Rhode Island

Tax Planning.

HOME

February 06, 2012

Selecting an attorney for legal cases is a very important decision. Please enter your information below to receive a Free Consultation from an attorney in your area:

Zip Code:

Taxation Legal News

2005 Federal Earned Income Tax Credit

Earned Income Credit Amounts Increase

The maximum amount of income you can earn and still get the credit is higher for 2005 than it is for 2004. You may be able to take the credit for 2005 if:

You have more than one qualifying child and you earn less than $35,263 ($37,263 if married filing jointly)

You have one qualifying child and you earn less than $31,030 ($33,030 if married filing jointly)

You do not have a qualifying child and you earn less than $11,750 ($13,750 if married filing jointly)

The maximum amount of adjusted gross income (AGI) you can have and still get the credit has also increased.

You may be able to take the credit if your AGI is less than the amount in the above list that applies to you.

Contact our Rhode Island Taxation Lawyer Now!

Did You Know?

Form 5471 is Information Return of U.S. Persons With Respect to Certain Foreign Corporations
Report information with respect to certain foreign corporations. A domestic partnership may have to file Form 5471 if it: Controls a foreign corporation; or Acquires, disposes of, or owns 5% or more in value of the outstanding stock of a foreign corporation; or Owns stock in a corporation that is a controlled foreign corporation for an uninterrupted period of 30 days or more during any tax year of the foreign corporation, and it owned that stock on the last day of that year.

	Newsroom
	News about Taxation cases in Rhode Island and nationwide: IRS Announces Standard Amounts for Telephone Tax Refunds WASHINGTON — The Internal Revenue Service today announced the standard amounts that most long-distance customers can use to figure their telephone ... Read more > No Taxation Without Explanation The report highlights NYC's unique tax diversity. While other large cities tend to rely primarily on just two taxes-most often property and sal... Read more > Tax Amnesty Collections Near $10 Million Program on Pace to Hit $48 Million Target Richmond, VA, October 15, 2003 - Virginia's Tax Amnesty program, which seeks to... Read more > More Taxation News >

Taxation Terms

Today's Terms

Electric and Clean-Fuel Vehicles

Definition:
For vehicles placed in service in 2004, the maximum clean-fuel vehicle deduction and qualified electric vehicle credit are scheduled to be reduced by 25%, as compared to 2003.

Installment Agreements

Definition:
To be eligible for an installment agreement, all returns that are due must first be filed. Installment agreements generally require equal monthly payments. The amount of an installment payment will be based on the amount owed and on the taxpayer’s ability to pay that amount within the time legally available for the IRS to collect.

Partnership return

Definition:
If you need more time to file a partnership return, file Form 8736, Application for Automatic Extension of Time To File U.S. Return for a Partnership, REMIC, or for Certain Trusts, for an automatic 3-month extension. File Form 8736 by the regular due date of the partnership return.

More Taxation Terms >

Tax Legal Resources

Search Taxation legal resources in our resource center:

More Resources >

Taxation Hot Topics

Topics Related to Taxation Law:

Income Tax Cases
Recent Estate & Gift Tax Cases
Recent Income Tax Cases
State Statutes Dealing with Taxation

Rhode Island Taxation Attorney

If you live in the following cities and need an taxation attorney you should contact our Taxation Attorney as soon as possible:

Barrington
Bristol
Central Falls
Coventry
Cranston
Cumberland
East Greenwich
East Providence
Johnston
Lincoln
Middletown
Narragansett
Newport

North Kingstown
North Providence
Pawtucket
Portsmouth
Providence
Riverside
Tiverton
Wakefield
Warwick
West Warwick
Westerly
Woonsocket

Legal Disclaimers
All attorney listings are a paid attorney advertisement, and do not in any way constitute a referral or endorsement by an approved or authorized lawyer referral service. The information provided on Rhode Island Tax Planning.com is not intended to be legal advice, but merely conveys general information related to legal issues commonly encountered. Your access to and use of this website is subject to additional Terms and Conditions.

Local Professional? Generate new business today
Call 866-227-9356 or contact a sales rep

This site is part of the LawFirms.com Network
©2012 ExpertHub, wholly owned subsidiary of MoxyMedia, Inc.