Tax Time: Find Out What the 2013 Tax Rates and Standard Deductions Mean for You

Standard deductions go up, but the ceiling for itemized deductions go down in 2013, plus other changes that will affect your taxes this year.

The Internal Revenue Service announced annual inflation adjustments for tax year 2013, including the tax rate schedules, and other tax changes from the recently passed American Taxpayer Relief Act of 2012.  The tax items for 2013 of greatest interest to most taxpayers include the following changes. Details on these inflation adjustments and others are contained in Revenue Procedure 2013-15, which will be published in Internal Revenue Bulletin 2013-5 on Jan.28, 2013. Other inflation adjusted items were published in October 2012 in Revenue Procedure 2012-41. -News release from the Internal Revenue Service _____________________ Plum-Oakmont Patch is on Facebook and on Twitter. Don't forget to sign up for our daily email newsletter by …

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IRS Plans Jan. 30 Tax Season Opening For 1040 Filers

See how these changes will impact when you file taxes this year in the wake of law changes by Congress.

Following the January tax law changes made by Congress under the American Taxpayer Relief Act, the Internal Revenue Service announced it plans to open the 2013 filing season and begin processing individual income tax returns on Jan. 30. The IRS will begin accepting tax returns on that date after updating forms and completing programming and testing of its processing systems. This will reflect the bulk of the late tax law changes enacted Jan. 2. The announcement means that the vast majority of tax filers—more than 120 million households—should be able to start filing tax returns starting Jan 30. The IRS estimates that remaining households will be able to start filing in late February or into March because of the need for more extensive form…

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Oakmont Man Pleads Guilty to Tax Evasion

Louis Lamanna, 46, of Oakmont has pleaded guilty to three counts of willful failure to pay income taxes on Monday.

A builder from Oakmont has pleaded guilty to tax evasion charges after being accused of borrowing money to pay taxes and using it on "luxury cars," according to the Pittsburgh Post-Gazette. On Monday, Louis Lamanna, 46, pleaded guilty to three counts of willful failure to pay income taxes. According to the Post-Gazette, Lamanna owed the Internal Revenue Service more than $600,000 in back taxes. He told agents he took out a loan to pay the debt, and then spent the money on "luxury" items. Lamanna could face more than two years in prison, have to pay the money he owes, as well as a $300,000 fine. In December, Lamanna was indicted by a grand jury on in Pittsburgh on charges of evasion of tax payment bankruptcy fraud, and money laundering. He …

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FDA Raids ATF Fitness Products in Oakmont

The FDA and IRS raided the Oakmont business on Wednesday.

Last-Minute Tax Filers, Avoid Common Errors

Today, April 17, is the deadline to file federal income taxes.

The Internal Revenue Service is reminding taxpayers to review their tax returns for common errors that could delay the processing of their returns. Today, April 17, is the deadline to file your federal income taxes. Here are some ways to avoid common mistakes: File electronically. Filing electronically, whether through e-file or IRS Free File, vastly reduces tax return errors, as the tax software does the calculations, flags common errors and prompts taxpayers for missing information. And best of all, there is a free option for everyone. Mail a paper return to the right address. Paper filers should check the appropriate address where to file in IRS.gov or their form instructions to avoid processing delays. Take a close look at the tax …

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Last Chance: Deadline for 2011 Federal Income Tax Returns is Tuesday

File your 2011 federal income tax return by Tuesday, April 17, to avoid late penalties and interest.

You still have today and tomorrow left to meet the filing deadline for your 2011 federal income tax returns. The tax deadline is traditionally April 15, but has been pushed back to April 17 this year since April 15 was a Sunday and today, April 16, is Emancipation Day in the District of Columbia. April 17 is also the final date to apply for 2011 tax extensions. The Internal Revenue Service encourages taxpayers to file returns electronically. According to a statement posted on the IRS website, e-file is "the best way to ensure accurate tax returns and get faster refunds." There are also several ways to file your taxes easily online. Some include: For tax law questions or account inquiries, taxpayers can call the IRS toll free at the numbers…

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IRS: Tax Deadline Extended to April 17

The IRS also announced a number of improvements to help make this tax season easy.

The Internal Revenue Service Wednesday opened the 2012 tax filing season by announcing that taxpayers have until April 17 to file their tax returns. The IRS encourages taxpayers to e-file as it is the best way to ensure accurate tax returns and get faster refunds. The IRS also announced a number of improvements to help make this tax season easy for taxpayers. This includes new navigation features and helpful information on IRS.gov and a new pilot to allow taxpayers to use interactive video to get help with tax issues. “At the IRS, we’re working hard to make the process of filing your taxes as quick and easy as possible,” said IRS Commissioner Doug Shulman in a release. “Providing quality service is one of our top priorities. It not only …

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