Saturday, January 29, 2011

FREE NATION WIDE TAX HELP ! ! !

FREE TAX SERVICE IS AVAILABLE FOR ALL TAX PAYERS NATION WIDE THROUGH VOLUNTEER INCOME TAX ASSISTANCE (VITA)  CENTERS WHO HAVE
1. INCOME LESS THAN 49,000$.
2. FOR NEAREST VITA CENTER CALL (800) 906 9887
 YMA Facebook Page: 
http://www.facebook.com/pages/Yajnik-Mehta-Associates/158173734230162
For More Information call  Kash Yajnik @ Yajnik & Mehta Asociates (YMA),  (925) 963 4891   

Friday, January 21, 2011

LOOK FOR "PTIN" IN YOUR FEDERAL TAX RETURNS...

NEW REGULATIONS REQUIRE THAT ALL PAID TAX PREPARERS SHOULD APPLY FOR AND GET PREPARER TAX IDENTIFICATION NUMBER (PTIN), INCLUDING THOSE WHO ALREADY HAVE ONE, BEFORE PREPARING FEDERAL RETURNS IN 2011.

THIS IS DONE BY IRS TO REGULATE TAX PREPARATION INDUSTRY. THE TAX RETURN PREPARERS HAVE TO REGISTER WITH IRS AND MEET CONTUING EDUCATION REQUIREMENTS AND FOLLOW ETHICAL STANDARDS  PER IRS CIRCULAR 230.
LOOK FOR PTIN NUMBER BOX FILLED IN BY THE TAX RETURN PREPARER IN 1040 FORMS. FOLLOW ON THE BLOG AND POST YOUR COMMENTS.

 YMA Facebook Page: 

Friday, January 7, 2011

WHEN SHOULD I FILE FEDERAL TAX RETURN ?

FILE A RETURN IF FOLLOWING SITUATIONS APPLY:

1.  IT DEPENDS UPON YOUR FILING STATUS AND GROSS ANNUAL INCOME. IF THE GROSS ANNUAL INCOME EXCEEDS STANDARD DEDUCTION PLUS THE EXEMPT
 PERSONAL INCOME, THE TAX RETURN SHOULD BE FILED.
2. FILE A RETURN TO GET BACK WITHHELD TAX EVEN IF YOU DON'T HAVE TO FILE A RETURN.
3. FILE A RETURN TO CLAIM TAX CREDITS SUCH AS MAKING WORK PAY CREDIT, EARNED INCOME CREDIT, ADDITIONAL CHILD TAX CREDIT, EDUCATION
(AMERICAN OPPORTUNITY) CREDIT, FIRST TIME HOME BUYER CREDIT, HEALTH COVERAGE CREDIT ETC.


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