60 http://www.prwebpodcast.com A Top 30 Stream of CompleteTax Press Releases (in MP3 format) via PRWeb podEditor@emediawire.com (PRWeb) podMaster@emediawire.com Wed, 07 Jan 2009 06:17:33 -0800 CompleteTax http://www.prweb.com/prwebrss.gif 130 49 http://prwebpodcast.com Copyright PRWeb International, Inc. en-us http://blogs.law.harvard.edu/tech/rss A Top 30 Stream of CompleteTax Press Releases (in MP3 format) via PRWeb A Top 30 Stream of CompleteTax Press Releases (in MP3 format) via PRWeb podEditor@emediawire.com PR Web PRWeb no http://www.prweb.com/releases/CCH/Tax_Refunds/prweb756354.htm http://www.prweb.com/releases/CCH/Tax_Refunds/prweb756354.htm For 2007 tax returns, focus on speed; for 2008, focus on minimizing overpayment. [PRWeb Mar 12, 2008] http://www.prweb.com/releases/CCH/Tax_Refunds/prweb756354.htm Tue, 11 Mar 2008 09:09:13 -0700 podcrew@extrahoop.com CCH CompleteTax, the online tax preparation and electronic filing solution for the do-it-yourself taxpayer from CCH, a Wolters Kluwer business. CCH is a leading provider of tax, accounting and audit information, software and services. "As taxpayers are working through their 2007 tax returns now, there are several steps they can take to reduce, even cut in half, the time it takes to receive any tax refund they are owed," said David Bergstein, CPA, a tax analyst for CCH CompleteTax (www.CompleteTax.com). Among steps Bergstein suggests to speed tax refunds are: - Make sure the tax return is complete and the math adds up. Among the quickest ways taxpayers can slow their refund is to leave out information or make a math error. Be certain to include all Social Security numbers needed (the taxpayer's, spouse's, children's, etc.), double-check all math and report all 1099 income as the IRS will have copies of this information as well and require more information from the taxpayer before issuing any refund owed. Also, make sure the tax return is signed - either manually (if mailing) or with an electronic PIN (if e-filing). - Use tax software to prepare tax returns. Even individuals that are fairly comfortable with numbers and don't have particularly complicated tax situations will likely save a significant amount of time by using a software program rather than working through their taxes manually. The more complicated, the more time will be saved. And, tax software guards against filing an incomplete return because it checks for missing information and handles most math computations for the taxpayer. "A lot of people procrastinate because they just dread the thought of sitting down and staring at those tax forms and the nearly 100-page instruction manual to try to figure out where to start, let alone finish," said Bergstein. "Tax software that uses a straightforward interview format leads taxpayers through the process step-by-step, asking only information that's relevant to their situation." - File electronically. When a paper return is mailed, not only does it take time to reach the IRS, it then needs to be manually accepted, processed and uploaded into the IRS systems, adding even more time. E-filing a tax return cuts out these extra steps so that the IRS can more quickly get to the point of issuing the refund. According to IRS data, taxpayers seem to be catching on to the benefits of e-filing, with more than 38 million tax returns electronically filed so far this tax year compared to 36 million this time last year and the greatest growth in e-filing is coming from individuals using home computers. - Use direct deposit. More taxpayers also appear to be catching on to... To read the press release in full goto http://www.prweb.com/releases/CCH/Tax_Refunds/prweb756354.htm]]> Mary Jung CCH CompleteTax Outlines Five Steps for Taxpayers to Speed Refunds for this Year and Next CCH CompleteTax, the online tax preparation and electronic filing solution for the do-it-yourself taxpayer from CCH, a Wolters Kluwer business. CCH is a leading provider of tax, accounting and audit information, software and services. "As taxpayers are working through their 2007 tax returns now, there are several steps they can take to reduce, even cut in half, the time it takes to receive any tax refund they are owed," said David Bergstein, CPA, a tax analyst for CCH CompleteTax (www.CompleteTax.com). Among steps Bergstein suggests to speed tax refunds are: - Make sure the tax return is complete and the math adds up. Among the quickest ways taxpayers can slow their refund is to leave out information or make a math error. Be certain to include all Social Security numbers needed (the taxpayer's, spouse's, children's, etc.), double-check all math and report all 1099 income as the IRS will have copies of this information as well and require more information from the taxpayer before issuing any refund owed. Also, make sure the tax return is signed - either manually (if mailing) or with an electronic PIN (if e-filing). - Use tax software to prepare tax returns. Even individuals that are fairly comfortable with numbers and don't have particularly complicated tax situations will likely save a significant amount of time by using a software program rather than working through their taxes manually. The more complicated, the more time will be saved. And, tax software guards against filing an incomplete return because it checks for missing information and handles most math computations for the taxpayer. "A lot of people procrastinate because they just dread the thought of sitting down and staring at those tax forms and the nearly 100-page instruction manual to try to figure out where to start, let alone finish," said Bergstein. "Tax software that uses a straightforward interview format leads taxpayers through the process step-by-step, asking only information that's relevant to their situation." - File electronically. When a paper return is mailed, not only does it take time to reach the IRS, it then needs to be manually accepted, processed and uploaded into the IRS systems, adding even more time. E-filing a tax return cuts out these extra steps so that the IRS can more quickly get to the point of issuing the refund. According to IRS data, taxpayers seem to be catching on to the benefits of e-filing, with more than 38 million tax returns electronically filed so far this tax year compared to 36 million this time last year and the greatest growth in e-filing is coming from individuals using home computers. - Use direct deposit. More taxpayers also appear to be catching on to... To read the press release in full goto http://www.prweb.com/releases/CCH/Tax_Refunds/prweb756354.htm]]> 00:15:00 no http://www.prweb.com/releases/CCH-Complete-Tax/tax-preparation/prweb697443.htm http://www.prweb.com/releases/CCH-Complete-Tax/tax-preparation/prweb697443.htm Holding on to false beliefs can mean paying more, and doing more work at tax time [PRWeb Feb 21, 2008] http://www.prweb.com/releases/CCH-Complete-Tax/tax-preparation/prweb697443.htm Tue, 19 Feb 2008 17:09:27 -0800 podcrew@extrahoop.com CCH CompleteTax undertook a nationwide survey to see just how deep some of these myths run, and the findings indicate many tax myths are well ingrained. "When you are dealing with something as complicated as income tax law, it's not uncommon for misconceptions to arise. People are rightfully confused, they're trying to simplify matters and it ends up leading to all types of potential errors. That's why it's a good idea to rely on tax software or a professional tax preparer to make sure your income tax return is done correctly," said David Bergstein, CPA, a tax analyst for CCH CompleteTax. CCH CompleteTax (www.CompleteTax.com) is an online tax preparation and e-filing solution for the do-it-yourself taxpayer. The CCH CompleteTax survey, conducted by Harris Interactive, asked more than 2,000 adults to answer questions related to six common tax myths, and CCH then set out to debunk the myths: * Myth #1: A home seller can take a capital loss write off for a home that sells at a loss. Only 8 percent of respondents to the CCH CompleteTax survey answered correctly that a homeowner cannot write off a loss if they sell their home for less than they'd paid for it. Three in 10 respondents believed incorrectly that a write off could be taken for a loss and most - 62 percent - don't know which answer to believe. Given the slumping housing market, many home sellers may wish they could take a capital loss on their home, but it's not allowed. "Under tax law, your home is considered personal property, and you can't take a deduction for personal property that you sell at a loss, whether it's your car, a computer, your house or any other personal property," said Bergstein. "This is particularly hard for some taxpayers to swallow because if they sell their home for a gain, they may have to pay capital gains taxes." * Myth #2: Sales tax and state income tax are not deductible. How much myth and how much fact this is depends on which year you're speaking about…and could change, again, before 2008 ends. The tax code related to deducting sales tax or state income tax has caused a lot of confusion through the years. It used to be that individuals could deduct sales tax if they itemized. Then that option was removed. Starting in 2004 and renewed for 2006 and 2007, the option became that they could choose to deduct either their sales taxes or state income tax, but not both. For 2008, the law reverts to just being able to deduct state and local income tax, not sales tax, unless legislators extend the provision sometime this year. As for what people believe, just 9 percent of individuals answered that either sales tax or state income tax, but not both, can be deducted from their federal tax return, which is the correct answer when filling out 2007 tax returns. Fifteen percent answered state income tax only can be deducted, which - at least for now - is the correct answer for 2008. But nearly one-third, 30 percent, responded incorrectly, regardless of tax year, believing you can deduct both sales tax and state... To read the press release in full goto http://www.prweb.com/releases/CCH-Complete-Tax/tax-preparation/prweb697443.htm]]> Leslie Bonacum Many Tax Myths Still Have a Hold on Taxpayers, CCH CompleteTax Survey Finds CCH CompleteTax undertook a nationwide survey to see just how deep some of these myths run, and the findings indicate many tax myths are well ingrained. "When you are dealing with something as complicated as income tax law, it's not uncommon for misconceptions to arise. People are rightfully confused, they're trying to simplify matters and it ends up leading to all types of potential errors. That's why it's a good idea to rely on tax software or a professional tax preparer to make sure your income tax return is done correctly," said David Bergstein, CPA, a tax analyst for CCH CompleteTax. CCH CompleteTax (www.CompleteTax.com) is an online tax preparation and e-filing solution for the do-it-yourself taxpayer. The CCH CompleteTax survey, conducted by Harris Interactive, asked more than 2,000 adults to answer questions related to six common tax myths, and CCH then set out to debunk the myths: * Myth #1: A home seller can take a capital loss write off for a home that sells at a loss. Only 8 percent of respondents to the CCH CompleteTax survey answered correctly that a homeowner cannot write off a loss if they sell their home for less than they'd paid for it. Three in 10 respondents believed incorrectly that a write off could be taken for a loss and most - 62 percent - don't know which answer to believe. Given the slumping housing market, many home sellers may wish they could take a capital loss on their home, but it's not allowed. "Under tax law, your home is considered personal property, and you can't take a deduction for personal property that you sell at a loss, whether it's your car, a computer, your house or any other personal property," said Bergstein. "This is particularly hard for some taxpayers to swallow because if they sell their home for a gain, they may have to pay capital gains taxes." * Myth #2: Sales tax and state income tax are not deductible. How much myth and how much fact this is depends on which year you're speaking about…and could change, again, before 2008 ends. The tax code related to deducting sales tax or state income tax has caused a lot of confusion through the years. It used to be that individuals could deduct sales tax if they itemized. Then that option was removed. Starting in 2004 and renewed for 2006 and 2007, the option became that they could choose to deduct either their sales taxes or state income tax, but not both. For 2008, the law reverts to just being able to deduct state and local income tax, not sales tax, unless legislators extend the provision sometime this year. As for what people believe, just 9 percent of individuals answered that either sales tax or state income tax, but not both, can be deducted from their federal tax return, which is the correct answer when filling out 2007 tax returns. Fifteen percent answered state income tax only can be deducted, which - at least for now - is the correct answer for 2008. But nearly one-third, 30 percent, responded incorrectly, regardless of tax year, believing you can deduct both sales tax and state... To read the press release in full goto http://www.prweb.com/releases/CCH-Complete-Tax/tax-preparation/prweb697443.htm]]> 00:15:00 no http://www.prweb.com/releases/Online_Tax_Preparation/CCH_CompleteTax/prweb633471.htm http://www.prweb.com/releases/Online_Tax_Preparation/CCH_CompleteTax/prweb633471.htm With the tax code now exceeding 67,000 pages, CCH CompleteTax highlights some of the changes that taxpayers need to be aware of as they sit down to prepare their 2007 income tax returns [PRWeb Jan 22, 2008] http://www.prweb.com/releases/Online_Tax_Preparation/CCH_CompleteTax/prweb633471.htm Fri, 18 Jan 2008 17:37:21 -0800 podcrew@extrahoop.com CCH CompleteTax, the online tax preparation and electronic filing solution for the do-it-yourself taxpayer from CCH. CCH is a Wolters Kluwer business and a leading provider of tax, accounting and audit information, software and services. "Keeping up with tax law changes is about as fun as a root canal, which is why so many people rely on tax software or tax professionals to help make sure they have the information they need and are taking advantage of the various means available for reducing their taxes," said David Bergstein, CPA, tax analyst for CCH CompleteTax (www.CompleteTax.com). "But it's still a good idea to be an informed taxpayer so that you know the basics, ask the right questions and effectively plan to minimize your taxes throughout the year." And, this tax filing season, it's not just new tax law changes that are important to know about: the IRS also has changed the mailing addresses for filing income tax returns in several areas, making it all the more attractive to use electronic filing. According to Bergstein, changes affecting 2007 tax returns come in all flavors from credits and deductions to exemptions and outright exclusions, with more detail on all included in the free CCH CompleteTax Tax Guide (http://www.completetax.com/taxguide/taxguideTOC.asp). Below are just a few highlights of the changes for 2007, which Bergstein elaborated on in a podcast today: Exemptions - Personal exemption. This increased to $3,400 per person for 2007. - AMT exemption. This increased for 2007 to $44,350 for singles, $66,250 for married filing jointly or a qualified widow(er) and $33,125 for married filing separate returns. Deductions - Standard deduction. This increased for 2007 with the standard deduction for singles and married filing separately, $5,350; heads of household, $7,850; and married filing jointly, $10,700. - Standard mileage rate. The standard mileage rate deductions for 2007 are 48.5 cents per mile for business use of a vehicle and 14 cents per mile for charitable use. Taxpayers using their vehicles for deductible medical travel or for moving can deduct 20 cents per mile. - IRA deduction. The maximum IRA deduction allowed per person continued to be $4,000 in 2007. Those who were at least 50 years old can make an additional catch-up contribution of $1,000 to their IRA (through April 15, 2008). Credits - Residential energy credits. Taxpayers may be able to take a residential energy credit for the costs of having qualified energy-saving items installed in their main home. The credit, available in 2006 through 2007, is subject to a $500 lifetime limitation and no more than $200 of the credit can be used towards the purchase of energy-efficient windows. Another credit is available for alternative energy equipment. This covers up to 30 percent of the cost of solar water heaters, solar electricity equipment and fuel cell plants... To read the press release in full goto http://www.prweb.com/releases/Online_Tax_Preparation/CCH_CompleteTax/prweb633471.htm]]> Leslie Bonacum CCH CompleteTax Highlights Tax Changes Impacting 2007 Individual Income Tax Returns CCH CompleteTax, the online tax preparation and electronic filing solution for the do-it-yourself taxpayer from CCH. CCH is a Wolters Kluwer business and a leading provider of tax, accounting and audit information, software and services. "Keeping up with tax law changes is about as fun as a root canal, which is why so many people rely on tax software or tax professionals to help make sure they have the information they need and are taking advantage of the various means available for reducing their taxes," said David Bergstein, CPA, tax analyst for CCH CompleteTax (www.CompleteTax.com). "But it's still a good idea to be an informed taxpayer so that you know the basics, ask the right questions and effectively plan to minimize your taxes throughout the year." And, this tax filing season, it's not just new tax law changes that are important to know about: the IRS also has changed the mailing addresses for filing income tax returns in several areas, making it all the more attractive to use electronic filing. According to Bergstein, changes affecting 2007 tax returns come in all flavors from credits and deductions to exemptions and outright exclusions, with more detail on all included in the free CCH CompleteTax Tax Guide (http://www.completetax.com/taxguide/taxguideTOC.asp). Below are just a few highlights of the changes for 2007, which Bergstein elaborated on in a podcast today: Exemptions - Personal exemption. This increased to $3,400 per person for 2007. - AMT exemption. This increased for 2007 to $44,350 for singles, $66,250 for married filing jointly or a qualified widow(er) and $33,125 for married filing separate returns. Deductions - Standard deduction. This increased for 2007 with the standard deduction for singles and married filing separately, $5,350; heads of household, $7,850; and married filing jointly, $10,700. - Standard mileage rate. The standard mileage rate deductions for 2007 are 48.5 cents per mile for business use of a vehicle and 14 cents per mile for charitable use. Taxpayers using their vehicles for deductible medical travel or for moving can deduct 20 cents per mile. - IRA deduction. The maximum IRA deduction allowed per person continued to be $4,000 in 2007. Those who were at least 50 years old can make an additional catch-up contribution of $1,000 to their IRA (through April 15, 2008). Credits - Residential energy credits. Taxpayers may be able to take a residential energy credit for the costs of having qualified energy-saving items installed in their main home. The credit, available in 2006 through 2007, is subject to a $500 lifetime limitation and no more than $200 of the credit can be used towards the purchase of energy-efficient windows. Another credit is available for alternative energy equipment. This covers up to 30 percent of the cost of solar water heaters, solar electricity equipment and fuel cell plants... To read the press release in full goto http://www.prweb.com/releases/Online_Tax_Preparation/CCH_CompleteTax/prweb633471.htm]]> 00:15:00 no http://www.prweb.com/releases/2008/1/prweb610851.htm http://www.prweb.com/releases/2008/1/prweb610851.htm CCH CompleteTax® offers the opportunity to try it for free, so taxpayers can watch CCH CompleteTax lower their taxes by checking for eligible tax deductions and tax credits. Special support built into CCH CompleteTax helps those affected by AMT-forms have a hassle-free tax prep experience. [PRWeb Jan 10, 2008] http://www.prweb.com/releases/2008/1/prweb610851.htm Wed, 09 Jan 2008 11:49:22 -0800 podcrew@extrahoop.com CCH CompleteTax, the comprehensive online tax preparation and electronic filing software from CCH, a Wolters Kluwer business and a leading provider of tax, accounting and audit information, software and services. CCH CompleteTax, which goes live later this week for the 2008 tax filing season, takes CCH's 90-plus years of market-leading tax expertise and makes it available for do-it-yourself taxpayers in one of the most comprehensive, easy-to-use and affordable online tax preparation and electronic filing solutions available. Building on the success of CCH CompleteTax among a growing number of do-it-yourself tax prep and e-filing consumers, CCH CompleteTax for 2008 offers even more features and functionality to make it the choice for taxpayers looking for an easy and affordable way to complete their tax returns while ensuring they aren't paying more than they should either on their taxes or for their tax prep solution. "For many do-it-yourself taxpayers, the first hurdle of tax season is trying to determine what tax prep software they should use. CCH CompleteTax provides a clear-cut choice for taxpayers who want to streamline the process from their initial software selection through preparing and filing their tax return," said Debra Gray, CCH CompleteTax product manager, highlighting features of the software in a podcast also issued today. "Whether they are first-time filers or they have more complicated tax situations, individuals selecting CCH CompleteTax are confident they have the solution they need to quickly and easily complete their returns so that they get the tax savings they deserve." To help even more individuals reach this conclusion, taxpayers are encouraged to try CCH CompleteTax for free by simply logging onto the site and starting their tax return. Users need only pay when they go to print or file their tax return. For 2008, among the features consumers will realize from CCH CompleteTax are: • Ease of use - CCH CompleteTax is designed with the understanding that individuals want to finish their tax returns and move on - not become experts in the tax code. As a result, CCH CompleteTax takes a user-friendly approach from the very start, using easy-to-understand language and providing ready access to support tools if any questions arise. And, because CCH CompleteTax is all online, there is no software that needs to be downloaded; consumers simply log on to the site and start their return. They can save and return at any time and easily move between computers while completing their returns. • Comprehensiveness - CCH CompleteTax covers all the bases to make sure taxpayers take deductions and get credits they deserve. The interview process built into CCH CompleteTax is intuitive, building on previous responses to ask only the questions a taxpayer needs to answer based on his or her tax situation. The result is do-it-yourself taxpayers with the simplest to the most complex tax returns can rely on CCH CompleteTax for effective tax preparation. • Expertise and reliability - CCH CompleteTax is developed by CCH, a company that tax professionals have relied upon for information since the inception of the income tax in 1913. With intelligence built in, CCH CompleteTax... To read the press release in full goto http://www.prweb.com/releases/2008/1/prweb610851.htm]]> Leslie Bonacum CCH CompleteTax Makes Tax Prep and E-filing Affordable and Even Easier CCH CompleteTax, the comprehensive online tax preparation and electronic filing software from CCH, a Wolters Kluwer business and a leading provider of tax, accounting and audit information, software and services. CCH CompleteTax, which goes live later this week for the 2008 tax filing season, takes CCH's 90-plus years of market-leading tax expertise and makes it available for do-it-yourself taxpayers in one of the most comprehensive, easy-to-use and affordable online tax preparation and electronic filing solutions available. Building on the success of CCH CompleteTax among a growing number of do-it-yourself tax prep and e-filing consumers, CCH CompleteTax for 2008 offers even more features and functionality to make it the choice for taxpayers looking for an easy and affordable way to complete their tax returns while ensuring they aren't paying more than they should either on their taxes or for their tax prep solution. "For many do-it-yourself taxpayers, the first hurdle of tax season is trying to determine what tax prep software they should use. CCH CompleteTax provides a clear-cut choice for taxpayers who want to streamline the process from their initial software selection through preparing and filing their tax return," said Debra Gray, CCH CompleteTax product manager, highlighting features of the software in a podcast also issued today. "Whether they are first-time filers or they have more complicated tax situations, individuals selecting CCH CompleteTax are confident they have the solution they need to quickly and easily complete their returns so that they get the tax savings they deserve." To help even more individuals reach this conclusion, taxpayers are encouraged to try CCH CompleteTax for free by simply logging onto the site and starting their tax return. Users need only pay when they go to print or file their tax return. For 2008, among the features consumers will realize from CCH CompleteTax are: • Ease of use - CCH CompleteTax is designed with the understanding that individuals want to finish their tax returns and move on - not become experts in the tax code. As a result, CCH CompleteTax takes a user-friendly approach from the very start, using easy-to-understand language and providing ready access to support tools if any questions arise. And, because CCH CompleteTax is all online, there is no software that needs to be downloaded; consumers simply log on to the site and start their return. They can save and return at any time and easily move between computers while completing their returns. • Comprehensiveness - CCH CompleteTax covers all the bases to make sure taxpayers take deductions and get credits they deserve. The interview process built into CCH CompleteTax is intuitive, building on previous responses to ask only the questions a taxpayer needs to answer based on his or her tax situation. The result is do-it-yourself taxpayers with the simplest to the most complex tax returns can rely on CCH CompleteTax for effective tax preparation. • Expertise and reliability - CCH CompleteTax is developed by CCH, a company that tax professionals have relied upon for information since the inception of the income tax in 1913. With intelligence built in, CCH CompleteTax... To read the press release in full goto http://www.prweb.com/releases/2008/1/prweb610851.htm]]> 00:15:00 no http://www.prweb.com/releases/tax-advantaged/taxpayer/prweb508216.htm http://www.prweb.com/releases/tax-advantaged/taxpayer/prweb508216.htm CCH CompleteTax survey finds young taxpayers report lowest use of medical FSAs, employer-sponsored retirement plans and IRAs. They are more likely to give their employers a failing grade in helping them become tax savvy, and they are least likely to favor President Bush's proposed standard tax deduction for health insurance. Meanwhile, their older colleagues aren't doing all that well either in taking advantage of tax savings. [PRWeb Mar 1, 2007] http://www.prweb.com/releases/tax-advantaged/taxpayer/prweb508216.htm Wed, 28 Feb 2007 16:29:30 -0800 podcrew@extrahoop.com www.CompleteTax.com) is an online tax preparation and e-filing service for individual taxpayers developed by CCH, a Wolters Kluwer business and a leading provider of tax and accounting law information, software and services. "You generally can't avoid taxes, but there are some ways you can reduce them without a lot of pain. Unfortunately, taxpayers are still not as informed as they should be or participating as much as they could be to realize these tax savings," said David Bergstein, CPA, a tax analyst for CCH CompleteTax. The survey of 1,290 U.S. adult taxpayers, commissioned by CCH and conducted by Harris Interactive, found that many taxpayers are not taking full advantage of basic tax-saving strategies and those 18-24 years of age are the least likely to be doing so. The biggest jump in usage of tax-advantaged programs occurs between the age groups of 18-24 year-olds and 25-34 year-olds, with the percentage of individuals contributing to a medical flexible spending account (FSA) or 401(k) plan more than doubling between these age groups, and the percentage contributing to an individual retirement account (IRA) increasing 10 percentage points. The survey also found that 14 percent of all adult taxpayers are currently not saving for retirement. Among specific survey findings: • On average, 21 percent of taxpayers participated in a medical FSA in 2006, with 7 percent putting in the maximum amount allowed. However, among young taxpayers, those 18-24 years of age, only 10 percent participated in a company-sponsored medical FSA. Just 4 percent of young taxpayers are putting in the maximum allowed. An additional 11 percent of young taxpayers, however, are uncertain whether their company offers a medical FSA. • Overall, more than one-half of all taxpayers (56 percent) contributed to a company-sponsored retirement plan, including a 401(k), 457, 403(b) or SEP-IRA plan. This includes 14 percent of taxpayers that reported contributing fully in 2006 and 23 percent contributing at least up to the amount needed to make their employer reach their maximum contribution level under the plan. Young taxpayers were the least likely to participate in these retirement plans, with only 28 percent saying they do so, including just 4 percent that reported contributing fully and 16 percent contributing up to the amount needed to make their employer contribute the maximum under the plan. • While 3 in 10 taxpayers reported they have or would be contributing to a 2006 tax-advantaged traditional or Roth IRA, only 19 percent of young taxpayers reported that they are funding a 2006 tax-advantaged IRA. The majority of young taxpayers (57 percent) do not even know if they qualify for a tax-advantaged IRA. • It is not surprising, as a result, that young taxpayers don't think their employers are doing a good job at keeping them informed on topics such as retirement planning. Overall, 23 percent of taxpayers rated their companies as doing an excellent or very good job keeping them informed. However, only 15... To read the press release in full goto http://www.prweb.com/releases/tax-advantaged/taxpayer/prweb508216.htm]]> Leslie Bonacum CCH CompleteTax Survey: Young Taxpayers in the Dark on Tax-related Benefits www.CompleteTax.com) is an online tax preparation and e-filing service for individual taxpayers developed by CCH, a Wolters Kluwer business and a leading provider of tax and accounting law information, software and services. "You generally can't avoid taxes, but there are some ways you can reduce them without a lot of pain. Unfortunately, taxpayers are still not as informed as they should be or participating as much as they could be to realize these tax savings," said David Bergstein, CPA, a tax analyst for CCH CompleteTax. The survey of 1,290 U.S. adult taxpayers, commissioned by CCH and conducted by Harris Interactive, found that many taxpayers are not taking full advantage of basic tax-saving strategies and those 18-24 years of age are the least likely to be doing so. The biggest jump in usage of tax-advantaged programs occurs between the age groups of 18-24 year-olds and 25-34 year-olds, with the percentage of individuals contributing to a medical flexible spending account (FSA) or 401(k) plan more than doubling between these age groups, and the percentage contributing to an individual retirement account (IRA) increasing 10 percentage points. The survey also found that 14 percent of all adult taxpayers are currently not saving for retirement. Among specific survey findings: • On average, 21 percent of taxpayers participated in a medical FSA in 2006, with 7 percent putting in the maximum amount allowed. However, among young taxpayers, those 18-24 years of age, only 10 percent participated in a company-sponsored medical FSA. Just 4 percent of young taxpayers are putting in the maximum allowed. An additional 11 percent of young taxpayers, however, are uncertain whether their company offers a medical FSA. • Overall, more than one-half of all taxpayers (56 percent) contributed to a company-sponsored retirement plan, including a 401(k), 457, 403(b) or SEP-IRA plan. This includes 14 percent of taxpayers that reported contributing fully in 2006 and 23 percent contributing at least up to the amount needed to make their employer reach their maximum contribution level under the plan. Young taxpayers were the least likely to participate in these retirement plans, with only 28 percent saying they do so, including just 4 percent that reported contributing fully and 16 percent contributing up to the amount needed to make their employer contribute the maximum under the plan. • While 3 in 10 taxpayers reported they have or would be contributing to a 2006 tax-advantaged traditional or Roth IRA, only 19 percent of young taxpayers reported that they are funding a 2006 tax-advantaged IRA. The majority of young taxpayers (57 percent) do not even know if they qualify for a tax-advantaged IRA. • It is not surprising, as a result, that young taxpayers don't think their employers are doing a good job at keeping them informed on topics such as retirement planning. Overall, 23 percent of taxpayers rated their companies as doing an excellent or very good job keeping them informed. However, only 15... To read the press release in full goto http://www.prweb.com/releases/tax-advantaged/taxpayer/prweb508216.htm]]> 00:15:00 no http://www.prweb.com/releases/CCH_CompleteTax/income_tax_refund/prweb506424.htm http://www.prweb.com/releases/CCH_CompleteTax/income_tax_refund/prweb506424.htm Taxpayers can have their 2006 tax refund direct deposited in up to three accounts, including IRA accounts, helping support retirement saving goals. Additional CCH CompleteTax free tools, including a Tax Projector and W-4 Withholding Calculator, allow taxpayers to improve 2007 tax planning. [PRWeb Feb 21, 2007] http://www.prweb.com/releases/CCH_CompleteTax/income_tax_refund/prweb506424.htm Tue, 20 Feb 2007 16:32:37 -0800 podcrew@extrahoop.com www.CompleteTax.com), an online tax preparation and e-filing program for the do-it-yourself tax filer, enables taxpayers to split their refund and have it deposited in up to three accounts, including taxpayers' IRAs for funding 2006 individual retirement accounts. CompleteTax also offers several features, including an updated Tax Projector, to allow taxpayers to start tax planning for this year. "There's a natural inclination to look at your income tax refund as easy money, ripe for spending. But you owe it to yourself to look at your overall financial situation. You'll likely find you are far better off using at least some of your tax refund for retirement savings and paying down any debt you may have," said Debra Gray, CCH CompleteTax product manager. Helping to reduce the spending temptation, CompleteTax allows taxpayers to make the decision to save while they're preparing their tax return, meaning all or a part of the income tax refund can be directly deposited, for example, into your IRA account, rather than having a check mailed to you or the refund deposited into your checking account. In order to direct deposit a tax refund - whether to one, two or three accounts - all taxpayers need to do is indicate the name of each institution, the routing number, account number and amount they would like deposited into each account. "The option to deposit their refund into multiple accounts is important to taxpayers who want to responsibly manage what could be a very large dollar amount. CompleteTax makes this easy to do," said Gray. While taxpayers have until April 17 to file their 2006 income tax return , given the weekend and Patriot's Day holiday, they should not wait until the last minute to fund their 2006 IRA. Gray notes, although e-filing with direct deposit generally means taxpayers can get their refund in as little as two weeks, there's no guarantee by the IRS that each and every return will be processed that quickly. Additionally, taxpayers planning to direct deposit their refund into an IRA account should designate whether the contribution is for tax year 2006 or 2007 and ensure their financial institution's specific deadline for direct deposit of 2006 IRA contributions. Improving Your Tax Planning for 2007 Taxpayers interested in what they should be doing to ensure that their 2007 tax refund is not unnecessarily large also can tap free tools available on the CCH CompleteTax site. This includes a W-4 Withholdings Calculator that can help individuals with large tax refunds for 2006, determine how much less they should consider having withheld from their paychecks this year. This means the taxpayer has more income coming in throughout the year that can be invested in interest-bearing accounts... To read the press release in full goto http://www.prweb.com/releases/CCH_CompleteTax/income_tax_refund/prweb506424.htm]]> Leslie Bonacum CCH CompleteTax Offers Refund Options for Better Tax Planning and Saving www.CompleteTax.com), an online tax preparation and e-filing program for the do-it-yourself tax filer, enables taxpayers to split their refund and have it deposited in up to three accounts, including taxpayers' IRAs for funding 2006 individual retirement accounts. CompleteTax also offers several features, including an updated Tax Projector, to allow taxpayers to start tax planning for this year. "There's a natural inclination to look at your income tax refund as easy money, ripe for spending. But you owe it to yourself to look at your overall financial situation. You'll likely find you are far better off using at least some of your tax refund for retirement savings and paying down any debt you may have," said Debra Gray, CCH CompleteTax product manager. Helping to reduce the spending temptation, CompleteTax allows taxpayers to make the decision to save while they're preparing their tax return, meaning all or a part of the income tax refund can be directly deposited, for example, into your IRA account, rather than having a check mailed to you or the refund deposited into your checking account. In order to direct deposit a tax refund - whether to one, two or three accounts - all taxpayers need to do is indicate the name of each institution, the routing number, account number and amount they would like deposited into each account. "The option to deposit their refund into multiple accounts is important to taxpayers who want to responsibly manage what could be a very large dollar amount. CompleteTax makes this easy to do," said Gray. While taxpayers have until April 17 to file their 2006 income tax return , given the weekend and Patriot's Day holiday, they should not wait until the last minute to fund their 2006 IRA. Gray notes, although e-filing with direct deposit generally means taxpayers can get their refund in as little as two weeks, there's no guarantee by the IRS that each and every return will be processed that quickly. Additionally, taxpayers planning to direct deposit their refund into an IRA account should designate whether the contribution is for tax year 2006 or 2007 and ensure their financial institution's specific deadline for direct deposit of 2006 IRA contributions. Improving Your Tax Planning for 2007 Taxpayers interested in what they should be doing to ensure that their 2007 tax refund is not unnecessarily large also can tap free tools available on the CCH CompleteTax site. This includes a W-4 Withholdings Calculator that can help individuals with large tax refunds for 2006, determine how much less they should consider having withheld from their paychecks this year. This means the taxpayer has more income coming in throughout the year that can be invested in interest-bearing accounts... To read the press release in full goto http://www.prweb.com/releases/CCH_CompleteTax/income_tax_refund/prweb506424.htm]]> 00:15:00 no http://www.prweb.com/releases/2007/1/prweb500245.htm http://www.prweb.com/releases/2007/1/prweb500245.htm There is a first time for everything, even taxes. CCH CompleteTax analyst David Bergstein answers questions first-time filers may have as they prepare their income tax returns this year, including the information they need to get started, tax preparation options and common mistakes to avoid. [PRWeb Jan 26, 2007] http://www.prweb.com/releases/2007/1/prweb500245.htm Thu, 25 Jan 2007 16:56:32 -0800 podcrew@extrahoop.com income tax returns by themselves. And, although hundreds of millions of Americans have made this transition over the past 90-plus year history of the modern U.S. income tax, it really has gotten more complex to do your taxes than it was even 10 years ago, according to CCH, a Wolters Kluwer business and a leading provider of tax and accounting information, software and services. "The instruction manual alone for the Form 1040 is 84 pages, not including 60 additional pages to explain the accompanying 1040 schedules," said David Bergstein, CPA, a tax analyst for CCH CompleteTax, an online tax program for the do-it-yourself tax filer. "That's intimidating for anyone, let alone someone who's filing his taxes on his own for the first time." Below, CCH outlines what individuals coming of income-tax age need to know as they head out on their maiden income tax voyage. Do I need to file a tax return? Assuming you are at least 18 years old and your 2006 gross income is at least $8,450 (or $16,900 if married filing jointly), you generally have to file an income tax return. If you are under age 18, your parents can include your income on their return. Even if you do not otherwise have to file a return, you should if you want to get a refund of any federal income tax withheld. You also should file if you are eligible for any credits, including a special federal telephone excise tax paid credit available to all eligible households for 2006. What information do I need to start to prepare my return? Among the key materials you should have on hand when you start working on your tax return: • Your tax return from 2005. So, if your parents are still holding on to your records from last year, make sure you get them before you start preparing your 2006 return. Also, if you got married this year and you and your spouse are filing jointly, you'll need your spouse's tax return from last year as well. • Your Social Security number as well as the Social Security number for your spouse or children, if applicable. • All W-2s (the form from your employer listing your wages and taxes withheld during 2006), 1099s (statements related to dividend income, proceeds from selling mutual funds, etc., provided by your financial services institutions), and mortgage interest statements or other statements related to income such as bank or brokerage statements. • All statements related to expenses that you hope to claim on your tax return, including receipts from charitable organizations. • Your bank's name, your routing number and account number if you are expecting a tax refund and want it deposited directly... To read the press release in full goto http://www.prweb.com/releases/2007/1/prweb500245.htm]]> Leslie Bonacum CCH CompleteTax Outlines What First-Time Filers Need to Know as Tax Season Gets Underway income tax returns by themselves. And, although hundreds of millions of Americans have made this transition over the past 90-plus year history of the modern U.S. income tax, it really has gotten more complex to do your taxes than it was even 10 years ago, according to CCH, a Wolters Kluwer business and a leading provider of tax and accounting information, software and services. "The instruction manual alone for the Form 1040 is 84 pages, not including 60 additional pages to explain the accompanying 1040 schedules," said David Bergstein, CPA, a tax analyst for CCH CompleteTax, an online tax program for the do-it-yourself tax filer. "That's intimidating for anyone, let alone someone who's filing his taxes on his own for the first time." Below, CCH outlines what individuals coming of income-tax age need to know as they head out on their maiden income tax voyage. Do I need to file a tax return? Assuming you are at least 18 years old and your 2006 gross income is at least $8,450 (or $16,900 if married filing jointly), you generally have to file an income tax return. If you are under age 18, your parents can include your income on their return. Even if you do not otherwise have to file a return, you should if you want to get a refund of any federal income tax withheld. You also should file if you are eligible for any credits, including a special federal telephone excise tax paid credit available to all eligible households for 2006. What information do I need to start to prepare my return? Among the key materials you should have on hand when you start working on your tax return: • Your tax return from 2005. So, if your parents are still holding on to your records from last year, make sure you get them before you start preparing your 2006 return. Also, if you got married this year and you and your spouse are filing jointly, you'll need your spouse's tax return from last year as well. • Your Social Security number as well as the Social Security number for your spouse or children, if applicable. • All W-2s (the form from your employer listing your wages and taxes withheld during 2006), 1099s (statements related to dividend income, proceeds from selling mutual funds, etc., provided by your financial services institutions), and mortgage interest statements or other statements related to income such as bank or brokerage statements. • All statements related to expenses that you hope to claim on your tax return, including receipts from charitable organizations. • Your bank's name, your routing number and account number if you are expecting a tax refund and want it deposited directly... To read the press release in full goto http://www.prweb.com/releases/2007/1/prweb500245.htm]]> 00:15:00 no http://www.prweb.com/releases/Tax/Return/prweb496788.htm http://www.prweb.com/releases/Tax/Return/prweb496788.htm Easy-to-use, low-cost solution supported by top-notch expertise. Special support for those claiming state and local sales tax, higher education or educator deductions. [PRWeb Jan 12, 2007] http://www.prweb.com/releases/Tax/Return/prweb496788.htm Thu, 11 Jan 2007 15:29:09 -0800 podcrew@extrahoop.com www.CompleteTax.com) starting today for the 2007 tax season. CCH CompleteTax, from CCH, a Wolters Kluwer business, provides even more functionality while continuing to set the standard when it comes to ensuring individuals have an easy-to-use, affordable resource for completing their taxes. Using CompleteTax to prepare a federal tax return costs just $25.95; adding a state tax return costs just $12.95. Electronic filing is free for both federal and state returns prepared through CompleteTax. New for this year, a stored value card allows taxpayers preferring not to have their tax refund directly deposited into their bank account to still receive a fast refund. The stored value card can be used for purchases at any retail store, or be used at any ATM. Additionally, this year CCH CompleteTax provides special support for both those claiming certain deductions and for those seeking to file an extension. "CompleteTax is a leading choice among both younger taxpayers just starting to file taxes on their own as well as more seasoned taxpayers who want rich tax expertise at the right price. These are people looking for a streamlined, hassle-free and affordable solution to getting their taxes done as quickly and easily as possible, which is exactly what CompleteTax is geared to do," said Debra Gray, CCH CompleteTax product manager. CCH CompleteTax leverages CCH's market-leading tax law information and software expertise to provide one of the most comprehensive, straightforward online tax preparation and electronic filing solutions. The product is offered by the same CCH tax law research and software experts who developed ProSystem fx Tax, the leading tax preparation software for tax professionals. CompleteTax also includes an online, fully searchable Tax Guide produced by the tax and financial experts responsible for the CCH Toolkit Tax Guide 2007, CCH's authoritative print reference for individual taxpayers. The Tax Guide and the CompleteTax program are all online and completely up-to-date incorporating the hundreds of tax changes that affect taxpayers' 2006 tax returns. "CompleteTax not only has the authority of more than 90 years of CCH income tax law expertise built in, but offers a program that is designed to be clear and concise, with all the right information and support," said Gray. "Taxpayers simply log on, go through an easy-to-follow interview process, tap into any of our resources if they have a question, review their system-generated return, then let CompleteTax Leslie Bonacum CCH CompleteTax Offers Best Value for Online Tax Preparation and E-Filing for Do-It-Yourself Taxpayers www.CompleteTax.com) starting today for the 2007 tax season. CCH CompleteTax, from CCH, a Wolters Kluwer business, provides even more functionality while continuing to set the standard when it comes to ensuring individuals have an easy-to-use, affordable resource for completing their taxes. Using CompleteTax to prepare a federal tax return costs just $25.95; adding a state tax return costs just $12.95. Electronic filing is free for both federal and state returns prepared through CompleteTax. New for this year, a stored value card allows taxpayers preferring not to have their tax refund directly deposited into their bank account to still receive a fast refund. The stored value card can be used for purchases at any retail store, or be used at any ATM. Additionally, this year CCH CompleteTax provides special support for both those claiming certain deductions and for those seeking to file an extension. "CompleteTax is a leading choice among both younger taxpayers just starting to file taxes on their own as well as more seasoned taxpayers who want rich tax expertise at the right price. These are people looking for a streamlined, hassle-free and affordable solution to getting their taxes done as quickly and easily as possible, which is exactly what CompleteTax is geared to do," said Debra Gray, CCH CompleteTax product manager. CCH CompleteTax leverages CCH's market-leading tax law information and software expertise to provide one of the most comprehensive, straightforward online tax preparation and electronic filing solutions. The product is offered by the same CCH tax law research and software experts who developed ProSystem fx Tax, the leading tax preparation software for tax professionals. CompleteTax also includes an online, fully searchable Tax Guide produced by the tax and financial experts responsible for the CCH Toolkit Tax Guide 2007, CCH's authoritative print reference for individual taxpayers. The Tax Guide and the CompleteTax program are all online and completely up-to-date incorporating the hundreds of tax changes that affect taxpayers' 2006 tax returns. "CompleteTax not only has the authority of more than 90 years of CCH income tax law expertise built in, but offers a program that is designed to be clear and concise, with all the right information and support," said Gray. "Taxpayers simply log on, go through an easy-to-follow interview process, tap into any of our resources if they have a question, review their system-generated return, then let CompleteTax 00:15:00 no http://www.prweb.com/releases/CompleteTax/efile/prweb496033.htm http://www.prweb.com/releases/CompleteTax/efile/prweb496033.htm CCH outlines where to claim deductions not listed on the 1040 and how to claim the phone tax refund. [PRWeb Jan 8, 2007] http://www.prweb.com/releases/CompleteTax/efile/prweb496033.htm Thu, 11 Jan 2007 10:39:09 -0800 podcrew@extrahoop.com Form 1040 at tax time, according to CCH, a Wolters Kluwer business and a leading provider of tax and accounting information, software and services (www.CCHGroup.com). Thanks to last-minute tax changes enacted as part of the Tax Relief and Health Care Act of 2006, you may find the instructions for the Form 1040 tax return more challenging than ever. The Act, which includes $45.1 billion in tax benefits and adds over 200 changes to the tax code, means that millions of Americans can save money on their taxes for 2006 and beyond, but only if they know where to look. That's because this year's tax forms and first round of instructions were printed well before the president signed the bill into law on December 20, 2006. "There is no such thing as a recall on a tax form -- at least not so far," said David Bergstein, CPA, an analyst for CCH CompleteTax (www.completetax.com), an online tax program for the do-it-yourself tax filer. "But this may be the last straw for some of the more than 20 million Americans that still file their returns manually." For the rest of the individual filers who either file using an online or software-based tax program, or rely on a professional tax preparer, it shouldn't be that difficult as the complexity is left up to the program or the preparer to sort out. "The online tax program should walk you through a series of questions and, based on your answers, it will make the required calculations and populate the appropriate lines on the necessary forms," said Bergstein, adding that, similarly, a tax preparer will generally provide you with a question-and-answer organizer form to fill out so that he or she can gather most if not all of the relevant information necessary to be able to properly prepare your tax return. That said, individuals should be aware of what the general tax law changes are that could affect their tax situation, for good or bad, and have an idea of how this will be reported on their tax return. So, among the changes that will require special treatment as taxpayers fill out or review their Form 1040 are changes allowing a deduction for state and local sales tax, a higher education tuition deduction and teacher's classroom expense deduction. Additionally, the IRS is offering a one-time refund to taxpayers for telephone excise taxes charged between 2003 and 2006. The refund is claimed on the Form 1040 and a special 1040 has been created for individuals who are not required to file a tax return. Below, CCH provides an overview of these tax law changes and where taxpayers should claim the credit or deduction on their 2006 Form 1040 and accompanying forms. Claiming Extended Deductions on Form 1040 State and Local Sales Tax Deduction Under the American Jobs Creation Act of 2004, taxpayers were allowed to deduct either state and local income taxes... To read the press release in full goto http://www.prweb.com/releases/CompleteTax/efile/prweb496033.htm]]> Leslie Bonacum CCH on the Form 1040: When Printing and Lawmaking Schedules Collide, Results can be Confusing for Taxpayers Form 1040 at tax time, according to CCH, a Wolters Kluwer business and a leading provider of tax and accounting information, software and services (www.CCHGroup.com). Thanks to last-minute tax changes enacted as part of the Tax Relief and Health Care Act of 2006, you may find the instructions for the Form 1040 tax return more challenging than ever. The Act, which includes $45.1 billion in tax benefits and adds over 200 changes to the tax code, means that millions of Americans can save money on their taxes for 2006 and beyond, but only if they know where to look. That's because this year's tax forms and first round of instructions were printed well before the president signed the bill into law on December 20, 2006. "There is no such thing as a recall on a tax form -- at least not so far," said David Bergstein, CPA, an analyst for CCH CompleteTax (www.completetax.com), an online tax program for the do-it-yourself tax filer. "But this may be the last straw for some of the more than 20 million Americans that still file their returns manually." For the rest of the individual filers who either file using an online or software-based tax program, or rely on a professional tax preparer, it shouldn't be that difficult as the complexity is left up to the program or the preparer to sort out. "The online tax program should walk you through a series of questions and, based on your answers, it will make the required calculations and populate the appropriate lines on the necessary forms," said Bergstein, adding that, similarly, a tax preparer will generally provide you with a question-and-answer organizer form to fill out so that he or she can gather most if not all of the relevant information necessary to be able to properly prepare your tax return. That said, individuals should be aware of what the general tax law changes are that could affect their tax situation, for good or bad, and have an idea of how this will be reported on their tax return. So, among the changes that will require special treatment as taxpayers fill out or review their Form 1040 are changes allowing a deduction for state and local sales tax, a higher education tuition deduction and teacher's classroom expense deduction. Additionally, the IRS is offering a one-time refund to taxpayers for telephone excise taxes charged between 2003 and 2006. The refund is claimed on the Form 1040 and a special 1040 has been created for individuals who are not required to file a tax return. Below, CCH provides an overview of these tax law changes and where taxpayers should claim the credit or deduction on their 2006 Form 1040 and accompanying forms. Claiming Extended Deductions on Form 1040 State and Local Sales Tax Deduction Under the American Jobs Creation Act of 2004, taxpayers were allowed to deduct either state and local income taxes... To read the press release in full goto http://www.prweb.com/releases/CompleteTax/efile/prweb496033.htm]]> 00:15:00 no