The Dependent care Flexible Spending Account (Dependent care FSA) can be opened to pay for expenses to care for your dependents that live with you while you are at work. This can be used for the kids who are under the age of 13 and can also be used for children of any age who [...]
The Medical Flexible spending account is the most popular type of FSA is used to pay for medical expenses not paid by any insurance; the most common expenses would be co-payments at doctors and hospitals, prescription drug costs, insurance deductibles and coinsurance. Starting January 1, 2011 participants of Medical FSA will not be able to [...]
Saver’s Credit
You can get an income tax credit of up to $1000 for a single tax payer or up to $2000 if married filing a joint tax return by contributing to a qualified retitement plan ( 401(k), 403(b) etc.).
Eligibility Criteria
In order to be eligible for the saver’s credit the following conditions must be satisfied.
An individual [...]
IRS has released the following information on 01/10/2008 for free tax filing for the tax year 2008.
The Internal Revenue Service and its private-sector partners today announced the Jan. 11 opening of this year’s Free File program. The free tax preparation and electronic filing initiative begins its sixth year with high customer satisfaction ratings.
Most Taxpayers Eligible
Seven [...]