Tax moves to make in November 2010

November 3, 2010

Did you survive Election Day 2010? Did you at least survive the post-election parties?

November_tax_moves_160 In case you went to bed early, we now have a new sheriff in town, or at least in the U.S. House of Representatives.

Republicans won enough seats — some pundits are projecting at least 50 when all the counting is done — to put Rep. John Boehner of Ohio in charge of the House next session.

Committee leadership also will change. Rep. Dave Camp of Michigan, now the ranking Republican on the House Ways and Means Committee, will be handling the gavel for the powerful tax-writing panel.

Until then, though, we have to get through the lame-duck session. In the next few weeks, Congress has vowed to deal with the expiring expiring Bush tax cuts, stimulus tax breaks that are only good for a couple more months, the already ended extenders and even the estate tax that’s scheduled to come back to life on Jan 1. 2011.

While we wait for that to happen you should check out the November Tax Moves that could help keep your 2010 bill as low as possible. The tips are over there in the left column; just scroll down a bit.

That should keep you occupied while I sort through yesterday’s results for a tax-related post-election blog item or two to post later today.

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We made it. Tax Day 2025 is finally over. For most of us. When the filing season started on Jan. 26, millions who were expecting refunds filed immediately. Most of us got our returns to the Internal Revenue Service by April 15. But plenty of taxpayers also got extensions. They are looking at an Oct. 15 filing deadline.

Those procrastinating filers aren’t a problem. In fact, the IRS appreciates taxpayers who take time to fill out their 1040 forms correctly. It also is grateful that tax submissions are spread out a bit, especially now that the IRS is a leaner agency. Processing returns is easier when they arrive throughout the year instead of in massive bunches.

But enough about Uncle Sam’s tax collection issues. The focus now is on all y’all who filed for extensions, giving you another six months to complete your return. Since your new mid-October due date will be here before you know it, let’s get started now on meeting it.

The ol’ blog is here to help you finish up your extended Form 1040. You can start with January’s tax tips page, which has links to the rest of the year’s tips by-month collections. You also can peruse various tax categories for more tailored advice by clicking on the More Tax Posts drop-down menu at the top of this (and every) page.

And to make sure you don’t miss your new filing deadline, the count-down clock below will let you know just how much time you to file by Oct. 15. At the latest.e. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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