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ETS participation in ICEF Berlin
Recognised as the most important event for international educators, premium agents, work & travel professionals, as well as leading education industry service providers, the ICEF Berlin Workshop is the largest and most comprehensive agent networking event of its kind.
The 16th annual ICEF Berlin Workshop brought 1807 participants from 91 countries and 6 continents to Germany’s capital city, the most ever at an ICEF event. One of the participants in the section exhibitors was ETS Group. As one of the leading tax refund companies, ETS Group succeeded in making an excellent presentation of the company brand and services. We were also able to offer our services to many Work and Travel and Student recruiting companies, which were happy to discover how easy and effective is to cooperate with ETS.
The ICEF Berlin Workshop is the most efficient and cost-effective way to meet a large number of top international education professionals face-to-face and in one convenient location. But that was not the only reason we took part. The opportunity to meet so much people from different countries and continents was one at a time, so we definitely did not wanted to miss it.
We want to say a big thanks to all the people we met there during the meetings and social events and express our willingness to continue our contact with them.

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If you filed on time, you NC tax refund is coming

Everybody still waiting on a North Carolina income tax refund should see their money very soon if the return was filed on time.
The Department of Revenue says it has released all refunds for returns filed on or before April 15. Checks cut in recent weeks are a little higher because the agency had to add interest if filers weren't paid before the end of May. The interest has accrued to $1.2 million.
North Carolina delayed tax refunds for the second straight year as the state's cash flow stayed uncertain in the weak economy.
The department said in a news release this week the agency is still working on returns filed after April 15.

Average tax refund to fall by 13%

The average tax refund is expected to fall by 13 per cent to $2,344 this year, with nearly half of tax payers planning to use their wind fall to pay off debt, a new survey shows.

Bankwest's Taxing Time survey of 818 taxpayers also found that 42 per cent of taxpayers expect to receive a refund of less than $1000 this year, while five per cent expect to receive nothing.

One in 10 taxpayers is likely to end up owing money to the taxman this year.

The survey found that 46 per cent of respondents planned to use their refund to pay off debt, while 30 per cent would save it and 15 per cent would spend it on entertainment.

'People are being far more cautious with their returns than in previous years and using their refund to save or reduce debt,' Bankwest retail chief executive Vittoria Shortt (Vittoria Shortt) said.

She said the majority of people who will use their refund to reduce debt plan to put the money towards credit card bills, followed by paying off the mortgage.

'Gen X is most likely to use their refunds to pay down debt (55 per cent) while retirees are the least likely to use their tax return to pay back their dues (26 per cent),' Ms Shortt said.

But she said not everyone would be lucky enough to receive a refund, or even break even.

'Based on our research - which shows 11 per cent of workers were hit with a tax bill last financial year - it's safe to say more than one million Australians will again owe the tax office money come June 30.'

The survey also found that 59 per cent of respondents planned to use an accountant or tax agent for their returns, compared with 52 per cent last year.

Tax refund delay: 53,000 state income tax refunds delayed

If you filed your taxes and you are expecting a refund, you may have to wait if you live in Rhode Island. Your state refund may be delayed and there's not much you can do about it.
When will you get your Rhode Island state tax refund? The state expects that all refunds will be paid by the end of the fiscal year.
Bottom line, the cash flow in Rhode Island is just not flowing.
So, if you need that tax refund money to repair something in your home or pay some bills, you might want to practice a little patience.
Right now, $36.3 million in refunds owed to 53,000 Rhode Islanders, so get in line.
If you need an idea how far behind the state is running when it comes to getting you the cash you're owed, a batch of 18,577 refunds that were processed and ready to be issued on April 26 have not been distributed yet. There are also weekly batches from May that have been held.
The state has 90 days, by law, before it has to pay interest on the late refunds. However, several legislators just introduced a bill that would force the state to pay interest sooner than the law states on delayed refunds.

State to start sending tax refund checks this month, Lingle says

Improved tax collections will allow the state to start paying out tax refunds earlier than July 1, Gov. Linda Lingle announced today.
Taxpayers who filed returns in January and February can expect refunds later this month, she said.
Refunds for taxpayers with direct deposit are to begin May 21, those expecting refund checks can expect them by May 28.
Lingle previously had said the state would withhold refunds until after the start of the new fiscal year July 1 in order to save $275 million to balance the budget in the current fiscal year

Swan 'ticks the box' on tax return reform

The Federal Government expects 6.4 million Australians will save time and money on their tax returns by claiming a standard deduction for work-related expenses.
In a belated but widely anticipated response to one of the Henry tax review's recommendations in the 2010 budget, the Government will offer the option of a $500 standard deduction for workplace expenses in 2012-13, increasing to $1,000 the following year.
It estimates the average tax bill of the Australians who choose to take up the offer will drop by $192, while people with higher work-related deductions can choose to continue filling out an individual claim.
Treasurer Wayne Swan said the move would allow taxpayers to "throw away shoeboxes full of receipts" and simply "tick the box".
The budget estimates show the Government expects to be $608 million worse off in the first year the $1,000 deduction comes into effect.
"This means less time with the Tax Pack, more time with loved ones, and for 6.4 million Australians it also means a bigger tax refund," Mr Swan said in his budget speech.
Interest discount
The other main change to personal taxation is a 50 per cent tax discount on the first $1,000 of interest income earned from July 1, 2011.
The Government says around 5.7 million taxpayers will benefit from the measure in the first year of its implementation, particularly low and middle-income earners.
The discount will apply to interest earned on deposits, bonds, debentures and annuities and is forecast to cost $516 million in lost revenue in the first year after its introduction.
The Government has also responded to strong criticism of its First Home Saver Accounts, which have fallen well short of the take-up originally expected.
One of the main drawbacks of the scheme was that account holders had to save for at least four years before being able to access their funds to buy a house - if they bought within four years the balance of their accounts would be rolled into their superannuation.
Under the changes, account holders will still not be able to access their funds for at least four years but can then put them towards their mortgage if they buy a house in the interim rather than having them tied up in super.
Treasury is expecting this rule change will roughly double the take-up of the scheme, which only cost the Government $12 million this financial year but is expected to cost $23.6 million next year.

Five minute fix: check your tax code

The Inland Revenue has recently come in the firing line for sending out the wrong tax codes to employees. If you have changed jobs or had an extra payment this tax year you may be classed as having had a pay rise even if that was actually a one-off payment. You could therefore be paying way too much extra tax.
What does the code mean? The number that shows how much money you can earn before paying tax and the letter that shows your tax status. For example 647L means you are a straightforward basic rate taxpayer.
Where can I find it? It will be on your pay slip, PAYE Coding Notice, form P60 (year end) or form P45 - you get this when you leave a job.
Check the Inland Revenue’s website (www.hmrc.gov.uk/incometax/codes-basics.htm) to understand the different letters and numbers that make up your tax code.
What if I have lost my P45? Your employer will have to use an emergency code and if you have paid too much tax under the emergency code, you will get a refund. If you want to find out your tax code then contact your Tax Office and give them your National Insurance number and tax reference number.
What information do I need to supply to the Revenue? If you start to receive a second (or third or more) income or the amount of untaxed income you get increases or reduces.
Contact the Tax Office which deals with your tax affairs – you will find the number at the top of your tax form.
What about taxable perks? Some company ‘benefits’ or perks - such as medical insurance or a car – are taxable and are usually included in your tax code via PAYE. If you start receiving these perks it is better to tell the Tax Office straight away so that the extra tax can be collected monthly.
Otherwise the Revenue will only know at the end of the tax year when they are notified by your employer and you will end up with a big one-off tax bill.

IMF urges double tax hit on banks to refund taxpayers

Banks should be slapped with two unprecedented taxes in order to compensate taxpayers for the billions of pounds lost in the financial crisis, the International Monetary Fund has recommended.
In a report delivered to G20 nations on Tuesday, but yet to be published, the Fund has urged countries around the world to impose two new taxes on financial institutions: a "financial stability contribution" which levies a small charge on their balance sheets, and a "financial activities tax", which taxes excess profits, including bonuses.
The recommendations are likely to strike fear into a banking sector reeling from the US Securities and Exchange Commission's fraud charges against Goldman Sachs.
If imposed by G20 governments, the Fund's proposals are likely to have a significant impact on the profitability of all financial institutions.
The IMF report recommended that the proceeds of the taxes should go towards both a fund to be used to repair the economic damage wrought by this and future financial crises, and towards general government revenues.
However, it did not rule out calls from various charities to put some of the cash towards development and environmental projects.
In what may be construed as a blow to the Conservatives, who have pledged to push on with a banking tax unilaterally if necessary, the Fund said that the tax ought to be imposed by as many countries as possible. However, the recommendations are likely to be seized upon by all the major parties, making their imposition extremely likely, according to insiders.
The Fund's report rules out a financial transactions tax – something marketed by campaigners as a Robin Hood Tax – as impracticable, and likely to cause economic damage by distorting flows of capital around the world. Its recommendation of a levy on balance sheets is not a surprise, although the imposition of this tax across the entire financial system rather than just banks, is more unexpected.
Few within the banking sector had anticipated that the Fund would suggest a second tax on financial activity – as revealed by Telegraph.co.uk earlier this month. However, the Fund said that a Financial Activities Tax, which is levied on banks' cashflow, would be the least distortionary way of raising money from banks.

State tax refund check's (almost) in the mail

When will you get that state refund check? Officials say state income tax refunds should arrive earlier this year than last year, when many state taxpayers complained of long delays.
They aren't saying that some delays won't occur, but Bill Newton, acting director of finance, said that this year returns are being paid earlier. A major reason for this is because the Alabama Education Trust Fund, where tax refunds are stored, is a little more flush with cash this year.
That fund depends heavily on state income tax collections.
A major reason for last year's long delays in the state sending out refund checks came down to simple human nature: people who are owed money by the state want that money quickly, while people who owe the state money are not in as big a hurry to pay it.
"Most taxpayers that are due a refund file earlier than taxpayers that are liable for additional payments," Newton said in an e-mail response to questions from the Montgomery Advertiser.
That means the fund often experiences requests for refunds before it has received the payments from other taxpayers that it needs to pay them
While that can be a problem any year, surprisingly, it was exacerbated by last year's major downturn in the economy, leading to far more people filing early.
Because more taxpayers had capital losses, which can be written off on tax returns, in 2009, more were scheduled to receive refunds and more filed early.
While officials from the Alabama Department of Revenue, the department that handles tax returns, and the Alabama Department of Finance, which actually mails out the refund checks, say delays are still possible, they say the sort of months-long delays some taxpayers suffered last year are unlikely.
Before finance can even think about paying a tax refund, the Department of Revenue must process the return. That process can take time in itself. Once the return itself is processed, Revenue sends a list of taxpayers owed refunds to Finance, and Newton says that department tried to cut the checks as swiftly as possible.
Even if the state pays the refunds on time, according to the law, many taxpayers will feel the refunds have been delayed because the law gives the department plenty of time to pay the refunds.
"If the refund has not been paid by the state within 90 days after the due date, state law requires interest be paid by the state,"
That due date is April 15, not the date that the tax return is received. That means a return filed by Feb. 15 and due a refund could sit for five months before that refund is paid.
Those rules only apply if the return is filed by the deadline and has no errors. If the taxpayer is late in sending in the return, seeks an extension or makes mistakes on the return, the state is allowed more time to mail out the refund.

(It's that time again): 5 myths about paying taxes

No one likes to pay taxes, but as we get ready to stand in line at the post office on the 15th, it might be useful to dispel some of the most common myths about this springtime ritual.
1. The poorest and the richest Americans pay no taxes
About 45 percent of households will owe no federal income tax in 2010, according to our estimates. Half of them earn too little, while the other half - mostly middle- and lower-income households - will take advantage of tax credits such as the earned-income credit, the child and child-care credits, the American Opportunity and Lifetime Learning credits, which help pay for college, and the saver's credit, which subsidizes retirement saving.
But even citizens who pay no income tax still pay other kinds of taxes. They pay Social Security and Medicare taxes when they work, sales taxes when they buy things and property taxes on their homes. Drivers pay gasoline taxes, and smokers and drinkers pay excise taxes on tobacco and alcohol. According to our research, more than 75 percent of us will pay at least some form of federal tax in 2010.
Those who pay no federal taxes are mostly the low- income elderly or very poor families with children. Even about half of those with annual incomes under $10,000 pay some federal tax, most often payroll taxes on wages.
And, yes, the richest Americans pay taxes, too. Though a tiny minority manage to avoid federal income tax through elaborate tax planning, 99.7 percent of those with annual incomes above $1 million will pay federal taxes this year, surrendering 27 percent of their earnings to the government. The average American taxpayer pays 18 percent.
2. Americans are overtaxed

In 2007, federal, state and local taxes claimed about $3.8 trillion, or 27 percent of U.S. gross domestic product. That's nearly $13,000 for every American. Two-thirds of tax revenue went to the federal government.
It may sound like a lot, but other developed countries collect even more. In 2006, taxes in 30 of the world's richest countries averaged 36 percent of GDP; only Mexico, Turkey, South Korea and Japan had tax rates lower than ours. And taxes in many European countries exceeded 40 percent of GDP because these nations offer more extensive government services than the U.S. does.
Americans do pay far more in individual income taxes than residents of other wealthy nations. Nearly 37 percent of U.S. tax revenue came from personal income taxes in 2006, about 10 percentage points more, on average, than in other industrialized countries. But we pay much less in sales taxes: 17 percent of 2006 U.S. tax receipts were from taxes on goods and services, or about half of the 32 percent average for rich countries.
Bottom line: We may hate our taxes, but we pay far less than people in other wealthy countries.
3. Higher taxes could eliminate the federal deficit
Washington spends more than it takes in through tax revenue, resulting in a projected budget deficit of almost $1.35 trillion in 2010, or 9 percent of GDP, according to the Congressional Budget Office. Couldn't we get rid of the deficit by raising taxes?
No. A study we conducted at the Tax Policy Center found that Washington would have to raise taxes by almost 40 percent to reduce - not eliminate, just reduce - the deficit to 3 percent of our GDP, the 2015 goal the Obama administration set in its 2011 budget. That tax boost would mean the lowest income-tax rate would jump from 10 to nearly 14 percent and the top rate from 35 to 48 percent.
What if we raised taxes only on families with couples making more than $250,000 a year and on individuals making more than $200,000? The top two income-tax rates would have to more than double, with the top rate hitting almost 77 percent, to get the deficit down to 3 percent of GDP. Such dramatic tax increases are politically untenable and still wouldn't come close to eliminating the deficit.
4. Most people's tax returns are way too complicated
No one claims that USA tax system is simple. After all, the Internal Revenue Code runs more than 3 million words, and the instructions for the widely used 1040 form take up more than 100 pages. Small wonder that three out of five tax filers pay someone to prepare their returns and that one in five uses software.
But most Americans have relatively simple tax returns. Nearly two-thirds of us claim the standard deduction and don't have to itemize our deductible expenses. And 40 percent of us file one of the simpler tax forms: the 1040A or the 1040EZ. The 2009 EZ has just 13 lines. Relatively few of us get income from any source besides wages and salaries, interest, dividends and pensions.
So, why do taxes seem so complicated? Blame Congress. Legislators use the tax code not just to collect revenue but to encourage and reward specific activities. The 1986 Tax Reform Act greatly simplified the income tax by getting rid of many special provisions and cutting the number of tax brackets. Since then, Congress has expanded the earned-income and child-care credits, created the child, saver's and education credits, established health savings and Roth retirement accounts, imposed different tax rates on dividends, created a class of long-term capital gains with a lower tax rate and doubled the number of tax brackets.
Last year's stimulus bill added temporary tax cuts that benefit house and car buyers, workers, and families with children, but it also made tax returns longer and harder to complete.
5. You should aim for a big tax refund
It's wonderful to receive a big check in the mail. And having to write a check to the IRS is never fun. But you're better off owing the government a small amount on April 15 than receiving a huge refund. Here's why: Even though it seems like you pay your income taxes once a year, you actually pay them all year long as your employer withholds taxes from your paycheck. When you file your tax return, you are refunded the difference between the tax you owe and the cash your employer withheld.
Three-quarters of Americans allow their employers to withhold too much. Income-tax refunds averaged nearly $2,300 in 2008. In effect, we're giving the government an interest-free loan. You'd be better off stashing these withheld wages in an interest-bearing bank account and writing a check to the IRS on April 15.
It's not hard to cut the amount of money withheld from your paycheck. Just give your employer a W-4 form asking to withhold less each payday. Your human-resources office should have the form, and it's easy to fill out. But there is a catch: If you owe too much (and there are specific rules defining what "too much" is), you may have to pay a penalty - usually interest on the unpaid tax. And, if you're not careful, you may end up owing more in taxes than you saved.

State's ag employment jumped in 2009

Employment in Washington's agricultural industry grew last year, with nearly 12,300 more seasonal and permanent jobs added between January 2009 and January 2010, according to a state report released Tuesday.
Wages for seasonal workers also rose from an average of $8.79 per hour in January 2009 to $9.42 per hour in January 2010, according to a survey of 1,800 Washington agricultural growers. The state's minimum wage for 2010 is $8.55 per hour.
And mild weather in January boosted seasonal employment in the northcentral, southeast and southcentral regions of the state as workers were able to prune fruit trees, primarily apples. The number of seasonal ag jobs climbed by 7,110 from January 2009 to January 2010, an increase of 47.4 percent, the state Employment Security Department said.
"There's no such thing as a recession in the agriculture industry. People have to eat," said Bruce Grim, executive director of the Washington State Horticultural Association.
There were a total of 68,330 permanent and seasonal agricultural jobs in Washington in January, up from 56,030 in January 2009, according to the state. The highest number was in the southcentral area -- Yakima and Klickitat counties -- at 21,380 in January 2010.
The next highest was 17,710 in the northcentral area -- Chelan, Douglas, Okanogan and Kittitas counties -- followed by 11,680 in the southeast area of Benton, Franklin and Walla Walla counties. That was up by 1,960 from January 2009.
Seasonal jobs jumped from 15,010 statewide in January 2009 to 22,120 in January 2010, with 6,910 reported in the southcentral area in January 2010 and 5,720 in the southeast, according to the report.
"In the Tri-Cities, if things go well I'd expect by May or June we'll be up to 22,000 jobs," said Dean Schau, regional labor economist.
"I don't think people realize how huge an industry agriculture is in our state. We measure our foreign exports in billions of dollars and it's going all over the world," he said.
The report does not include jobs in food processing, which fall under manufacturing. There were another estimated 40,000 workers employed statewide in food processing, including 4,000 in the Tri-Cities alone, Schau said.
Grower Jeff Gordon of Gordon Brothers in Franklin County said he was able to keep the same seasonal work crew this spring that he's had the last several years "and that's gratifying."
Gordon added, "Agriculture has always been mislabeled as the minimum-wage payer of the American economy, and it's not true and never has been. We pay good wages for good people to do a good job."
Part of the growth in the state's seasonal labor force last year was huge apple and cherry crops, which required more workers. About 60,000 seasonal workers are needed at harvest alone to pick apples, cherries, berries, peaches, and other crops, according to the Washington Farm Bureau.
Growers largely were able to secure enough workers for harvest in 2009, according to the state Employment Security Department report. Part of the reason was the recession, which prompted some unemployed workers who had moved into the building trades or construction-related jobs to return to agriculture, Grim said.
He said, however, that he's concerned about the availability of seasonal labor seasonal this year if the economy improves and those same workers return to nonagricultural jobs, particularly if the apple and cherry crops again are large.
And current immigration policy at the federal level also could limit the number of workers, he said.
The American Farm Bureau Federation has filed a lawsuit seeking a temporary restraining order to prevent new H-2A regulations from going into effect that it fears would make federal rules more burdensome and restrict the number of available workers. The federal H-2A program allows agricultural employers to obtain visas for seasonal workers if there are not enough available resident workers.
"These new H-2A rules are onerous and not workable," Grim said. "My concern is it will reduce the number of workers when higher-paying jobs open up again in other areas of the economy."

Tax refunds up 10% due to stimulus

White House officials said Monday that tax credits launched under last year's economic recovery bill have boosted the average refund by nearly 10% from the previous year.

The average tax refund for 2009 has reached $3,036, up $266 from a year ago, according to early data from the Internal Revenue Service.
Administration officials said the increase is largely due to tax benefits available under the $787 billion American Recovery and Reinvestment Act. The extra cash is a boon for the middle class and provides an important stimulus for the economy, officials said.

"The Recovery Act is a major factor behind these larger, record refunds," said IRS Commissioner Doug Shulman. "About half of all Americans haven't filed their taxes yet, so we urge them to look carefully at these Recovery provisions."

Under the Recovery Act, which was implemented last year to combat the economic crisis, taxpayers can take advantage of over a dozen tax benefits.

Among the benefits are the making work pay credit, worth up to $800 for married couples filing jointly, the $8,000 first-time home buyer credit, and sales tax deductions on new car purchases.

In addition, the act includes credits for homeowners that make their homes more energy efficient. It also expanded eligibility for a $2,500 tax credit on college expenses and made the first $2,400 of unemployment benefits tax free.

Speaking at a news conference in Washington, Vice President Joe Biden said bigger refunds will help working families recover from one of the worst recessions on record and urged Americans to take full advantage of the credits.

"These Recovery Act tax credits not only provide some needed relief for working Americans, but also help them invest in their families' futures," Biden said.

Treasury Secretary Tim Geithner added that the nearly $300 billion in tax benefits will help the economy recover by encouraging Americans to spend, which will help business and ultimately stimulates job growth.

"The more that individuals and families take advantage of these benefits, the more money is pushed back into the economy, helping all Americans as we grow our way out of this crisis," Geithner said.

However, some critics argue that the bigger tax refunds could be due to factors other than the Recovery Act credits, including a larger number of Americans withholding more last year due to unemployment or other economic hardships.

Individuals who work into the year and get laid off typically over-withheld while they are working, said J.D. Foster, a senior fellow specializing in fiscal policy at the Heritage Foundation, a conservative research group. That over-withholding can lead to larger refunds.

"There are many reasons for refunds to be up and no reason at this point to believe the tax credits from the Recovery Act were a particularly important explanation," Foster said. To top of page

Time Is Running Out to Collect 2006 Refund

Here is a persistent myth about taxes: If you are getting a refund, there is no time limit on how long you have to file your federal income-tax return.
That may sound logical. After all, if you don't claim your refund on time, you're just hurting yourself.
But it's flat wrong. There are strict time limits -- and many people appear to be unaware of that.
The Internal Revenue Service announced recently that it's trying to deliver refunds totaling more than $1.3 billion to nearly 1.4 million people who still haven't bothered to file a federal income-tax return for the 2006 tax year.
To collect, these people typically must file their returns with the IRS no later than April 15 of this year, the IRS says.
"In cases where a return was not filed, the law provides most taxpayers with a three-year window of opportunity for claiming a refund," according to the IRS. "If no return is filed to claim the refund within three years, the money becomes property of the U.S. Treasury. For 2006 returns, the window closes on April 15, 2010."
The law requires that the return be "properly addressed, mailed and postmarked by that date," the IRS says. There's no penalty for filing a late return that qualifies for a refund.
Maybe some of those nonfilers didn't bother filing because the expected refund amount was tiny. But the median unclaimed refund amount for 2006 is $604, the IRS says.
The IRS offers another possible explanation: Maybe some didn't file because they didn't have enough income to require them to file for that year.
Whatever the case, make sure you're up to date on filing your returns not only for 2006 but also for 2007 and 2008. The IRS says taxpayers seeking a 2006 refund will discover that their checks will be held if they haven't filed for 2007 or 2008.
Also, the refund "will be applied to any amounts still owed to the IRS and may be used to satisfy unpaid child support or past-due federal debts such as student loans," the IRS says.
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IRS Has $1.3 Billion for People Who Have Not Filed a 2006 Tax Return

Unclaimed refunds totaling more than $1.3 billion are awaiting nearly 1.4 million people who did not file a federal income tax return for 2006, the Internal Revenue Service announced today. However, to collect the money, a return for 2006 must be filed with the IRS no later than Thursday, April 15, 2010.

The IRS estimates that the median unclaimed refund for tax-year 2006 is $604.

Some people may not have filed because they had too little income to require filing a tax return even though they had taxes withheld from their wages or made quarterly estimated payments. In cases where a return was not filed, the law provides most taxpayers with a three-year window of opportunity for claiming a refund. If no return is filed to claim the refund within three years, the money becomes property of the U.S. Treasury.

For 2006 returns, the window closes on April 15, 2010. The law requires that the return be properly addressed, mailed and postmarked by that date. There is no penalty for filing a late return qualifying for a refund.

The IRS reminds taxpayers seeking a 2006 refund that their checks will be held if they have not filed tax returns for 2007 or 2008. In addition, the refund will be applied to any amounts still owed to the IRS and may be used to satisfy unpaid child support or past due federal debts such as student loans.

By failing to file a return, people stand to lose more than refunds of taxes withheld or paid during 2006. For example, most telephone customers, including most cell-phone users, qualify for the one-time telephone excise tax refund. Available only on the 2006 return, this special payment applies to long-distance excise taxes paid on phone service billed from March 2003 through July 2006. The government offers a standard refund amount of $30 to $60, or taxpayers can base their refund request on the actual amount of tax paid. For details, see the Telephone Excise Tax Refund page on IRS.gov.

In addition, many low-and-moderate income workers may not have claimed the Earned Income Tax Credit (EITC). The EITC helps individuals and families whose incomes are below certain thresholds, which in 2006 were $38,348 for those with two or more children, $34,001 for people with one child and $14,120 for those with no children. For more information, visit the EITC Home Page.

Current and prior year tax forms and instructions are available on the Forms and Publications page of IRS.gov or by calling toll-free 1-800-TAX-FORM (1-800-829-3676). Taxpayers who are missing Forms W-2, 1098, 1099 or 5498 for 2006, 2007 or 2008 should request copies from their employer, bank or other payer. If these efforts are unsuccessful, taxpayers can get a free transcript showing information from these year-end documents by calling 1-800-829-1040, or by filing Form 4506-T, Request for Transcript of Tax Return, with the IRS.

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UK Government Pays Eastern Europeans to Go Home

UK government is searching for a way to limit unemployment under crisis.

British government will cover the costs for air tickets for homeless immigrants in order to make them go back home. Government measures are due to crisis and rising unemployment.

In regions where the percentage of unemployed is high authorities will buy air ticket for those Eastern Europeans who want to go home.

Many of them have no access to social benefits after losing their job.

One-third of the immigrants arrived on the Island under students visa. In order to reduce abuses, government will lower the issuing of this type of visa and will introduce stricter criteria. Only applicants with good English will be approved.

Students admitted in the country will have the right to work 10 hours weekly instead of 20 hours weekly, as it was until now.

2009 tax break may cost some taxpayers a refund

Expecting a fat tax refund this season? Not so fast.

Part of the economic stimulus law enacted a year ago created a new tax break, called the Making Work Pay tax credit. It reduced the amount of federal income tax withheld from workers’ paychecks.

But the new law had some unintended consequences. As a result, some taxpayers may receive a smaller refund during the current tax-filing season — or owe tax, said Jacquelyn H. Tracy, president of the Rhode Island Society of Certified Public Accountants.

Overall, about 15.4 million taxpayers nationwide — about 10.4 percent of the total — may be in this predicament, according to projections by the U.S. Treasury’s Inspector General for Tax Administration. In Rhode Island, that would work out to about 53,000 taxpayers.

It may come as a surprise especially to those taxpayers who count on receiving a federal income tax refund each year. They typically have more than enough in federal tax withheld each year “with the hope of getting something back,” said Tracy, partner in Mandel & Tracy, LLC, a CPA firm in Providence. “Many people use it as a savings plan,” she said.

At issue is economic stimulus legislation approved by Congress and signed into law by President Obama in February 2009. The law reduced the amount of federal income tax withheld from most workers’ paychecks throughout much of 2009. The idea was to boost the amount of workers’ take-home pay, so they could buy more goods and services and help boost the economy.

For many taxpayers, the reduction in withholding for 2009 should equal $400 for someone who is single, $800 for a married couple filing a joint return, said Robert J. Sclama, former head of the Rhode Island Society of Certified Public Accountants’ federal and state tax committee.

Those who had the correct amount withheld last year should see no problems on their returns now as a result of the new law, said Sclama, who runs his own tax-consulting and financial-planning practice in North Providence.

But some people, through no fault of their own, may have had too little in tax withheld from their pay last year. As a consequence, they may now wind up with a smaller refund than expected — or a balance due. That includes taxpayers in the following categories, according to recent reports by the U.S. Treasury and the Congressional Research Service:

•A single taxpayer who worked more than one job last year.

•A married couple, filing a joint return, where both spouses worked — and either or both worked more than one job.

•Taxpayers who receive pensions.

13 tax changes you need to know before filing your 2009 returns

If it seems like tax laws are changing every time you time around, it's not your imagination. Over the past eight years, changes to the Tax Code have been made at a rate of more than one a day. According to the office of the National Taxpayer Advocate, there were 500 changes in 2008 alone, many of them related to the 2009 tax year.

Trying to make sense of it all can be overwhelming. To help you out, here's a rundown of 13 changes that may impact your 2009 taxes:

1. Making Work Pay Credit. In order to put a little more cash in consumers' pockets last year, the government reduced the amount it withheld from workers' paychecks. Most W-2 earners have already felt the effect of the Making Work Pay Credit, which totals 6.2% of earned income. The credit, which cannot exceed $400 ($800 if married filing jointly), should have been paid out as reduced federal withholding over the year. If you're self-employed and haven't already adjusted for the credit, you calculate the credit on your 2009 federal income tax form. The unemployed and pensioners don't qualify for the credit, unless they receive earned income. You also don't qualify for the credit if your modified adjusted gross income (AGI) is $95,000 or more ($190,000 if married filing jointly), you are a nonresident alien, or you can be claimed as a dependent on someone else's return.
2. Economic Recovery Credit. Retirees and/or disabled persons were eligible to receive a one-time payment of $250 during 2009; eligible government retirees (generally, those receiving a government pension or annuity) qualify for a similar payment. Any amounts received as part of the Making Work Pay Credit should be reduced by any economic recovery payments or credit for government retirees. For example, if you're working and receiving Social Security, your Making Work Pay Credit would only be $150: $400 less the $250 economic recovery payment.
3. Unemployment Compensation Partially Exempt. The current unemployment rate has more than doubled since the recession began in December 2007. To offer some relief, taxpayers who received unemployment compensation for 2009 may exempt up to $2,400 of that compensation for federal income tax purposes. Amounts over $2,400 are still taxable.
4. COBRA Subsidy Not Taxable. Plenty of unemployed workers found themselves facing some seriously steep COBRA health care coverage premiums last year. To help them afford the health care coverage, the government offered to subsidize 65% of their payments. Luckily for those who needed to take advantage of that perk, the subsidy is not taxable for federal income tax purposes.
5. AMT Relief. There is yet another one-year "patch" to shield middle class taxpayers from the AMT (Alternative Minimum Tax). The AMT, which disallows tax preference items such as deductions for medical expenses and state and local property taxes, was initially targeted toward high-income taxpayers but has increasingly affected middle class taxpayers because of relatively low exemptions. For 2009, the exemption amount is bumped up a few hundred dollars to $70,950 for married couples and $46,700 for individual taxpayers.
6. Child Tax Credit Income Limit Lowered. As the cost of raising children has increased, families are looking for ways to cut costs. The child tax credit, which is in addition to the personal exemption for children, has allowed many families to put more money back in their pockets, since it is a dollar for dollar reduction in the amount of tax due. If you don't owe any tax, you may still qualify for a refund if you meet other criteria. For 2009, the income threshold for the child tax credit has been temporarily lowered to $3,000 (the income threshold for 2008 was $8,500). This means that, so as long as you have one or more qualifying children and earned income of more than $3,000, you may be entitled to a refund.
7. Increase in Earned Income Tax Credit (EITC). The EITC is a refundable credit aimed at providing relief from payroll taxes for low wage earners. For 2009, the EITC has increased for people with three or more children and for many married couples filing jointly. The maximum amount of income you can earn and still qualify for the credit has also increased.
8. "Kiddie Tax" Tweaked. The so-called "kiddie tax" is the tax that applies to investment income reportable by children. Generally, if a child is under the age of 18, or under the age of 23 and a full-time student, the parents have the option to report the income on their own return or on the child's return (at the child's tax rate) so long as the income is under a certain amount. For 2009, the amount of taxable investment income a child can have without it being subject to tax at the parent's rate has increased to $1,900.
9. American Opportunity Tax Credit.The Hope Scholarship tax credit has been temporarily expanded and now applies to the first four years of college; the increased credit is now referred to as the American Opportunity Tax Credit. The credit provides 100% credit for the first $2,000 and 25% for the next $2,000 on qualified expenses such as tuition and books; it's also 40% refundable, meaning even taxpayers who have no tax liability can receive up to $1,000.

10. Personal Casualty and Theft Loss Floors Increased. The "floor" for personal casualty or theft loss has been increased. Under the old rules, a taxpayer could only deduct personal casualty and theft losses if the yearly total of those losses exceeded 10% of his or her AGI after subtracting a $100 floor per event. The floor for each casualty and theft loss for 2009 has increased from $100 to $500. Additionally, for 2009, the 10% of AGI limit for losses in federal disaster areas has been eliminated; you can find a list of federal disaster declarations for 2009, including those for Hurricane Ike and Hurricane Gustav, on FEMA's Web site.
11. Sales Tax Deductions for New Car Buyers. Taxpayers can deduct state and local sales taxes paid on the purchase of a new car, light vehicle, recreational vehicle, or motorcycle on their federal income tax; leased vehicles do not qualify. In states without a sales tax, certain other taxes or fees may be deductible. There's a $49,500 limit on the cost of the vehicle and income restrictions apply (upper limits of $125,000 for individual taxpayers and $250,000 for married taxpayers). The deduction is available for qualifying purchases made after February 16, 2009, through the end of the year: best of all, you don't have to itemize to take advantage of the deduction.
12. Temporary Credit for Home Buyers. The temporary, refundable first-time home buyer credit has been increased to $8,000 for sales of homes made after December 31, 2008, and before May 1, 2010. The requirement that the credit be paid back over 15 years has been removed; however, if you sell the home within three years (some exceptions for hardship and divorce apply), the credit must be paid back. Income limits apply. A reduced credit up to $6,500 is available for homeowners who have lived in their homes at least 5 consecutive years out of the 8 years before buying and moving into a new principal residence; this new credit is for homes purchased after November 6, 2009.
13. Expansion of Residential Energy Credits. The residential energy property tax credit has been increased from 10% to 30%, with a cap of $1,500, total, for 2009 and 2010. Qualifying modifications include energy efficient insulation, exterior windows (including skylights) and doors, central air conditioners and some water heaters or furnaces.

If you're not sure whether any of these changes apply to you, ask your tax professional. And keep checking for more tax information and tips throughout the tax season!

Tax refund deadline cut this year under new law

A new state chief information officer is included in 2010 laws.
OKLAHOMA CITY — About a dozen new laws are taking effect Friday, including an effort to speed tax refunds and the creation of a chief information officer for the state.
Senate Bill 11 reduces the amount of time that the Oklahoma Tax Commission has to remit tax refunds. For electronic returns, a refund must be made in 20 days rather than 30 days, said Rep. Randy Terrill, D-Moore, who sponsored the bill in the House.
For paper returns, the agency must provide a refund within 90 days instead of 150 days, Terrill said.
If the Tax Commission misses the deadline, it must pay interest of 1.25 percent a month, according to the agency.
Terrill said the agency has indicated it would not have a problem complying with the measure.
Most taxpayers are not interested in making an involuntary loan to the government without some interest being attached, Terrill said.
"We wanted to ensure there was an incentive for the Oklahoma Tax Commission to process a timely filed return and return the money in a similarly timely fashion," he said.
Efforts to install a chief information officer are under way.