URGENT NEWS
It was reported in the Kansas City Star this morning, that the tax credit taxpayers received this year from the American Recovery and Reinvestment Act of 2009 may cause some taxpayers to owe federal taxes back to the Internal Revenue Service (IRS) or receive a lesser tax refund. The tax withholding tables issued by the IRS did not take into consideration various wage earner scenarios, including two-income couples or individuals that worked two different jobs, when applying the tax credit into the taxpayer’s net pay last spring.
See the attached link to the article, which clearly describes the problem and explains what some taxpayers need to expect when filing their 2009 personal income tax return next year. The Office of Financial Management is asking that you post and/or forward this news article in your department, so that your employees are aware of the situation, and that they can plan appropriately. Please consult a tax advisor if you have questions on how this might affect your 2009 personal income tax return.
2010 TAX Deadlines
**February 25th- JRC in office deadline for timely completion of your corporate taxes.
** March 25- JRC in office deadline for timely completion of your individual taxes.
JRC Clients
If you are thinking of home improvements in 2009 or 2010, please check out this link before you purchase: windows, doors, siding, insulation, HVAC, etc. It gives you the parameters in order to claim your maximum tax credit of $1500 on energy efficient items.