Tax deadline: one week away

For those filed Form 4868 Application for Automatic Extension of Time To File U.S. Individual Income Tax Return, now is the time to make plans to finalize your tax return. The due date is October 17, 2011.

Federal Income Tax Brackets from 2009-2012

2012 Federal Income Tax Brackets

Income Tax	Single		Married Filing Jointly / Qualifying Widower		Married Filing Separately		Head of Household		Long-Term Capital Gains and Qualified Dividends
Rate	over	up to	over	up to	over	up to	over	up to	Rate
10%	0	8,700	0	17,400	0	8,700	0	12,400	0%
15%	8,700	35,350	17,400	70,700	8,700	35,350	12,400	47,350	0%
25%	35,350	85,650	70,700	142,700	35,350	71,350	47,350	122,300	15%
28%	85,650	178,650	142,700	217,450	71,350	108,725	122,300	198,050	15%
33%	178,650	388,350	217,450	388,350	108,725	194,175	198,050	388,350	15%
35%	388,350		388,350		194,175		388,350		15%

Tax Refund Withholdings and Offsets

If you owe money because of certain delinquent debts, the IRS or the Department of Treasury's Financial Management Service (FMS), which issues IRS tax refunds, can offset or reduce your federal tax refund or withhold the entire amount to satisfy the debt.

FMS
Outstanding debts include past–due child support, federal agency nontax debts such as student loans, or state income tax obligations.

IRS Increases Mileage Rate to 55.5 Cents per Mile

The IRS today announced the increase of the standard mileage rates for the last six months of 2011 due to the increase in gasoline prices - action similar to 2008, the last time gasoline reached $4 per gallon.

The standard mileage rates are the following:

	Business	Medical/Moving	Charitable
July 1, 2011 - Dec. 31, 2011	55.5	23.5	14
Jan. 1, 2011 - June 30, 2011	51	19	14
2010	50	16.5	14
2009	55	24	14
July 1, 2008 - Dec. 31, 2008	58.5	27	14
Jan. 1, 2008 - June 30, 2008	50.5	19	14

Where's My Refund?

Taxpayers can check the status of their tax refund 24 hours a day, 7 days a week, worldwide, with a web browser and a few pieces of information.

• Navigate to IRS.gov and click the Where My Refund button,
• Next enter the social security number of the primary taxpayer. This information can be pulled from the upper right corner of Form 1040.
• Select the filing status from Boxes 1 through 5
• Finally, enter the exact amount of your refund from line 74a of Form 1040.

Generally, if the taxpayer e-filed, the refund information will available 72 hours after the acknowledgment saying the IRS received the tax return – allow three to four weeks if filing a paper tax return.