Need a Transcript of Your Past Tax Information?
Jan 20, 2010 Tax Management
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You can obtain past tax return transcripts from the IRS. If you need copies there are two ways to obtain free copies – tax return transcripts and tax account transcripts. There is no charge for transcripts which are available for the current and past three years. A tax return transcript shows most of the line items from your tax return as they were originally filed BUT they will not look the same; they are not printed on the familiar looking 1040/1040A/1040EZ forms. Also note that it does not show any changes you, your tax preparer, or the IRS may have made since the original filing. A return transcript will in most cases satisfy requirements of lending institutions involved in mortgages or student loans.
Tags: 2009
Payment methods and distribution of the Making Work Pay Tax Credit
Jan 14, 2010 Tax Changes
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Making Work Pay Credit (MWPC) as noted in a previous blog post is a refundable credit available in 2009 and 2010 worth 6.2% of earned income up to $400 ($800, MFJ) for taxpayers with a valid for work social security number. You cannot be a dependent of another taxpayer or identified as a non-resident alien. If you receive earned income as an employee you more than likely began receiving this credit beginning in April, 2009 as a reduction in the amount of federal income tax withheld from your paycheck; though not large, an amount was proportionally reduced so that your net pay was greater than what it had been at the beginning of the calendar year. If you completed the IRS Form W-4 in 2009 using single withholding status, the total tax withholding for 2009 would have been reduced by $400 (those using a married withholding status, $600).
