Thursday, June 30, 2016

How to notify the IRS your address has changed

You can change your address on your tax return.
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You can use Form 8822 (if you would like to change your home mailing address) or   Form 8822-B (if you would like to change your business mailing address).
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You can send the IRS a signed written statement with you:
  • full name
  • old address
  • new address
  • social security number (or ITIN number or EIN number)
Mail your statement to the address where you filed your last return.
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 You can go to the IRS next to you. You'll need to inform them:
  • your full name
  • your address
  • your date of birth
  • your social security number (or ITIN number or EIN number) 
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You can call the IRS at +1 800-829-1040 and provide:
  • your full name
  • your address
  • your date of birth
  • your social security number (or ITIN number or EIN number) 
_________________________________________________________________________   
If you refund check was returned to the IRS, you can you use Where is my refund to complete your change of address online. You will need your SSN, filing status, and the amount of your refund. _________________________________________________________________________  

 If you filed a joint return, you should provide the information and signatures for both spouses.

 It can take four to six weeks for a change of address request to be fully processed.





contact@officetaxservices.com

(858)247-1680



 

Wednesday, June 29, 2016

If you claim standard deduction...


If you claim standard deduction, you cannot itemized deductions. 

The standard and itemized deduction is a dollar amount that reduces your taxable income, but you cannot claim both. You should claim whichever one is higher. 
Certain taxpayers cannot use the standard deduction:
  • A married individual filing as married filing separately whose spouse itemizes deductions.
  • An individual who files a tax return for a period of less than 12 months because of a change in his or her annual accounting period.
  • An individual who was a nonresident alien or a dual-status alien during the year. Nonresident aliens who are married to a U.S. citizen or resident alien at the end of the year and who choose to be treated as U.S. residents for tax purposes can take the standard deduction. 
  • An estate or trust, common trust fund, or partnership; 
Itemized deductions include amounts you paid for state and local income or sales taxes, real estate taxes, personal property taxes, mortgage interest, and disaster losses. You may also include gifts to charity and part of the amount you paid for medical and dental expenses. You would usually benefit by itemizing on Form 1040, Schedule A, if you:
  • Cannot use the standard deduction
  • Had large uninsured medical and dental expenses
  • Paid interest or taxes on your home
  • Had large unreimbursed employee business expenses
  • Had large uninsured casualty or theft losses, or
  • Made large charitable contributions

Your itemized deductions may be limited and your total itemized deductions may be phased out (reduced) if your adjusted gross income for 2015 exceeds the following threshold amounts for your filing status.

If you have any questions, send us a message or leave a comment. We will be more than happy to help you.




 





contact@officetaxservices.com

(858)247-1680