1040.com - Tax News & Articles

Tips for you for filing your IRS return
Jan. 16--It's time to file your 2009 taxes. Homebuyer Credit: First-time homebuyers could be eligible for a credit that's equal to 10 percent of the purchase price of a home, up to $8,000. If the buyer enters into a binding contract by April 30, they have until June 30 to settle on the purchase.

2009 Tax Changes for the Self-Employed
Prior to preparing 2009 tax forms, the self-employed and micro-businesses (fewer than 10 employees) should be aware of a few tax law changes, including changes in the standard mileage rate and the self-employment tax. "January is a great time to get a jump on your 2009 tax return," said Keith Hall, national tax advisor for the National Association for the Self-Employed (NASE). The following tax law changes relate to 2009 returns:

You can take steps to protect yourself when choosing a tax preparer
But if an inept tax preparer makes a hash out of your tax return, the repercussions could haunt you for years. When you file a tax return with the IRS, you're legally responsible for the information on the return. The IRS won't let you off the hook because someone else prepared your return.