SBWire

With the implementation of the Affordable Care Act, Americans who chose to opt out of health coverage will end up paying a rather high penalty. For a five person family with a high income, the penalty can max out at over $12,000 in 2014. This penalty is expected to rise significantly in 2015 and continue upwards by 2016.

March 2 is the deadline to mail out the 1099 and 1096 tax forms to IRS. ez1099 software is here to assist tax filers print tax forms in time. With ez1099 2015 edition, customers can print multiple tax forms by one click with the new multiple form printing feature.

Often, taxpayers have to choose between itemizing their deductions and taking a standard deduction when they are filing their taxes. A taxpayer should determine what their deductions amount to using both methods, and then choose which option decreases the amount of tax that they owe. Typically, the method that leads to the largest deduction will provide the biggest credit.

For those paying for their education, there are a few tax credits that can help decrease the amount owed. The American Opportunity Credit and the Lifetime Learning Credit are available to those responsible for education expenses, such as tuition, fees, textbooks, supplies, and equipment. Some incurred expenses, like insurance, transportation, and personal fees aren't eligible to be claimed for either tax credit.

Since it was enacted almost 40 years ago, the Earned Income Tax Credit has been boosting revenues of low and moderate income workers. The IRS reports that four of every five employees eligible for the EITC claim the benefit, however they'd like to see everyone who qualifies take advantage of it.

To get a little extra cash back this tax season, taxpayers should consider the benefits of claiming children or adult relatives as dependents. For each dependent a taxpayer claims that qualifies, they get a personal exemption, and depending on the age and relationship of the dependent, they may be eligible for additional tax credit which can reduce their tax liability and save them money. The tax credits a taxpayer may be permitted to claim for their dependents include the Child Tax Credit, Earned Income Credit, Child and Dependent Care Credit. A single filer who has a qualifying dependent can claim Head of Household status, which can also be valuable at tax time.

Those who receive Social Security income may be required to pay taxes on part of their benefits, though there are some who discover their benefits aren't subject to federal tax. If a taxpayer received Social Security, how can they tell if their benefits are taxable? The following facts can shed a little light on how someone's taxes relate to Social Security income.

W-2C and W-3C tax form printing software, ezW2Correction 2014, rolled out from halfpricesoft.com (halfpricesoft.com). The new edition of W2 Correction software includes forms level help links and buttons to easily support accountants and novice business owners with W2C and W3C form processing. Even if customers have never filed a W2C or W3C form, they can use this software quickly and inexpensively.

Workbox Software LLC, a New York City-based software development company, announced today that the latest version of its flagship iPad app, Workbox 3.0, now allows users to operate in multiple currencies, deal with value-added taxes, and invoice clients in one of nine major languages.

Traverse City Tax Preparation Examiner Frank Ellis has published an article revealing where taxpayers can find the 2014, 2015 W2 form online. One of the most important tax documents, the author and tax specialist reveals, it should be received by taxpayers from the companies they work for. The form typically comes in the mail before January 31.

A new article on Examiner.com, written by tax specialist Frank Ellis, reveals that e-filing is available with TurboTax Freedom Edition 2015. Thanks to the Free File Alliance Program offered by the IRS, mid- to low-income taxpayers can e-file and prepare their taxes with much less difficulty.

A child tax credit calculator is now available for the 2014, 2015 tax season, and is featured in a new article on Examiner.com. This convenient calculator can be used to reduce the amount of tax owed. It can in fact cut a taxpayer's owed amount by as much as $1,000 per child, according to the article. The article was written by Grand Rapids Tax Tips Examiner, Teresa Smith.

The date has been set by the IRS for filing taxes starting Jan 20. Frank Ellis provides tips for filing tax returns, claiming credits, and using electronic filing. He reveals the IRS changes the date each year but experts predict this year it may be towards the middle or end of January.

Easy sales tax collection from internet purchases used to be one of the agendas that many lawmakers are pursuing this year to help states recover billions of dollars lost in annual revenue. For the previous years, the US states have asked the Congress for a federal legislation to ease up collection of sales tax. Yet, when the House Judiciary Committee Chairman Robert W. Goodlatte drafted the Online Sales Simplification Act of 2015, which were distributed to lobbyist and congressional offices this month, the state lawmakers slam the attempt to pass the bill.

The recently-opened Bel Air tax preparation service, Picket Fence Tax, announces the release of their new video (youtu.be/USbkLIVi-Q0) for Harford County and surrounding areas.

"Accountants and tax professionals often have tax reporting needs that differ greatly from small businesses and nonprofits," said Halfpricesoft.com founder Dr. Ge. "Our latest 2014 generation of ezW2 was designed with these needs in mind, and represents our commitment to make easy tax reporting functions available to all small businesses and tax professionals."

When handling different business, it is important to be mindful of the different tax details and other accountancy related aspects. There are a lot of professionals who have been working in this field and they make it a point to offer you the right kind of services. Yet, it is important to be sure that one picks up the best in this field because the field of tax is not something which should be messed with.

Traverse City Tax Preparation Examiner Frank Ellis has published a new article explaining the details behind form 1040. Filling out tax forms can be just as stressful as paying taxes. Ellis provides instructions on how to fill out form 1040 correctly and carefully.

Frank Ellis, a Traverse City Tax Preparation Examiner, has introduced the 2015 tax refund calculator now available online via his Examiner.com profile. The online calculator, according to the author, is a help to taxpayers because it tells them whether they'll have to pay or get a refund from the IRS.

Not only can using the right filing status affect how much one may owe, but it can also affect which credits one may be eligible to receive. In fact, the filing status one chooses can even determine whether one would have to file a tax return at all.

The beginning of the year is a stressful time for many individuals as they collect various tax documents and support in anticipation of tax return preparation. When searching for help, Zinman & Company PC is proud to announce they are again offering personalized tax services to businesses and families in the greater Philadelphia area.

The new Form 1099s, 1098s prepare, print and efilie software, ez1099, rolled out from Halfpricesoft.com(http://www.halfpricesoft.com) for 2015 tax season. Business owners and Tax professionals can now effortlessly print and file tax form 1099 and forms 1098 & 1098 C, E & T, when utilizing the ez1099 software for 2013-2014 . With the updated version, customers can now print and file these forms without the typical headaches associated with tax preparation.

Printing 1099 S Form with the new ez1099 software from halfpricesoft.com is easy and inexpensive. Ez1099 software from halfpricesoft.com is the simple, fast and affordable 1099 tax forms preparing, printing and eFiling solution for businesses and accountants. ez1099 makes it easy to paper print, PDF print and file 1099s, 1098s tax forms electronically. The latest version for 2015 tax season also includes the form help buttons and help link to shorten the learning curve for the first time users.

Tax specialist and Examiner.com contributor Frank Ellis has published an informative article on how taxpayers can claim the earned income credit this year. People with a small or modest income can qualify.

In working towards their goal of assisting Americans with their tax returns, Best IRS Refund has teamed with TurboTax to bring their services to those looking to complete their 2014 tax returns online. As most already know, some documentation is needed before one can begin to complete their tax return.