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What's new on USTaxTips.net

Investment Return Calculator

The investment return calculator will provide you the % return and the annualized % return on an investment account, a portfolio, or a single investment.  It will now retain data for you on your computer so you don't have to re-enter everything the next time you use it.

2017 Federal Personal Income Tax Rates and Standard Deductions

Most tax bracket thresholds have increased by approximately 0.8%, as have most of the standard deductions.

2016 California Personal Income Tax Rates and Standard Deductions

The tax brackets have been increased 2.1% for inflation.  Tax rates have not changed.

2016 Federal Personal Income Tax Rates and Standard Deductions

Most tax bracket thresholds have increased by approximately 0.5%.  The only standard deduction that has increased is the one for head of household, which has increased by 0.54%.

Offshore Voluntary Compliance Program

New filing compliance procedures for non-resident U.S. taxpayers - this information was updated on the IRS website in July and August 2015.

2015 California Personal Income Tax Rates and Standard Deductions

The tax brackets have been increased 1.3% for inflation.  Tax rates have not changed.

2015 Federal Personal Income Tax Rates and Standard Deductions

Most tax bracket thresholds and standard deductions have increased by approximately 1.6%.

2014 Tax Return Filing

The IRS will accept 2014 tax returns both electronically and on paper starting January 20th 2015.  Free tax filing and tax help are available to certain individuals.

Individual Retirement Accounts

Top Four Year-End IRA Reminders from the IRS.

California 2014 Tax Brackets, Tax Rate Schedules and Standard Deductions

The California personal income tax brackets for 2014 were increased by 2.2%, which is the inflation factor for July 1, 2013 to June 30, 2014.

Taxpayer Rights

The Taxpayer Bill of Rights and the publication Your Rights as a Taxpayer are available from the IRS in six languages.

Offshore Voluntary Disclosure Program (OVDP)

Major changes were announced to this program on June 18th.  If you are eligible, best to make your disclosure as soon as possible.

BusinessUSA State Resources Portal

American business can find local resources, events and business assistance centers in their state.

US Armed Forces - Tax Information

The IRS provides specialized tax information for members of the armed forces.

Filing Your Federal Tax Return

Information on free tax filing, IRS resources including videos.

Modified First Time Abate (FTA) Policy

The FTA provides penalty relief in certain situations.

2014 Federal Personal Income Tax Rates

Most tax bracket thresholds and standard deductions have increased by approximately 1.6% to 1.7%.

2013 California Personal Income Tax Rates

The California personal income tax brackets for 2013 were increased by 1.7%, which is the inflation factor for July 1, 2012 to June 30, 2013.

2012 Federal Tax Forms

Most 2012 Federal personal income tax forms are now available.

2012 California Tax Forms

California personal income tax forms for 2012 are now available.

2013 Federal Personal Income Tax Rates

A new tax rate of 39.6% has been added for the 2013 tax year, for a new higher income tax bracket.  Other tax rates remain unchanged.  Tax bracket thresholds and most standard deductions have increased by approximately 2.6%.

California 2012 Personal Income Tax Rates

The California personal income tax brackets for 2012 were increased by 1.9%, which is the inflation factor for July 1, 2011 to June 30, 2012.  Several tax brackets were added for taxable incomes greater than $250,000.

US Citizens Outside the United States

The IRS has announced efforts to help US citizens residing outside the US, including dual citizens and those with foreign retirement plans, such as Registered Retirement Savings Plans in Canada.  The new procedure will go into effect on September 1, 2012.

Federal 2012 Personal Income Tax Rates

Most tax brackets have been increased by approximately 2.4% for 2012 due to inflation.  Standard deductions have increased by 2.6% except for heads of household, which increased by 2.35%.

First-Time Homebuyer Credit Repayment Tool

The IRS is no longer mailing reminder letters to taxpayers who have to repay the credit, but they now have an online lookup tool to check your repayment obligation.

California 2011 Personal Income Tax Rates

The California personal income tax brackets for 2011 were increased by 2.7%, which is the inflation factor for July 1, 2010 to June 30, 2011.  The tax rates have been reduced, with the highest rate being 9.3%, where for 2009 and 2010 the highest rate was 9.55%.

Innocent Spouse Relief

Innocent Spouse Relief is only available to someone who files a joint return.  However, spouses who did not file joint returns, but who live in community property states, may also qualify for relief.  On July 25, 2011, the IRS announced that it has eliminated the 2-year time limit for filing Innocent Spouse Relief requests.

IRS Open Houses to Assist Taxpayers

To help taxpayers with their tax returns, IRS holds open houses at many IRS offices on certain Saturdays.

2011 Federal Personal Income Tax Rates and Standard Deductions

Most tax brackets have been increased by approximately 1.5% for 2011 due to inflation, except for the tax brackets for estates and trusts, most of which increased by a smaller percentage.  Standard deductions have increased by 1.75% except for heads of household, which increased by 1.2%.  In 2010, the standard deduction was only increased for heads of household.  The 2011 increase brings the 2 year increase for heads of household standard deduction to 1.8%.

California Personal Income Tax

This page has links to California personal income tax rates, tax forms, and other information.

Filing Your Individual Income Tax Return

Your income tax return can be filed manually, or electronically.  You can file for free using the Free File program.

Federal Individual Income Tax Forms

Most forms are available already for the 2009 tax year.  We provide links to the schedules and forms which accompany each of the three tax return forms - 1040, 1040A, and 1040-EZ.  Glancing through the list of forms helps to provide information on what credits and deductions may be available to you.

First-Time Homebuyer Credit Extended

The deadline for the refundable First-Time Homebuyer Credit has been extended to principal residences purchased prior to May 1, 2010, with the contract closing prior to July 1, 2010.  The credit has also been extended to current homeowners who are long-time residents of the same home, and are now purchasing a new home.  The income limitations for claiming the credit have also been increased.

2010 Federal Personal Income Tax Rates

The 2010 Federal tax rates have been published.  Some tax bracket thresholds have had minor adjustments.  The standard deduction remains unchanged for all taxpayers except heads of household, for whom the deduction has been increased from $8,350 to $8,400.

First-Time Homebuyer Credit

Time is running out to qualify for the refundable First-Time Homebuyer Credit.  To qualify for the credit, the completed purchase must occur before December 1, 2009.

Federal Tax Refunds - Checks totalling millions of dollars have been returned to the IRS due to incorrect mailing addresses.  See how to check on your payments and refunds.

Federal personal income tax rates:

bulletRates for 2009, including estate and trust rates
bulletEstate and trust rates for 2008

Glossary items added - discount rate, federal funds rate.

Resources page added, with links to foreign exchange rates, interest rates, and many US government resources.

Save Money page added, with 11 articles to help you save money and build wealth.

Site first published September 17, 2008

 

Revised: February 04, 2017

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