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Taxation Legal News
E-File Returns Running At Record Pace
The Internal Revenue Service announced today that taxpayers are continuing to electronically file their tax returns at a record pace, up almost 6 percent from the same period last year.
“Taxpayers can rely on e-file as a safe, accurate way to quickly finish their taxes and get a refund,” said IRS Commissioner Mark W. Everson. “We encourage people to consider e-file and Free File as the tax deadline approaches. For those who haven’t filed, they should make sure to request the telephone excise tax refund if they are eligible.”
According to the new filing season statistics for the week ending March 23, 2007, one of the biggest areas of growth is in returns electronically filed from home. Self-prepared e-filed returns have grown more than 8 percent from last year. E-filed returns from tax professionals have climbed almost 5 percent.
So far this tax filing season, almost 72 percent of all returns have been e-filed, compared to 68 percent for the same period last year. As of last Friday, 29 percent of e-filed returns were filed by people using their home computers, up from 28 percent of e-filed returns for the same period last year. Read more at irs.gov.
Corporate Reorganizations; Transfers of Assets or Stock Following a Reorganization
These proposed regulations address the effect of transfers of the assets or the stock of parties to a reorganization pursuant to transactions intended to qualify as reorganizations within the meaning of section 368(a) of the Internal Revenue Code. REG-130863-04. Published August 17, 2004.
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News about Taxation cases in Fort Wayne and nationwide:
Definition:
A tax credit for certain people who work, meet certain requirements, and have earned income under a specified limit.
Form W-4, Employee's Withholding Allowance Certificate
Definition:
Completed by the employee and used by the employer to determine the amount of income tax to withhold.
Exemptions
Definition:
Amount that taxpayers can claim for themselves, their spouses, and eligible dependents. There are two types of exemptions-personal and dependency. Each exemption reduces the income subject to tax. The exemption amount is a set amount that changes from year to year.
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Bloomington
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East Chicago
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Fishers
Fort Wayne
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Goshen
Granger
Greenfield
Greenwood
Hobart
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Indianapolis
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Kokomo
La Porte
Lafayette
Logansport
Marion
Martinsville
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Michigan City
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Muncie
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Newburgh
Noblesville
Peru
Plainfield
Portage
Richmond
Seymour
Shelbyville
South Bend
Terre Haute
Valparaiso
Vincennes
West Lafayette
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