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Hawaii Dept of Taxation 2009 Year End Workshops
The Hawaii Department of Taxation will hold a series of year-end workshops around the state to provide tax professionals and the public with updates on tax legislation, changes to tax forms and current department initiatives to improve and streamline tax collections and overall department operations.
The first workshop will be held on Kaua`i on Monday, November [...]
Taxpayers Have Until Oct. 15 to File Extended 2008 Tax Returns
In most cases, Oct. 15, 2009, is the last day taxpayers may timely file their 2008 federal tax returns. The IRS expects to receive as many as 10 million tax returns from taxpayers who used Form 4868 to request a six-month extension to file their returns.
Deadline nears for Special Offshore Voluntary Disclosures
Under the special provisions issued in March, taxpayers with these accounts originally had until Sept. 23, 2009, to come forward. Those taxpayers who do not voluntarily disclose their offshore accounts by Oct. 15 face harsh civil penalties, where applicable, and possible criminal prosecution.
Hawaii’s Tax Fresh Start Program
The State of Hawaii Department of Taxation (“DOTAX”) announced that it is offering a “Tax Fresh Start Program”, running from May 27, 2009 through June 26, 2009. The program provides an opportunity for eligible taxpayers to pay their back taxes to the state while avoiding penalties and potentially avoiding referral for criminal prosecution. It also offers a 50% reduction in interest from the statutory rate of 8% per annum to 4% per annum. The program is available to all eligible taxpayers owing eligible Hawaii tax(es) for any taxable period ending…
Ten Last Minute Tax Filing Tips
With the tax filing deadline close at hand, the IRS offers ten tips for those still working on their tax returns:
File Electronically – Consider filing electronically instead of using paper tax forms. If you efile and choose direct deposit, you can receive your tax refund in as few as 10 days.
Check the [...]
Top Seven Facts About the Tuition and Fees Deduction
The Tuition and Fees deduction of up to $4,000 is available to help parents and students pay for post-secondary education. Below are ten important facts about this deduction every student and parent should know.
