IRS Special Edition Tax Tip 2014-16: Get Credit for Child and Dependent Care This Summer

IRS Special Edition Tax Tip 2014-16: Get Credit for Child and Dependent Care This Summer

Announcement from the I.R.S. June 11, 2014 (link above)

Now that the kiddos are out of school, there is that little relief that you no longer have to wait in long lines to drop the children off, but they will probably need oversight while you or your spouse work, or look for work.

 Having to pay day care during the off-school months can hit an already tight budget hard. It will be a big help to at least receive tax credits for amounts paid during the 2014 tax year.

Summer daycare for dependents, which counts children under 13 years old, and any other Qualifying Dependent, who is your dependent or would be your dependent. 

• Perhaps your elderly father lives with you. You house him over 6 months of the year, you help him buy and attain medicine, take him to the doctor, help him with hygiene, etc. He would qualify as your dependent, except he receives gross income of more than $3,900.00; not enough to survive on, but too much to be rated as a dependent. If you have to take him to daycare, or hire someone to come to your home to watch him, those payments may be eligible for the Child & Dependent Care Credit.

Summer Day Camps and Tax Credits by danielstoica.com

Example 1: Say you have a 5 year old son, and a 16 year old son. You decide to pay your son to watch his younger brother during the summer, while you work, and your deadbeat husband "looks for work." This may be the best arrangement you can afford, but you would not be able to claim the Child & Dependent Care for those payments.

Example 2: Your deadbeat husband finally got run over by a reindeer, and lived, but he is just a vegetable. You have two dependent children, ages 4 and 7. Your payments made to a Qualifying Provider (who must give a SSN/or an EIN) for care while you work are probably eligible for the credit, because your Spouse is incapable of caring for the children.

Example 3: In order to take up the slack of having to pay for Child Care all summer, you enroll them in camp for two weeks solid, thinking that you can deduct the cost of the "Over Night" Camp as Child and/or Dependent Care. You would not be eligible for the credit in this case.

IRS.gov Child & Dependent Care Expenses - YouTube

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If you are counting on the Child and Dependent Care Credit for your 2014 taxes, make sure to follow all of the rules. Keep good records, and reciepts for all monies paid out. 

Good Luck, Happy Summer, and don't forget to sign up for Summer Reading Programs -2014.

Free File IRS.Gov - Spread The Word

For taxpayers who earned under $58,000.00 annually, there are a lot of partner sites that can be accessed from The IRS Website www.irs.gov. The video below is an excellent informational piece for those who have been hesitant, or just not sure how to go to a trusted site with which to trust your tax information. 

An experienced tax expert, I have CPE credits for classes completed such as "Navigating The IRS Website." Personally, I have used several different partner software providers who are linked to the Free File program on the IRS.gov website. 

If your State has State Tax, then it may be more difficult to find free filing for the State, but in the first year of Free Filing, many of these partner companies will offer free State Filing for lower income persons.

Freefile.irs.gov - Spread The Word

For those who make over $58,000.00, and are comfortable with doing a more complex tax return, the taxpayer can use the same page to go to Free File Fillable Forms. There is no State filing on Free File Fillable Forms, but the taxpayer can do Amendments, and prior year taxes. I am not sure how far they go back, but I think quite a way back.

I hope this helps, and if you have not filed your taxes yet; what are you waiting for. There are millions of dollars in Earned Income Credit for qualifying taxpayers; many without children or dependents who are unaware they are eligible.

File On! Happy Returns!

The Importance of Reporting Life Changes in Regard to the (ACA) "#Obamacare"

e-News for Tax Professionals Issue 2014-22 by The IRS: e-News for Tax Professionals Issue 2014-22 05/31/2014


The Affordable Care Act (ACA), touted as ObamaCare, has made drastic changes to our Tax Law. If this were FoxTV, there would be a bunch of misinformation to follow. The only reason I am even speaking of it, is because of how many people they have caused to deny themselves HealthCare and Insurance. Healthcare includes Dental and Eyewear. 

Now many Americans are experiencing the Health, and peace of mind in having Insurance. For some, this is the first time people in the U.S. have had Health Insurance. Many Americans are not able to enjoy the relief of being able to use Preventative Care, be healthier, and lead more productive lives. That is sad. One of the notes of propaganda that was spread like Oleo through the Southern States of North America was that Insurance Rates would go through the roof. It led to direct mis-understanding about the AFFORDABLE part.

Enrolled members should know, this was not meant to be a noose of tax liability to the taxpayer, this ACT was created to make healthcare affordable for all. Mitt Romney worked on the same plan for his own State, and helped write the ACA, as well as many who seem to be trying to destroy it, and the people it represents now.(?)

There are changes that can affect the Premium Tax Credit, many Americans who Enrolled will receive, to help Pay their Premiums. If you get too much, you will owe money at the end of the year, if your circumstances have changed to where it would affect your "enrolled ability to pay, and need," by turning in a CHANGE REPORT (http://www.irs.gov/pub/irs-pdf/p5152.pdf) 

What Changes?

• 
  

Premium Tax Credit - Help Purchasing Insurance through the Market Place

For those who declined enrollment, because they heard inflated numbers of premiums they would be responsible to pay should be given relief. They were unable to seek understanding of the ACA (Obamacare), because they were led to believe by their State, Federal Representatives, and GOP entrenched media; untruths which continue today.

I love to play Words of Wonder(TMDisney), but the ad I must watch to play for free, is often a middle aged couple from Arkansas saying things about AHA, that is not true, period. That entrenching of misquotes, and outright lies,  have caused Americans to either refuse, or dread one of the best things that has happened to our country for decades.

Personally, I now have Blue Cross, Blue Shield. My premiums would be almost $200.00 if I had to pay the whole thing, but my portion is very low, and I can afford it. I really am not sure how to use it, I am pretty healthy, and don't intend to become a pharmaceutical lab rat in my last days, so I shouldn't cost the taxpayers much. Most of my working life has been uninsured, or insurance too expensive to use. 
Oh, I am a taxpayer, and my blogs have not hit the big time yet, so I eke by on under $9,000.00 per year. I am lucky to be working in a job I love, it just doesn't pay a living wage. Having insurance, is just that. A net, should we slip from the perilous heights of "highwire fiscal survival", that most of us tip-toe across daily. 

Now, hopefully you have stopped being mad about the Fox crack, it honestly is not about politics, but about taxes. Unfortunately, what is happening in the media, driven by industrialists, is affecting the Tax Law, and not in the favor of the middle class and below. It is my goal to show some true information, and hand the reader resources they can check out for themselves. 

**For real information about the Premium Tax Credit, in English, and Spanish, with YouTube Videos Here is the Link: http://www.irs.gov/uac/The-Premium-Tax-Credit

I think there should be a respite for the many who have been so misinformed. It is hard to believe that people are allowed to get on television, call themselves "representatives," news stations that aren't news at all, merely entertainment. Since this is being done by the very people who were elected to serve THEM, it is my opinion that type of deception should be considered criminal. If I lied, and schemed, to the point of throwing my arm over someone else's Jesus, to cause someone to deny something they were due, I think that it may be a crime. Really.

There is a little respite for those who have had a life changing event, called a "Qualifying Life Event," if they did not enroll during Open Enrollment, they may be eligible to enroll. Here is the link to that page. https://www.healthcare.gov/glossary/qualifying-life-event/

IRS Special Edition Tax Tip 2014-13: Tax Information for Students Who Take a Summer Job

IRS Special Edition Tax Tip 2014-13: Tax Information for Students Who Take a Summer Job

Summer is right around the corner for most High School students in the U.S.


Many students will be working a job this summer for the very first time. 


While most people have heard the term "Income Tax," or people ranting and raving about having to pay taxes, the IRS has information about what you can expect when it comes to your income and taxes.


Many young people will not even be required to file a tax return on monies earned, because that amount is often just a couple of hundred dollars. On the other hand, if the worker would like to get the Federal and State tax withholding returned, they may want to go ahead and file a tax return.


Although I am often angered by the way our tax, medicare and social security withholdings are spent or managed, I have always been taught that our method of taxation is a way that we can all pitch in for the big ticket items like roads, bridges and other infra-structure type things that we could never afford individually.


I think that corporations that call themselves American companies should required to pay their parts of this National plan, and let all of us equally enjoy the partnership of everyone involved pitching in.


Some High School students may want to look into the opportunities available during the Summer, with the U.S. Government.** Today I received an announcement of several opportunities for those interested in Interning with the E.P.A. (Environmental Protection Agency). These are well paid positions, and help young and disadvantaged youth get a foot in the door.

Finding & Applying for Jobs with the U.S. Government - YouTube

**USAJOBS - EPA Biologist Scholarship program 

ATF Internships -

One of the best things about applying with JOBS.Gov is that once you enter all of your information onto the site, you simply sign up for a feed of the type of jobs you are looking for, and apply. Of course, as your work history changes you will need to update.

Good Luck out there!

IR-2014-48: Tax Information Available Through IRS Social Media Tools

IR-2014-48: Tax Information Available Through IRS Social Media Tools



"LIKE" the I.R.S. on Facebook!



Tweet the U.S. Treasury



Download IRS2Go to your I-Phone, from your social media web site.



View informational videos on YouTube.



Take a Tumble and join the Internal Revenue Service on Tumbler.



I.R.S. Information has become more streamlined for the hearing impaired. The Internal Revenue Service offers American Sign Language videos.



Information is available in Spanish and English, and there is a department that deals with Tribal issues.



Today's IRS is not your parent's taxing agency there are many new and innovative ways to find information with regards to the I.R.S. and the U.S. Treasury Department. With advances in technology and Internet use, interested parties can search for gifts, teachers resources and a vast array of Summer Internships for students 16 years and older. USAJOBS - Student Jobs (link)



Connection can be empowerment, just remember if you "Like" the I.R.S. they will have your feeds unless you protect your privacy settings.



Find the I.R.S. through Social Media

I hope this has helped in some way. Happy filing.

IRS2Go 4.0 Smartphone App Downloads Surpass 2.3 Million

IRS2Go 4.0 Smartphone App Downloads Surpass 2.3 Million

The IRS evolves well! 

Launched in 2011 the IRS2Go Smartphone App has been uploaded over 5 million times. 

In 2014 alone more than 2 million people downloaded the IRS2Go 4.0 Smartphone App. 

We hear many negative things about our Government and especially the IRS, and so it is only fair to give them props where they are due. 

Less than 2 decades ago we had not dreamed of a "Windows" program. The Window idea was introduced as "WYSIWYG" technology. That means What You See Is What You Get. 

The very idea of taking a beam of light by the end of our fingertips, clicking a big green (icon) button to "File" our Federal Tax Returns in 1994, was not even a fantasy.

We were using DOS operating systems to communicate from Tax offices to the IRS. Less than 30 years ago, we did not get a print-out from a printer via computer. We filled it out in Quadruplet, making sure to press down hard enough for the inky carbon paper to copy through each page. 

Considering that over half of the inquiries to the IRS.gov website, asking "Where's My Refund?," were from mobile users.

Let's go ahead and give our IRS, Treasury and other Government workers a big THANK YOU! 

It is hard to remember that "The Government" is made up of a bunch of people. Many are public minded, earning less money than in the private sector, and honestly care about their Government and it's People. 

Next time you go to complain about our Government, take a moment, and find something positive.  There are creative innovators who work for different agencies within the Government that work hard helping us out, and making getting information from the Federal and State governments much easier. 

Thank you very much for all you do. 

Tax Filing Deadline Approaching 2014 - Healthcare

#getEnrolled                                                                                                  March 19, 2014



Taxpayers, I feel for you. I know who you are, the ones who have been avoiding the taxes, or you are still gathering stuff up for the accountant. Some of you have already decided to file an extension, and you are just trying to earn some extra cash so you can put a dent in what you owe. 

In less than a month, your tax return is due, and you are pretty sure you will have to pay in again, or for the first time. Make sure you get the best tax advice, and don't be chincy when it comes to professional tax help. Just because someone is a CPA, or Bookkeeper or Enrolled Agent, if they are not focused on your case, or not well trained, they can mess you up. Find someone with a good reputation with the IRS and you will be assured to be taken care of. 

To further drive you to madness, a new deadline approaches...Open Enrollment for "Obamacare" is about to expire. Many in your tax brackets will not be concerned with any tax changes regarding the Affordable Care Act on your 2013 tax year. Most of you have been paying thousands of dollars per year in Insurance Premiums most of your working life. I can hazard to guess that unless you demanded to keep your insurance company who is not in compliance out of stubbornness most taxpayers should be glad to see total annual premiums and out-of-pocket expenses dropping.

Since you are stressed out beyond belief here is a word from Get Covered America

Okay. Now that you are feeling a little better: 

If you think you may have some 2013 costs or changes associated with the Healthcare law you can get help from the IRS Website. In today's announced "HCTT - 2014-10: What do I need to know about the Healthcare Law for my 2013 Tax Return?", there are links to find more information regarding the ACA and the affect it will have on your return.

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Copied from http://content.govdelivery.com/accounts/USIRS/bulletins/aba082?reqfrom=share (IRS 03.19.2014)

...However, for some people, a few provisions may affect your 2013 tax return, such as increases in the itemized medical deduction threshold, the additional Medicare tax and the net investment income tax.
Here are some additional tips:
Filing Requirement: If you do not have a tax filing requirement, you do not need to file a 2013 federal tax return to establish eligibility or qualify for financial assistance, including advance payments of the premium tax credit to purchase health insurance coverage through a Health Insurance Marketplace. Learn more at HealthCare.gov.
W-2 Reporting of Employer Coverage: The value of health care coverage reported by your employer in box 12 and identified by Code DD on your Form W-2 is not taxable. Learn more.
Information available about other tax provisions in the health care law: More information is available on IRS.gov regarding the following tax provisions: Premium Rebate for Medical Loss Ratio, Health Flexible Spending Arrangements, and Health Saving Accounts.
More InformationFind out more tax-related provisions of the health care law at IRS.gov/aca.
Find out more about the Health Insurance Marketplace at HealthCare.gov.
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It is important that taxpayers learn the facts about the Healthcare Law / ACA / or Obamacare. It is helping a majority of Americans, but many are missing out due to politics, lies and bad information. 

Please look into the benefits of having affordable health care. 

Stay well, and be healthy.







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