Up to $400 Tax Rebates Returning to Virginians: What You Need to Know
Read full article: Up to $400 Tax Rebates Returning to Virginians: What You Need to KnowSince taking office three years ago, Governor Youngkin has announced tax rebates for Virginians each year. On Wednesday, he said strong job growth and more than $10 billion in surplus revenue are fueling a record $9 billion in tax relief.
Tax-Free Weekend Brings Big Savings for Roanoke Shoppers
Read full article: Tax-Free Weekend Brings Big Savings for Roanoke ShoppersVirginia’s annual three-day sales tax holiday kicked off early Friday morning, offering shoppers in Roanoke, and across the state, a break on items ranging from classroom essentials to emergency preparedness gear.
WATCH: Interview with tax expert on tax tips for senior citizens
Read full article: WATCH: Interview with tax expert on tax tips for senior citizensJustin Smith from Neely’s accounting joined 10 News Anchor John Carlin in the studio Wednesday and gave tax advice and tips for senior citizens. Watch the full interview here.
YOUR QUESTIONS: Get expert tax advice on ‘It’s Your Money’
Read full article: YOUR QUESTIONS: Get expert tax advice on ‘It’s Your Money’As tax season approaches, WSLS 10 News is here to help you with our newest series, “It’s Your Money,” sponsored by Neely Accounting. Tune in every Monday and Wednesday at 5 p.m. and 7 p.m. from March 5 through April 9.
Restaurant owners support tax exemption proposal for employee tips
Read full article: Restaurant owners support tax exemption proposal for employee tipsFrom groceries to gas, we all know that the cost of living is high and now Governor Glenn Youngkin wants to do something about it to help he’s proposing an exemption on tips from someone’s state income taxes, if they work in food service, hospitality, or personal service.
Henry County Board of Supervisors tap into savings to avert tax increase
Read full article: Henry County Board of Supervisors tap into savings to avert tax increaseThe Henry County Board of Supervisors voted on Tuesday to balance its fiscal year budget through use of the county’s general fund reserves instead of increasing real estate taxes.
Real estate assessments skyrocket in Buena Vista, causing concerns for homeowners
Read full article: Real estate assessments skyrocket in Buena Vista, causing concerns for homeownersReal estate assessments in Buena Vista have soared, leaving homeowners shocked and worried about the implications of higher taxes on their financial well-being.
Montgomery County residents not happy about proposed real estate tax increase
Read full article: Montgomery County residents not happy about proposed real estate tax increaseThe Montgomery County Board of Supervisors will vote on the “proposed budget” Monday. People are upset there because of the potential increase in real estate tax.
Your federal taxes are due in less than a week; Here’s how to still get them done in time
Read full article: Your federal taxes are due in less than a week; Here’s how to still get them done in timeThe clock is ticking on the deadline to file your federal taxes. However, if you haven’t started, there is no need to panic. You still have a little bit of time left to get everything done.
Why Shohei Ohtani’s heavily-deferred contract could be model pro athletes ask for going forward
Read full article: Why Shohei Ohtani’s heavily-deferred contract could be model pro athletes ask for going forwardOhtani has decided to defer $680 million of the contract until after his playing days are over, meaning he’ll take in roughly $2 million of salary each year for the duration of the contract that will run through 2033.
IRS aims to go paperless by 2025 as part of its campaign to conquer mountains of paperwork
Read full article: IRS aims to go paperless by 2025 as part of its campaign to conquer mountains of paperworkMost taxpayers will be able to digitally submit a slew of tax documents and other communications to the IRS next filing season and the agency plans to go completely paperless in 2025.
Bedford County leaders consider raising real estate taxes
Read full article: Bedford County leaders consider raising real estate taxesPeople in Bedford County may have to pay more in real estate taxes and county leaders are planning $55,000,000 worth of improvement projects they say will attract more people to the area.
Montgomery County leaders hold public hearing for real estate tax increase
Read full article: Montgomery County leaders hold public hearing for real estate tax increaseMontgomery County leaders want to hear from the public about how money is spent, and the board of supervisors is holding a public hearing.
Montgomery County board members approve cigarette tax
Read full article: Montgomery County board members approve cigarette taxIn a 4-3 vote, the Montgomery County Board of Supervisors approved a measure allowing the county to collect 40 cents on cigarettes sold in “unincorporated areas” outside the towns.
Roanoke City leaders host discussion about citizens getting a rebate
Read full article: Roanoke City leaders host discussion about citizens getting a rebateRoanoke City’s leaders will be discussing giving a rebate to those who have paid their personal property taxes, according to Roanoke City Councilwoman Stephanie Moon Reynolds.
Inflation and car prices: What’s going on? How did this happen?
Read full article: Inflation and car prices: What’s going on? How did this happen?It seems like you hear about it more and more these days: The extreme lengths people are going to in order to buy a new house; how much it costs to fill up the gas tank; and what we’re spending at the grocery store.
University of Lynchburg professor says most pet owners can’t claim animals on their taxes
Read full article: University of Lynchburg professor says most pet owners can’t claim animals on their taxesThe IRS does not allow people to claim pets as dependents on their taxes, despite piling food and vet bills.
5 situations in which pets can be used for tax breaks
Read full article: 5 situations in which pets can be used for tax breaksFor those animal lovers who spend so much money on their pets and hope to recoup some of that cash spent when tax season arrives, this is the cold, hard reality: For the most part, you can’t.
Gov. Glenn Youngkin talks to 10 News one-on-one, discussing several topics impacting Virginians
Read full article: Gov. Glenn Youngkin talks to 10 News one-on-one, discussing several topics impacting VirginiansVirginia Governor Glenn Youngkin visited Lynchburg Friday and spoke one-on-one with 10 News about several topics impacting Southwest and Central Virginia.
Quiz: How much do you know about income tax?
Read full article: Quiz: How much do you know about income tax?You likely know what “income” means, and of course you’re aware of federal and state taxes, and the fact that we have to do them (or have them prepared for us, in some cases), every year. But how much do you know about income tax overall?
Giving Tuesday: How these 4 tax break changes for 2021 can enhance contributions
Read full article: Giving Tuesday: How these 4 tax break changes for 2021 can enhance contributionsFor those who plan on donating to a charitable organization for Giving Tuesday, there could be some opportunities to receive money back when filing taxes next year.
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Still need to do your taxes? Don’t worry, there’s still some time.
Read full article: Still need to do your taxes? Don’t worry, there’s still some time.Neely has nearly 40 years of experience and said from more people filing unemployment to PPP loans and stimulus checks, this tax season is unique. Make sure you have a tax preparer caught up with all the changes.
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Lynchburg City Council to consider real estate tax increase at next meeting
Read full article: Lynchburg City Council to consider real estate tax increase at next meetingLYNCHBURG, Va. – Lynchburg residents have the chance to attend a public hearing on March 30 and express their thoughts over the city’s budget. One major item is a possible increase in real estate taxes. Preston said his valuation went up 16%, and he’s already paying about $1,100 a year. This comes as the city council considers raising real estate taxes because Lynchburg’s total assessment went up to $428 million. “For the city government to now come in and say, ‘okay, we’re going to add an extra burden, another $4.2 million of tax increase on these citizens and businesses?
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IRS extends tax filing deadline to May 17
Read full article: IRS extends tax filing deadline to May 17On Tuesday, more than 100 lawmakers, including four representatives from Virginia, signed a letter asking the IRS to extend the deadline to July 15. With the IRS handling a third-round of stimulus checks and fewer tax service aides available because of the coronavirus pandemic, agencies are feeling the pressure. AdEvery year, Total Action for Progress (TAP) offers free tax filing services. “With a pandemic still hanging over our heads, I would love to get some more time.”To meet in the middle, the IRS set the new deadline date for May 17. But more than 150 million tax returns are expected to be filed this year and with the new deadline, tax refund checks may not arrive until 6 to 8 weeks after filing.
Taxes: Answers to top FAQs about Social Security income
Read full article: Taxes: Answers to top FAQs about Social Security incomeEven for those of us who think we have some knowledge about anything tax related, it can be a stressful time. And it's certainly not a time when you want to play a guessing game.
How do I file taxes if I’m working remotely in another state that’s not my residence?
Read full article: How do I file taxes if I’m working remotely in another state that’s not my residence?A common aspect of the COVID-19 pandemic over the past two or so years has been more employees working remotely, but that doesn’t necessarily mean all those people were working from their homes.
You’ve filed your taxes -- now, what should you do with those documents?
Read full article: You’ve filed your taxes -- now, what should you do with those documents?If you’ve finally gotten your taxes filed, you’re probably ready to put it all away and move on. Have you considered which documents you should keep? And for how long?
Is it time to switch to paying quarterly taxes? Here’s when to decide, and how to get it done.
Read full article: Is it time to switch to paying quarterly taxes? Here’s when to decide, and how to get it done.There’s one day each year that sticks out to American taxpayers everywhere, and this year is April 18: Tax Day. But to another group of people -- the ones who make quarterly payments -- there are three other times a year to pay up.
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3 ways to handle unemployment benefits when it comes to income taxes
Read full article: 3 ways to handle unemployment benefits when it comes to income taxesFor those who turned to unemployment benefits last year, with tax season upon us, you might be wondering how it’s all going to shake out when it comes to filing your income taxes. But here’s the thing: You still have to pay federal taxes on said unemployment benefits. It ensures you won’t have that burden later, giving you a head start when tax season approaches. Pay quarterlyIf you didn’t have your taxes withheld, another option is to send quarterly estimated taxes on that money to the IRS. When quarterly taxes are due:When you get paid Tax due date Jan. 1–March 31 April 15 April 1–May 31 June 15 June 1–Aug.
This checklist will help ensure you have everything prepared for filing this tax season
Read full article: This checklist will help ensure you have everything prepared for filing this tax seasonRegardless of whether you’ve paid someone for help or tried to do it on your own, even just gathering all the data you need for filing your federal income taxes can seem daunting.
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2021 brings new tax identity theft threats, BBB advises to file early
Read full article: 2021 brings new tax identity theft threats, BBB advises to file earlyTax filings start Friday, Feb. 12 and the Better Business Bureau recommends you file sooner rather than later. There’s a risk that comes with waiting and the BBB calls it tax identity theft. Someone could use your social security number to file a phony tax return and collect your refund. You won’t know the identity theft happened until you file and the IRS rejects it as a duplicate filing. Another way someone can fall victim to tax identity theft is IRS impersonation scams.
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Coronavirus stimulus checks add new complication to tax return season
Read full article: Coronavirus stimulus checks add new complication to tax return seasonROANOKE, Va. – Americans are preparing to receive money from the government, but not just in the form of $600 stimulus checks. Tax return filing season will likely begin by the end of January and tax return preparer David Kembel anticipates the process will have an additional significance this year because of the stimulus payments. Kembel said that’s because of the IRS, not because of individual tax return preparers. “Just give everyone some money and don’t worry about it, but they did tie it to taxes.”Kembel expects many Americans to file early because of the stimulus checks, but tax return preparers are used to an early flood of customers every tax season. “Everything in between is just a blur.”The IRS has not yet set the first day for filing tax returns.
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The IRS has made changes to the tax bracket -- here’s what it will mean for you
Read full article: The IRS has made changes to the tax bracket -- here’s what it will mean for youEarlier this week, the IRS announced the 2021 tax year annual inflation adjustments for more than 60 tax previsions. Those include tax rate schedules and other tax changes. The following are the 2021 tax rates, which will be used when filing taxes in 2022 for the previous year of income. Taxpayers with lower incomes with have lower federal tax rates. Click or tap here to learn about more changes that have come with tax inflation adjustments for tax year 2021.

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