Philadelphia, PA
Probate Lawyer at Philadelphia, PA
Practice Areas: Probate, Estate Planning, Tax
REFUNDABLE CREDIT AND ITS LIMITS The Making Work Pay Credit provides a refundable tax credit of up to $400 for individuals and up to $800 for married taxpayers filing joint returns. PAYCHECKS MAY ALR...
See Full GuideQUALIFYING BY PAYING To qualify for either credit, you must pay postsecondary tuition and fees for yourself, your spouse or your dependent. WHO CAN CLAIM THE CREDIT The credit may be claimed by the p...
See Full GuideOVERPAYMENTS Four (4) percent for overpayments for individuals. In the case of corporations the overpayment interest rate will be three (3) percent. UNDERPAYMENTS The interest rate for underpayments...
See Full GuideMISMATCH PROBLEM A mismatch between the name shown on your tax return and the SSA records can cause problems in the processing of your return and may even delay your refund. TAKING SPOUSES LAST NAME ...
See Full GuideDEADLINE TO APPLY TO VCP TO CORRECT PLAN FAILURE TO ADOPT EGTRRA AMENDMENTS Plan sponsors applying to VCP to correct their plan failure of not adopting a pre-approved EGTRRA plan by the April 30, 201...
See Full GuideFIVE POSSIBLE WAYS TO FILE Single, Married Filing Jointly, Married Filing Separately, Head of Household and Qualifying Widow(er) with Dependent Child. LAST DAY OF YEAR DETERMINES FILING STATUS Your m...
See Full GuideAmount Taxable Dependent on Total Income and Marital Status How of your Social Security benefits are taxable depends on your total income and marital status. This rules and computations for determin...
See Full GuideOther Usual Requirements for Deductiblity Must Be Met If the remaining requirements of § 213(a) are met (for example, the taxpayer’s total medical expenses exceed 7.5 percent of adjusted gross income...
See Full GuideAmount of Credit With the Child Tax Credit, you may be able to reduce your federal income tax by up to $1,000 for each qualifying child under the age of 17. Qualification A qualifying child for this ...
See Full GuideSTEP 1: CONTACT YOUR EMPLOYER If you have not received your W-2, contact your employer to inquire if and when the W-2 was mailed. If it was mailed, it may have been returned to the employer because o...
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