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Tax Tips

This is your guide to help you finish this year's taxes. Action Line Editor Phil Mulkins offers tips and can answer your questions about getting through this year's tax returns.

Submit Action Line questions about taxes by calling 918-699-8888 or emailing phil.mulkins@TulsaWorld.com

HEADLINES
Action Line: Tips on how to avoid IRS tax liens

Action Line: Tips on how to avoid IRS tax liens   4/19/2013

Dear Action Line: I know the tax deadline has passed, but don't stop answering tax questions. What is the IRS 'Fresh Start Program' that avoids tax liens? - D.T., Tulsa.

Action Line: Act quickly if filing your income taxes late

Action Line: Act quickly if filing your income taxes late   4/18/2013

Dear Action Line: What is my best course of action if I have not filed my income taxes by the April 15 deadline? - V.L., Tulsa.

Offshore havens take away $150 billion in taxes yearly, report says

Offshore havens take away $150 billion in taxes yearly, report says   4/17/2013

Every year, corporations and wealthy individuals avoid paying $150 billion in taxes by using complicated accounting maneuvers to shift their profits to offshore tax havens, according to the Federation of Public Interest Research Groups (tulsaworld.com/USPIRG). Of the $150 billion, $90 billion is avoided by corporations - in 2012 costing the taxpayer an extra $1,026 in taxes to make up for revenue lost to offshore tax havens, says the federation, which is called U.S. PIRG.

Action Line: Paying off debt best way to use tax refund

Action Line: Paying off debt best way to use tax refund   4/16/2013

Dear Action Line: I got $2,900 back on my taxes and usually spend this on a trip or some new gizmo for the garage. My wife thinks we should put it on the credit card debt or in the bank. What do you think? - G.M., Tulsa

Action Line: Guard against theft of tax refund, identity

Action Line: Guard against theft of tax refund, identity   4/14/2013

Dear Action Line: I am still preparing my income tax return and heard a warning on a TV magazine shows that 'people should get their tax returns in early to avoid having their refunds stolen' by online crooks. What's up with this? - M.H., Tulsa

Action Line: IRS offers help getting last year's tax information

Action Line: IRS offers help getting last year's tax information   3/8/2013

Dear Action Line: How can I get last year's tax information from the IRS? - R.P., Tulsa

Action Line: Free tax-prep package helps taxpayers

Action Line: Free tax-prep package helps taxpayers   2/15/2013

Dear Action Line: Are there any free tax-prep products to help understand tax law changes brought by the American Taxpayer Relief Act for 2012 taxes? - M.T., Tulsa.

IRS refund website swamped by impatient taxpayers   2/15/2013

The Internal Revenue Service has a message for taxpayers eager to learn the status of their tax refund: Please don't check the IRS website every five minutes - once a day is enough.

Action Line: IRS regulation of tax preparers barred by court   2/9/2013

This tax season has an added twist after a federal judge voided the IRS' proficiency regulation of the nation's 600,000 tax return preparers.

Action Line: Filing income tax can be helpful even for those not required

Action Line: Filing income tax can be helpful even for those not required   2/8/2013

Dear Action Line: How do you know if you are supposed to file an income tax return? I work part time for temp employers and don't see filing if I don't have to. - C.K., Turley.

Business Viewpoint: Small business tax filing tips

Business Viewpoint: Small business tax filing tips   2/7/2013

Spring begins next month, but another season also is on the way: Tax season.

Action Line: Where to get help with tax filing

Action Line: Where to get help with tax filing   1/25/2013

Dear Action Line: Where can we go for free tax return preparation help? - N.T., Tulsa.

Action Line: IRS requires tax preparers to pass competency test

Action Line: IRS requires tax preparers to pass competency test   10/26/2012

Dear Action Line: I hear there is a competency test required by IRS for 'income tax return preparers' to show they know what they're doing. What is this test and how can you tell if they've had it and passed it? - S.P., Broken Arrow.

Tax benefits help offset college education costs

Tax benefits help offset college education costs   9/12/2012

College is an expensive way to spend seven years (or even just four) whether you're a high school grad in your first college semester or a college student close to graduation.

Action Line: Tax deduction rules govern donations to charities

Action Line: Tax deduction rules govern donations to charities   8/24/2012

Dear Action Line: What are the guidelines on donating clothing and other items to charities, as far as how much you can deduct? - S.P., Tulsa

Chuck Jaffe: After taxes, it's time to tame paperwork monster

Chuck Jaffe: After taxes, it's time to tame paperwork monster   4/18/2012

Finishing your taxes typically is more of a relief than a feel-good moment, but turning on your shredder can brighten your mood even more.

Action Line: Things to know about tax filing extensions

Action Line: Things to know about tax filing extensions   4/17/2012

Dear Action Line: There's no way I'm going to get my tax stuff to my tax accountant in time to have it filed on time. How do I get extra time to file? I think it's called an 'extension.' - W.N., Tulsa.

Tax filers can get postmark at airport   4/17/2012

If you have procrastinated on finishing your federal and state tax returns - and plan to use the U.S. Post Office to deliver them - beware that there have been changes in the local mail system.

Whether winning - or losing - tax obligations apply to gambling, even in Oklahoma

Whether winning - or losing - tax obligations apply to gambling, even in Oklahoma   4/16/2012

If you like to play the slots, that's gambling; but if you play the slots and don't pay attention to possible tax problems, that's gambling twice, says a local tax attorney who deals with an increasing number of clients whose problems with the IRS started in a casino.

Action Line: Owe IRS and can't pay? Here's what to do

Action Line: Owe IRS and can't pay? Here's what to do   4/15/2012

Dear Action Line: I owe federal income taxes after a failure to withhold enough to cover it but can't afford to pay it all when I file my return. What are my options? - S.K., Tulsa.

Action Line: Deadline for filing tax returns is Tuesday   4/14/2012

Taxpayers have an extra two days to file their returns this year because of the calendar and a holiday celebrated in the District of Columbia.

Action Line: 8 common tax-return errors filers can avoid

Action Line: 8 common tax-return errors filers can avoid   4/13/2012

Dear Action Line: I made a mistake on my tax return, and it will take longer to correct and process than it would have had I just taken the time to catch the error beforehand. I was in a hurry to get my refund. Others will make the same mistake. - C.M., Tulsa

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RELATED LINKS
Getting Started: Which tax documents do I take to a tax return preparer for doing my taxes?

IRS e-file: More than 77% of tax filers last year chose to file their tax returns using e-file electronic tax filing. Choosing e-file means choosing paperless, and more accurate, tax filing. Additionally, the IRS acknowledges receipt of an e-filed tax return within 48 hours of filing, and most tax filers due a refund will have their refund issued within 10 days.

IRS Free File: Free File is free, do-it-yourself, e-file. If your 2011 income was $57,000 or less, choose among IRS Free File’s 15 tax software providers to use their software to do your taxes for free -- or no matter your income, you can use Free File Fillable Forms.

1040 Central: Everything taxpayers need to know to file their federal income returns, gathered in one location.

Where’s my refund? Updated every Wednesday, you can check on the status of your federal income tax refund

Tax forms, instructions and publications: View on screen, or print out and use, any federal tax form, instructions or publication. The most popular are listed first, but all are available.

Which tax form should I file? Form 1040, 1040A or 1040EZ – if you still file your tax return using paper tax forms, this will help you determine which one is right for you.

Tax Guide 2011: Your Federal Income Tax for Individuals: The IRS’s 300-page, general tax information guide for individuals. A comprehensive, plain-language reference for those who want to know more about their taxes, including available tax deductions and tax credits.

Alternatively, the IRS will mail you a hard copy of this booklet at no cost by calling (800) TAX-FORM (800-829-3676).

Financial "What Ifs": The IRS recognizes that many people may be having difficult times financially. Here’s information for those affected by the economic downturn.

The Earned Income Tax Credit: The EITC can boost your refund by as much as $5,751 for 2011. Find out if you qualify.

Free tax help in your community: Hundreds of volunteers at more than 130 locations across Oklahoma can help you with your taxes at no cost to you. If your income for 2011 was $50,000 or less and you don’t have a complex tax situation, these volunteers can prepare, and in most cases e-file, both your State and federal income tax returns. Find your nearest location.

IRS Taxpayer Assistance Centers: There are four such centers in Oklahoma: Tulsa, Lawton, Oklahoma City and Enid. Find their locations and the services they offer.

IRS Telephone tax help: The IRS maintains a number of phone lines to assist taxpayers. Most are available 7 a.m. to 7 p.m.