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Tax Carnival #79: Filing season begins

The new tax law is in place. The IRS is working to get all forms and computer systems updated. And electronic filing began on Friday, Jan. 14.

1040_calculator To mark the official start of tax filing season 2011, today my fellow tax and personal finance bloggers present Tax Carnival #79: Filing season begins.

Since I know a lot of y'all have refunds coming and are anxious to get your returns filed, let's get right to it.

We start with a key question from Money Thinker, who wonders Do I really Have to File Taxes? If you're asking the same thing, the answer is posted at Money Thinking.

Because the Congress took so long to enact tax law changes last year, the IRS won't be able to get around to processing some returns for another month or so.

Madison DuPaix examines that situation in Will You Be Subject to the IRS Tax Filing Delay? It's posted at My Dollar Plan.

Speaking of delay, Sun looks at the changes to tax due dates in 2011 Tax Deadline, posted at The Sun's Financial Diary.

Steve presents some tips from the IRS to help Make Filing Your 2010 Tax Return As Easy As Possible, posted at 2010 Tax.

MoneyNing says if you're thinking of handing your taxes over to a CPA, this article is for you: Choosing a Tax Professional: What to Consider. It's posted at Money Ning.

Craig Ford suggests using free online tax services to file your taxes or to get a point of comparison to review the work of your tax accountant. He discusses his personal experience in Start Online Tax Filing Free with TurboTax, posted at Money Help For Christians.

1040-a-ez tax forms (2) A key part of filing is finding just which tax bracket your income falls into.

Pinyo presents 2010 Tax Tables, IRS Federal Income Tax Rates And Tax Brackets, posted at Moolanomy Personal Finance 

Trent Green presents The Difference Between Wages (or Salary) and Taxable Wages and Why it Matters, posted at Money for Regular People.

One factor in getting to your taxable income level is deductions.

Silicon Valley Blogger has a question many have raised at tax time: When Is A Business Expense A Tax Deduction? It's posted at The Digerati Life.

Steve presents 5 Tax Write-offs for Freelancers, posted at 2009 Taxes.

freefrombroke gets even more specific in Blogger Tax Deductions You Should Be Looking For Come Tax Time, posted at Free From Broke.

More numbers, this time related to retirement, come from Khaleef, who gives us IRA Contribution Limits for Both Roth and Traditional accounts, posted at Faithful With A Few

Steve Norman examines What Everyone Should Know About Tax Codes, posted at Tax Codes.

Flexo notes that many novice taxpayers are unaware that the Alternative Minimum Tax is a different method for calculating the federal taxes a taxpayer owes to the government. He details the tax in The Alternative Minimum Tax (AMT), posted at Consumerism Commentary.

Fairly or otherwise, the tax system favors the diligent over the unprepared, says Control your Cash, elaborating in Why the Self-Employed Are STILL Smarter Than You. It's posted at Control Your Cash.

Darwin presents Value of Tax Shield Explained – MBA Mondays, posted at Darwin's Money.

Form 1040 tax puzzle insert1 Businesses pay taxes, too.

Michael discusses a critical form which businesses that have employees must file in What is IRS Tax Form 941? It's posted at The Dough Roller.

Miranda presents Home Business Taxes: 5 Things You Should Know, posted at Personal Finance Corner.

Global bloggers weigh in on tax filing.

David de Souza of the U.K. tells us about One million more people to be affected by tax mistakes, posted at Tax Fix.  

Tom examines the Canadian tax intricacies in Tax Free Savings Account: What Should You Do With Your TFSA? It's posted at Canadian Finance Blog.

And since we're now in a new tax year, several Tax Carnivalistas offer info for business and individual tax planning in 2011.

Joe Morgan presents Tax Time: 4 Big Tax Changes for 2011, posted at Simple Debt-Free Finance.

Jeff Rose, CFP gives us a A Breakdown Of The 2011 Federal Tax Rates, posted at Good Financial Cents.

PT presents explores Traditional and Roth IRA Contribution Limits for 2011, posted at PT Money.

Kathy C notes that the new Social Security tax cut for 2011 will mean a net pay increase for millions of employees and tells us Social Security Tax Cut 2011: What Employers Need to Know. It's posted at The Thriving Small Business.

Finally, we close with an intriguing tax question.

FMF wants to know What Will You Be Doing with Your Extra Money? Details on his plans are at Free Money Finance.

And with that, we bring Tax Carnival #79, Filing season begins, to a close.

1040 icon_square Thanks for reading and a special thanks to all the contributors. We'll be back on Jan. 31 with another Tax Carnival and with a guest host. Jacob from My Personal Finance Journey has offered to give me breather so I can get my personal tax act together.

The process, however, remains the same. You can be a part of the upcoming Tax Carnival by submitting a tax post (and tax-only items please; check the guidelines for details) via the Blog Carnival page.

Share the Carnival! Want to tell your friends about this blog post? Click the Tweet This  or Digg This buttons below or use the Share This icon to spread the word via e-mail, Facebook and other popular applications. Thanks!

Comments

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Flexo

Kay,

Thanks for including my article!

Betty Kincaid

Kay,

Thanks for including us in your carnival. There's lots of great reading here.

Sun

Thanks for including my article in the carnival.

Craig

Thanks for hosting!

Jacob @ My Personal Finance Journey

I can't wait to host the next edition!

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