Category Archives: Tax Tips

Key Tax Dates – June 2012

Here are some key tax dates for your diary. June 2012 15th – Individuals pay 2nd estimated tax installment 15th – Individuals outside the US file 1040 30th – Form TD F 90-22.1, FBAR needs to be filed Even if … Continue reading

Extension Of Time To File US Individual Tax Return

Are you struggling to get all the information together to file your 2011 tax return by the April 17, 2012 filing deadline? If so, make sure that your tax preparer submits form 4868 Application for Automatic Extension of Time To … Continue reading

Impact Of The 2012 UK Budget On UK Expats Living In The USA

The 2012 UK Budget was delivered on March 21, 2012. A few of the provisions have an impact on UK expats who are Green Card holders or have become US Citizens. Age Allowance To Be Abolished Starting from April 6, … Continue reading

Key Tax Dates – April 2012

Here are some key tax dates for your diary. April 2012 10th – Employees need to report to their employer tips earned in March of more than $20 17th – Individuals file forms 1040, 1040A and 1040EZ and pay tax … Continue reading

Mandatory E-Filing Of FBAR Delayed

The Financial Crimes Enforcement Network (FinCEN) has announced that mandatory e-filing of the Report of Foreign Bank and Financial Accounts (FBAR) has been delayed until July 1, 2013. The FBAR is an annual form (TD F 90-22.1) that certain US … Continue reading

2008 Income Tax Refund Deadline Approaching

UPDATE SEPTEMBER 20, 2012 – Although the deadline for claiming a Federal tax refund for 2008 has passed it is still possible to claim an Arizona income tax refund for 2008. Arizona allows four years to claim refunds so it … Continue reading

Key Tax Dates – March 2012

Here are some key tax dates for your diary. March 2012 12th – Employees need to report to their employer tips earned in February of more than $20 15th – Corporations file form 1120 and pay tax for 2011 calendar … Continue reading

Partnership K-1s Can Now Be Provided Electronically

Continuing its embracing of electronic communication the IRS has issued Revenue Procedure 2012-17 which allows partnerships to provide K-1s to their partners electronically. The partnership schedule K-1, Partner’s Share of Current Year Income, is a summary of the partner’s distributive … Continue reading

Payroll Tax Holiday Extended To End Of 2012

Our political leaders have finally got around to extending the payroll tax holiday to the end of 2012. That means for the rest of 2012 the employee social security rate will be 4.2% (2% lower than the normal rate). For … Continue reading

Work Opportunity Tax Credit – Employing Veterans

Have you employed veterans since November 22, 2011 or do you plan to employ veterans in 2012? If so you may be entitled to a generous tax credit called the Work Opportunity Tax Credit worth up to $9,600 per veteran … Continue reading