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Haiti Donations in Early 2010 OK For Claiming On 2009 Returns

Posted by Administrator on Feb-1-2010

The IRS announced a new tax relief for people who contributed to providing earthquake relief in Haiti. It allows contributors to get the tax advantage of the donation for their 2009 claim rather than waiting a year for the benefit.

According to the website, only cash contributions made after January 11, 2010 and before March 1, 2010 will qualify. All cash donations made after March 1, 2010 will only be eligible to be claimed for the 2010 tax year.

To gain the benefit, you must itemize your tax deductions using Schedule A. For more information, please visit the IRS website at

Archive for March, 2008


How Was The IRS Formed?

Posted by Administrator

16th-amend.jpgBelieve it or not, the roots of the IRS go all the way back to the years of the Civil War. In the year 1862 President Lincoln and The United States Congress created a new government position.

It was called “Commissioner or Internal Revenue”. The position was created in mainly in order establish and enforce an income tax to fund the war itself.

A decade down the road, this income tax was repealed. Although Congress re-established the income tax in the 1890’s, the Supreme Court quickly declared it unconstitutional.

However, the 16th amendment, which was ratified in 1913, gave Congress the power to create and enforce an income tax once again. This is the year in which the first 1040 was printed.

For anyone who made between $3,000 and $500,000 . . . the applied tax rate was 1%. Anybody who made more than $500,000 was taxed about 7%.

(A copy of the 16th amendment can be seen to the right.)


A Little About The IRS

Posted by Administrator

irs2.jpg The Internal Revenue Service or IRS as it is more commonly known is a branch of the United States Department of Treasury. They are ironically one of the most efficient tax agencies in the world. In 2004 alone, the IRS collected over $2 trillion in revenue. Over an astonishing 224 million tax returns were received and processed in the same year.


The Internal Revenue Service wants to help Americans understand and fulfill their duties as tax payers. While the IRS helps us to comply with tax laws, we can actually look to congress to create them. The IRS just helps us complete with these important laws and tries to establish equality in justice among tax payers.


Tax Rebate

Posted by Administrator

For those who haven’t already heard, this year there will be a nice tax rebate. In order to receive it, you must file a 2007 federal tax return.

People who earned over $3000 this year are eligible to receive up to $600 back. Married couples can receive up to $1200, and parents will receive an additional $300 for every child under 17 years of age.

People who are exempt from filing taxes must do so anyways in order to receive the tax rebate this year. To be qualified, you must also have a social security number.

Make sure to accurately file this year. There’s no point in not taking free money!