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Tips for Businesses TIPS FOR INDIVIDUALS: Am I Able To Increase My Itemized Deductions?YES! Keep track of out of pocket expenses as well as mileage for work you do for charities...Boy Scouts, Girl Scouts, etc. Remember to include state taxes that were deducted on your W-2 that you received. Often these taxes are overlooked. Of course, deduct interest and real estate taxes on your principal residence and vacation home. Can I Receive My Income Tax Refund Check That Was Not Delivered In 2005? YES! The Internal Revenue Service is seeking 84,290 taxpayers whose income tax refund could not be delivered in 2005. Visit www.irs.gov to download Form 8822, Change of Address. You can also request the form by calling 1-800-TAX-FORM (1-800-829-3676). Can I Amend A Return That Has Previously Been Amended? YES! Since you are required to file an accurate tax return, you can amend a return that has been amended before. This will not increase your risk of an audit. Can I Save On My State Income Taxes? YES! Save state taxes by investing in municipal bonds issued by your state of residence. They are issued free of state income taxes. Can I Pay My Tax Bill By Credit Card? YES! The IRS does accept payments made with Mastercard, American Express or Discover cards. |