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Income tax efiling: Watch how to file returns using ITR-2 on website in 30 minutes

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Income tax efiling: Watch how to file returns using ITR-2 on incometaxindiaefiling.gov.in website in 30 minutes

Income Tax efiling: It s Sunday, and just two days are left for the July 31 deadline for filing your returns. In case you are dreading spending your Sunday in filing tax returns, we have good news for you. It takes just about 30 minutes, if you have to file returns using the ITR-2! But first things first, let s understand who all have to use the ITR-2 form to file their tax returns.

In case your income exceeds Rs 50 lakh, you will have to use ITR-2 this year. ITR-2 form is meant for those who have income from salary/pension; income from capital gains or loss on sale of property and investments; income from more than one house property; income from other sources such as lottery; income from foreign assets/foreign income; agricultural income of more than Rs 5000.

Also, according to the Income Tax Department s website, the ITR-2 form is to be used by an individual or an Hindu Undivided Family that is not eligible to file Sahaj ITR-1 and those whose income chargeable to income-tax under the head Profits or gains of business or profession is in the nature of interest, salary, bonus, commission or remuneration, by whatever name called, due to, or received by him from a partnership firm. However, ITR-2 should not be used by you if your total income for the assessment year 2017-18 includes income from business or profession under any proprietorship, says the Income Tax department s website.

The ITR-2 form has multiple tabs and to help you better understand the process of filing them, Financial Express Online has got Kuldip Kumar, Partner and Leader for Personal Tax at PwC to take you step-by-step through the extensive process on the Income Tax website. Watch the video above make sure you get everything right.

After opening the Income Tax website, click on the ITR download option available on the RHS. Make sure that you download and fill the latest updated form from the I-T department. The website gives you the option of downloading in Excel Utility format or the Java Utility format. It is advisable to go through the instructions list given beside the option to download each form.

As advised by Kumar, make sure that you e-verify your income tax return and also save a copy of the filed returns for future reference, in case the need arises. We hope that this video helps solve most of your queries. Happy filing!


Estimate Your 2017 Tax Refund with the 2016 Return Calculator, return of tax.#Return #of #tax

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Estimate Your Tax Refund – 2018 Tax Calculator for 2017 Tax Return

First, estimate your 2017 Tax Return below.

Select your tax return filing status. Help me

Single taxpayers who can claim a dependent may be eligible for the Head of Household filing status, which will provide more tax benefits. Learn more

Your personal exemptions have been selected below. Add/change selections as needed.

Single taxpayers who can claim a dependent may be eligible for the Head of Household filing status, which will provide more tax benefits. Learn more

Taxes Withheld/Paid

Tax Credits Help Me

The Child Tax Credit is nonrefundable; if your credit exceeds your tax liability, your tax bill is reduced to zero and any remaining unused credit is lost. However, you may be able to claim a refundable Additional Child Tax Credit for the unused balance. You can find out if you’re eligible for this refundable credit by completing your return on efile.com.”>

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It looks like you will receive a tax refund this year, based on the infomation entered. If you are ready, go ahead and efile your tax return now.

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Based on the information you entered, it appears that you may owe additional tax to the IRS. You may have overlooked some ways that you can reduce your tax liability. Learn more about tax deductions and tax credits. If everything entered here is correct, you can get started your tax return.

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If you need to make changes, please use the tabs on top or click “Edit” next to some of the categories.

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This free efile.com tax calculator lets you select a tax income filing status and enter your W-2 and other income, tax deductions, tax credits, and other tax information. Based on this tax information you can calculate and estimate your tax refund or tax payments.

The efile.com tax calculator is based on IRS tax code, tax tables and tax rates and is subject to change without previous notification.

This tax software is a self-help tool for free independent usage. By using this tax calculator you agree that efile.com is not acting as your tax adviser. Furthermore you acknowledge, that efile.com does not guarantee the accuracy of this tax calculator nor its applicability in regards to your personal financial circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal financial issues.

This tax calculator service is provided “as is,” without warranty of any kind, either express or implied, including without limitation, any warranty for information, data or services.

Don t let your tax return take you by surprise! Estimate your taxes before you prepare your 2017 Tax Return. Find out if you will owe taxes or how much of a tax refund you will get in 2018. Estimating your taxes before you file your tax return is an essential part of tax planning, so start estimating now with the 2017 Tax Refund and Tax Return Calculator above.

How to Estimate Taxes with the 2018 Tax Calculator

To begin estimating your taxes with the tax calculator, select your filing status. Then click the blue “Next” button and choose your exemptions for yourself, your spouse, and your dependents. After you enter income information you can enter your tax deductions and tax credits. When you are finished in each section, go on to the next one.

You can track the estimate of your tax refund as you go; the amount of your tax refund (or amount due) is always displayed on the top right of the tax calculator.

The 2018 Tax Calculator will estimate your 2017 Tax Return and any tax refund you will receive in 2018. This calculator will be updated frequently as the IRS releases the latest figures for Tax Year 2017. Efile.com offers the use of this tax calculator free of charge. Please contact us if you have any comments or questions about the 2018 Tax Calculator.

Tax Calculators for Previous Tax Years

Tax Rates by Tax Year

1 The User Terms and Conditions for this efile.com Federal Tax Return Tax Calculator and Tax Estimator constitutes your agreement to the following Agreement. This tax calculator is only an estimator tax tool and should only be used to calculate and estimate your 2017 tax year or 2018 tax return tax refund or tax liability. This tax calculator is not intended as an online tax preparation tool for a federal income tax return. Please only use this tax calculator as an estimator for your personal tax refund or tax liability; any other use is strictly prohibited. Tax Information entered into the efile.com tax calculator is not stored or saved on a server or your computer s disk drive, nor is the tax data stored or transmitted anywhere else.

* Some of the deductions entered are applied to what would be your itemized deduction. The calculator will display the itemized deduction total if it is larger than the standard deduction.

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Free Printable Forms, Fast & Easy, pa income tax forms.#Pa #income #tax #forms

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US Individual Income Tax Return

Annual income tax return filed by citizens or residents of the United States.

Request for Taxpayer Identification Number (TIN) and Certification

Used to request a taxpayer identification number (TIN) for reporting on an information return the amount paid.

Employee’s Withholding Allowance Certificate

Complete Form W-4 so that your employer can withhold the correct federal income tax from your pay.

Installment Agreement Request

Use this form to request a monthly installment plan if you cannot pay the full amount you owe shown on your tax return (or on a notice we sent you).

Premium Tax Credit (PTC)

Use Form 8962 to figure the amount of your premium tax credit (PTC) and reconcile it with any advance payments of premium tax credit (APTC).

Amended U.S. Individual Income Tax Return

Correct Forms 1040, 1040A, 1040EZ, 1040NR, or 1040NR-EZ,change amounts previously adjusted by the IRS, or make a claim for a carryback due to a loss or unused credit.

Estimated Tax for Individuals

Figure and pay your estimated tax on income that is not subject to withholding.

Power of Attorney and Declaration of Representative

Use this form to authorize an individual to represent you before the IRS.

Employer’s Quarterly Federal Tax Return

Employers who withhold income taxes, social security tax, or Medicare tax from employee’s paychecks or who must pay the employer’s portion of social security or Medicare tax.

Employee’s Withholding Allowance Certificate

Complete Form W-4 so that your employer can withhold the correct federal income tax from your pay.

Wage and Tax Statement

Employers must file a Form W-2 for each employee from whom Income, social security, or Medicare tax was withheld.

Heavy Highway Vehicle Use Tax Return

Figure and pay the tax due on heavy highway vehicles, report other heavy highway vehicle information.

Application for Employer Identification Number (EIN)

Use this form to apply for an employer identification number (EIN).

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TaxHow – Pennsylvania Tax Filing, pennsylvania income tax forms.#Pennsylvania #income #tax #forms

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Pennsylvania Tax Filing

Pennsylvania income tax forms

Filing Your Taxes in Pennsylvania

Filing taxes can be frustrating. Here, you can find information that will help make filing your taxes easier and faster. Find out what your residency status is, which forms you need to file and on what income.

One thing all people paying taxes in Pennsylvania need to keep in mind that Pennsylvania charges local and school taxes in addition to the 3.07% state income tax. If you have a low income, you may qualify for a Tax Forgiveness Credit.

Income tax returns must be filed by April 18th.

Online Tax Software: Taxes Made Easy

If you want to make doing your taxes online easy, you might want to consider using online tax software. e-File.com and TaxAct are the most well-known software providers out there for doing your taxes online, but they each have their pros and cons: Compare them here!

  • Fast Refund
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  • FREE Audit Support

Pennsylvania Tax Forms

  • PA Schedule PA-40X – Pennsylvania Schedule PA-40X – Amended
  • PA Tax Booklet – Pennsylvania Personal Income Tax Return Booklet
  • PA Form PA-40 – Pennsylvania Income Tax Return
  • Pennsylvania Schedule G – Pennsylvania Credit for Tax Paid To Other States
  • Pennsylvania Form Rev-276 – Pennsylvania Application for Extension to File
  • PA Schedule A/B – Pennsylvania Interest and Dividend Income, Income from Estates and Trusts
  • Pennsylvania Schedule C (Form 1040) – Profit or Loss From Business
  • Pennsylvania Form PA-8453 – Pennsylvania Individual Income Tax Declaration for Electronic Filing
  • Schedule D (Form 1040) – Capital Gains and Losses
What is My Residency Status?

There are four groups of people who need to file some sort of tax form in Pennsylvania. Pennsylvania residents, part-year Pennsylvania residents, people who live in Pennsylvania but work in another state, people who live in another state and work in Pennsylvania and people who sold property in Pennsylvania that tax year.

Pennsylvania Residents

Not all Pennsylvania residents are required to file an income tax return using Form PA-40. To find out if you have to file a Pennsylvania resident tax return and all of the information you need to do fill out Form PA-40 correctly, you can download the PA-40 Instructions Booklet above.

Part-Year Residents

Pennsylvania taxes any and all income earned in or out of state if you were a resident as well as on all income earned in Pennsylvania regardless of residency status. Part-year Pennsylvania residents must file a state income tax return using Form PA-40 for any income earned while they were residents of Pennsylvania. You will also need to file any additional forms for the time in which you were not a resident. Refer to page 15 of the Pennsylvania Personal Income Tax Guide, which you can download above, for help on filing a part-year resident return. There is a whole section dedicated to nonresident tax returns.

Pennsylvania Residents Who Work Out of State

Pennsylvania residents working in any state are still required to file an income tax return with Pennsylvania and the state in which they work. If you want to make sure you don’t get taxed twice (dual taxation), you will need to fill out Schedule G and file it with your Pennsylvania resident state income tax return (Form PA-40) and you will be credited for any taxes paid to other states.

Work in Pennsylvania, Live Out of State

If you do not live in Pennsylvania, but you work there, you will be required to file a tax return for any income earned in Pennsylvania. Pennsylvania considers wages and salaries from employment as taxable income. To file taxes on income earned in Pennsylvania, fill out Schedule C. For more information on how to file as a nonresident and how to fill out a Schedule C, see the Pennsylvania Personal Income Tax Guide which you can download above.

Any nonresidents who sold property in Pennsylvania are required to file taxes on any income they earned from that sale. To file a return on income from the sale of property, fill out a Schedule D. For more information see the Pennsylvania Personal Income Tax Guide which you can download above.


Pennsylvania Individual Income Tax, pa income tax forms.#Pa #income #tax #forms

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Pennsylvania Individual Income Tax

Pa income tax forms

Individuals in Pennsylvania pay a flat tax of 3.07 percent. This means that in Pennsylvania everyone pays 3.07 percent, no matter how much income they make. However, if your income is low enough, the state will forgive your tax debt, bringing your tax bill to zero.

Pennsylvania does not allow for a standard deduction or a deduction for personal exemptions (dependents). Therefore, the allowed deductions, tax credits, and exclusions from income become all the more important.

What Income Is Taxable?

Pennsylvania assesses tax on the eight classes of income:

  1. Compensation
  2. Interest
  3. Dividends
  4. Net profits from a business, profession, or farm
  5. Net gains from the dispositions of property
  6. Net gains from rents, royalties, patents, and copyrights
  7. Income from estates or trusts
  8. Gambling and lottery winnings other than Pennsylvania Lottery winnings

What Income Is Exempt?

Common income items that are exempt from Pennsylvania income tax include:

  • Capital gains from the sale of a principal residence for those who satisfy ownership and use requirements
  • Personal use of employer-owned property
  • Child support
  • Alimony
  • Social security benefits, public and private pensions, and IRA distributions
  • Worker’s compensation, unemployment benefits, and public assistance
  • Sick pay
  • Inheritances and gifts

For full details on all exempt income items see the instructions to Form PA-40.

What Can I Deduct?

Pennsylvania does not allow many of the deductions that are allowed on your Federal tax return, limiting your deductions to the following three:

  • Employment related expenses that were not reimbursed by your employer are allowed to be deducted from your gross compensation. Pennsylvania requires the costs to be ordinary, necessary, reasonable, and directly related to your occupation. You are allowed to deduct ALL of these costs as Pennsylvania does not impose the Federal limits on this deduction.
    • Medical savings and health savings account contributions are deductible to the extent they are deductible for Federal (IRS) tax purposes. If you received a deduction for these contributions on your Federal return, your Pennsylvania deduction would be the same as your Federal deduction. Your Federal deduction can be found on Line 25 of your Federal Form 1040.
    • 529 college savings account contributions made during the tax year can be deducted up to the limit of $13,000 per beneficiary. This deduction applies to both Pennsylvania 529 plans and out-of-state 529 plans.

    What Tax Credits Are Available?

    Tax credits reduce your tax debt directly, similar to a payment. Pennsylvania offers these credits to individuals:

    • Resident Credit is a credit for gross or net income taxes paid to other states or foreign countries by Pennsylvania residents
    • Tax Forgiveness Credit is a credit extended to taxpayers who are single, married, and/or have dependents and whose income from all sources (including tax exempt items like alimony, child support, social security, etc.) does not exceed certain income limits. Depending on your number of dependents and income you can receive a credit of anywhere from 10 percent to 100 percent your tax liability.

    Filing Your Return

    If you are a Pennsylvania resident, nonresident, or part-year resident, you must file a Pennsylvania tax return if you received over $33 in gross income or you sustained a loss from any transaction as an individual, sole proprietor, partner in a partnership, or Pennsylvania S-corporation shareholder. Forms are available on the Pennsylvania Department of Revenue s Web site. You can also call 1-888-PATAXES to order forms and have them mailed or faxed to you.

    You can choose to mail your return, file over the telephone (Tele-file), fill out and submit your return online, or e-file using tax software such as TurboTax. Tax returns and payment must be postmarked on or before April 15th.


    Pennsylvania Income Tax Rates for 2017, pennsylvania income tax forms.#Pennsylvania #income #tax #forms

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    Tax-Rates.org The 2017 Tax Resource

    Contents

    Tax Information Sheet Pennsylvania income tax forms Launch Pennsylvania

    Income Tax Calculator

    Note: Pennsylvania’s income tax has a single flat tax rate for all income.

    Pennsylvania collects a state income tax at a maximum marginal tax rate of %, spread across tax brackets. Unlike the Federal Income Tax, Pennsylvania’s state income tax does not provide couples filing jointly with expanded income tax brackets.

    Pennsylvania’s maximum marginal income tax rate is the 1st highest in the United States, ranking directly below Pennsylvania’s %. You can learn more about how the Pennsylvania income tax compares to other states’ income taxes by visiting our map of income taxes by state.

    Like 14 other states, Pennsylvania allows cities and other localities to collect a local income tax in addition to the Pennsylvania Income Tax. The average income tax rate for counties and large municipalities, weighted by total personal income within each jurisdiction is 1.25%.

    There are -945 days left until Tax Day, on April 15th 2015. The IRS will start accepting eFiled tax returns in January 2015 – you can start your online tax return today for free with TurboTax Pennsylvania income tax forms.

    Income tax deductions are expenses that can be deducted from your gross pre-tax income. Using deductions is an excellent way to reduce your Pennsylvania income tax and maximize your refund, so be sure to research deductions that you mey be able to claim on your Federal and Pennsylvania tax returns. For details on specific deductions available in Pennsylvania, see the list of Pennsylvania income tax deductions.

    4.1 – Pennsylvania Standard Deduction

    4.2 – Pennsylvania Personal Exemptions

    4.3 – Pennsylvania Dependent Deduction

    4.4 – Pennsylvania Itemized Deductions

    Tax-Rates.org provides easy access to five of the most commonly used Pennsylvania income tax forms, in downloadable PDF format. For all of the tax forms we provide, visit our Pennsylvania tax forms library or the ‘s tax forms page.

    Pennsylvania income tax forms

    Pennsylvania income tax forms

    Pennsylvania income tax forms

    Pennsylvania income tax forms

    Pennsylvania income tax forms

    Pennsylvania income tax forms

    Pennsylvania Department of Revenue Bureau of Individual Taxes PO Box 280504 Harrisburg, PA 17128-0504

    Pennsylvania Department of Revenue No Payment/No Refund 2 Revenue Place Harrisburg, PA 17129-0002

    Pennsylvania Department of Revenue Payment Enclosed 1 Revenue Place Harrisburg, PA 17129-0001

    Pennsylvania Department of Revenue Refund/Credit Requested 3 Revenua Place Harrisburg, PA 17129-0003

    Pennsylvania income tax forms

    You can save time and money by electronically filing your Pennsylvania income tax directly with the . Benefits of e-Filing your Pennsylvania tax return include instant submission, error checking, and faster refund response times. Most tax preparers can electronically file your return for you, or you can do it yourself using free or paid income tax software, like the examples listed below.

    To e-file your Pennsylvania and Federal income tax returns, you need a piece of tax software that is certified for eFile by the IRS. While most in-depth tax software charges a fee, there are several free options available through the states, and simple versions are also offered free of charge by most tax software companies.

    The two most popular tax software packages are H ?>

    Income Tax efiling: Here – s what you need to disclose now in tax return

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    Income Tax efiling: Here s what you need to disclose now in tax return forms for Financial Year 2016-17

    Amidst all the GST excitement and curiosity, there has been a lot of focus on ‘taxes’ in the past few months. Tax-related discussions seem to be the flavour of the season. The timing for this couldn’t be better – with 31st July as the personal Income-tax Return (ITR) filing deadline. The government is hoping for a better ITR filing compliance this year. However, for an individual tax payer, income tax efiling or filing an ITR can be a complicated process with all the detailed reporting requirements. To help you understand these requirements, below are a few important details that need to be provided in the ITR:

    Reporting of bank accounts

    Irrespective of the residential status, there is a mandatory requirement for taxpayers to report all bank accounts (whether savings or current) held by them in India at anytime during the period 1 April 2016 to 31 March 2017 in the ITR for the Financial Year 2016-17.

    However, details of any dormant bank account, i.e. an account which is not operational for more than 3 years, is not required to be reported in the ITR.

    Until last year, non-resident taxpayers were not required to provide details of bank accounts outside India in the ITR. However, in the new ITR forms for the Financial Year 2016-17, there is a mandatory requirement to provide details of bank accounts held by non-resident taxpayers outside India if such non-resident taxpayers do not have Indian bank account.

    Bank account-related details required to be provided in the ITR are IFSC Code of the bank (SWIFT/IBAN in case of foreign bank), name of the bank, account number and country of location (in case of foreign bank).

    Tax payers are also required to indicate the bank account in which they would like to receive the tax refund if any from the department.

    Cash deposited 9 November 2016 to 30 December 2016

    Post demonetisation, as a follow up step towards greater tax transparency, taxpayers are required to report cash deposited in Indian bank accounts during the period of demonetisation (i.e. from 9 November 2016 to 30 December 2016). However, the said disclosure is required if the aggregate amount of cash deposited by the taxpayer during the period of demonetisation is Rs 2 lakh or more.

    To further curb corruption and black money, income-tax authorities intend to create a single database for all its taxpayers. As a step forward, with effect from 1 July 2017, it is mandatory for all taxpayers who are eligible to obtain Aadhaar to report their 12 digit Aadhaar number in the ITR. Taxpayers who have applied for Aadhaar but have not been allotted the Aadhaar number till the ITR filing are required to quote 28 digit Aadhaar enrolment ID in the ITR.

    Income-tax authorities have also made quoting of Aadhaar number mandatory while filing an application for allotment of Permanent Account Number (PAN).

    Reporting of assets and liabilities (Schedule AL)

    Taxpayers having total income of more than Rs 50 lakh have to report specified assets and corresponding liabilities held by them at the end of the year (i.e. 31 March 2017) in the ITR.

    Until last year, the taxpayers were only required to disclose assets such as immovable properties, cash in hand, jewellery, vehicles etc. However, this year the income-tax authorities have widened the reporting requirements taxpayers are now also required to report assets such as bank accounts (including all deposits), archaeological collections, shares and securities, insurance policies, loan and advances given etc.

    Such assets are required to be reported at the cost price of such assets to the taxpayer. However, where wealth-tax return was filed by the taxpayer and the asset was forming part of the wealth-tax return, such asset is required to be reported in Schedule AL of the ITR at the value such asset was reported in the latest wealth-tax return (in which the asset was disclosed) as increased by the cost of improvement incurred after such date.

    Also, where asset became property of the taxpayer under a gift or will, the cost of such asset to be reported will be the cost for which the previous owner of the asset acquired it, as increased by the cost of improvement incurred by the previous owner or the taxpayer.

    Reporting of foreign asset (Schedule FA)

    Taxpayers who qualify as Resident and Ordinarily Resident (ROR) are taxable on their worldwide income in India. It is mandatory for the taxpayers qualifying as ROR to disclose assets held by them outside India anytime during the year in the ITR.

    Foreign assets to be disclosed in the ITR include foreign bank accounts, immovable property, financial interest in any entity, other capital assets, etc. Taxpayers are also required to disclose the income from such assets along with its nature and the head of income under which the income has been offered to tax.

    Also, under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, for ROR taxpayers, huge penalties and other implications may be applicable for any under-reporting or non-reporting of foreign income or foreign assets. Thus, it is essential to report complete details of foreign income and foreign assets in the ITR to avoid such penal implications.

    Hope the above information makes it easier to file your ITR this year.

    (The author is senior tax professional, EY India. Views expressed are personal.)


    Earned Income Tax forms for Individuals – Capital Tax Collection Bureau, pa income tax forms.#Pa

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    Earned Income Tax forms for Individuals

    • Click here to file your tax return online (RECOMMEND ADOBE VERSION 10.1 OR HIGHER)
    • Individual online filing instructions
    • Download/Update Adobe Reader

    2017 Member Earned Income Tax Rate Table to be used to help taxpayers of member municipalities and school districts determine their Earned Income Tax Rate for the 2015 tax year.

    2017 Taxpayer’s Quarterly Estimated Earned Income Tax Form – to be used by self – employed taxpayers and/or taxpayers who’s employer(s) are NOT withholding local tax

    • 2016 Tax Return (Form 531)
      • Instructions
      • Print-only version
      • Part Year Resident/Income Proration Worksheet
    • Tax Credit Schedule G (for taxpayers who work, but do not live, in Philadelphia)
      • Schedule G (PDF format – print only)
    • Application for extension of time to file 2016 Earned Income Tax Return (Form 531)
      • Extension Application (PDF format – print only)

    2016 Member Earned Income Tax Rate Table to be used to help taxpayers of member municipalities and school districts determine their Earned Income Tax Rate for the 2015 tax year.

    Taxpayer’s Quarterly Estimated Earned Income Tax Form – (to be used by self – employed taxpayers and/or taxpayers who employers are NOT withholding local tax)

    • 2015 Tax Return (Form 531)
      • Instructions
      • Print-only version
      • Part Year Resident/Income Proration Worksheet

    2015 Member Earned Income Tax Rate Table to be used to help taxpayers of member municipalities and school districts determine their Earned Income Tax Rate for the 2015 tax year.

    Taxpayer’s Quarterly Estimated Earned Income Tax Form – (to be used by self – employed taxpayers and/or taxpayers who employers are NOT withholding local tax)

    • 2014 Tax Return (Form 531)
      • Instructions
      • Print-only version
      • Part Year Resident/Income Proration Worksheet
    • 2014 Tax Return (Form 531) for Juniata Valley School District Residents ONLY! You must file on this form and mail it into our office. Youcannot filetax year 2014onlinedue to the tax rate change on July 1, 2014.
      • Instructions
      • Print-only version
    • Tax Credit Schedule G (for taxpayers who work, but do not live, in Philadelphia)
      • Schedule G (PDF format – print only)
      • Schedule G (Excel format – print only)
      • Schedule G (Excel format – self calculating)

    2014 Member Earned Income Tax Rate Table to be used to help taxpayers of member municipalities and school districts determine their Earned Income Tax Rate for the 2014 tax year.

    Taxpayer’s Quarterly Estimated Earned Income Tax Form – (to be used by self – employed taxpayers and/or taxpayers who employers are NOT withholding local tax)

    • 2013 Tax Return (Form 531)
      • Introduction
      • Instructions
      • Print-only version
      • Self Calculating Version
    • Tax Credit Schedule G (for taxpayers who work, but do not live, in Philadelphia)
      • Schedule G (PDF format – print only)
      • Schedule G (Excel format – print only)
      • Schedule G (Excel format – self calculating)
    • Partial Year Resident Proration worksheet (schedule P) – to be used by those individuals who moved in 2013
      • Schedule P (PDF format)

    Taxpayer’s Quarterly Estimated Earned Income Tax Form – (to be used by self – employed taxpayers and/or taxpayers who employers are NOT withholding local tax)

    • 2012 Tax Return (Form 531)
      • Introduction
      • Instructions
      • Print-only version
    • Tax Credit Schedule G (for taxpayers who work, but do not live, in Philadelphia)
      • Schedule G (PDF format – print only)
      • Schedule G (Excel format – print only)
      • Schedule G (Excel format – self calculating)
    • Partial Year Resident Proration worksheet (schedule P) – to be used by those individuals who moved in 2012
      • Schedule P (PDF format)

    Taxpayer’s Quarterly Estimated Earned Income Tax Form – (to be used by self – employed taxpayers and/or taxpayers who employers are NOT withholding local tax)


    IRS Tax Extension Form 4868 (Individuals), federal income tax extension form.#Federal #income #tax #extension #form

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    IRS Tax Extension Form 4868 (Individuals)

    Get an extra six months to file your taxes. File an individual tax extension or a business tax extension with TaxExtension.com – an online leader in tax extensions.

    Will you be ready to file your annual Federal income tax return by the proper deadline (typically April 15)? If not, an automatic extension of time for filing taxes can be obtained, giving you 6 additional months to get your paperwork in order. To obtain this automatic extension, you will need to submit Tax Form 4868 to the IRS by the original filing deadline of your return (April 15).

    Tax Form 4868 is designed for individuals who are required to report their personal income to IRS. It covers 1040 filers — including Tax Forms 1040, 1040A, 1040NR, 1040EZ, 1040NR-EZ, 1040-PR, and 1040-SS — 1099 independent contractors, Schedule C (Form 1040) sole proprietors, and single-member limited liability companies (LLCs). If you are looking for a personal tax extension, Form 4868 will extend your tax-filing deadline from April 15 to October 15.

    However, you need to remember that the extension is only for filing your tax return and is not applicable to the payment of your taxes. You will still have to make your annual tax payment to the IRS by the original deadline (April 15) to avoid penalties. This means you’ll need to provide an estimate of the tax you owe when you request an extension. At TaxExtension.com, you can pay your taxes with your extension. You can pay all, some, or none of your estimated tax via direct withdrawal from your bank account using EFW (Electronic Funds Withdrawal) when you e-file your tax extension. But even if you cannot pay any of your tax due, you can still get a tax extension.

    If you made an error on your tax extension application, there is a timeframe in which the IRS allows you to make corrections. And even better, if you use TaxExtension.com to e-file Form 4868 and (for whatever reason) your tax extension request was denied, you can fix the mistakes and resubmit your application at no additional charge!

    TaxExtension.com supports taxpayers who have foreign addresses and are located outside the United States. Even so, there are some exceptions when it comes to certain partnerships and domestic corporations, as well as foreign corporations that don’t have a U.S. office.

    Federal income tax extension form

    TaxExtension.com provides a secure online solution for individuals and businesses seeking to e-file an IRS income tax extension. TaxExtension.com is an authorized IRS e-file provider and files both IRS 4868 and IRS 7004 forms electronically. Prices determined at time of e-file subject to change without notice. Owned and operated in the United States © 2016 Banks.com, Inc. Contact us at [email protected]

    Federal income tax extension formFederal income tax extension formFederal income tax extension form


    Alabama s income tax hits poor harder than most, but it wasn t always so,

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    Alabama’s income tax hits poor harder than most, but it wasn’t always so

    Alabama’s relatively flat income tax hits low-income residents harder than in most states, but it wasn’t always so, according to a budget primer produced by the anti-poverty Arise Citizens’ Policy Project.

    “The Alabama Tax Budget Handbook,” an update from the first publication in 2005, notes that the state income tax started out highly progressive. When the state Legislature first levied the income tax in 1935 – using authorization from a 1933 constitutional amendment – the tax did not kick in until after the first $3,600 of income for a family of four. That was high enough to keep most people from paying taxes.

    Arise notes that the average teacher salary, for instance, was about $500.

    Only about 7,000 people, less than a quarter of 1 percent of the population, earned enough to be taxed, according to the report.

    “Incomes used to be so much lower then,” said Carol Gundlach, a budget analyst with Arise.

    Susan Pace Hamill, a University of Alabama School of Law professor who has studied the state’s tax system, said then-Gov. Benjamin Meek Miller barnstormed the state to build support for his tax initiative. She said he would ask folks for a show of hands who paid the federal income tax, which at the time was a levy only on the extreme wealthy. Almost no one would raise his hand.

    “He would say, ‘If you don’t pay Uncle Sam, you don’t pay Alabama,'” Hamill said.

    Miller eventually got his tax, but it wasn’t easy. His first two efforts failed, in 1931 and 1932. According to historian Hardy Jackson’s 2004 book, “Inside Alabama: A Personal History of My State,” Alabama was on the verge of collapse.

    “By the time the second income-tax vote was counted, only 16 of Alabama’s 116 school districts were able to pay their teachers a full salary,” Jackson wrote. “As 1932 drew to a close officials in Montgomery were warning that as many as half the schools in the state would not open in January.”

    Hamill sees parallels between Miller and the current governor, Robert Bentley. Both men were conservatives who had run on no-new-taxes pledges. But both presided over crushing fiscal crises.

    “He (Miller) was not a progressive governor at all. He was kind of like what Gov. Bentley’s going through,” she said. “Gov. Bentley is experiencing in a sort of metaphorical way what Gov. Miller experienced in the ’30s.”

    Over the ensuing decades, though, inflation eroded the buying power of $3,600. The state failed to adjust the threshold.

    “The problem is, we never updated it,” said Jim Carnes, the policy director for Arise. “It’s really kind of stunning how progressive that was.”

    Prior to 2006, the taxing threshold had been raised to just $4,600 for a family of four. In 2006, the state raised it to $12,600. But that still is the lowest in the nation among states that have an income tax, barely more than half of the federal poverty line — $24,008 for a family of four in 2014.

    By contrast, Mississippi exempts the first $19,600 of income for a family of four.

    The top 5 percent income tax applies to two out of every three families in Alabama. Arise uses a hypothetical example of a family of four earning at the poverty line. In Alabama, that family would pay $618 in state income taxes. In all 15 other states, it would pay nothing.

    The standard and dependent deductions are low, too. For individuals, it is $2,500, less than half the federal deduction. The maximum for couples is $7,500, barely more than half the federal level.

    Hamill said making exemptions and deductions more generous would make the tax code more progressive. However, she pointed out, it would raise less money absent any other changes.

    “If you don’t replace the revenue from somewhere else, you lose the revenue,” she said.

    The Arise budget book, which details how the state spends some $29 billion in state and federal revenue, repeats a number of recommendations that the group has pushed for years. A coy of the book can be ordered for free at at arisecitizens.org.

    Here are some of the recommendations:

    • Increase the personal exemption from $1,500 to $3,900.

    • Remove or rebate the state sales tax on groceries and other necessities.

    • Increase overall property tax rates. Raise the minimum local millage rate required for schools from 10 mills to 20 mills.