U.S. Sen. Kay R. Hagan (D—N.C.) on Friday, Feb. 17, voted to extend the payroll tax cut through the end of the year for 4.7 million North Carolinians. The vote also extended enhanced unemployment benefits through the end of 2012. The measure passed the Senate 60 to 36 and will now go to the President’s desk for signature.
“Today I was proud to vote to extend the payroll tax cut for working, middle-class Americans that will benefit 4.7 million North Carolinians and ensure an extra $900 in the pockets of our hardworking families this year,” said Hagan. “With families still struggling to make ends meet, this extra money will go along way in helping to afford necessities such as groceries, gas and school supplies. While the entire final bill may not be perfect, I am pleased that Congress reached a bipartisan compromise that didn’t bring Congress again to the 11th hour, leaving middle-class families hanging in the balance.
“With North Carolina's unemployment rate at nearly 10 percent, the unemployment insurance represents a lifeline for many of our families who are trying to get back on their feet.”
To see an interactive map of how families in your county will save from this measure, click here.
See what ended up on The News of Orange County's cutting room floor.
Showing posts with label tax. Show all posts
Showing posts with label tax. Show all posts
Wednesday, February 22, 2012
Price supports payroll tax cut extension
Rep. David Price (NC-04) issued the following statement Friday, Feb. 17, after voting in favor of legislation to extend the Obama Administration’s payroll tax holiday and unemployment benefits for millions of Americans who have lost their jobs as a result of the recession. The measure—which will add an average of $1,000 to the paychecks of 160 million working Americans and inject $100 billion into the economy—also avoids an impending cut in Medicare payments to doctors, ensuring that millions of seniors will not lose access to affordable health care.
Although Price expressed strong support for the payroll tax cut, unemployment insurance and Medicare doctors provisions, he also criticized congressional Republicans’ insistence on offsetting the cost of these measures by increasing federal employees’ contributions to their pension funds, reducing Medicare payments to hospitals and laboratory service providers, and rescinding funding from a key provision of the Affordable Care Act.
“I am proud to stand with the President and working Americans today by supporting this measure, which will add an average of $1,000 to the paychecks of working North Carolinians this year, extend unemployment benefits for Americans who have lost jobs through no fault of their own and ensure seniors on Medicare will be able to see their doctors," Price said. "After a year in which Republicans in Congress took the country from one manufactured crisis to the next, this bipartisan agreement is a step in the right direction—and at a time when so many families are still struggling to make ends meet, it may be our last chance to help revive the economy as we head into an election year.
“... I cannot in good conscience oppose a measure that puts money in the pockets of American workers, protects our fragile economic recovery and maintains the safety net for unemployed workers and health care for seniors. But we simply must do better if we are to maintain the promise of expanding opportunity for working and middle class Americans.”
Although Price expressed strong support for the payroll tax cut, unemployment insurance and Medicare doctors provisions, he also criticized congressional Republicans’ insistence on offsetting the cost of these measures by increasing federal employees’ contributions to their pension funds, reducing Medicare payments to hospitals and laboratory service providers, and rescinding funding from a key provision of the Affordable Care Act.
“I am proud to stand with the President and working Americans today by supporting this measure, which will add an average of $1,000 to the paychecks of working North Carolinians this year, extend unemployment benefits for Americans who have lost jobs through no fault of their own and ensure seniors on Medicare will be able to see their doctors," Price said. "After a year in which Republicans in Congress took the country from one manufactured crisis to the next, this bipartisan agreement is a step in the right direction—and at a time when so many families are still struggling to make ends meet, it may be our last chance to help revive the economy as we head into an election year.
“... I cannot in good conscience oppose a measure that puts money in the pockets of American workers, protects our fragile economic recovery and maintains the safety net for unemployed workers and health care for seniors. But we simply must do better if we are to maintain the promise of expanding opportunity for working and middle class Americans.”
Tuesday, February 21, 2012
Applicants needed for Orange County Board of Equalization and Review
One major way citizens can have a positive impact on the future of Orange County is to volunteer to serve on the various county advisory boards and commissions.
The Orange County Board of Commissioners is currently recruiting for the Orange County Board of Equalization and Review. This board hears appeals from citizens who are protesting assessed property values. The Board of Equalization and Review is charged with ensuring that all taxable property is appraised according to the standards required by the General Statutes of North Carolina.
The Orange County Board of Equalization and Review will meet up to three days per week for approximately three to four hours per meeting for up to three consecutive months (April through June). Members will be paid for all meetings attended.
Interested Orange County residents with knowledge of real estate are encouraged to apply. Other interested residents will also be given consideration. If interested, apply at www.co.orange.nc.us/boards.
Select "Equalization and Review Board" under "Boards and Commissions Listing." For additional information or call Donna Baker (919) 245-2130 or Jeanette Jones (919) 245-2125.
With more than 20 different boards and commissions, volunteers appointed by the Board of County Commissioners have an opportunity to influence the way of life in Orange County.
The Orange County Board of Commissioners is currently recruiting for the Orange County Board of Equalization and Review. This board hears appeals from citizens who are protesting assessed property values. The Board of Equalization and Review is charged with ensuring that all taxable property is appraised according to the standards required by the General Statutes of North Carolina.
The Orange County Board of Equalization and Review will meet up to three days per week for approximately three to four hours per meeting for up to three consecutive months (April through June). Members will be paid for all meetings attended.
Interested Orange County residents with knowledge of real estate are encouraged to apply. Other interested residents will also be given consideration. If interested, apply at www.co.orange.nc.us/boards.
Select "Equalization and Review Board" under "Boards and Commissions Listing." For additional information or call Donna Baker (919) 245-2130 or Jeanette Jones (919) 245-2125.
With more than 20 different boards and commissions, volunteers appointed by the Board of County Commissioners have an opportunity to influence the way of life in Orange County.
Thursday, January 26, 2012
Orange County extends tax listing deadline
The Board of County Commissioners for Orange County voted to extend the property tax listing deadline for 2012. The listing deadline is usually the last day of January. Due to a delay in mailing notifications, the deadline has been extended 30 days.
The deadline for Orange County property owners for listing property for taxation in 2012 has been extended until Feb. 29, 2012.
The deadline for Orange County property owners for listing property for taxation in 2012 has been extended until Feb. 29, 2012.
Monday, January 23, 2012
State to help taxpayers with individual income debt payment program
Gov. Bev Perdue announced Wednesday, Jan. 18, that the North Carolina Department of Revenue is launching the Individual Income Tax Debt Payment Program to help individuals catch up on unpaid taxes.
This time-limited program will help individuals resolve unpaid taxes and get back on their feet financially by waiving certain penalties and fees and offering payment plan options. Participating taxpayers can avoid forced collections such as garnishments, liens and levies.
“This is exactly the type of program we need to help our fellow North Carolinians down the path to economic recovery,” said Gov. Bev Perdue. “We are making it easier for our citizens to work with state government.”
The program provides a favorable and easy payment opportunity for taxpayers who have accrued debt, often because of a weakened economy. Eligible taxpayers could save as much as 35 to 40 percent by participating in the program.
The debt payment program ends April 30.
Any taxpayer who has properly filed their tax returns with NCDOR and has received a notice for unpaid taxes prior to Jan. 1, 2012, may participate. A taxpayer who has not filed a return, does not currently have an outstanding tax liability or is the subject of an ongoing criminal investigation or prosecution is not eligible.
In exchange for a taxpayer paying the balance of tax and interest owed by April 30, NCDOR will waive certain, unpaid civil penalties and fees.
“We are excited to offer this payment program to our citizens,” said Secretary of Revenue David Hoyle. “It will help them resolve their tax liabilities easily and have a fresh start in 2012.”
Anyone interested in participating should contact the NCDOR local service center nearest them or call 1-877-252-4983. For detailed information about the program, please visit the North Carolina Department of Revenue website.
This time-limited program will help individuals resolve unpaid taxes and get back on their feet financially by waiving certain penalties and fees and offering payment plan options. Participating taxpayers can avoid forced collections such as garnishments, liens and levies.
“This is exactly the type of program we need to help our fellow North Carolinians down the path to economic recovery,” said Gov. Bev Perdue. “We are making it easier for our citizens to work with state government.”
The program provides a favorable and easy payment opportunity for taxpayers who have accrued debt, often because of a weakened economy. Eligible taxpayers could save as much as 35 to 40 percent by participating in the program.
The debt payment program ends April 30.
Any taxpayer who has properly filed their tax returns with NCDOR and has received a notice for unpaid taxes prior to Jan. 1, 2012, may participate. A taxpayer who has not filed a return, does not currently have an outstanding tax liability or is the subject of an ongoing criminal investigation or prosecution is not eligible.
In exchange for a taxpayer paying the balance of tax and interest owed by April 30, NCDOR will waive certain, unpaid civil penalties and fees.
“We are excited to offer this payment program to our citizens,” said Secretary of Revenue David Hoyle. “It will help them resolve their tax liabilities easily and have a fresh start in 2012.”
Anyone interested in participating should contact the NCDOR local service center nearest them or call 1-877-252-4983. For detailed information about the program, please visit the North Carolina Department of Revenue website.
Monday, January 16, 2012
IRS Offers top 10 tax-time tips
The income tax filing season has begun, and important tax documents should be arriving in your mailbox. Even though your return is not due until April, you can make tax time easier on yourself with an early start. Here are the Internal Revenue Service’s top 10 tips to ensure a smooth tax-filing process.
1. Gather your records. Round up any documents you’ll need when filing your taxes: receipts, canceled checks and other documents that support income or deductions you’re claiming on your return.
2. Be on the lookout. W-2s and 1099s will be coming soon; you’ll need these to file your tax return.
3. Have a question? Use the Interactive Tax Assistant available on the IRS website to find answers to your tax questions about credits, deductions, general filing questions and more.
4. Use Free File. Let Free File do the hard work for you with brand-name tax software or online fillable forms. It's available exclusively at www.irs.gov. Everyone can find an option to prepare their tax return and e-file it for free. If you made $57,000 or less, you qualify to use free tax software offered through a private-public partnership with manufacturers. If you made more or are comfortable preparing your own tax return, there's Free File Fillable Forms, the electronic versions of IRS paper forms. Visit www.irs.gov/freefile to review your options.
5. Try IRS e-file. IRS e-file is the safe, easy and most common way to file a tax return. Last year, 79 percent of taxpayers—106 million people—used IRS e-file. Many tax preparers are now required to use e-file. If you owe taxes, you have payment options to file immediately and pay by the tax deadline. Best of all, the IRS issues refunds to 98 percent of electronic filers by direct deposit within 14 days, if there are no problems, and some may be issued in as few as 10 days.
6. Consider other filing options. There are many options for filing your tax return. You can prepare it yourself or go to a tax preparer. You may be eligible for free face-to-face help at a volunteer site. Give yourself time to weigh all the options and find the one that best suits your needs.
7. Consider direct deposit. If you elect to have your refund directly deposited into your bank account, you’ll receive it faster than a paper check in the mail.
8. Visit the official IRS website often. The IRS website at www.irs.gov is a great place to find everything you need to file your tax return: forms, publications, tips, answers to frequently asked questions and updates on tax law changes.
9. Remember this number: 17. Check out IRS Publication 17, Your Federal Income Tax, on the IRS website. It’s a comprehensive resource for taxpayers, highlighting everything you’ll need to know when filing your return.
10. Review! Review! Review! Don’t rush. We all make mistakes when we rush. Mistakes slow down the processing of your return. Be sure to double-check all the Social Security numbers and math calculations on your return, as these are the most common errors. Don’t panic! If you run into a problem, remember the IRS is here to help. Start with www.irs.gov.
1. Gather your records. Round up any documents you’ll need when filing your taxes: receipts, canceled checks and other documents that support income or deductions you’re claiming on your return.
2. Be on the lookout. W-2s and 1099s will be coming soon; you’ll need these to file your tax return.
3. Have a question? Use the Interactive Tax Assistant available on the IRS website to find answers to your tax questions about credits, deductions, general filing questions and more.
4. Use Free File. Let Free File do the hard work for you with brand-name tax software or online fillable forms. It's available exclusively at www.irs.gov. Everyone can find an option to prepare their tax return and e-file it for free. If you made $57,000 or less, you qualify to use free tax software offered through a private-public partnership with manufacturers. If you made more or are comfortable preparing your own tax return, there's Free File Fillable Forms, the electronic versions of IRS paper forms. Visit www.irs.gov/freefile to review your options.
5. Try IRS e-file. IRS e-file is the safe, easy and most common way to file a tax return. Last year, 79 percent of taxpayers—106 million people—used IRS e-file. Many tax preparers are now required to use e-file. If you owe taxes, you have payment options to file immediately and pay by the tax deadline. Best of all, the IRS issues refunds to 98 percent of electronic filers by direct deposit within 14 days, if there are no problems, and some may be issued in as few as 10 days.
6. Consider other filing options. There are many options for filing your tax return. You can prepare it yourself or go to a tax preparer. You may be eligible for free face-to-face help at a volunteer site. Give yourself time to weigh all the options and find the one that best suits your needs.
7. Consider direct deposit. If you elect to have your refund directly deposited into your bank account, you’ll receive it faster than a paper check in the mail.
8. Visit the official IRS website often. The IRS website at www.irs.gov is a great place to find everything you need to file your tax return: forms, publications, tips, answers to frequently asked questions and updates on tax law changes.
9. Remember this number: 17. Check out IRS Publication 17, Your Federal Income Tax, on the IRS website. It’s a comprehensive resource for taxpayers, highlighting everything you’ll need to know when filing your return.
10. Review! Review! Review! Don’t rush. We all make mistakes when we rush. Mistakes slow down the processing of your return. Be sure to double-check all the Social Security numbers and math calculations on your return, as these are the most common errors. Don’t panic! If you run into a problem, remember the IRS is here to help. Start with www.irs.gov.
Wednesday, December 28, 2011
Get a jumpstart on taxes—some tips from the IRS
Plan now and be ready for tax time, the Internal Revenue Service says.
“During the final month of the 2011 tax year, you may want to set aside a moment during the busy holiday season to consider some quick IRS tips that may give you the gift of time and money saved next year,” North Carolina and South Carolina IRS Spokesperson Mark Hanson said.
Get your tax records together
With the current tax year winding down, the Internal Revenue Service is encouraging taxpayers to gather and organize their tax records now to reduce stress at tax time. Generally, tax records should be kept for three years, but some documents—for example, records relating to a home purchase or sale, stock transactions, IRAs and business or rental property—should be kept longer. For more information see IRS Publication 552, Recordkeeping for Individuals.
Get help estimating how much money you should have withheld each pay day
Go to IRS.gov for the IRS Withholding Calculator. This online program will help employees ensure that they don’t have too much or too little income tax withheld from their pay. It’s especially worthwhile to check your withholding if your marital status, number of dependents or employment status changed in 2011.
Get proper documentation for your contributions to charities
To deduct any charitable donation of money, a taxpayer must have a bank record or, in the case of cash contributions, a written communication from the qualifying charity showing the name of the charity and the date and amount of the contribution. A bank record includes canceled checks, bank or credit union statements, and credit card statements.
Get the most out of your retirement accounts
Are you maximizing your contributions to your retirement accounts? This year, you can contribute up to $5,000 in an IRA, as well as another $16,500 to a 401(k) employer plan. If you’re 50 or older, those numbers go up to $6,000 and $22,000, respectively. The Saver’s credit for low- and moderate-income workers helps offset part of the first $2,000 workers voluntarily contribute to IRAs and to 401(k) plans and similar workplace retirement programs.
Get credit for qualifying home improvements
Did you make some energy-efficient home improvements like adding insulation, new windows or an energy-efficient heating or cooling system in 2011? If so, you may qualify for up to a $500 tax credit.
Note: Qualifying improvements must be placed into service to the taxpayer’s principal residence located in the United States before Jan. 1, 2012.
You can learn more at www.irs.gov KEYWORD: “Energy.”
Get your guard up against tax scams
The IRS does not send out unsolicited email messages. Email messages claiming to be from the IRS are probably phishing scams. Recipients of such emails are urged not to open attachments, click on links, reply with personal information or complete any other activity that could compromise their computer’s security and lead to identity theft or worse.
“Remember, if the IRS needs to contact you, we’ll probably do it the good, old-fashioned way by sending you a letter via the U.S. Postal Service. Taxpayers have the right to confirm that any correspondence they receive claiming to be from the IRS is legitimate--just give us a call at 1-800-829-1040” Hanson said.
Get ready to e-file and learn how you can do it for free
E-file is the safe, accurate way taxpayers to quickly complete their taxes and make certain to take advantage of credits and deductions that may apply.
“More than 70 percent of taxpayers in the Carolinas (adjusted gross income less than $58,000) can use free online software to prepare and e-file their return using the Traditional Free File program. All taxpayer, regardless of income, can use Free File Fillable Forms, the other IRS Free File program. For more information, simply go to IRS.gov and click on the ‘Free File’ logo,” Hanson said.
Get information about the Earned Income Tax Credit
Wondering if you might benefit from the Earned Income Tax Credit, which is available to low- and moderate-income workers? Use the “EITC Assistant” at IRS.gov to determine if you are eligible, your filing status and if you have any qualifying children for EITC purposes.
Taxpayers who earn less than $44,000 in 2011 may be eligible for a refundable tax credit of up to $5,751.
Four of five eligible workers claim and get their EITC. The IRS wants to raise that number to five out of five.
“If you qualify, make sure you don’t miss out,” Hanson said.
Get information about the Volunteer Income Tax Assistance program’s free services and volunteer opportunities
If you earn less than $49,000 in 2011, you may be eligible to have IRS-trained volunteers prepare and e-file your tax return free of charge. VITA centers are sponsored by community groups throughout the Carolinas. To learn more, visit www.irs.gov KEYWORD: “VITA” or call 1-800-906-9887.
Interested in helping out in your community by preparing taxes free of charge? The VITA program is seeking volunteers. To help at a VITA location near you, send an email to the IRS at taxvolunteer@irs.gov indicating the city and state where you want to become a volunteer. Training is provided.
Get the services of a reliable tax professional (if necessary)
If you plan to pay someone to do your tax return, choose a tax preparer wisely. You are legally responsible for what’s on your tax returns even if they are prepared by someone else. So, it’s important to find a qualified tax professional.
New regulations effective in 2011 require all paid tax return preparers—including attorneys, CPAs and enrolled agents—to have a Preparer Tax Identification Number (PTIN).
Reputable preparers will ask multiple questions to determine whether expenses, deductions and other items qualify and remind clients that they need to keep careful and complete records in order to substantiate information on their tax return. By doing so, they have your best interest in mind and are trying to help you avoid penalties, interest or additional taxes that could result from later IRS contacts.
The IRS offers other tips for choosing a tax preparer at www.irs.gov KEYWORD: “Choosing a tax preparer.”
Get connected with the IRS using social media sites and smartphone apps
The IRS is on Twitter and YouTube. For IRS news and guidance for the public, the press and practitioners, follow @IRSnews on Twitter. For IRS news and guidance for tax professionals, follow @IRStaxpros on Twitter. To watch videos produced by the IRS on various tax administration topics, visit the IRS YouTube channel at http://www.youtube.com/irsvideos.
Want mobile IRS info? There’s an app for that. Download “IRS2Go” for Android or iPhone. It’s free and you can use it to check your refund status after you file.
Get an email subscription to IRS Tax Tips
During the tax-filing season, the IRS provides daily tax tips. You can sign-up to have these delivered directly to your email inbox. The IRS also provides summertime tax tips and special edition tax tips on important tax topics. To learn more, visit www.irs.gov KEYWORD: “Tax Tips.”
“During the final month of the 2011 tax year, you may want to set aside a moment during the busy holiday season to consider some quick IRS tips that may give you the gift of time and money saved next year,” North Carolina and South Carolina IRS Spokesperson Mark Hanson said.
Get your tax records together
With the current tax year winding down, the Internal Revenue Service is encouraging taxpayers to gather and organize their tax records now to reduce stress at tax time. Generally, tax records should be kept for three years, but some documents—for example, records relating to a home purchase or sale, stock transactions, IRAs and business or rental property—should be kept longer. For more information see IRS Publication 552, Recordkeeping for Individuals.
Get help estimating how much money you should have withheld each pay day
Go to IRS.gov for the IRS Withholding Calculator. This online program will help employees ensure that they don’t have too much or too little income tax withheld from their pay. It’s especially worthwhile to check your withholding if your marital status, number of dependents or employment status changed in 2011.
Get proper documentation for your contributions to charities
To deduct any charitable donation of money, a taxpayer must have a bank record or, in the case of cash contributions, a written communication from the qualifying charity showing the name of the charity and the date and amount of the contribution. A bank record includes canceled checks, bank or credit union statements, and credit card statements.
Get the most out of your retirement accounts
Are you maximizing your contributions to your retirement accounts? This year, you can contribute up to $5,000 in an IRA, as well as another $16,500 to a 401(k) employer plan. If you’re 50 or older, those numbers go up to $6,000 and $22,000, respectively. The Saver’s credit for low- and moderate-income workers helps offset part of the first $2,000 workers voluntarily contribute to IRAs and to 401(k) plans and similar workplace retirement programs.
Get credit for qualifying home improvements
Did you make some energy-efficient home improvements like adding insulation, new windows or an energy-efficient heating or cooling system in 2011? If so, you may qualify for up to a $500 tax credit.
Note: Qualifying improvements must be placed into service to the taxpayer’s principal residence located in the United States before Jan. 1, 2012.
You can learn more at www.irs.gov KEYWORD: “Energy.”
Get your guard up against tax scams
The IRS does not send out unsolicited email messages. Email messages claiming to be from the IRS are probably phishing scams. Recipients of such emails are urged not to open attachments, click on links, reply with personal information or complete any other activity that could compromise their computer’s security and lead to identity theft or worse.
“Remember, if the IRS needs to contact you, we’ll probably do it the good, old-fashioned way by sending you a letter via the U.S. Postal Service. Taxpayers have the right to confirm that any correspondence they receive claiming to be from the IRS is legitimate--just give us a call at 1-800-829-1040” Hanson said.
Get ready to e-file and learn how you can do it for free
E-file is the safe, accurate way taxpayers to quickly complete their taxes and make certain to take advantage of credits and deductions that may apply.
“More than 70 percent of taxpayers in the Carolinas (adjusted gross income less than $58,000) can use free online software to prepare and e-file their return using the Traditional Free File program. All taxpayer, regardless of income, can use Free File Fillable Forms, the other IRS Free File program. For more information, simply go to IRS.gov and click on the ‘Free File’ logo,” Hanson said.
Get information about the Earned Income Tax Credit
Wondering if you might benefit from the Earned Income Tax Credit, which is available to low- and moderate-income workers? Use the “EITC Assistant” at IRS.gov to determine if you are eligible, your filing status and if you have any qualifying children for EITC purposes.
Taxpayers who earn less than $44,000 in 2011 may be eligible for a refundable tax credit of up to $5,751.
Four of five eligible workers claim and get their EITC. The IRS wants to raise that number to five out of five.
“If you qualify, make sure you don’t miss out,” Hanson said.
Get information about the Volunteer Income Tax Assistance program’s free services and volunteer opportunities
If you earn less than $49,000 in 2011, you may be eligible to have IRS-trained volunteers prepare and e-file your tax return free of charge. VITA centers are sponsored by community groups throughout the Carolinas. To learn more, visit www.irs.gov KEYWORD: “VITA” or call 1-800-906-9887.
Interested in helping out in your community by preparing taxes free of charge? The VITA program is seeking volunteers. To help at a VITA location near you, send an email to the IRS at taxvolunteer@irs.gov indicating the city and state where you want to become a volunteer. Training is provided.
Get the services of a reliable tax professional (if necessary)
If you plan to pay someone to do your tax return, choose a tax preparer wisely. You are legally responsible for what’s on your tax returns even if they are prepared by someone else. So, it’s important to find a qualified tax professional.
New regulations effective in 2011 require all paid tax return preparers—including attorneys, CPAs and enrolled agents—to have a Preparer Tax Identification Number (PTIN).
Reputable preparers will ask multiple questions to determine whether expenses, deductions and other items qualify and remind clients that they need to keep careful and complete records in order to substantiate information on their tax return. By doing so, they have your best interest in mind and are trying to help you avoid penalties, interest or additional taxes that could result from later IRS contacts.
The IRS offers other tips for choosing a tax preparer at www.irs.gov KEYWORD: “Choosing a tax preparer.”
Get connected with the IRS using social media sites and smartphone apps
The IRS is on Twitter and YouTube. For IRS news and guidance for the public, the press and practitioners, follow @IRSnews on Twitter. For IRS news and guidance for tax professionals, follow @IRStaxpros on Twitter. To watch videos produced by the IRS on various tax administration topics, visit the IRS YouTube channel at http://www.youtube.com/irsvideos.
Want mobile IRS info? There’s an app for that. Download “IRS2Go” for Android or iPhone. It’s free and you can use it to check your refund status after you file.
Get an email subscription to IRS Tax Tips
During the tax-filing season, the IRS provides daily tax tips. You can sign-up to have these delivered directly to your email inbox. The IRS also provides summertime tax tips and special edition tax tips on important tax topics. To learn more, visit www.irs.gov KEYWORD: “Tax Tips.”
Friday, October 7, 2011
Quarter-cent sales tax increase on November ballot
On Election Day, Tuesday, Nov. 8, registered voters in Orange County will have the opportunity to vote for or against the quarter-cent sales and use tax. If approved, every $100 spent by shoppers in Orange County will generate 25 cents for education and economic development. Around $2.5 million would be generated in one year based on current projections. The proposed sales tax would not apply to groceries, gasoline and prescription medicines.
If approved, one half of the revenues will be distributed to county and city schools on a per pupil basis for facility improvement of older schools and the purchase of technology. The other half of the revenues will help grow business through a sustainable and well-managed economic development plan that fits the unique and diverse Orange County community. The blueprint for attracting and expanding strong business in Orange County would include funds for entrepreneurs, small business loans, innovation centers for new businesses and support for agriculture businesses. Funds will also be used to improve vital county infrastructure that underpin a robust business environment such as utilities, water and sewer. The focus on directing funds for schools and jobs is a 10-year commitment by the Orange County Commissioners.
The proposed sales tax would apply to people who shop in Orange County including visitors, tourists and temporary residents. Annually, visitors to Orange County generate nearly 20 percent of the sales tax revenue. The proposed sales tax will help diversify the tax base and share some of the tax burden currently shouldered by home-owners paying property taxes. If approved, the quarter-cent sales tax is targeted to begin April 1, 2012.
The wording for the proposed quarter-cent sales tax on the Tuesday, Nov. 8, ballot will be: For or Against.
Local sales and use tax at the rate of one-quarter percent (0.25%) in addition to all other state and local sales and use taxes.
Voters are encouraged to learn more by going to the county website or calling the county office at 245-2307.
If approved, one half of the revenues will be distributed to county and city schools on a per pupil basis for facility improvement of older schools and the purchase of technology. The other half of the revenues will help grow business through a sustainable and well-managed economic development plan that fits the unique and diverse Orange County community. The blueprint for attracting and expanding strong business in Orange County would include funds for entrepreneurs, small business loans, innovation centers for new businesses and support for agriculture businesses. Funds will also be used to improve vital county infrastructure that underpin a robust business environment such as utilities, water and sewer. The focus on directing funds for schools and jobs is a 10-year commitment by the Orange County Commissioners.
The proposed sales tax would apply to people who shop in Orange County including visitors, tourists and temporary residents. Annually, visitors to Orange County generate nearly 20 percent of the sales tax revenue. The proposed sales tax will help diversify the tax base and share some of the tax burden currently shouldered by home-owners paying property taxes. If approved, the quarter-cent sales tax is targeted to begin April 1, 2012.
The wording for the proposed quarter-cent sales tax on the Tuesday, Nov. 8, ballot will be: For or Against.
Local sales and use tax at the rate of one-quarter percent (0.25%) in addition to all other state and local sales and use taxes.
Voters are encouraged to learn more by going to the county website or calling the county office at 245-2307.
Monday, February 28, 2011
Note to taxpayers mailing paper returns: address change
The Internal Revenue Service today announced that taxpayers in North Carolina and South Carolina who file paper income tax returns will send them to different processing centers this year.
“During 2011, taxpayers in the Carolinas seeking refunds will send their tax returns to the IRS Kansas City Service Center, Kansas City, Mo. Those making payments will send them to Hartford, Conn,” said Mark Hanson, IRS spokesperson.
The IRS continuously monitors work flow at its centers and makes appropriate adjustments by altering the volume of returns to be sent to each. Taxpayers who use the envelope provided with the income tax instructions do not have to be concerned with the address change; their returns automatically will go to the correct center.
Taxpayers who e-file will not be affected by the address changes. Two out of three filers choose IRS e-file; it’s faster, easier, more accurate and more convenient than filing a paper tax return.
For taxpayers who file paper returns, the service center addresses are on the back cover of the instructions to Form1040, Form 1040A and Form 1040EZ.
“During 2011, taxpayers in the Carolinas seeking refunds will send their tax returns to the IRS Kansas City Service Center, Kansas City, Mo. Those making payments will send them to Hartford, Conn,” said Mark Hanson, IRS spokesperson.
The IRS continuously monitors work flow at its centers and makes appropriate adjustments by altering the volume of returns to be sent to each. Taxpayers who use the envelope provided with the income tax instructions do not have to be concerned with the address change; their returns automatically will go to the correct center.
Taxpayers who e-file will not be affected by the address changes. Two out of three filers choose IRS e-file; it’s faster, easier, more accurate and more convenient than filing a paper tax return.
For taxpayers who file paper returns, the service center addresses are on the back cover of the instructions to Form1040, Form 1040A and Form 1040EZ.
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