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Archive for the ‘tax tips’ Category

irs-sealBy Gregg Semanick-New Jersey‘s IRS Spokesperson

During this time of year, tax scammers are prevalent. Remember, the IRS does not send out unsolicited e-mails to the public. Do not respond or open any attachments for e-mails received claiming to be the IRS. Forward the bogus e-mail to phishing@irs.gov for further investigation.

For more information on IRS tax tips, go to the IRS.gov web site at www.irs.gov.

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irs-sealBy Gregg Semanick-New Jersey‘s IRS Spokesperson

If you are looking for a new job or a career change, consider the IRS. No matter what your professional specialty, the IRS offers a variety of full-time careers or seasonal job opportunities. You can get information about careers, benefits, training and life at the IRS in the “Careers” section of IRS.gov Web site. Applying for an IRS position is easy; you can apply on-line through the www.usajobs.gov web site.

For more information on IRS tax tips, go to the IRS.gov web site at www.irs.gov.

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irs-sealBy Gregg Semanick-New Jersey‘s IRS Spokesperson

Gambling winnings are taxable and must be reported on your tax return. Gambling income includes winnings from lotteries, raffles, horse and dog races and casinos, as well as the fair market value of prizes such as cars, houses, trips or other noncash prizes. If you itemize deductions, you can deduct your gambling losses. You cannot deduct gambling losses that are more than your winnings.

For more information on IRS tax tips, go to the IRS.gov web site at www.irs.gov.

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irs-sealBy Gregg Semanick-New Jersey‘s IRS Spokesperson

Whether to itemize deductions on your tax return depends on how much you spent on certain expenses last year. Money paid for medical care, mortgage interest, taxes, charitable contributions, casualty losses and miscellaneous deductions can reduce your taxes. If the total amount spent on those categories is more than the standard deduction, you can usually benefit by itemizing. Consider e-filing your tax return to ensure you do not miss out on any deductions.

For more information on IRS tax tips, go to the IRS.gov web site at www.irs.gov.

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money-07By Felix Ramirez, The Tax Group

This headline was just received from the IRS. According to the note from the IRS, “Unclaimed refunds totaling approximately $1.3 billion are awaiting over a million people who did not file a federal income tax return for 2005, the Internal Revenue Service announced today. However, to collect the money, a return for 2005 must be filed with the IRS no later than Tuesday, April 15, 2009.”

It is a well known fact that many people do not file their tax returns. The IRS is reaching out to people asking them to review their records to make sure they don’t leave money on the table in these tough economic times. There are a total of 1,343,000 individuals who may get a refund just by claiming it through their filing. Of that total, 41,000 individuals live in NJ and have the potential of receiving more than $43 million dollars in refunds.

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irs-sealBy Gregg Semanick-New Jersey‘s IRS Spokesperson

The IRS offices located in Newark, Jersey City, Paterson, Trenton and Cherry Hill will be open on Saturday, March 21, from 9 a.m. to 2 p.m. to assist taxpayers with tax questions, tax issues and prepare basic tax returns. IRS staff will prepare basic tax returns for those who qualify for the Earned Income Tax Credit (EITC) or those whose income is less than $42,000. The IRS recognizes that many area taxpayers may be facing financial hardships and need extra help this tax filing season.

For the location of IRS offices go to the IRS.gov web site at www.irs.gov.

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irs-sealBy Gregg Semanick-New Jersey‘s IRS Spokesperson

Unclaimed refunds totaling approximately $43.8 million are awaiting over 41,000 New Jerseyans who did not file a federal income tax return for 2005. To collect the money, a return for 2005 must be filed with the IRS no later than April 15, 2009. If a return is not filed to claim the refund within three years of the return due date, the money becomes property of the U.S. Treasury. Current and prior year tax forms are available on the IRS.gov Web site or by calling 1-800-TAX-FORM (1-800-829-3676).

For more information on IRS tax tips, go to the IRS.gov web site at www.irs.gov.

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