• Tax Center
  • Track Your Refund
  • Tax Due Dates
  • Tax Rates
  • Forms & Publications
  • Record Retention
  • State Tax Forms
  • 1040 Tax Calculator

The following tax center has been developed to help you quickly find information related to your particular area of interest, industry or profession on one page. We’re continually developing this section, so if you find that a particular tool and/or service could be beneficial to you and/or the general public, please kindly inform us and we’d be glad to review your request.

TaxServicesLaurelMarylandTrack Your Refund
Find out when you’ll receive your federal and state refund.

Tax Due Dates
Please note the following tax due dates on your calendar, and come back often to keep up with the changes.

Tax Rates
Tax rates change every year. Take a look at this year’s tax rates.

Tax Forms & Publications
Quickly view and print any IRS tax form or publication. Saves a trip to the post office.

Record Retention Guide
Use this guide to determine how long you need to keep your tax and other financial records.

State Tax Forms
Quickly print the tax forms you need from any State in the country.

1040 Tax Calculator
Enter your filing status, income, deductions and credits and we will estimate your total taxes.


VirginiaTaxServicesWhen will you receive your refund? The answer depends on how you filed your return. The IRS should issue your refund check within six to eight weeks of filing a paper return. If you chose to receive your refund through direct deposit, you should receive it within a week. If you use e-file, your refund should be issued between two and three weeks.

You can check on the status of your refund by clicking on the links below:



July 2016

 

July 11 Employees – who work for tips. If you received $20 or more in tips during June, report them to your employer. You can use Form 4070.

July 15 Employers – Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in June.

Employers – Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in June.

 

August 2016

 

August 1 Employers – Social Security, Medicare, and withheld income tax. File Form 941 for the second quarter of 2016. Deposit any undeposited tax. (If your tax liability is less than $2,500, you can pay it in full with a timely filed return.) If you deposited the tax for the quarter in full and on time, you have until August 10 to file the return.

Employers – Federal unemployment tax. Deposit the tax owed through June if more than $500.

Employers – If you maintain an employee benefit plan, such as a pension, profit sharing, or stock bonus plan, file Form 5500 or 5500-EZ for calendar year 2015. If you use a fiscal year as your plan year, file the form by the last day of the seventh month after the plan year ends.

Certain Small Employers – Deposit any undeposited tax if your tax liability is $2,500 or more for 2016 but less than $2,500 for the second quarter.

August 10 Employees – who work for tips. If you received $20 or more in tips during July, report them to your employer. You can use Form 4070.

Employers – Social Security, Medicare, and withheld income tax. File Form 941 for the second quarter of 2016. This due date only applies if you deposited the tax for the quarter timely, properly, and in full.

August 15 Employer – Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in July.

Employers – Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in July.

 

September 2016

 

September 12 Employees – who work for tips. If you received $20 or more in tips during August, report them to your employer. You can use Form 4070.

September 15 Individuals – Make a payment of your 2016 estimated tax if you are not paying your income tax for the year through withholding (or will not pay in enough tax that way). Use Form 1040-ES. This is the third installment date for estimated tax in 2016.

Employers – Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in August.

Employers – Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in August.

Corporations – File a 2015 calendar year income tax return (Form 1120) and pay any tax due. This due date applies only if you timely requested an automatic 6-month extension. Otherwise, see March 15.

S Corporations – File a 2015 calendar year income tax return (Form 1120S) and pay any tax due. This due date applies only if you timely requested an automatic 6-month extension. Otherwise, see March 15. Provide each shareholder with a copy of Schedule K-1 (Form 1120S) or a substitute Schedule K-1.

Partnerships – File a 2015 calendar year return (Form 1065). This due date applies only if you were given an additional 5-month extension. Otherwise see April 18. Provide each partner with a copy of Schedule K1 (Form 1065) or a substitute Schedule K1.

Corporations – Deposit the third installment of estimated income tax for 2016. A worksheet, Form 1120-W, is available to help you make an estimate of your tax for the year.

 

October 2016

 

October 11 Employees – who work for tips. If you received $20 or more in tips during September, report them to your employer. You can use Form 4070.

October 17 Individuals – If you have an automatic 6-month extension to file your income tax return for 2015, file Form 1040, 1040A, or 1040EZ and pay any tax, interest, and penalties due.

Employers – Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in September.

Employers – Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in September.

Electing Large Partnerships – File a 2015 calendar year return (Form 1065-B). This due date applies only if you were given an additional 6-month extension. See March 15 for the due date for furnishing or substituting the Schedules K-1 to the partners.

October 31 Employers – Social Security, Medicare, and withheld income tax. File form 941 for the third quarter of 2016. Deposit any undeposited tax. (If your tax liability is less than $2,500, you can pay it in full with a timely filed return.) If you deposited the tax for the quarter in full and on time, you have until November 10 to file the return.

Certain Small Employers – Deposit any undeposited tax if your tax liability is $2,500 or more for 2016 but less than $2,500 for the third quarter.

Employers – Federal Unemployment Tax. Deposit the tax owed through September if more than $500.

 

November 2016

 

November 10 Employees – who work for tips. If you received $20 or more in tips during October, report them to your employer. You can use Form 4070.

Employers – Social Security, Medicare, and withheld income tax. File Form 941 for the third quarter of 2016. This due date only applies if you deposited the tax for the quarter timely, properly, and in full.

November 15 Employers – Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in October.

Employers – Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in October.

 

December 2016

 

December 10 Employees – who work for tips. If you received $20 or more in tips during November, report them to your employer. You can use Form 4070.

December 15 Corporations – Deposit the fourth installment of estimated income tax for 2016. A worksheet, Form 1120-W, is available to help you estimate your tax for the year.

Employers – Social Security, Medicare, and withheld income tax. If the monthly deposit rule applies, deposit the tax for payments in November.

Employers – Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in November.



2016 Tax Rates – Single Taxpayers – Standard Deduction $6,300

10%

0 to $9,275

15%

$9,275 to $37,650

25%

$37,650 to $91,150

28%

$91,150 to $190,150

33%

$190,150 to $413,350

35%

$413,350 to $415,050

39.6%

Over $415,050

2016 Tax Rates – Married Jointly & Surviving Spouses – Standard Deduction $12,600

10%

0 to $18,550

15%

$18,550 to $75,300

25%

$75,300 to $151,900

28%

$151,900 to $231,450

33%

$231,450 to $413,350

35%

$413,350 to $466,950

39.6%

Over $466,950

2016 Tax Rates – Married Filing Separately – Standard Deduction $6,300

10%

0 to $9,275

15%

$9,275 to $37,650

25%

$37,650 to $75,950

28%

$75,950 to $115,725

33%

$115,725 to $206,675

35%

$206,675 to $233,475

39.6%

Over $233,475

2016 Tax Rates – Head of Household – Standard Deduction $9,300

10%

0 to $13,250

15%

$13,250 to $50,400

25%

$50,400 to $130,150

28%

$130,150 to $210,800

33%

$210,800 to $413,350

35%

$413,350 to $441,000

39.6%

Over $441,000

2016 Tax Rates – Estates & Trusts

15%

0 to $2,550

25%

$2,550 to $5,950

28%

$5,950 to $9,050

33%

$9,050 to $12,400

39.6%

Over $12,400

 

Social Security

2016 Tax Rates

Social Security Tax Rate: Employers

6.2%

Social Security Tax Rate: Employees

6.2%

Social Security Tax Rate: Self-Employed

12.4%

Maximum Taxable Earnings

$118,500

Medicare Base Salary

Unlimited

Medicare Tax Rate

1.45%

Additional Medicare Tax for income above $200,000 (single filers) or $250,000 (joint filers)

0.9%

Medicare tax on net investment income ($200,000 single filers, $250,000 joint filers)

3.8%

Miscellaneous

2016 Tax Rates

Personal Exemption $4,050

Business expensing limit: Cap on equipment purchases

$2,000,000

Business expensing limit: New and Used Equipment and Software

$500,000

Prior-year safe harbor for estimated taxes of higher-income

110% of your 2016 tax liability

Standard mileage rate for business driving

54 cents

Standard mileage rate for medical/moving driving

19 cents

Standard mileage rate for charitable driving

14 cents

Child Tax Credit

$1,000

Unearned income maximum for children under 19 before kiddie tax applies

$1,050

Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket

0%

Maximum capital gains tax rate for taxpayers above the 15% bracket but below the 39.6% bracket

15%

Maximum capital gains tax rate for taxpayers in the 39.6% bracket

20%

Capital gains tax rate for unrecaptured Sec. 1250 gains

25%

Capital gains tax rate on collectibles

28%

Maximum contribution for Traditional/Roth IRA

$5,500 if under age 50
$6,500 if 50 or older

Maximum employee contribution to SIMPLE IRA

$12,500 if under age 50
$15,500 if 50 or older

Maximum Contribution to SEP IRA

25% of eligible compensation
up to $53,000

401(k) maximum employee contribution limit

$18,000 if under age 50
$24,000 if 50 or older

Estate tax exemption

$5,450,000

Annual Exclusion for Gifts

$14,000

Education

2016 Tax Rates

American Opportunity Credit (Hope)

$2,500

Lifetime Learning Credit

$2,000

Student Loan Interest Deduction

$2,500

Coverdell Education Savings Contribution

$2,000

Standard Meal Rates for Family Child Care Providers for 2015 income tax returns

Continental U.S.

2015 Tax Rates

For each breakfast

$1.66

For each lunch or supper

$3.07

For each snack (up to 3 per day for each child)

$0.84

Alaska

2015 Tax Rates

For each breakfast

$2.66

For each lunch or supper

$4.99

For each snack (up to 3 per day for each child)

$1.37

Hawaii

2015 Tax Rates

For each breakfast

$1.94

For each lunch or supper

$3.60

For each snack (up to 3 per day for each child)

$0.99

 



 

Find IRS Tax Forms. Enter keywords here: 

View or Print State Tax Forms here.

 

The publications listed below are located on the IRS Web site and require Adobe Acrobat Reader to view. Visit the Adobe Web Site to install the latest version of Acrobat Reader. Click a publication to view it online.

 

Publication 1   Your Rights As a Taxpayer
Publication 3 Armed Forces’ Tax Guide
Publication 15 Circular E, Employer’s Tax Guide
Publication 15A Employer’s Supplemental Tax Guide
Publication 17 Your Federal Income Tax
Publication 51 Circular A, Agricultural Employer’s Tax Guide
Publication 54 Tax Guide for U.S. Citizens and Resident Aliens Abroad
Publication 80 Circular SS – Federal Tax Guide for Employers in the U.S. Virgin Islands, Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands
Publication 225 Farmer’s Tax Guide
Publication 334   Tax Guide for Small Business
Publication 463 Travel, Entertainment, Gift, and Car Expenses
Publication 501 Exemptions, Standard Deduction, and Filing Information
Publication 502 Medical and Dental Expenses
Publication 503 Child and Dependent Care Expenses
Publication 504 Divorced or Separated Individuals
Publication 505 Tax Withholding and Estimated Tax
Publication 509 Tax Calendars
Publication 510 Excise Taxes (Including Fuel Tax Credits and Refunds)
Publication 514 Foreign Tax Credit for Individuals
Publication 515 Withholding of Tax on Nonresident Aliens and Foreign Corporations
Publication 516 U.S. Government Civilian Employees Stationed Abroad
Publication 517 Social Security and Other Information for Members of the Clergy & Religious Workers
Publication 519 U.S. Tax Guide for Aliens
Publication 521 Moving Expenses
Publication 523 Selling Your Home
Publication 524 Credit for the Elderly or the Disabled
Publication 525 Taxable and Nontaxable Income
Publication 526 Charitable Contributions
Publication 527 Residential Rental Property (Including Rental of Vacation Homes)
Publication 529 Miscellaneous Deductions
Publication 530 Tax Information for First-Time Homeowners
Publication 531 Reporting Tip Income
Publication 535 Business Expenses
Publication 536 Net Operating Losses
Publication 537 Installment Sales
Publication 538 Accounting Periods and Methods
Publication 541 Partnerships
Publication 542 Corporations
Publication 544 Sales and other Dispositions of Assets
Publication 547 Casualties, Disasters, and Thefts
Publication 550 Investment Income and Expenses (Including Capital Gains and Losses and Mutual fund Distributions)
Publication 554 Older Americans’ Tax Guide
Publication 555 Community Property
Publication 556 Examination of Returns, Appeal Rights, and Claims for Refund
Publication 557 Tax-Exempt Status for Your Organization
Publication 559 Survivors, Executors and Administrators
Publication 560 Retirement Plans for Small Business
Publication 570   Tax Guide for Individuals With Income from U.S. Possessions
Publication 571 Tax-Sheltered Annuity Programs for Employees of Public Schools and Certain Tax-Exempt Organizations
Publication 575 Pension and Annuity Income
Publication 583 Starting a Business and Keeping Records
Publication 587 Business Use of Your Home (Including Use by Day-Care Providers)
Publication 590-A Contributions to Individual Retirement Arrangements (IRAs)
Publication 590-B Distributions to Individual Retirement Arrangements (IRAs)
Publication 595 Tax Highlights for Commercial Fishermen
Publication 596 Earned Income Credit
Publication 598 Tax on Unrelated Business Income of Exempt Organizations
Publication 721 Tax Guide to U.S. Civil Service Retirement Benefits
Publication 901 U.S. Tax Treaties
Publication 907 Tax Highlights for Persons With Disabilities
Form 911 Request for Taxpayer Advocate Service Assistance
Publication 915 Social Security and Equivalent Railroad Retirement Benefits
Publication 925 Passive Activity and At-Risk Rules
Publication 926 Household Employers Tax Guide
Publication 929 Tax Rules for Children and Dependents
Publication 936 Home Mortgage Interest Deduction
Publication 939 General Rule for Pensions and Annuities
Publication 946 How to Depreciate Property
Publication 954 Tax Incentives for Empowerment Zones and Other Distressed Communities
Publication 957 Reporting Back Pay and Special Wage Payments to the Social Security Administration
Form 8839 Qualified Adoption Expenses
Publication 969 Health Savings Accounts and Other Tax-Favored Health Plans
Publication 970 Tax Benefits for Education
Publication 1212 Guide to Original Issue Discount (OID) Instruments
Publication 1345 Handbook for Authorized IRS e-file Providers of Individual Income Tax Returns
Publication 1544 Reporting Cash Payments of Over $10,000
Publication 4557 Safeguarding Taxpayer Data – A Guide for Your Business


SalvationTaxServicesSecurityStoring tax records: How long is long enough?

Federal law requires you to maintain copies of your tax returns and supporting documents for three years. This is called the “three-year law” and leads many people to believe they’re safe provided they retain their documents for this period of time.

However, if the IRS believes you have significantly underreported your income (by 25 percent or more), or believes there may be indication of fraud, it may go back six years in an audit. To be safe, use the following guidelines.

 

Business Records To Keep… Personal Records To Keep…
        1 Year         1 Year
        3 Years         3 Years
        6 Years         6 Years
        Forever         Forever
 

Create a Backup Set of Records and Store Them Electronically. Keeping a backup set of records — including, for example, bank statements, tax returns, insurance policies, etc. — is easier than ever now that many financial institutions provide statements and documents electronically, and much financial information is available on the Internet.

Even if the original records are provided only on paper, they can be scanned and converted to a digital format. Once the documents are in electronic form, taxpayers can download them to a backup storage device, such as an external hard drive, or burn them onto a CD or DVD (don’t forget to label it).

You might also consider online backup, which is the only way to ensure that data is fully protected. With online backup, files are stored in another region of the country, so that if a hurricane or other natural disaster occurs, documents remain safe.

 

Caution: Identity theft is a serious threat in today’s world, and it is important to take every precaution to avoid it. After it is no longer necessary to retain your tax records, financial statements, or any other documents with your personal information, you should dispose of these records by shredding them and not disposing of them by merely throwing them away in the trash.

 

Business Documents To Keep For One Year

  • Correspondence with Customers and Vendors
  • Duplicate Deposit Slips
  • Purchase Orders (other than Purchasing Department copy)
  • Receiving Sheets
  • Requisitions
  • Stenographer’s Notebooks
  • Stockroom Withdrawal Forms

Business Documents To Keep For Three Years

  • Employee Personnel Records (after termination)
  • Employment Applications
  • Expired Insurance Policies
  • General Correspondence
  • Internal Audit Reports
  • Internal Reports
  • Petty Cash Vouchers
  • Physical Inventory Tags
  • Savings Bond Registration Records of Employees
  • Time Cards For Hourly Employees

Business Documents To Keep For Six Years

  • Accident Reports, Claims
  • Accounts Payable Ledgers and Schedules
  • Accounts Receivable Ledgers and Schedules
  • Bank Statements and Reconciliations
  • Cancelled Checks
  • Cancelled Stock and Bond Certificates
  • Employment Tax Records
  • Expense Analysis and Expense Distribution Schedules
  • Expired Contracts, Leases
  • Expired Option Records
  • Inventories of Products, Materials, Supplies
  • Invoices to Customers
  • Notes Receivable Ledgers, Schedules
  • Payroll Records and Summaries, including payment to pensioners
  • Plant Cost Ledgers
  • Purchasing Department Copies of Purchase Orders
  • Sales Records
  • Subsidiary Ledgers
  • Time Books
  • Travel and Entertainment Records
  • Vouchers for Payments to Vendors, Employees, etc.
  • Voucher Register, Schedules

Business Records To Keep Forever

While federal guidelines do not require you to keep tax records “forever,” in many cases there will be other reasons you’ll want to retain these documents indefinitely.

  • Audit Reports from CPAs/Accountants
  • Cancelled Checks for Important Payments (especially tax payments)
  • Cash Books, Charts of Accounts
  • Contracts, Leases Currently in Effect
  • Corporate Documents (incorporation, charter, by-laws, etc.)
  • Documents substantiating fixed asset additions
  • Deeds
  • Depreciation Schedules
  • Financial Statements (Year End)
  • General and Private Ledgers, Year End Trial Balances
  • Insurance Records, Current Accident Reports, Claims, Policies
  • Investment Trade Confirmations
  • IRS Revenue Agents’ Reports
  • Journals
  • Legal Records, Correspondence and Other Important Matters
  • Minute Books of Directors and Stockholders
  • Mortgages, Bills of Sale
  • Property Appraisals by Outside Appraisers
  • Property Records
  • Retirement and Pension Records
  • Tax Returns and Worksheets
  • Trademark and Patent Registrations

Personal Documents To Keep For One Year

  • Bank Statements
  • Paycheck Stubs (reconcile with W-2)
  • Canceled checks
  • Monthly and quarterly mutual fund and retirement contribution statements (reconcile with year end statement)

Personal Documents To Keep For Three Years

  • Credit Card Statements
  • Medical Bills (in case of insurance disputes) 
  • Utility Records
  • Expired Insurance Policies 

Personal Documents To Keep For Six Years

  • Supporting Documents For Tax Returns
  • Accident Reports and Claims
  • Medical Bills (if tax-related)
  • Property Records / Improvement Receipts
  • Sales Receipts
  • Wage Garnishments
  • Other Tax-Related Bills

Personal Records To Keep Forever

  • CPA Audit Reports
  • Legal Records
  • Important Correspondence
  • Income Tax Returns
  • Income Tax Payment Checks
  • Investment Trade Confirmations
  • Retirement and Pension Records

Special Circumstances

  • Car Records (keep until the car is sold)
  • Credit Card Receipts (keep with your credit card statement)
  • Insurance Policies (keep for the life of the policy)
  • Mortgages / Deeds / Leases (keep 6 years beyond the agreement)
  • Pay Stubs (keep until reconciled with your W-2)
  • Property Records / improvement receipts (keep until property sold)
  • Sales Receipts (keep for life of the warranty)
  • Stock and Bond Records (keep for 6 years beyond selling)
  • Warranties and Instructions (keep for the life of the product)
  • Other Bills (keep until payment is verified on the next bill)
  • Depreciation Schedules and Other Capital Asset Records (keep for 3 years after the tax life of the asset)






1040TaxCalculator