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Eight tips from IRS on summer activities with tax implications

Eight tips from IRS on summer activities with tax implications
News from Alexandria Echo Press:

As you reflect on summer memories, the Internal Revenue Service reminds you that some seasonal activities may have a tax benefit or implication.

If you helped a charity, moved, married, vacationed, experienced a damaging storm, sent the kids to camp or paid for college, hold onto the records or receipts. “If you haven’t already, establish a central location to keep tax-related documents,” said Carrie Resch, IRS spokesperson. “Not only are some records required to claim a tax benefit, but they can also remind you of months-old transactions and simplify the process when you file in 2012.”

Here are tips from the IRS that may help you lower your taxes or avoid tax problems:

1. If you got married report any name change to the Social Security Administration before you file your next tax return and report any address change to the Postal Service, your employer and the IRS to ensure you get tax-related items. Also, use the Withholding Calculator at IRS.gov to make sure…………… continues on Alexandria Echo Press
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