A Federal Reserve survey shows the U.S. economy held steady during the 16-day partial government shutdown, growing moderately in most regions from October through late November.More >>
A Federal Reserve survey released Wednesday found that the U.S. economy held steady during the 16-day partial government shutdown, growing moderately in most regions from October through late November.More >>
Thursday, October 17 2013 4:40 PM EDT2013-10-17 20:40:19 GMT
(RNN) - By passing a last-minute deal on the debt ceiling, and a 16 days-late deal on the government shutdown, Congress finally got back to doing its job. So, what now? Some people may see it as the timeMore >>
With a budget passed only until January, a debt ceiling deal through February and a bunch of days off for Congress until then, the country may be back in the same situation soon.More >>
Thursday, October 17 2013 5:27 AM EDT2013-10-17 09:27:22 GMT
A last-minute deal has been struck, allowing the federal government to avoid a shutdown. A shutdown would have suspended all federal government services deemed non-essential. All federally-funded museums,More >>
Congress has passed a bill to fund the government and lift the debt ceiling, avoiding default. More >>
Sunday, October 13 2013 6:52 PM EDT2013-10-13 22:52:24 GMT
WASHINGTON, DC (RNN) - Despite the WWII Memorial being closed, members of the Million Vet March have gathered in Washington, DC to protest the government shutdown – according to media reports. "We do notMore >>
Veterans gathered at the World War II Memorial in Washington, DC to protest the government shutdown.More >>
Saturday, October 12 2013 10:44 PM EDT2013-10-13 02:44:59 GMT
People nationwide have been unable to access welfare benefits through their EBT cards Saturday. Reports on the matter indicated the issue has no connection to the government shutdown.More >>
Xerox, which handles EBT systems in several states, said Saturday night the problem that prevented people from using their cards to shop has now been corrected. More >>
(RNN) – Taxes are complicated enough for most people – especially those who prepare their own returns – but they have become that much trickier with the passing of the American Taxpayer Relief Act of 2012.
In order to maximize the amount of money on a return, it is important for filers to remember common deductions they may qualify for.
According Mark Steber, chief tax officer at Jackson Hewitt Tax Service, there are thousands of tax deductions and tax credits available to taxpayers each year if they know where to look.
Some of the most commonly overlooked include:
Student loan interest paid
Hearing aids, eyeglasses and contact lenses
Required uniforms and work clothes not suitable for street wear
Business gifts up to $25 per customer or client
Cleaning and laundering services while traveling
Fees for tax preparation or advice
Tools bought for use at your job
Medical aids including crutches, canes and orthopedic shoes
Cell phones required for your business
Penalties for closing an interest bearing account, such as a certificate of deposit, before maturity
Out-of-pocket expenses for volunteer work
Life changes like getting married or divorced, having a baby, buying a home or caring for an aging parent also affect the amount of returns. It also important to know if employers deduct for expenses like training or other materials and services, and keep all receipts related to work.
Steber also recommended e-filing, which will speed up processing time and help confirm the IRA has received tax forms.
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