December 2008
You are browsing the archive for December 2008.
Adoption Benefits Increased
For 2008, the maximum adoption credit has increased to $11,650. Also, the maximum exclusion from income for benefits under your employer’s adoption assistance program has increased to $11,650. These amounts are phased out if your modified adjusted gross income (MAGI) is between $174,730 and $214,730.
2008 IRS Tax Refund Cycle Chart
Tax Refund Cycle Chart for your 2008 tax refunds. Taxpayers who e-file can get tax refund information 72 hours after the tax return is acknowledged as accepted by the IRS. When you look at the Refund Cycle Chart use the date your return was accepted and not the date you sent your return using efile.
2008 Earned Income Credit Changes
The following paragraphs explain the changes to the credit for 2008. Amount of credit increased The maximum amount of the credit has increased. The most you can get is: $2,917 if you have one qualifying child, $4,824 if you have more than one qualifying child, or $438 if you do not have a qualifying child.
IRS Speeds Tax Lien Relief for Homeowners
IRS Speeds Lien Relief for Homeowners Trying to Refinance, Sell WASHINGTON — The Internal Revenue Service today announced an expedited process that will make it easier for financially distressed homeowners to avoid having a federal tax lien block refinancing of mortgages or the sale of a home. If taxpayers are looking to refinance or sell [...]
