Source: Internal Revenue Service (IRS)

Special Edition Tax Tip 2012-12

College-bound students and their parents sometimes face last minute requests to complete or provide additional information for financial aid applications.

The Internal Revenue wants to help by minimizing time spent on the completion of the Department of Education’s Free Application for Federal Student Aid (FAFSA). By using the IRS Data Retrieval Tool, applicants can automatically transfer required tax data from their federal tax returns directly to their FAFSA form.

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Source: Internal Revenue Service (IRS)

IRS Summertime Tax Tip 2012-17

If you are able to itemize your deductions on your tax return instead of claiming the standard deduction, you may be able to claim certain miscellaneous deductions. A tax deduction reduces the amount of your taxable income and generally reduces the amount of taxes you may have to pay.

Here are some things you should know about miscellaneous tax deductions:

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Source: internal Revenue Service (IRS)

IRS Summertime Tax Tip 2012-10

The IRS uses a variety of technologies to help you get the tax information you need. Here are six ways the IRS uses social media to share information on tax changes, initiatives, products and services:

 

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Soruce: Internal Revenue Service (IRS): http://www.irs.gov/newsroom/article/0,,id=258312,00.html

IRS Summertime Tax Tip 2012-06

Summertime is the season that often leads to major life decisions, such as buying a home, moving or a job change. If you are looking for a new job that is in the same line of work, you may be able to deduct some of your job hunting expenses on your federal income tax return.

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Source: Internal Revenue Service (IRS): http://www.irs.gov/newsroom/article/0,,id=258252,00.html

IRS Summertime Tax Tip 2012-01

As the calendar moves closer to summer, many parents may be planning the time between school years for their children while they work or look for work. The IRS wants to remind taxpayers that are considering their summer agenda to keep in mind a tax credit that can help them offset some day camp expenses.

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