TAX CALENDAR
APRIL 2013 April 15 Individuals. File a 2012 income tax return. If you want an automatic six-month extension of time to file the return, file Form 4868, Application for Automatic Extension of [...]
AMT Relief, Child Tax Credit, and More
AMT Relief, Child Tax Credit, and More The American Taxpayer Relief Act of 2012 is far ranging, with many other provisions that might affect taxpayers. They include the following: • Alternative [...]
Estate and Gift Taxes Have Been Clarified
A single, unified exemption is available to taxpayers for the estate and gift taxes. A taxpayer can use the exemption to offset otherwise taxable lifetime gifts, and the taxpayer’s estate can use [...]
Lower Incomes, Higher Taxes
As explained in the previous article, “Restoring a Higher Tax Bracket,” individuals with taxable income over $400,000 and married couples who exceed $450,000 generally will be the ones paying the [...]
Restoring a Higher Tax Bracket
For several years, through 2012, Americans paid income tax at six rates, ranging from 10% to 35%. Now, a higher rate has been added: 39.6%, which was the highest income tax rate as recently as [...]
Reducing Uncertainty, Increasing Complexity
Each April, most Americans file their income tax returns for the previous year. By this time next year, in April 2014, you’ll be filing your tax return for 2013—and the rules will be governed by [...]