Family Tax Services LLC

IRS TIp on Gifting

                                                           IRS Tips on Gifting If you gave money or property to someone as a gift, you may wonder about the federal gift tax. Many gifts are not subject to the... READ MORE Posted April 01, 2011 at 08:43 AM

Tax cuts extended delay refunds

If you itemize deductions, that refund check may come later this spring. In a lump-of-coal announcement on the eve of Christmas Eve, the IRS announced that, due to last-minute maneuvering on Capitol Hill, the agency won't be ready to process more than 50 million returns until mid- to late-February. Since most returns demand refunds from the IRS, the delay means millions of taxpayers will have to wait to get their money back. When Congress okayed a big tax bill last week, attention focused on ... READ MORE Posted December 26, 2010 at 08:48 AM

Child Tax Credit Reduced

This coming year the child tax credit will be reduced from$1000 to 500 READ MORE Posted November 11, 2010 at 12:02 PM