 3701 W. Lake Ave., Glenview IL 60026. Information may be faxed to (847) 486-7495 or e-mailed to mbottari@pioneerlocal.com.

Federal Tax Update – Part 1 CPE Link Webcast Preview (Vern Hoven)

Question: In Australia what date do I need to pay income tax by. Does it vary depending on when I lodge my return?

and what is the rate of interest i have to pay if it is late? thanks

Answer: 31 October if you lodge your own return and are not registered with a tax agent/accountant by that date. If you are registered with a tax agent then your due date will depend on your circumstances and may be in March- June 2009 – ask them. The ATO charge around 13% interest on overdue tax but generally remit the interest charge if the amount owing is less than $2000.

Medusa Mining Ltd – Highlights of Half Yearly Report

Medusa Mining Ltd – Highlights of Half Yearly Report

How to file your tax return with taxback.com