Taxes - My Tax Return

Insurance policy premiums paid for the protection of your business covering such situaitons as embezzlement, burglary, accident, fire, storm, theft, workman's compensation, and public liability, are business expenses and are deductible.

When hiring, it is illegal to discriminate based on age, race, color, sex, disability, or national origin. If you feel you have been discriminated against, contact the US Department of Labor Office at 1 866-487-2365.

You have three options for getting copies of your federal tax return information--tax return transcripts and tax account transcripts by phone, by mail, or online. The IRS online ordering method, Order a Transcript, is available and makes ordering simple. You may also request transcripts by calling 1-800-908-9946, or order by mail using IRS Form 4506-T. The IRS does not charge a fee for transcripts. A tax return transcript shows most line items from your tax return (Form 1040, 1040A or 1040EZ) as it was originally filed, including any accompanying forms and schedules. It does not reflect any changes you, your representative or the IRS made after the return was filed. A tax account transcript shows any later adjustments either you or the IRS made after the tax return was filed. This transcript shows basic data, including marital status, type of return filed, adjusted gross income and taxable income. If you need an exact copy of a previously filed and processed tax return and all attachments (including Form W-2), you should complete Form 4506, and mail it to the address listed in the instructions, along with a $57.00 fee for each tax period requested. The check or money order for the fee should be made payable to the "United States Treasury". Copies are generally available for returns filed in the current and past six years. Copies of jointly filed tax returns may be requested by either spouse and only one signature is required. Allow 60 calendar days to receive your copies.

You may request an installment agreement on IRS Form 9465. Interest and late payment penalties will be assessed for amounts not paid by the original due date, even if the installment agreement is accepted by the IRS.

If you are filing a joint tax return as a surviving spouse, you only need to file the joint tax return to claim the refund. If you are a court appointed representative, file the return and attach the certificate verifying your appointment. All other filers must file the return with IRS Form 1310. Speak to your local CPA about the filing requirements.

If your name or social security number on your social security card is incorrect, or if you need to speak to the Social Security Administration, the phone number is 1-800-772-1213.

Fund managers buy and sell stocks throughout the year. When the managers sell stocks with a large gain, that share of the capital gain must be allocated to you and everyone else in the fund even though the balance of the portfolio includes unrealized losses and the fund is down in value.

The amount of the annual rollover gain to an SSBIC is limited to $50,000 (25,000 if filing MFS).

In addition to the cash proceeds, you should include the unpaid balance of the mortgage as part of the sales price received on IRS Schedule D.