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IDMS Account Ability Press releases

41 - 50 of 54 Press Releases

Mar 01, 2011
Some taxpayers may have needed to take an early distribution from their retirement plan last year. The IRS wants individuals who took an early distribution to know that there can be a tax impact to tapping your retirement fund.

Feb 18, 2011
Capital assets include a home, household furnishings and stocks and bonds held in a personal account. When a capital asset is sold, the difference between the amount you paid for the asset and the amount you sold it for is a capital gain or loss.

Feb 17, 2011
Account Ability prepares information returns (1098, 1099, 3921, 3922, 5498, W2G) and annual wage reports (W2, W2C) electronically, on laser, inkjet, and generic dot matrix printers. Account Ability also includes Bulk TIN Matching at no extra charge.

Feb 17, 2011
You may be able to take a tax credit of up to $13,170 for qualified expenses paid to adopt an eligible child. The Affordable Care Act increased the amount of the credit and made it refundable, which means it can increase the amount of your refund.

Feb 16, 2011
Bartering is the trading of one product or service for another. Usually there is no exchange of cash. However, the fair market value of the goods and services exchanged must be reported as income by both parties.

Feb 10, 2011
The Child Tax Credit is an important tax credit that may be worth as much as $1,000 per qualifying child depending upon your income.

Feb 09, 2011
You should receive a Form W-2, Wage and Tax Statement, from each of your employers. Employers have until January 31, 2011 to send you a 2010 Form W-2 earnings statement.

Feb 07, 2011
The Social Security benefits you received in 2010 may be taxable. You should receive a Form SSA1099 which will show the total amount of your benefits.

Jan 30, 2011
The Earned Income Tax Credit is a financial boost for workers earning $48,362 or less a year. Four of five eligible taxpayers filed for and received their EITC last year. The IRS wants you to get what you earned also, if you are eligible.

Jan 07, 2011
The American Recovery and Reinvestment Act of 2009 allows regulated investment companies (RICs) to elect to distribute tax credit bond credits to shareholders.


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