Don't let money slip through your hands! Call RWB Tax Services today, (770)222-6497. from irs.gov IRS Has $1.3 Billion for People Who Have Not Filed a 2005 Tax Return  WASHINGTON — Unclaimed refunds totaling approximately $1.3 billion are awaiting over a million people who did not file a federal income tax return for 2005, the Internal Revenue Service announced today. However, to collect the money, a return for 2005 must be filed with the IRS no later than Tuesday, April 15, 2009. Especially in these tough economic times, people should not lose out on money that is rightfully theirs," said IRS Commissioner Doug Shulman. “People should check their records, especially if they had taxes withheld from their paychecks but were not required to file a tax return.  They may be leaving money on the table, including valuable tax credits that can mean even more money in their pockets." The IRS estimates that half of those who could claim refunds for tax year 2005 would receive more than $581. Some individuals may not have filed because they had too little income to require filing a tax return even though they had taxes withheld from their wages or made quarterly estimated payments.  In cases where a return was not filed, the law provides most taxpayers with a three-year window of opportunity for claiming a refund. If no return is filed to claim the refund within three years, the money becomes property of the U.S. Treasury. For 2005 returns, the window closes on April 15, 2009. The law requires that the return be properly addressed, postmarked and mailed by that date. There is no penalty assessed by the IRS for filing a late return qualifying for a refund. The IRS reminds taxpayers seeking a 2005 refund that their checks will be held if they have not filed tax returns for 2006 or 2007. In addition, the refund will be applied to any amounts still owed to the IRS and may be used to satisfy unpaid child support or past due federal debts such as student loans. By failing to file a return, individuals stand to lose more than refunds of taxes withheld or paid during 2005. Many low-income workers may not have claimed the Earned Income Tax Credit (EITC). Generally, unmarried individuals qualified for the EITC if in 2005 they earned less than $35,263 and had more than one qualifying child living with them, earned less than $31,030 with one qualifying child, or earned less than $11,750 and had no qualifying child. Limits are slightly higher for married individuals filing jointly. Current and prior year tax forms and instructions are available on the Forms and Publications web page of IRS.gov or by calling 1-800-TAX-FORM (1-800-829-3676). Information about the Earned Income Tax Credit and how to claim it is also available on IRS.gov. Taxpayers who need help also can call the toll-free IRS help line at 1-800-829-1040. Individuals Who Did Not File a 2005 Return with an Estimated Refund     Total     Median Estimated     Estimated Refunds   Individuals Refund* ($000)* Alabama 21,400 $585 $18,167 Alaska 6,100 $665 $6,925 Arizona 36,900 $487 $31,234 Arkansas 11,400 $547 $9,756 California 154,500 $537 $144,580 Colorado 23,700 $532 $20,676 Connecticut 16,000 $659 $18,234 Delaware 5,400 $592 $5,117 Dist of Columbia 5,300 $564 $5,518 Florida 99,300 $609 $108,162 Georgia 44,400 $538 $39,381 Hawaii 9,400 $639 $11,108 Idaho 5,300 $464 $4,113 Illinois 50,400 $640 $53,166 Indiana 26,600 $624 $24,041 Iowa 11,800 $587 $9,367 Kansas 12,900 $555 $10,804 Kentucky 14,600 $588 $12,506 Louisiana 24,900 $594 $24,388 Maine 4,900 $532 $3,928 Maryland 30,600 $584 $29,967 Massachusetts 29,600 $638 $31,942 Michigan 45,100 $609 $42,390 Minnesota 19,700 $531 $17,085 Mississippi 12,200 $533 $10,311 Missouri 26,000 $550 $21,237 Montana 3,700 $509 $3,125 Nebraska 5,900 $548 $5,091 Nevada 18,300 $551 $17,588 New Hampshire 5,500 $667 $5,759 New Jersey 41,100 $646 $43,761 New Mexico 9,400 $532 $7,724 New York 76,800 $639 $82,994 North Carolina 37,300 $515 $29,645 North Dakota 2,000 $553 $1,647 Ohio 44,600 $571 $37,290 Oklahoma 17,000 $546 $14,541 Oregon 21,000 $467 $16,138 Pennsylvania 47,800 $623 $43,958 Rhode Island 4,500 $610 $4,332 South Carolina 16,000 $506 $13,240 South Dakota 2,400 $602 $2,046 Tennessee 21,900 $586 $19,917 Texas 103,000 $624 $105,241 Utah 8,300 $496 $8,334 Vermont 2,300 $550 $1,730 Virginia 40,200 $576 $40,657 Washington 35,600 $624 $39,414 West Virginia 4,900 $627 $4,389 Wisconsin 16,900 $535 $13,825 Wyoming 2,800 $649 $2,785 Armed Forces 5,500 $800 $4,540 US Possessions/Territories 200 $754 $320 Total 1,343,000 $581 $1,284,133 *Excluding the Earned Income Credit and other taxes. ...read more

One of 2009's biggest concerns from taxpayers is, What happens to me when I lose my house through foreclosure?" Here is some helpful information straight from the IRS website regarding the Mortgage Forgiveness Debt Relief Act and Debt Cancellation legislation. from irs.gov If you owe a debt to someone else and they cancel or forgive that debt, the canceled amount may be taxable.The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief.This provision applies to debt forgiven in calendar years 2007 through 2012. Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately). The exclusion does not apply if the discharge is due to services performed for the lender or any other reason not directly related to a decline in the home’s value or the taxpayer’s financial condition.More information, including detailed examples can be found inPublication 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonments. Also see IRS news releaseIR-2008-17.The following are the most commonly asked questions and answers about The Mortgage Forgiveness Debt Relief Act and debt cancellation:What is Cancellation of Debt?If you borrow money from a commercial lender and the lender later cancels or forgives the debt, you may have to include the cancelled amount in income for tax purposes, depending on the circumstances. When you borrowed the money you were not required to include the loan proceeds in income because you had an obligation to repay the lender. When that obligation is subsequently forgiven, the amount you received as loan proceeds is normally reportable as income because you no longer have an obligation to repay the lender. The lender is usually required to report the amount of the canceled debt to you and the IRS on a Form 1099-C, Cancellation of Debt.Here’s a very simplified example. You borrow $10,000 and default on the loan after paying back $2,000. If the lender is unable to collect the remaining debt from you, there is a cancellation of debt of $8,000, which generally is taxable income to you.Is Cancellation of Debt income always taxable?Not always. There are some exceptions. The most common situations when cancellation of debt income is not taxable involve: Qualified principal residence indebtedness: This is the exception created by the Mortgage Debt Relief Act of 2007 and applies to most homeowners. Bankruptcy: Debts discharged through bankruptcy are not considered taxable income. Insolvency: If you are insolvent when the debt is cancelled, some or all of the cancelled debt may not be taxable to you. You are insolvent when your total debts are more than the fair market value of your total assets. Certain farm debts: If you incurred the debt directly in operation of a farm, more than half your income from the prior three years was from farming, and the loan was owed to a person or agency regularly engaged in lending, your cancelled debt is generally not considered taxable income. Non-recourse loans: A non-recourse loan is a loan for which the lender’s only remedy in case of default is to repossess the property being financed or used as collateral. That is, the lender cannot pursue you personally in case of default. Forgiveness of a non-recourse loan resulting from a foreclosure does not result in cancellation of debt income. However, it may result in other tax consequences. These exceptions are discussed in detail in Publication 4681.What is the Mortgage Forgiveness Debt Relief Act of 2007?The Mortgage Forgiveness Debt Relief Act of 2007 was enacted on December 20, 2007 (see News Release IR-2008-17). Generally, the Act allows exclusion of income realized as a result of modification of the terms of the mortgage, or foreclosure on your principal residence.What does exclusion of income mean?Normally, debt that is forgiven or cancelled by a lender must be included as income on your tax return and is taxable. But the Mortgage Forgiveness Debt Relief Act allows you to exclude certain cancelled debt on your principal residence from income. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief.Does the Mortgage Forgiveness Debt Relief Act apply to all forgiven or cancelled debts?No. The Act applies only to forgiven or cancelled debt used to buy, build or substantially improve your principal residence, or to refinance debt incurred for those purposes. In addition, the debt must be secured by the home. This is known as qualified principal residence indebtedness. The maximum amount you can treat as qualified principal residence indebtedness is $2 million or $1 million if married filingseparately.Does the Mortgage Forgiveness Debt Relief Act apply to debt incurred to refinance a home?Debt used to refinance your home qualifies for this exclusion, but only to the extent that the principal balance of the old mortgage, immediately before the refinancing, would have qualified. For more information, including an example, see Publication 4681.How long is this special relief in effect?It applies to qualified principal residence indebtedness forgiven in calendar years 2007 through 2012.Is there a limit on the amount of forgiven qualified principal residence indebtedness that can be excluded from income?The maximum amount you can treat as qualified principal residence indebtedness is $2 million ($1 million if married filing separately for the tax year), at the time the loan was forgiven. If the balance was greater, see the instructions to Form 982 and the detailed example in Publication 4681.If the forgiven debt is excluded from income, do I have to report it on my tax return?Yes. The amount of debt forgiven must be reported onForm 982and this form must be attached to your tax return.Do I have to complete the entire Form 982?No. Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Adjustment), is used for other purposes in addition to reporting the exclusion of forgiveness of qualified principal residence indebtedness. If you are using the form only to report the exclusion of forgiveness of qualified principal residence indebtedness as the result of foreclosure on your principal residence, you only need to complete lines 1e and 2. If you kept ownership of your home and modification of the terms of your mortgage resulted in the forgiveness of qualified principal residence indebtedness, complete lines 1e, 2, and 10b. Attach the Form 982 to your tax return.Where can I get this form?If you use a computer to fill out your return, check your tax-preparation software. You can also download the form at IRS.gov, or call 1-800-829-3676. If you call to order, please allow 7-10 days for delivery.How do I know or find out how much debt was forgiven?Your lender should send a Form 1099-C, Cancellation of Debt, by February 2, 2009. The amount of debt forgiven or cancelled will be shown in box 2. If this debt is all qualified principal residence indebtedness, the amount shown in box 2 will generally be the amount that you enter on lines 2 and 10b, if applicable, on Form 982. Can I exclude debt forgiven on my second home, credit card or car loans?Not under this provision. Only cancelled debt used to buy, build or improve your principal residence or refinance debt incurred for those purposes qualifies for this exclusion. See Publication 4681 for further details.If part of the forgiven debt doesn't qualify for exclusion from income under this provision, is it possible that it may qualify for exclusion under a different provision?Yes. The forgiven debt may qualify under the insolvency exclusion. Normally, you are not required to include forgiven debts in income to the extent that you are insolvent.  You are insolvent when your total liabilities exceed your total assets. The forgiven debt may also qualify for exclusion if the debt was discharged in a Title 11 bankruptcy proceeding or if the debt is qualified farm indebtedness or qualified real property business indebtedness. If you believe you qualify for any of these exceptions, see the instructions for Form 982. Publication 4681 discusses each of these exceptions and includes examples.I lost money on the foreclosure of my home. Can I claim a loss on my tax return?No.  Losses from the sale or foreclosure of personal property are not deductible. If I sold my home at a loss and the remaining loan is forgiven, does this constitute a cancellation of debt?Yes. To the extent that a loan from a lender is not fully satisfied and a lender cancels the unsatisfied debt, you have cancellation of indebtedness income. If the amount forgiven or canceled is $600 or more, the lender must generally issue Form 1099-C, Cancellation of Debt, showing the amount of debt canceled. However, you may be able to exclude part or all of this income if the debt was qualified principal residence indebtedness, you were insolvent immediately before the discharge, or if the debt was canceled in a title 11 bankruptcy case.  An exclusion is also available for the cancellation of certain nonbusiness debts of a qualified individual as a result of a disaster in a Midwestern disaster area.  See Form 982 for details.If the remaining balance owed on my mortgage loan that I was personally liable for was canceled after my foreclosure, may I still exclude the canceled debt from income under the qualified principal residence exclusion, even though I no longer own my residence? Yes, as long as the canceled debt was qualified principal residence indebtedness. See Example 2 on page 13 of Publication 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonments.Will I receive notification of cancellation of debt from my lender?Yes. Lenders are required to send Form 1099-C, Cancellation of Debt, when they cancel any debt of $600 or more. The amount cancelled will be in box 2 of the form.What if I disagree with the amount in box 2?Contact your lender to work out any discrepancies and have the lender issue a corrected Form 1099-C.How do I report the forgiveness of debt that is excluded from gross income?(1) Check the appropriate box under line 1 on Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment) to indicate the type of discharge of indebtedness and enter the amount of the discharged debt excluded from gross income on line 2.  Any remaining canceled debt must be included as income on your tax return.(2) File Form 982 with your tax return.My student loan was cancelled; will this result in taxable income?In some cases, yes. Your student loan cancellation will not result in taxable income if you agreed to a loan provision requiring you to work in a certain profession for a specified period of time, and you fulfilled this obligation.Are there other conditions I should know about to exclude the cancellation of student debt?Yes, your student loan must have been made by: (a) the federal government, or a state or local government or subdivision;(b) a tax-exempt public benefit corporation which has control of a state, county or municipal hospital where the employees are considered public employees; or(c) a school which has a program to encourage students to work in underserved occupations or areas, and has an agreement with one of the above to fund the program, under the direction of a governmental unit or a charitable or educational organization. Can I exclude cancellation of credit card debt? In some cases, yes. Nonbusiness credit card debt cancellation can be excluded from income if the cancellation occurred in a title 11 bankruptcy case, or to the extent you were insolvent just before the cancellation. See the examples in Publication 4681. How do I know if I was insolvent? You are insolvent when your total debts exceed the total fair market value of all of your assets.  Assets include everything you own, e.g., your car, house, condominium, furniture, life insurance policies, stocks, other investments, or your pension and other retirement accounts. How should I report the information and items needed to prove insolvency? Use Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Basis Adjustment) to exclude canceled debt from income to the extent you were insolvent immediately before the cancellation.  You were insolvent to the extent that your liabilities exceeded the fair market value of your assets immediately before the cancellation. To claim this exclusion, you must attach Form 982 to your federal income tax return.  Check box 1b on Form 982, and, on line 2, include the smaller of the amount of the debt canceled or the amount by which you were insolvent immediately prior to the cancellation.  You must also reduce your tax attributes in Part II of Form 982. My car was repossessed and I received a 1099-C; can I exclude this amount on my tax return? Only if the cancellation happened in a title 11 bankruptcy case, or to the extent you were insolvent just before the cancellation. See Publication 4681 for examples. ...read more

from irs.gov Expanded Tax Break Available for 2009 First-Time Homebuyers  WASHINGTON — The Internal Revenue Service announced today that taxpayers who qualify for the first-time homebuyer credit and purchase a home this year before Dec. 1 have a special option available for claiming the tax credit either on their 2008 tax returns due April 15 or on their 2009 tax returns next year. Qualifying taxpayers who buy a home this year before Dec. 1 can get up to $8,000, or $4,000 for married filing separately. “For first-time homebuyers this year, this special feature can put money in their pockets right now rather than waiting another year to claim the tax credit," said IRS Commissioner Doug Shulman. “This important change gives qualifying homebuyers cash they do not have to pay back.” The IRS has posted a revised version of Form 5405, First-Time Homebuyer Credit, on IRS.gov. The revised form incorporates provisions from the American Recovery and Reinvestment Act of 2009. The instructions to the revised Form 5405 provide additional information on who can and cannot claim the credit, income limitations and repayment of the credit. This year, qualifying taxpayers who buy a home before Dec. 1, 2009, can claim the credit on either their 2008 or 2009 tax returns. They do not have to repay the credit, provided the home remains their main home for 36 months after the purchase date. They can claim 10 percent of the purchase price up to $8,000, or $4,000 for married individuals filing separately. The amount of the credit begins to phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers. For purposes of the credit, you are considered to be a first-time homebuyer if you, and your spouse if you are married, did not own any other main home during the three-year period ending on the date of purchase. The IRS also alerted taxpayers that the new law does not affect people who purchased a home after April 8, 2008, and on or before Dec. 31, 2008. For these taxpayers who are claiming the credit on their 2008 tax returns, the maximum credit remains 10 percent of the purchase price, up to $7,500, or $3,750 for married individuals filing separately. In addition, the credit for these 2008 purchases must be repaid in 15 equal installments over 15 years, beginning with the 2010 tax year. Call RWB Tax Services today to find out to take advantage of this great tax break! RWB Tax Services (770)222-6497 ...read more

Just a quick reminder- RWB Tax Services - Hiram will prepare your dependent's tax return and e-file it for FREE!!! Call us today for an appointment! (770) 222-6497 ...read more

Many Taxpayers who would not normally file an income tax return need to do so this year if they want to receive the economic stimulus rebate the federal government is proposing for some low-income workers and for Social Security, veteran̢۪s benefits and some Railroad Retirement benefits recipients. Those checks will range from $300 to $600 for individuals and $600 to $1,200 for joint filers, with possibly another $300 per qualifying child, according to the IRS. If know someone in this situation, tell them to call us and we will prepare their tax return for free!!! (770) 222-6497 ...read more

50% Discount on Tax Returns! We are offering a 50% discount on our first appointment of the day, seven days a week! Call us for an appointment at 9:00am, or even earlier, and see if you are the lucky one!  The 50% discount is for tax preparation services only.  We offer Refund Anticipation Loans, Debit Card disbursement and Electronic Refund checks, all funded through Republic National Bank and cashed locally at Bank of America locations. Call us today to make your appointment, 770-222-6497. Each RWB Tax Service location is independently owned and operated. ...read more

FREE TAX RETURNS!! We are doing free returns for those folks who don't normally file tax returns but need to this year in order to receive the rebate from the economic stimulus package. This includes those that receive Social Security and veteran's benefits who don't normally file a return. Please tell anyone you know that might miss out on the opportunity to receive the tax rebate. Call our office, 770-222-6497, for more information! ...read more

from IRS.gov- IRS Warns Taxpayers of New E-mail Scams Updated Jan. 14, 2008 — A new variation of the refund scheme may be directed toward organizations that distribute funds to other organizations or individuals. In an attempt to seem legitimate, the scam e-mail claims to be sent by, and contains the name and supposed signature of, the Director of the IRS Exempt Organizations area of the IRS. The e-mail asks recipients to click on a link to access a form for a tax refund. In reality, taxpayers claim their tax refunds through the filing of an annual tax return, not a separate application form. Updated Nov. 7, 2007 — In a variation, an e-mail scam claims to come from the IRS and the Taxpayer Advocate Service (a genuine and independent organization within the IRS whose employees assist taxpayers with unresolved tax problems). The e-mail says that the recipient is eligible for a tax refund and directs the recipient to click on a link that leads to a fake IRS Web site. The IRS recommends that recipients do not click on links in, or open any attachments to, e-mails they receive that are unsolicited or that come from unknown sources. Updated Nov. 2, 2007 — A new scam e-mail that appears to be a solicitation from the IRS and the U.S. government for charitable contributions to victims of the recent Southern California wildfires has been making the rounds. A link in the e-mail, when clicked, sends the e-mail recipients to a Web site that looks like the IRS Web site, but isn't. They are then directed to click on a link that opens a donation form that asks for personal and financial information. The scammers can use that information to gain access to the e-mail recipients' financial accounts. The IRS does not send e-mails to taxpayers soliciting contributions to a charitable cause. Updated Sept. 19, 2007 — Another recent e-mail scam tells taxpayers that the IRS has calculated their "fiscal activity" and that they are eligible to receive a tax refund of a certain amount. Taxpayers receive a page of, or are sent to, a Web site (titled "Get Your Tax Refund!") that copies the appearance of the genuine "Where's My Refund?" interactive page on the genuine IRS Web site. Like the real "Where's My Refund?" page, taxpayers are asked to enter their SSNs and filing status. However, the phony Web page asks taxpayers to enter their credit card account numbers instead of the exact amount of refund as shown on their tax return, as the real "Where's My Refund?" page does. Moreover, the IRS does not send e-mails to taxpayers to advise them of refunds or to request financial information. Updated Aug. 24, 2007 — The Internal Revenue Service today warned taxpayers of a new phishing scam, in which an e-mail purporting to come from the IRS advises taxpayers they can receive $80 by filling out an online customer satisfaction survey. The IRS urges taxpayers to ignore this solicitation and not provide any requested information. The IRS does not initiate contact with taxpayers through e-mail. Updated June 19, 2007 — In another recent scam, consumers have received a "Tax Avoidance Investigation" e-mail claiming to come from the IRS' "Fraud Department" in which the recipient is asked to complete an "investigation form," for which there is a link contained in the e-mail, because of possible fraud that the recipient committed. It is believed that clicking on the link may activate a Trojan Horse. IR-2007-109, May 31, 2007 WASHINGTON — The Internal Revenue Service today alerted taxpayers to the latest versions of an e-mail scam intended to fool people into believing they are under investigation by the agency’s Criminal Investigation division. The e-mail purporting to be from IRS Criminal Investigation falsely states that the person is under a criminal probe for submitting a false tax return to the California Franchise Tax Board. The e-mail seeks to entice people to click on a link or open an attachment to learn more information about the complaint against them. The IRS warned people that the e-mail link and attachment is a Trojan Horse that can take over the person’s computer hard drive and allow someone to have remote access to the computer. The IRS urged people not to click the link in the e-mail or open the attachment. Similar e-mail variations suggest a customer has filed a complaint against a company and the IRS can act as an arbitrator. The latest versions appear aimed at business taxpayers as well as individual taxpayers. The IRS does not send out unsolicited e-mails or ask for detailed personal and financial information. Additionally, the IRS never asks people for the PIN numbers, passwords or similar secret access information for their credit card, bank or other financial accounts. “Everyone should beware of these scam artists,” said Kevin M. Brown, Acting IRS Commissioner. “Always exercise caution when you receive unsolicited e-mails or e-mails from senders you don’t know.” Recipients of questionable e-mails claiming to come from the IRS should not open any attachments or click on any links contained in the e-mails. Instead, they should forward the e-mails to phishing@irs.gov (follow the instructions). The IRS also sees other e-mail scams that involve tricking victims into revealing private personal and financial information over the Internet, a practice that is known as “phishing” for information. The IRS and the Treasury Inspector General for Tax Administration work with the U.S. Computer Emergency Readiness Team (US-CERT) and various Internet service providers and international CERT teams to have the phishing sites taken offline as soon as they are reported. Since the establishment of the mail box last year, the IRS has received more than 17,700 e-mails from taxpayers reporting more than 240 separate phishing incidents. To date, investigations by TIGTA have identified host sites in at least 27 different countries, as well as in the United States. Other fraudulent e-mail scams try to entice taxpayers to click their way to a fake IRS Web site and ask for bank account numbers. Another widespread e-mail tells taxpayers the IRS is holding a refund (often $63.80) for them and seeks financial account information. Still another email claims the IRS’s ‘anti-fraud commission’ is investigating their tax returns. ...read more

01/15/07 Refund Anticipation Loans The phone has been ringing off the hook with folks looking for a refund anticipation loan using their last pay-stub.  To my knowledge there is not a legitimate tax service offering this service in 2008.  We are offering a $35 discount to everyone that has called asking if we offer pay-stub loans.  Call today, let me put you on the list and save $35!! RWB Tax Services Hiram offers afforadable Refund Anticipation Loans and a variety of other options to suit your circumstances. Call today - (770) 222-6497 ...read more

Here we go again! Tax season 2008 is upon us and RWB Tax Services Hiram is ready to assist you. Feel free to give us a call with your questions or to make an appointment in advance. Stay tuned for some great specials coming your way! ...read more

April 17th is the deadline for filing your 2006 tax return! With the deadline for filing your taxes approaching, RWB Tax Services wanted to remind you that we are available 24-7 for appointments.   We understand that not everyone can make an appointment during our normal business hours, call us today and let us know when you would like to come in. Drop off services are also available. Call RWB Tax Services now at 770-222-6497 ...read more

WIN $10,0000!! RWB Tax Services, LLC and Republic National Bank have joined forces to offer a drawing for $10,000.  There is no purchase necessary!  Come by the office and fill out an entry blank.  You could be the winner! Official rules are available at the RWB Tax Services, LLC office in Hiram, GA. Give us a call to find out more, (770) 222-6497. ...read more

01/10/06 So exactly who is this clown appearing in the mailboxes of Paulding County? "Lumpy" is the clown from a small town, with a big time personality.  Spending his time creating laughter and smiles with the help of children throughout the southeast, "Lumpy" makes the perfect centerpiece for our first official mailing.  "Lumpy" is also my father.  After a lifetime of hard work to support his family, my father retired, graduated from clown school, and is now working just as hard to put a little fun into the lives of kids.  It is not like he hasn't always been a clown, now he has a real outlet.  Growing up with my father was crazy enough, I can't imagine what it would be like to live with him now.  My mother puts up with it all, she is supportive of all his antics.   Laughter truly is a medicine. I can't tell you how proud I am of what my parents stand for.  If just a small part of that translates into our business we will be successful. Don't clown around with your taxes! Yours in blog, Mark ...read more

SHOULD YOU ITEMIZE? (from irs.gov) Whether to itemize deductions on your tax return depends on how much you spent on certain expenses last year. Money paid for medical care, mortgage interest, taxes, charitable contributions, casualty losses, and miscellaneous deductions can reduce your taxes. If the total amount spent on those categories is more than the standard deduction, you can usually benefit by itemizing. The standard deduction amounts are based on your filing status and are subject to inflation adjustments each year. For 2006, they are: * Single $5,150 * Married Filing Jointly $10,300 * Head of Household $7,550 * Married Filing Separately $5,150 Some taxpayers have different standard deductions The standard deduction is more for taxpayers age 65 or older and for those who are blind. It is generally less for those who can be claimed as a dependent on some other taxpayer’s return. Limited itemized deductions. Your itemized deductions may be limited if your adjusted gross income is more than $150,500 or $75,250 for Married Filing Separately. This limit applies to all itemized deductions except medical and dental expenses, casualty and theft losses, gambling losses, and investment interest. Stipulations for Married Filing Separately  When a married couple files separate returns and one spouse itemizes deductions, the other spouse must also itemize and cannot claim the standard deduction. Some taxpayers are not eligible for the standard deduction. They include nonresident aliens, dual-status aliens, and individuals who file returns for periods of less than 12 months. Forms to use. To itemize your deductions, use Form 1040, U.S. Individual Income Tax Return, and Schedule A, Itemized Deductions. Some taxpayers are not eligible for the standard deduction They include nonresident aliens, dual-status aliens, and individuals who file returns for periods of less than 12 months. If you have any questions, give us a call - (770) 222-6497 ...read more

01/10/07 A lot of people having been asking about the Telephone Excise Tax Refund. Here is a link from the IRS that explains the refund and how to file the correct form to collect the refund.  The Telephone Excise Tax Refund is a refundable credit, you may file for the refund even if you did not have to file a return. http://www.irs.gov/newsroom/article/0,,id=164032,00.html If you have any questions on any tax topic, feel free to give us a call at (770) 222-6497. 01/08/07 Here is the answer to a common tax question: Should you itemize? SHOULD YOU ITEMIZE?(from irs.gov)Whether to itemize deductions on your tax return depends on how much you spent on certain expenses last year. Money paid for medical care, mortgage interest, taxes, charitable contributions, casualty losses, and miscellaneous deductions can reduce your taxes. If the total amount spent on those categories is more than the standard deduction, you can usually benefit by itemizing. The standard deduction amounts are based on your filing status and are subject to inflation adjustments each year.For 2006, they are:* Single $5,150* Married Filing Jointly $10,300* Head of Household $7,550* Married Filing Separately $5,150Some taxpayers have different standard deductionsThe standard deduction is more for taxpayers age 65 or older and for those who are blind. It is generally less for those who can be claimed as a dependent on some other taxpayer’s return. Limited itemized deductions. Your itemized deductions may be limited if your adjusted gross income is more than $150,500 or $75,250 for Married Filing Separately. This limit applies to all itemized deductions except medical and dental expenses, casualty and theft losses, gambling losses, and investment interest.Stipulations for Married Filing Separately When a married couple files separate returns and one spouse itemizes deductions, the other spouse must also itemize and cannot claim the standard deduction. Some taxpayers are not eligible for the standard deduction. They include nonresident aliens, dual-status aliens, and individuals who file returns for periods of less than 12 months. Forms to use. To itemize your deductions, use Form 1040, U.S. Individual Income Tax Return, and Schedule A, Itemized Deductions.Some taxpayers are not eligible for the standard deductionThey include nonresident aliens, dual-status aliens, and individuals who file returns for periods of less than 12 months.If you have any questions, give us a call - (770) 222-6497 01/04/07 As we get ready for the wild ride of tax season 2007, RWB Tax Services would like to kick off things with our first tax info tip of 2007. This info is for all of the eBay and auction fanatics out there that love to sell their merchandise online. Tax Responsibilities for Online Auction Sellers More and more people are using the Internet as a place to sell goods. In some cases, these are sales of the seller’s personal used items and the seller realizes no profit. In other situations, however, online sellers are pursuing a profit and earn income from this activity. Online auction sellers must report gains from Internet sales by including those earnings in income for tax purposes. Find out more about online auction sellers and their tax responsibilities. (from irs.gov) If you have any questions related to taxes, call us at (770) 222-6497. ...read more