Monthly Archives: January 2012

Tax Due Dates for January 2012

  January 10 Employees - who work for tips. If you received $20 or more in tips during December, report them to your employer. You can use Form 4070, Employee's Report of Tips to Employer. January 17 Employers - Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments…
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Filing Requirements for Dependents

Whether a dependent has to file a return generally depends on the amount of the dependent's earned and unearned income and whether the dependent is married, is age 65 or older, or is blind. Note: A dependent may have to file a return even if his or her income is less than the amount that would…
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Receive a Faster Refund with Direct Deposit

The New Year has arrived, which means . . . it's tax time! This year, do you want your refund faster? Have it deposited directly into your bank account. More taxpayers are choosing direct deposit as the way to receive their federal tax refunds. More than 78.4 million people had their tax refunds deposited directly…
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IRS Announces 2012 Standard Mileage Rates

Beginning January 1, 2012, the standard mileage rates for the use of a car (also vans, pickups, or panel trucks) became: 55.5 cents per mile for business miles driven 23 cents per mile driven for medical or moving purposes 14 cents per mile driven in service of charitable organizations The rate for business miles driven…
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