IRS

Queens’ Morning Roundup
Queens’ Morning Roundup
News Cristabelle Tumola 10/23/2013 at 8:18AM

TODAY’S FORECAST  Wednesday: Overcast with rain. High of 57. Winds from the NNE at 5 to 10 mph. Chance of rain 80%. Wednesday night: Overcast in the evening, then partly cloudy. Low of 43. Winds from the NW at 10 to 15 mph. EVENT OF THE DAY: Eric March: Cityscapes of Long Island City and Astoria In Cityscapes of [...]

What happens after I file my taxes?
News Barry Lisak 4/21/2013 at 9:40AM

Now that the federal income tax deadline is in your rear-view mirror, what happens after you file? A lot of taxpayers have post tax-filing questions such as what records should I keep and for how long? The IRS has answers for you. What Records Should I Keep? Normally, tax records should be kept for three [...]

Are you feeling anxious about your tax refund?
News Barry Lisak 4/07/2013 at 2:05PM

E-file, with bank direct deposit, is the fastest and safest way to receive your tax refund. If you already filed your Federal tax return and are due a refund, you have several options to check on your refund. Here are procedures the IRS wants you to know about checking on the status of your refund. [...]

Last-minute tips for filing your tax returns
News Barry Lisak 3/31/2013 at 10:34AM

The tax filing season is just around the corner. The IRS offers tips for taxpayers still working on their returns. File electronically. IRS e-file is safe, easy and the most common way to file. E-file is now the norm; not the exception. In 2011, nearly 110 million people used e-file to transmit their returns. If [...]

Post-Sandy tax relief
News Maggie Hayes 11/21/2012 at 3:49PM

Some good news is here for the victims of Superstorm Sandy. With many other problems at the forefront, the New York State Department of Taxation and Finance, and also the Internal Revenue Service (IRS) are giving taxpayers a bit of a break on their payments. The Department of Taxation and Finance announced on Thursday, November [...]

IRS to crack down on IRA tax rules
Business Ron Fatoullah 10/11/2012 at 10:16AM

An individual retirement account (IRA) is a form of retirement plan that provides tax advantages for those individuals who set aside savings for their future retirement. Taxpayers can contribute a certain amount each year and reduce their annual taxable incomes by the amount contributed. Further, until the individual IRA owner reaches the age of 70 [...]

Former 111th Precinct officer busted by DEA
Former 111th Precinct officer busted by DEA
News Toni Cimino 5/16/2012 at 11:13AM

This time, he was on the wrong side of the cuffs. Devon Daniels, formerly assigned to the 111th Precinct in Bayside, was arrested on Tuesday, May 15 for his role in allegedly aiding drug dealers. According to the Drug Enforcement Administration (DEA) Daniels, 30, “abused his authority and position of trust by accessing a computer [...]

Your Income Tax Filing Status
Your Income Tax Filing Status
Business Queens Courier Staff 1/19/2012 at 4:56PM

BY BARRY LISAK The first step to filing your federal income tax return is to determine which filing status to use. In other words, two people making exactly the same amount of income could have different tax calculations due solely to a difference in their filing status. Your filing status is used to determine your [...]

Responsibilities of A Special Needs Trustee
Business Queens Courier Staff 11/10/2011 at 5:25PM

A supplemental needs trust (SNT) is a vehicle through which an individual can provide for the needs of a chronically and severely disabled beneficiary by supplementing the beneficiary’s government benefits, rather than diminishing such benefits. Many government benefit programs, including Medicaid, count the assets and income of an individual for purposes of determining eligibility for [...]