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The additional exemption is not subject to the income-based phaseouts applicable to personal exemptions, and is allowed as a deduction in computing alternative minimum taxable income. Contributions of non-cash property, such as securities, are not qualified contributions. On line access to the 2007 Tax Notebook will be available soon. For individual income, partnership, and corporation income and franchise tax returns, a valid extension must be in place for the extension to apply. Eligible individuals may choose to calculate their earned income tax credit EITC or refundable child tax credit using their earned income from the prior tax year. For estimated payments and withholding tax, the extension applies to all returns due between Sept.
December Our 2007 tax organizers are now being prepared and will be mailed early in January 2008.
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