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Topic: Tax Credits

IRS says Tax Benefits available for those with Disabilities


Internal Revenue Service - IRSWashington, D.C. – Taxpayers with disabilities and parents of children with disabilities may qualify for a number of IRS tax credits and benefits.

Listed below are seven tax credits and other benefits which may be available if you or someone else listed on your federal tax return has a disability. «Read the rest of this article»

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Veteran Tax Credits Extended and Increased in Scope


Law Encourages Businesses to Hire Vets and Helps Vets Find Work

Tennessee Department of Labor and Workforce DevelopmentNashville, TN – The Vow to Hire Heroes Act of 2011 amends and expands definitions of the veteran target groups for employers hiring veterans through the Work Opportunity Tax Credit program.

“The Vow to Hire Heroes Act provides tax incentives for employers to hire both short-term and long-term unemployed veterans and affords larger tax credits for hiring certain categories of veterans,” said Labor & Workforce Development Commissioner Karla Davis. “The extension of the veterans’ category of the Work Opportunity Tax Credit is a needed strategy to increase employment opportunities for veterans and to reduce the unsatisfactorily high unemployment rate of veterans.” «Read the rest of this article»

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Locals gathered to watch President Obama’s 2012 State of the Union Address


President Barack Obama delivers the 2012 State of the Union Address

President Barack Obama delivers the 2012 State of the Union Address

Clarksville, TN – Clarksville for Obama held a 2012 State of the Union watch party at the New South Coffee Company where supporters gathered to listen as President Barack Obama delivered the 2012 State of the Union Address to the Nation, the Senate, and Congress.

The President laid out his plan for an economy built on American manufacturing, American energy, new skills for American workers, and a renewal of American values. During the State of the Union Address the 40 plus supporters in attendance clapped more than 2 dozen times in agreement with the President and some even cried tears of joy and pride when the President touched upon issues and legislation that would put money back into the hands of middle class Americans.

«Read the rest of this article»

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IRS Urges Taxpayers to Avoid Becoming Victims of Tax Scams


Internal Revenue Service - IRSWashington, D.C. – The Internal Revenue Service today encouraged taxpayers to guard against being misled by unscrupulous individuals trying to persuade them to file false claims for tax credits or rebates.

The IRS has noted an increase in tax-return-related scams, frequently involving unsuspecting taxpayers who normally do not have a filing requirement in the first place. These taxpayers are led to believe they should file a return with the IRS for tax credits, refunds or rebates for which they are not really entitled. Many of these recent scams have been reported in the South and Midwest. «Read the rest of this article»

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IRS Offers Summer Tax Tips


Nashville, TN – Before you start a summer job, take a vacation, or send the kids off to camp, the Internal Revenue Service wants you to know that certain summertime activities may qualify you for tax breaks, but there are also some tax issues that must be handled correctly now to avoid problems later.

“Knowledge of the rules can help make sure you get all the possible tax benefits from summertime activities,” said IRS spokesman Dan Boone.

Here are some tips from the IRS that may help you lower your taxes and avoid tax problems: «Read the rest of this article»

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New Tennessee laws are in effect


Despite tight revenues, state finishes fiscal year on schedule, lawmakers save jobs, education programs. (See complete text below of newly published Public Chapters of the Tennessee Code Annotated.)

tn-legislatureNASHVILLE – While several other states struggle to close out the fiscal year ending Wednesday, Tennessee has already published new laws passed during its recently completed legislative session.

“We didn’t have a $24 billion shortfall in revenue like the legislators in California are struggling with, but it was still a tight budget year in Tennessee,” Senator Lowe Finney of Jackson, incoming chairman of the Senate Democratic Caucus, said.

Still, we were able to protect our better schools program – pre-K in particular – and we can move ahead with projects that will put Tennesseans back to work.

That’s good for our families, our hometown economies and our state revenue. As more jobs begin to open up – thanks to projects like the West Tennessee industrial megasite – we can build a stable tomorrow for Tennesseans.

Among the laws now in effect:

  • Increased energy efficiency is now required in state buildings and vehicles.
  • Sex offenders are prohibited from being within 1,000 feet of certain places where children are likely to gather.
  • Tennessee driver’s licenses now print birthdates larger to make them easier for retailers to read.
  • Vending machines installed on state property after July 1 must use energy efficient lighting, and the new lighting must be installed on any that are repaired.

«Read the rest of this article»

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