Increase in age of children whose investment income is taxed at parent’s rate. The rules regarding the age of a child whose investment income may be taxed at the parent’s tax rate will change for 2008. These rules will continue to apply to a child under age 18 at the end of the year but, [...]
Child’s Investment Income
By Admin on December 22, 2008
Posted in 2008 Changes | Tagged Child Investment Income, investment income Comments Off
Adoption Benefits Increased
By Admin on December 22, 2008
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.
Posted in 2008 Changes | Tagged 2008, adoption, adoption benefits Comments Off
2008 IRS Tax Refund Cycle Chart
By Admin on December 18, 2008
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.
Posted in Blog | Tagged 2008, 2009, refund cycle chart, tax refunds Comments Off
2008 Earned Income Credit Changes
By Admin on December 18, 2008
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.
Posted in 2008 Changes, Blog | Tagged 2008, 2008 earned income credit, Earned Income Credit, EIC, EIC chart, EIC table Comments Off
IRS Speeds Tax Lien Relief for Homeowners
By Admin on December 17, 2008
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 [...]
Posted in Tax News | Tagged homeowners, IRS, mortgages, tax lien Comments Off
Hawaii Taxes Year End Workshop Schedules
By Admin on October 26, 2008
HONOLULU—The Hawaii Department of Taxation’s Year-End Workshops for 2008 will begin on Kaua`i on Monday, November 24. Workshops on Maui and O`ahu, and in Kona and Hilo, will be held within the following weeks (see schedule on the following page). All workshops begin at 8:30 a.m. and end at 12:30 p.m. Topics include 2009 possible [...]
Posted in Hawaii Tax News | Tagged hawaii, Hawaii Department of Taxation, Hawaii Tax News, tax legislation Comments Off
