Posts Tagged ‘Filing’

Breastfeeding Pumps Now Deductible, IRS Rules

Wednesday, February 16th, 2011

Breast pumps and other lactation supplies are now tax deductible as medical expenses, the Internal Revenue Service said Thursday, reversing a long-held position.
The new ruling means that families can use pre-tax funds from their flexible spending accounts and health savings accounts for these supplies. Breast pumps typically cost more than $200 and, along with supplies, can run as high as $1,000 in the first year of a baby’s life.
Read More » [MSNBC]

For itemizers, IRS has set a tax-filing date of Feb. 14

Monday, January 24th, 2011

Taxpayers who claim itemized deductions will be able to file their federal tax returns starting Feb. 14, the IRS said Thursday.

While the tax-filing season began on Jan. 4, the IRS announced last year that taxpayers who itemize — which includes just about everyone who has a mortgage — would have to wait until at least mid-February to file.

Read Full Article » [USA Today]

How Long to Keep Tax Records

Wednesday, January 19th, 2011

You can toss some supporting documents, but you’ll need to hang onto others for years. This is a great time of the year to get rid of outdated files and to organize your records in preparation for filing your tax return in the spring.

Read more» [Kiplinger]

Taxpayers who itemize have to wait until February to file

Wednesday, January 5th, 2011

IRS Kicks off 2011 Tax Season with certain Taypayers unable to start filing until mid-to-late February summary- Taxpayers who itemize on their federal tax returns will have to wait until at least mid-February to file, the IRS said Thursday. The delay is necessary because the IRS needs time to program its systems to accommodate tax breaks included in a compromise tax bill President Obama signed last week.

Read original article » [USA Today]