IRS Offers Year-End Tips For Tennesseans

Thursday, December 19, 2013

The Internal Revenue Service will start accepting and processing 2013 tax returns Jan. 31, 2014. The delay is to allow time to update, program and properly test all systems after that process was interrupted by the government shutdown in 2013.

IRS spokesman Dan Boone said the agency expects Tennesseans to file about 3 million tax returns, with more than 2.5 million of those being filed electronically. He encouraged taxpayers to take advantage of IRS Free File, at IRS.gov, where all filers can prepare and file their returns free online beginning Jan. 31.

"E-filing speeds up refunds and eliminates most errors, plus you get confirmation that the IRS got your tax return," Mr. Boone said. But while the start of the filing season is delayed, he reminded filers that the clock is ticking when it comes to certain actions that must be taken by Dec. 31 to count for the 2013 tax year.

"Taxpayers need to act now when it comes to making donations to charities and contributions to workplace retirement plans," Mr. Boone said. He offered these specific reminders:

Gifts to Charities - Donations to qualified charities must be made by 12/31/13 in order to be deducted on your 2013 tax return. You must itemize deductions and you must have proper documentation for each donation, no matter how large or small it is, to take the charitable contributions deduction. A donation charged to a credit card by Dec. 31 is deductible for 2013 even if you don't pay the credit card bill until 2014.

Tax-Free IRA Distribution - Filers who are age 70 and a half or older can have up to $100,000 transferred directly to a qualified charity. This transfer can serve as the filer's required minimum yearly IRA distribution, is tax-free to the filer, and benefits the charity. But this tax benefit is set to expire after 12/31/13.

Saver's Credit - Low- and moderate-income workers can take steps now to save for retirement and earn a special tax credit in 2013. The saver’s credit helps offset part of the first $2,000 workers voluntarily contribute to IRAs and to 401(k) plans and similar workplace retirement programs. People have until April 15, 2014, to set up and contribute to a new IRA for 2013 or to add money to an existing IRA for 2013, but elective contributions to a 401(k) plan or similar workplace program must be made by 12/31/13.
 

New Hamilton County Businesses

Here are the new business licenses from the County Clerk's office: 504 FINISHES 3011 LANCASTER CIR CHATTANOOGA, TN 37415 A TASTE OF SUNSHYNE 115 NORTH LOVELL AVE CHATTANOOGA, TN 37411 ADAM DODGE VARIOUS LOCATIONS CHATTANOOGA, TN 37400 BAKER AUDIO VISUAL VARIOUS LOCATIONS CHATTANOOGA, TN 37400 BEAD EPIDEMIC 1308 ALETHEA DR HIXSON, TN 37343 ... (click for more)

Administrative Office Of The Courts Now Accepting Grant Applications

The Administrative Office of the Courts is now accepting Grant Applications for the Parent Education and Mediation Fund as well as the Victim Offender Reconciliation Program for the 2017-2018 fiscal year.   The Victim Offender Reconciliation Program of Tennessee (VORP) was sanctioned by the legislature in 1993.  Pursuant to this legislation, the Administrative ... (click for more)

Marquis Perry, 20, Killed In 3-Car Accident In Dalton On Saturday

Marquis Perry, 20, was killed in a  fatal three-vehicle crash on the South Bypass in Dalton just south of Sawgrass Drive  on Saturday  at approximately  4:30 pm . The crash happened when the driver of a black Ford Mustang traveling southbound on the bypass for some reason left its lane of travel and crossed over the center line and hit a 2004 Chevy ... (click for more)

Cedric A. Williams, 38, Arrested For Multiple Burglaries

Cedric A. Williams, 38, responsible for four business burglaries, was arrested by Chattanooga Police.  Teamwork, corroboration, and communication between three detectives working separate cases led to the arrest of the man targeting Hispanic-owned businesses in Chattanooga,, officials said. On Wednesday, March 8, Tienda Maya located at 1939 Central Ave. was burglarized. ... (click for more)

Slaxxon Regret - And Response

Back in the seventies my three oldest brothers had a buddy named Steve Slack. “Slack” was a star soccer player at Baylor and he grew up on Lookout Mountain, which is where I grew up. He and Jimmy, Henry and Bill went to the University of Virginia where they were roommates in an old, beat up house that was painted pink. Naturally, the place became known as the “Pink Palace” but lest ... (click for more)

Roy Exum: This Library Comes Alive

I am pretty positive that I haven’t stepped foot in a library in the last 50 years. Between the ever-widening Internet, with all of its search engines and infinite resources, I have got about as much use for a library as I would if I read a book about a transgender person. I have neither the time or inclination. Be like trying to teach a pig to sing – the pig always get bored. ... (click for more)