You’ve worked hard your whole life and now you’re ready to retire. You’ve saved, invested, and put money in your 401K. You’re set; ready to enjoy the good life. Before you get too comfortable, there are a few things you may not have considered. [More]
All returns containing an Education Credit will be delayed by the IRS until further notice.
The IRS announced on an industry call with software vendors participating in the Controlled Launch this morning that they would start rejecting any e-file that contains Form 8863 (Education Credits) effective immediately. [More]
The IRS will begin processing most individual income tax returns on Jan. 30. Due to last minute changes by Congress, the IRS needed additional time to update forms and schedules and final law requires some changes before the IRS can begin accepting tax returns. [More]
The amount for the Earned Income Credit has increased and it is sure to result in larger refunds at RHODES-MURPHY Income Tax Service. If you qualify, it could increase your Federal Refund by $5,891 if you have 3 or more qualifying children, $5,236 if you have 2 qualifying children, and $3,169 with one qualifying child. [More]
Many people don’t realize who they may be able to claim on their tax return. It can be quite confusing at times but knowing who you can claim can save you tax dollars.
Did you know that you can possibly claim your parent, grandparent, nephew, niece, or other qualified relative that didn’t live with you? In addition, you can possibly claim some... [More]
What new things can you expect from Rhodes-Murphy this tax season? Watch the video below to find out!
Kroger was one of the first grocery stores in the area to offer fuel perks. In short, every time you made a purchase at Kroger totaling more than $100 you could use these rewards to receive 10 cents off of each gallon of gas (in one visit). Kroger wasn’t the only player in the game for long though as many other stores, such as BiLo began offering t... [More]
Year after year we have customers come in to Rhodes Murphy offices with questions about filing back taxes. The sooner you address these issues the better and we want to help you. We are now past the filing deadline for ALL 2011 tax returns. If you haven’t filed, chances are you are going to face repercussion from the IRS for your indiscretion. Keep... [More]
When I talk to our tax preparers here at Rhodes Murphy record keeping is commonly mentioned as one of the biggest pitfalls their clients face. Many things require good record keeping such as business use of home, charitable donations, medical receipts, and childcare expenses. Just because it’s not “tax time” doesn’t mean that you shouldn’t be keepi... [More]
While many of us mark April 15th on our calendars as the deadline for filing tax returns. The IRS however does not close efile until mid-October before turning things over to the next filing season, this year that efile deadline is October 17th. The majority of tax payers will still be subject to this deadline and any returns filed after that point... [More]