If your salary includes tips, then you need to know the following information from Liberty Tax Service, Una Familia Sin Fronteras:

1. Tips are taxable: The IRS states the tips are taxable and qualify for Federal Income, Social Security and Medicare taxes.  The IRS does not consider a “tip” as just cash. Instead, non-cash items such as any tickets, passes, electronics, watches, or other items – just about any item which carries a value, will also be considered as a form of income and will be subject to a tax.

2. Include all tips on your tax return:  All tips you receive, whether directly in cash, by credit card, or tips received by the tip-splitting arrangement at your job, should be claimed as gross income.

3. Report tips to your employer: Your employer is supposed to withhold Federal Income, Social Security and Medicare taxes automatically from your tips if they amount to $20 or more in any month.  Always report all your tips to your employer.

4. Keep a daily log of your tips: If you haven’t already done so you should begin keeping a daily log of you tips. The IRS has gone a step further to assist you in keeping that daily log by creating IRS Publication 1244, the Employee’s Daily Record of Tips and Report to Employer, to help you record your tips daily.

Source: irs.gov, Tax Tips 2012-14, Liberty Tax Service ~ Una Familia Sin Fronteras

In December, 2011, the Plaza Comunitaria of the Mexican Consulate held a wonderful graduation ceremony for the 65 students that had finished with great efforts the different courses that are offered every year: GED, Advanced computer, English, and a 15-hour tax course offered by Liberty Tax Service at no charge.

Liberty Tax Service ~ Una Familia Sin Fronteras ~ received recognition for its support of the Hispanic community in San Antonio, as well as its support of the education of the less fortunate. The Director of Diversity Programs, Martee Pierson, received a beautiful plaque from the Mexican Consulate and the Secretary of Public Relations of Mexico.

Liberty Tax Service and the Mexican Consulate in San Antonio have great plans for continued support and education of the Hispanic community in 2012.

See Martee Pierson’s exclusive interview with LatinVision at:

www.latinvision.com/leaders

www.latinvision.com/lideres

Today, the White House announced Summer Jobs+, a new call to action for businesses, non-profits, and government to work together to provide pathways to employment for low-income and disconnected youth in the summer of 2012. The President proposed $1.5 billion for high-impact summer jobs and year-round employment for low-income youth ages 16-24 in the American Jobs Act as part of the Pathways Back to Work fund. When Congress failed to act, the Federal government and private sector came together to commit to creating nearly 180,000 employment opportunities for low-income youth in the summer of 2012, with a goal of reaching 250,000 employment opportunities by the start of summer, at least 100,000 of which will be placements in paid jobs and internships. Today’s announcement is the latest in a series of executive actions the Obama Administration is taking to strengthen the economy and move the country forward because we can’t wait for Congress to act.

“America’s young people face record unemployment, and we need to do everything we can to make sure they’ve got the opportunity to earn the skills and a work ethic that come with a job. It’s important for their future, and for America’s. That’s why I proposed a summer jobs program for youth in the American Jobs Act – a plan that Congress failed to pass. America’s youth can’t wait for Congress to act. This is an all-hands-on-deck moment. That’s why today, we’re launching Summer Jobs+, a joint initiative that challenges business leaders and communities to join my Administration in providing hundreds of thousands of summer jobs for America’s youth,” said President Obama.

“While young people who are currently disconnected from school or work are not contributing to our economy, we see these young people as ‘Opportunity Youth’ – because of the untapped potential they bring to the Nation. Today, the White House challenged all sectors to go all-in and work together in creating pathways to youth employment. Summer jobs are an important step – and to stay on the path to success, Opportunity Youth need social supports and access to relevant education, mentoring and training. This spring, the White House Council for Community Solutions will participate in community discussions nationwide to learn from best efforts by youth, families, government, business, educators, and nonprofits to connect young people to meaningful career opportunities,” said Patty Stonesifer,Chair of the White House Council for Community Solutions (WHCCS).

The Administration also announced its intention to launch, within 60 days, the Summer Jobs+ Bank, a one-stop search tool for youth to access postings for any participating employers seeking to reach them where they are online. The search tool builds upon an open standard, the JobPosting schema endorsed by schema.org in November, 2011 in support of the Veterans Jobs Bank,and will include technical and promotional support by Google, Internships.com, AfterCollege, LinkedIn and Facebook. Today the Corporation for National and Community Service released a new toolkit created in collaboration with the WHCCS and employers to support businesses and communities in their efforts to help young people become productive citizens and connect to greater opportunities, both of which are critical for the long-term strength and competiveness of the Nation.

Today’s announcements build on previous commitments from the Obama Administration to support summer youth employment. In 2009 and 2010, communities across the country used Recovery Act funds to directly support summer work opportunities for over 367,000 young people. In the summer of 2011, the Department of Labor brought together private sector commitments to employ over 80,000 youth.

A new analysis released today by the WHCCS showed that in 2011 alone, taxpayers shouldered more than $93 billion in direct costs and lost tax revenue to support young adults disconnected from school and work. Over the lifetime of these young people, taxpayers will assume a $1.6 trillion burden to meet the increased needs and lost revenue from this group. Read the full analysis here.

Businesses, non-profits and government can accept the President’s call-to-action by directly hiring youth as well as providing corporate mentorship experiences, internship, and other opportunities that connect young people to jobs. The three key ways organizations can engage are:

Learn and Earn: Provide youth jobs for the summer of 2012 in the form of paid internships and/or permanent positions that provide on-the-job training. Of the roughly 180,000 job commitments announced today more than 70,000 are Learn and Earn commitments

Life Skills: Provide youth work-related soft skills, such as communication, time management and teamwork, through coursework and/or experience. This includes resume writing or interview workshops and mentorship programs.

Work Skills: Provide youth insight into the world of work to prepare for employment. This includes job shadow days and internships. More information about this initiative can be found at dol.gov/summerjobs
As the nation continues to recover from the deepest recession since the Great Depression, American youth are struggling to get the work experience they need for jobs of the future.

According to the Department of Labor’s Bureau of Labor Statistics (Current Population Survey):

• 48.8 percent of youth between the ages of 16-24 were employed in July, the month when youth employment usually peaks. This is significantly lower than the 59.2 percent of youth who were employed five years ago and 63.3 percent of youth who were employed 10 years ago.

• Minority youth had an especially difficult time finding employment this past summer. Only 34.6 percent of African American youth and 42.9 percent of Hispanic youth had a job this past July.

In  addition to the organizations making commitments for the summer of 2012, the Department of Labor will honor UPS, We Are Golf, Wells Fargo, and Jamba Juice for their strong participation in their 2011 summer jobs effort and the Corporation for National and Community Service will honor Bank of America, State Street, Viacom, Deloitte, and JP Morgan for their leadership in corporate mentoring over the past year.

The Director of Diversity Programs, Martee Saldaña-Pierson, will be speaking tomorrow at the Marketing to Latinos: Banking and Finance Conference. All can see her LIVE tomorrow just press the image located above. The Conference will begin Thursday, 1st of December at 8: 30 AM.

La Directora de Programas de Diversidad, Martee Saldaña-Pierson, estará hablando mañana en la conferencia de Mercadotecnia para Latinos: Bancos y Finanzas. Todos los pueden ver en VIVO mañana solo presionen el imagen localizado arriba. La conferencia empezará Jueves 1º de Diciembre a las 8:30 AM.

The Center for Responsible Lending released a study today that documents a trend in American foreclosures that is startling, yet not surprising. The study, “Lost Ground, 2011: Disparities in Mortgage Lending and Foreclosures,” co-authored with the Center for Community Capital at the University of North Carolina, Chapel Hill, presents data in support of the claim that African Americans and Latinos are “more than twice as likely to lose their home as white households.” Beyond that, the study suggests that the foreclosure crisis isn’t even close to being over. Read more…

The future of this country takes on desperate importance with each passing day given the ongoing debt debate, the continual low educational rankings of our school children compared to their global counterparts and the rising costs of higher education.

While some would debate the value of a college degree these days, there’s no doubt that in the long run a degree is worth the investment. Among immigrant-origin youth — children who are either immigrants themselves or the US-born offspring of immigrants — the importance of having higher education is understood, though not always achievable. Read more…

The Chicago-area Latino population contributes more in local taxes than it uses in government services, providing a net gain in public revenue for Chicago and its suburbs, a report released yesterday finds. The research also highlights Latinos’ increasingly large impact in the local economy and workforce.

According to the authors of the report, Latinos account for more than $5 billion in direct and indirect local taxes annually. This contribution is offset by $3.9 billion in costs for public services such as education, health care, and public safety, resulting in a net gain to public coffers of nearly $1.2 billion after rounding. Read more…

Hispanic Services Seal of Excellence

Liberty Tax Service has created a one-of-a-kind foundation and educational initiative — Una Familia sin Fronteras (A Family without Boundaries). They are the first private company to have been accepted as a partner with the White House Initiative on Education Excellence for Hispanics. They are very proud to be working hand-in-hand with the White House team. Liberty’s Una Familia sin Fronteras Initiative is currently working with 26 School Districts nationwide, IME, Mexican Consulates and Plazas Comunitarias across the nation.

Read more…

The National Minority Franchising Initiative recently completed its fourth annual survey to determine the progress of minorities within the franchising community. The good news is that minorities continue to make exceptional progress in increasing their representation in this arena. The bad news is that there is still a disparity, though dwindling, between minority ownership (generally put at 15+%) and their representation within the population at large – approximately 28%. Progress is slower than most would wish, but clearly on the right track.

This progress is due to two primary factors: 1) the strong work ethic, willingness to play by the rules, entrepreneurial instincts, and mental toughness of minorities when times get tough (like today!) and 2) the significant marketing efforts implemented by franchisors to attract and support minorities within their systems. Franchisors clearly realize that their brands are not properly represented in underserved communities and are making significant efforts to close that financial gap.

The National Minority Franchising Initiative received over 450 responses to this year’s survey. The questionnaire asked franchisors to list the minority (African-American, Asian-American, Hispanic, South Indian, etc.) participation among their existing franchised and company-owned units, as well as the minority representation among senior management which is defined as management with an annual salary in excess of $60,000. The companies that scored the highest are listed below. These ten franchisors have clearly been exceptionally successful in their efforts to recruit minorities.

Read more…

Summary of Key Findings

The U.S. Census Bureau announced today that in 2010, median household income declined, the poverty rate increased and the percentage without health insurance coverage was not statistically different from the previous year.

Real median household income in the United States in 2010 was $49,445, a 2.3 percent decline from the 2009 median. Read more…

Adoption Gap Remains Along Demographic Lines; Socio-Economic Status Does Not Explain the Entire Gap

WASHINGTON – The Department of Commerce’s Economics and Statistics Administration (ESA) and National Telecommunications and Information Administration (NTIA) today released a report, “Exploring the Digital Nation,” that analyzes broadband Internet adoption in the United States. Overall, approximately seven out of 10 households in the United States subscribe to broadband service. The report finds a strong correlation between broadband adoption and socio-economic factors, such as income and education, but says these differences do not explain the entire broadband adoption gap that exists along racial, ethnic and geographic lines. Even after accounting for socio-economic differences, certain minority and rural households still lag in broadband adoption.

The report analyzes data collected through an Internet use supplement to the Current Population Survey (CPS) of about 54,300 households conducted by the U.S. Census Bureau in October 2010. Earlier this year, NTIA released initial findings from the survey, showing that while virtually all demographic groups have increased adoption of broadband Internet at home since the prior year, historic disparities among demographic groups remain. Today’s report presents broadband adoption statistics after adjusting for various socio-economic differences.

“Closing the broadband adoption gap is a priority because Americans increasingly need 21st century skills to succeed in today’s economy. Today’s report provides a comprehensive, data-driven analysis of broadband adoption that will inform efforts to close the gap and promote America’s competiveness in the global economy,” said Acting Deputy Commerce Secretary Rebecca Blank. Read more…

In September 1968, Congress authorized President Lyndon B. Johnson to proclaim National Hispanic Heritage Week, which was observed during the week that included Sept. 15 and Sept. 16. The observance was expanded in 1988 by Congress to a monthlong celebration (Sept. 15 – Oct. 15), effective the following year. America celebrates the culture and traditions of those who trace their roots to Spain, Mexico and the Spanish-speaking nations of Central America, South America and the Caribbean.

Sept. 15 was chosen as the starting point for the celebration because it is the anniversary of independence of five Latin American countries: Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua. In addition, Mexico and Chile celebrate their independence days on Sept. 16 and Sept. 18, respectively.

Source: Hispanicad.com, 9/5/2011

La iniciativa educativa de Liberty Tax Service expande su iniciativa con alcance educativo, proporcionando a inmigrantes hispanos de primera generación herramientas para lograr un éxito más grande.

Liberty Tax Service anunció que hasta el 31 de julio de 2011, más de 400 alianzas han sido establecidas mediante su iniciativa Una Familia sin Fronteras, iniciativa educativa hispana y Fundación con organizaciones privadas, públicas y organizaciones sin fines de lucro. El objetivo principal de estas alianzas es el de desarrollar programas de valor dirigidos a padres Hispanos, para que la asistencia y el interés de estos programas educativos puedan expandirse a estas organizaciones, y para que las cabezas del hogar no familiarizadas con el sistema fiscal y financiero de los EE. UU. puedan aprender sobre los valores del sistema económico en los EE. UU. e integrarse de mejor manera a nuestra economía convencional.
Read more…

According to a new U.S. Census Bureau study, education levels had more effect on earnings over a 40-year span in the workforce than any other demographic factor, such as gender, race and Hispanic origin. For example, a worker with a professional degree is expected to make more than a worker with a eighth grade education or lower.

Some groups, such as non-Hispanic white males, Asian males and Asian females, benefit more from higher levels of education than other groups over a 40-year career for those with a professional degree. White males with a professional degree make more than double (about $2.4 million more) than that of Hispanic females with the same level of education. Read more…

Population

50.5 million
The Hispanic population of the United States as of April 1, 2010, making people of Hispanic origin the nation’s largest ethnic or race minority. Hispanics constituted 16.3 percent of the nation’s total population. In addition, there are 3.7 million residents of Puerto Rico, a U.S. territory.
Source: American FactFinder: United States DP-1 and
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The number of Hispanic-serving institutions, or HSIs, nationwide has increased by 24 percent since 2004 and could grow by another 40 percent if “emerging” HSIs in 18 states and Puerto Rico continue to grow, a new study says.

The data from Washington, D.C.-based Excelencia in Education found 293 nonprofit higher education institutions in 2010 with 25 percent or more total undergraduate Hispanic enrollment, qualifying them as HSIs. Another 204 higher education institutions are “emerging HSIs,” with undergraduate Hispanic enrollment that soon may reach the 25 percent threshold. Read more…

For a fifth time, Liberty Tax Service has been named on the elite list of “Best Franchises for Hispanics” published by Poder 360, formerly Hispanic Enterprise magazine. The rankings were based on surveys conducted with over 3,500 franchisors to determine the number of Hispanic-owned franchise offices and top managers who are Hispanic. Read more…

Por quinta vez, Liberty Tax Service ha sido nombrado en la lista elite de “Las Mejores Franquicias para Hispanos” publicada por Poder 360, previamente conocida como la revista Hispanic Enterprise. Las clasificaciones fueron basadas en encuestas realizadas a más de 3,500 franquiciados para determinar el número de oficinas de franquicias cuyos propietarios o administradores son Hispanos. Read more…

Liberty Tax Service broadens reach of educational outreach initiative, providing 1st-generation Hispanic immigrants with tools to achieve greater success

Liberty Tax Service announced that as of July 31, 2011, over 400 alliances have been established through their Una Familia Sin Fronteras (A Family Without Boundaries) Hispanic educational initiative and Foundation with private, public and non-profit organizations. The primary goal of these alliances is to develop programs of value to a broad Hispanic parent base, so that the attendance and interest in educational programs can expand for the organizations, and so that heads of households unfamiliar with the US fiscal and financial systems can learn the values of the economic system in the U.S. and better enter into our mainstream economy. Read more…

96% of Latinos would like to see their kids earn a college degree

When it comes to their children’s education, Latino voters have clear and high aspirations: a new poll revealed that an overwhelming 96%—almost all—would like to see their kids earn a college degree, whether it is a bachelor’s, master’s or professional degree. Read more…

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Liberty Tax Service will provide fiscal and financial education programs to extension school students at this prestigious educational institution in Spanish and in English.

Liberty Tax Service announced that the existing and successful educational alliance with the University Nacional Autónoma de México (UNAM) in San Antonio has recently expanded to the Chicago Campus. Local fiscal and financial experts from Liberty Tax Service’s unique educational outreach initiative, Una Familia Sin Fronteras, will offer financial and fiscal education seminars free of charge to UNAM’s students throughout the year. Read more…

Liberty Tax Service otorgará programas educativos fiscales y financieros en inglés y español a estudiantes de educación continua de esta prestigiosa institución educativa.

Liberty Tax Service anunció que la exitosa alianza educativa existente con la Universidad Autónoma de México (UNAM) en San Antonio recientemente se ha expandido al campus de Chicago. Los expertos locales de Una Familia Sin Fronteras, la iniciativa única y educativa de Liberty Tax Service, ofrecerá seminarios educativos fiscales y financieros sin ningún costo a los estudiantes de la UNAM durante el año. Read more…

There are a few extra expenses we may have on these beautiful long, lazy and sunny days of summer. One such item in particular is summer day camps. However, we at Liberty Tax Service want to remind you that the IRS has particularly good news for parents. The IRS states that the extra expenses may help you qualify for a tax credit. Read more…

Liberty Tax Service otorga asistencia gratuita en inglés y español para preparar los formularios para las familias y estudiantes interesados en aplicar para la Ayuda Federal para Estudiantes.

(Virginia Beach, VA) – Liberty Tax Service, la compañía de preparación de impuestos de mayor crecimiento en la historia de la industria, esta ayudando a estudiantes y familias en comunidades de bajos recursos alrededor de los Estados Unidos a alcanzar el sueño de una educación avanzada al crear conciencia del programa de Ayuda Federal para Estudiantes y ofreciendo asistencia GRATUITA en todas sus oficinas a nivel nacional para presentar las aplicaciones. Read more…

Liberty Tax Service provides FREE forms completion assistance in English and Spanish to families and students interested in applying for Federal Student Aid.

(Virginia Beach, VA) – Liberty Tax Service, the fastest-growing retail tax preparation company in the industry, is helping students and families in underserved communities throughout the United States realize their dream of advanced education by creating awareness of the Financial Student Aid program and offering FREE assistance with completing these applications through their offices nationwide.

In early 2010, Liberty’s Hispanic Programs Team met with the White House team leading the Initiative for Educational Excellence among Hispanic Americans and learned that there is a wide gap in awareness of the availability of Federal Student Aid for postsecondary education among households in minority communities throughout the United States. Read more…

School’s out and many students will begin their summer jobs. Liberty Tax Service reminds students that your employer must withhold taxes so not all the money you earn will make it into your pocket.

Liberty Tax Service wants students to be aware of six things when they start a summer job: Read more…

New Report on Comprehensive National and State Performance Data Shows Hispanic-White Achievement Gap Unchanged Over Last Two Decades

WASHINGTON – U.S. Education Secretary Arne Duncan today urged parents, educators and school leaders at every level of government to make Hispanic educational excellence a national priority. Secretary Duncan’s challenge follows the release of a sobering new report on the Hispanic achievement gap by the National Center for Education Statistics (NCES), the U.S. Department of Education’s statistical center. Read more…

The Internal Revenue Service today announced an increase in the optional standard mileage rates for the final six months of 2011. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes. The rate will increase to 55.5 cents a mile for all business miles driven from July 1, 2011, through Dec. 31, 2011. This is an increase of 4.5 cents from the 51 cent rate in effect for the first six months of 2011, as set forth in Revenue Procedure 2010-51. In recognition of recent gasoline price increases, the IRS made this special adjustment for the final months of 2011. The IRS normally updates the mileage rates once a year in the fall for the next calendar year. Read more…

The Internal Revenue Service today announced an increase in the optional standard mileage rates for the final six months of 2011. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes. The rate will increase to 55.5 cents a mile for all business miles driven from July 1, 2011, through Dec. 31, 2011. This is an increase of 4.5 cents from the 51 cent rate in effect for the first six months of 2011, as set forth in Revenue Procedure 2010-51. In recognition of recent gasoline price increases, the IRS made this special adjustment for the final months of 2011. The IRS normally updates the mileage rates once a year in the fall for the next calendar year. Read more…

(Norfolk, VA) On April 21, 2011, the Urban League of Hampton Roads, Inc., continuing the work of community empowerment, held their 21st Annual Whitney M. Young, Jr., dinner at the Renaissance Portsmouth Hotel. This dinner is the signature event of the Urban League of Hampton Roads, and honors the life and legacy of Whitney M. Young, Jr., the former executive director of the National Urban League who brought the League into the civil rights arena during the 1960s. The theme for the 2011 dinner was “Faces of Change”, honoring five individuals or corporations in the community who have made outstanding contributions to enhancing diversity, civic engagement and leadership within the region.
Read more…

(Norfolk, VA) El 21 de abril de 2011, la Liga Urbana de Hampton Roads, Inc., continuando la labor de fortalecimiento de la comunidad, celebró su 21ra cena Anual de Whitney M. Young, Jr., en el Hotel Renaissance Portsmouth. Esta cena es el evento principal de la Liga Urbana de Hampton Roads, y honra la vida y el legado de Whitney M. Young, Jr., el ex director ejecutivo de la Liga Nacional Urbana, y quien llevó a la Liga a participar en el campo de los derechos civiles durante la década de los 1960s. El tema para la cena de 2011 fue “Las caras del cambio”, en honor a las cinco personas o corporaciones en la comunidad que han hecho contribuciones sobresalientes para mejorar la diversidad, la participación cívica y el liderazgo en la región. Read more…

Associated Press MIAMI — A higher percentage of young Hispanic adults is finishing high school, and the number attending a two-year college has nearly doubled over the last decade, according to Census data released Wednesday.

The percentage of Hispanic 18- to 24-year-olds who are not enrolled in high school and don’t have an equivalent degree was 22 percent in 2008, down from 34 percent in 1998.

Meanwhile, the number attending a 2-year college increased 85 percent, from 540,000 in 2000 to 1 million in 2008.

“It’s an amazing level of growth,” said Kurt Bauman, the chief of the Census Bureau’s education branch. Read more…

Liberty Tax Service will provide fiscal and financial education programs to parents of elementary, middle and high school children in underserved communities throughout the Kansas City area.

Liberty Tax Service announced that local offices in the Kansas City area have formed an educational alliance with the University of Missouri – Kansas City supporting the University’s outreach program for parents of elementary school children. Local fiscal and financial experts from Liberty Tax Service’s unique educational outreach initiative, Una Familia Sin Fronteras, will offer financial and fiscal education seminars free-of-charge to parents throughout the year. Programs will be tailored to answer the participants’ primary areas of interest, including small business start-up procedures and first homeowner information. The majority of programs will be offered in Spanish, since this educational outreach program serves many 1st-generation Hispanic immigrant families, but they will also be available in English for the non-Spanish speaking communities. Many of these seminars also qualify for college credits with the University of Phoenix, so participants can enjoy the excitement of completing a college accredited course! Read more…

Liberty Tax Service otorgará programas de educación fiscal y financiera a los padres de los niños de primaria, secundaria y bachillerato en comunidades de bajos recursos alrededor de Kansas City.

Liberty Tax Service anunció que las oficinas locales de Kansas City han formado una alianza educativa con la Universidad de Missouri – Kansas City apoyando los programas de la Universidad que están disponibles para los padres de los niños que asisten a la escuela primaria. Los expertos fiscales y financieros del área local de Liberty Tax Service que forman parte de la iniciativa educativa, Una Familia Sin Fronteras, ofrecerán seminarios fiscales y financieros gratuitos a los padres durante el año. Los seminarios serán diseñados según la necesidad e interés de los participantes, incluyendo pequeños negocios y los procedimientos para un inicio exitoso e información para nuevos propietarios de vivienda. La mayoría de los seminarios serán ofrecidos en español, siendo que este programa educativo está al alcance de muchas familias de inmigrantes hispanos de primera generación, pero estos también estarán disponibles en inglés para las comunidades que no hablan español. ¡Muchos de estos seminarios también califican para créditos universitarios de la Universidad de Phoenix, así que los participantes pueden disfrutar y entusiasmarse por completar un seminario con créditos universitarios! Read more…

By John Hewitt, Founder & CEO of Liberty Tax Service
[First in a series of articles on managerial and company building successes by John Hewitt]

Is success about thought or action – or both? Is it instinctive or can it be learned?

For many business leaders, me included, this is a conundrum that can be argued successfully on either side. However, the one thing I’m sure of is that in order for a small company to stand shoulder-to-shoulder with a more mature competitor, it takes a great deal of leadership foresight, tenacious imagination, a little luck and a lot of hard work by everyone involved. Most importantly, for a “David-sized” company to become or overcome a “Goliath”, it takes careful implementation of a successful formula. This is where the power of organizational tuning steps in. Read more…

By John T. Hewitt, Founder & CEO of Liberty Tax Service
[Second in a series of articles on managerial and company building successes by John Hewitt.]

Wouldn’t it be great if businesses could just create the right plan once and never have to deal with it again? And wouldn’t it be great if the moon really was made of cheese?

Unfortunately, neither one of these fantasies exist. Transformation and evolution of thought and business practices are a reality we all need to accept. The real question is how to successfully transform our businesses to keep up with economic stresses without giving up our competitive advantage. Read more…

By John T. Hewitt, Founder & CEO of Liberty Tax Service
[Third in a series of articles on managerial and company building successes by John Hewitt.]

We all know that change is inevitable. And we all know that human nature has a tendency to fight it. Status quo can be so comforting; and understandably since any change intimates having to deal with an “unknown”. While it does indeed take a certain type of personality to feel comfortable with change, the reality is that as a company leader, you do not have to do this alone. Speaking from experience, having led two successful franchise businesses, I can attest to the fact that successful corporate transformation must start first from within, before it can be appreciated by the market at large. Read more…

By John T. Hewitt, Founder & CEO of Liberty Tax Service
[Fourth in a series of articles on managerial and company building successes by John Hewitt.]

Diversity in the workplace has been discussed by every business leader at some time or another, and certainly, it has long been a topic for authors and politicians. But, as much as it is bantered about, I often wonder if everyone really thinks about how diversity actually affects their leadership skills and the future view of their businesses. Read more…

By John T. Hewitt, Founder & CEO of Liberty Tax Service

[Fifth in a series of articles on managerial and company building successes by John Hewitt.]

Have you ever heard of a successful company with so/so passion? Have you ever heard of a successful leader with mediocre ambitions? How about an athlete that’s ambivalent about winning? Of course not! It takes a true “zealot” to be a winner and a real “fanatic” to build a successful company. Fanaticism is the contagion that all successful leaders should have in order to nurture “fanatical” employees, and in my case, franchisees as well. Success can only be accomplished by a group force moving in synch with an ideal; and at Liberty Tax Service, our fanatical ideal has always been to be extraordinary! Read more…

By John T. Hewitt, Founder & CEO of Liberty Tax Service
[Sixth in a series of articles on managerial and company building successes by John Hewitt.]

For many business leaders, the great conundrum has always been how much can I effectively delegate and how much empowerment can I provide before I lose control of the quality of the fulfillment. In order address this intelligently, perhaps we should begin by defining the fundamentals of delegation first, and then move into appropriate empowerment as associated with each delegated task or responsibility. Read more…

By John Hewitt, Founder & CEO of Liberty Tax Service
[Seventh in a series of articles on managerial and company building successes by John Hewitt]

Without question, diversity continues to be a hot topic for politicians, companies, and certainly for successful business leaders. Unfortunately, the discussion rarely evolves from a good idea to actual fruition. In other words, there seems to be lots of “lip service”, but little real action. Never having been the type to sit on the sidelines, I am pleased to share that at Liberty, we put the “meat” back into diversity initiatives, and we encourage other corporations to do so as well! Read more…

By John Hewitt, Founder & CEO of Liberty Tax Service
[Eighth in a series of articles on managerial and company building successes by John Hewitt]

“Choose a job you love and you will never have to work a day in your life.” …Confucius.

When I read this quote, I immediately knew I had found the words to explain exactly how I wanted to live my life. These words have been my personal mantra and I have literally designed my life to follow this advice. Candidly, I can’t imagine that anyone would choose not to do so as well. When one has a passion for what they are doing, the excitement and fanaticism for the mission at hand is contagious. And, as every successful business leader knows, this type of contagion is what success is all about. Read more…

By John Hewitt, Founder & CEO of Liberty Tax Service
[Ninth in a series of articles on managerial and company building successes by John Hewitt]

Doesn’t every New Year seem to bring the inevitable article that takes you into that “fuzzy world” of rhetoric and reads more like a ballad of flashbacks that didn’t quite hit the top 100 list? Sure, looking back on previous years’ efforts is always a sane approach to substantiate your movement forward. But let’s not get so mired in the past that we become immobile because we are focusing too much on what didn’t happen and not enough on what did. We can’t change yesterday, but we can surely impact tomorrow’s success. Reflection may be good for the soul, but let’s talk business, not just recycled resolutions!

Following are five important resolutions that are fairly commonsensical, pretty fundamental, and definitely achievable:

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By John Hewitt, Founder & CEO of Liberty Tax Service
[Tenth in a series of articles on managerial and company building successes by John Hewitt]

Let’s take gender, color, race, disability and creed out of the Diversity equation and what do you have? Very simply, you have people. And, your success is always going to be about “people”. Whether it’s internal intelligence, clients, or in the case of Liberty Tax Service, our franchisees, the bottom line is people working with people successfully, and not on how many people of each ethnicity is onboard. Diversity should play a major role in the progression of your business. It should be a natural process, not something you are doing because you feel compelled to do so. The color of one professional’s skin does not make them any less valuable or contributory than a professional of another ethnicity. We are all just people and we all deserve the opportunity to excel and, yes, go for the brass ring, if you’ll excuse the cliché.

America’s workplace must reflect today’s diverse world, and it must reflect it at all levels within the company. The impact of diversity on a company’s market penetration and overall success can be significant and profound. Think about it…internal diversity draws external diverse groups to your product or service. Why? Because all people enjoy working with someone who understands their culture, as well as the unique communication that results from this knowledge. Without diversity, how are you going to understand and cogently enter the folkways of the many diverse groups that will impact the financial solvency of your company? The more diverse your market becomes, the more your company will prosper. This is simply Business 101!

No More Buzz Words

Diversity directives have been around for some time, and with many business leaders, it is treated more as a buzz word of the times than the outstanding opportunity it presents. Your commitment to diversity cannot be superficial or it will not be embraced by your stakeholders, and certainly not by your marketplace. An inclusive corporate culture is key to recruitment and retention of both your internal intelligence and your clients. Diversity must be woven into the fabric of your company to keep it healthy for your employees, exciting for your culture and satisfying for your clients. This corporate attitude very simply equates to devoted employees and loyal clients. It’s time for corporations to eliminate the buzz words from their vocabulary and start “walking the talk” of diversity.  In actuality, the labor pool itself is becoming so blended, so ‘colorful,’ that employers will be hiring a more diverse workforce because there will be no way to avoid it – and they certainly would be foolish to ignore the value a multicultural workforce can bring to their company.

At Liberty, our franchisee and stakeholder family is a rainbow of diversity. We have been embracing the positives of diversity since the company’s inception. We even wrote the sentiment into our Mission Statement which is quite simple: Set the Standard. Improve Each Day. Have Some Fun. By interconnecting our corporate culture with diversity, we have been able to serve diverse communities across the nation, while working to set the standard for other companies that might be a little slower to the concept.  Through our FREE financial and fiscal education to underserved communities in English and Spanish, (and in some cities we even provide these courses in Haitian Creole, as well as various Oaxacan dialects), we have provided the means by which many of our disenfranchised neighbors can learn vital information that will make a difference in their lives. The goal is to understand the needs of our diverse communities and to provide them with services that will enhance their lives, promote their success, and ultimately, help move them from just “surviving” into “thriving” mode. And, we do this with the help and input from our diverse stakeholders and franchisees. At Liberty, our philosophy is that if you take care of the community, the community will take care of you. So rather than selling to these underserved communities, we work to provide them with information that will allow them to make more informed economic decisions that will positively impact their lives and their future. We believe that they, in turn, will trust in our commitment and will choose Liberty as their service provider when the time comes for them to make this decision. But first, we invest in the community to help it prosper. Entering diverse markets should be viewed as a long term investment. Building trust within immigrant communities is extremely important to the success of your business. And, it takes time and sincere effort to achieve.

That said, diversity is, in effect, an investment in people. There is nothing more critical or worthwhile than to realize the importance and value of the diverse communities in America. Diversity allows companies to utilize our country’s assets to the fullest. The dimensions of employable individuals have grown in the U.S. That is to say, the broader the workforce, the broader your options. Companies that embrace diversity ultimately reap the benefits of their commitment. Studies show that companies that embrace diversity reported an increase in employee work quality, which, in turn, equated to higher productivity and a greater return on investment. Various researchers studying diversity in the workplace have consistently found that organizations that emphasize collectivism in the workplace typically see greater benefits as a result of diversity. Companies that creating a corporate culture that focuses on “involvement” will more easily facilitate successful diversity fulfillment in their organization.

The reality is that diversity will continue to be evolutionary. As business leaders, we must embrace the opportunities and value the cultural impact this evolution will provide.

John T. Hewitt is a pioneer in the Tax industry with over 42 years devoted to its success. He is the founder of two franchise service companies that Entrepreneur magazine has ranked in the top 20 of their Franchise 500 and also listed in Inc. 500 top privately-held companies. He is also the only CEO in the tax industry history who has made the Top 100 List for most influential people while heading two different companies, Jackson Hewitt Tax Service and Liberty Tax Service. Accounting Today has named Mr. Hewitt one of the Top 100 most influential persons in the tax industry time after time (minimum of 10).

After a highly successful sale of Jackson Hewitt (NYSE: JTX), Mr. Hewitt started Liberty Tax Service in 1997. Under his leadership, Liberty Tax Service has reached unmatched success in the industry and has been recognized as the fastest growing retail tax preparation company in the industry’s history, continuing to succeed at the level of the sum of both of its competitors’ businesses.

In January 2011, Entrepreneur magazine ranked Liberty Tax Service as #1 of the tax franchises on the Entrepreneur “Franchise 500.” Additionally, Liberty Tax Service is the only tax franchise on the Forbes “Top 20 Franchises to Start.”

With 3,800 offices in the U.S. and Canada, Liberty Tax Service has embraced diversity in its ranks, and kept its franchise price affordable. For this reason, Liberty Tax Service is the only tax service that was included on the elite list of “25 Top Franchises for Hispanics” in 2006, 2007, 2009 and 2010 published by Poder, formerly Hispanic Enterprise magazine. Liberty was also been recognized in 2009 and 2010 as the “Best of the Best” in Black EOE Journal, the Hispanic Network Magazine, and the Professional Woman’s Magazine in the categories of “top franchise,” “top financial institutions,” and “top supplier of diversity programs.” Black Enterprise magazine also named Liberty Tax Service as one of the most affordable and best franchise opportunities for minorities six times since 2001, and most recently as one of the “40 Best Franchises for African Americans” in its September 2010 issue.

Mr. Hewitt is a highly regarded national speaker, writer and expert in the tax industry, as well as a serial entrepreneur and expert in management growth strategies.

Tax Day is an appropriate time to underscore the often-overlooked fact that unauthorized immigrants pay taxes. The unauthorized, like everyone else in the United States, pay sales taxes. They also pay property taxes—even if they rent. At least half of unauthorized immigrants pay income taxes.(1) Add this all up and it amounts to billions in revenue to state and local governments. The Institute for Taxation and Economic Policy (ITEP) has estimated the state and local taxes paid in 2010 by households that are headed by unauthorized immigrants. These households may include members who are U.S. citizens or legal immigrants. Collectively, these households paid $11.2 billion in state and local taxes. That included $1.2 billion in personal income taxes, $1.6 billion in property taxes, and $8.4 billion in sales taxes. The states receiving the most tax revenue from households headed by unauthorized immigrants were California ($2.7 billion), Texas ($1.6 billion), Florida ($806.8 million), New York ($662.4 million), and Illinois ($499.2 million) {See Figure below}.(2)

These figures should be kept in mind as politicians and commentators continue with the seemingly endless debate over what to do with unauthorized immigrants already living in the United States. In spite of the fact that they lack legal status, these immigrants—and their family members—are to the U.S. economy; not only as taxpayers, but as workers, consumers, and entrepreneurs as well.(3)
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by SmartRegion.org on Friday, April 22, 2011 at 11:25am

The Urban League of Hampton Roads, Inc. honored award winners at its 21st Annual Whitney M. Young, Jr. Dinner, which recognizes corporations and individuals in the community that uphold ideals of equal opportunity, diversity and justice.

The dinner was held on Thursday, April 21, 2011 at the Renaissance Portsmouth Hotel. GEICO, Tidewater Community College, Norfolk Southern Corporation, TowneBank, SunTrust Bank, Bank of America and Regent University, Wachovia/Wells Fargo and other local sponsors joined in support of the event, themed “Faces of Change.” Read more…

WASHINGTON — The Internal Revenue Service today reminded taxpayers to review their tax returns for common errors that could result in delayed refunds. Here are some ways to avoid common tax return errors.

File electronically. Filing electronically, whether through e-file or IRS Free File, vastly reduces the errors in a tax return, as the tax software does the calculations, flags common errors and prompts the taxpayers for missing information. Read more…

When it comes to filing a tax return – or not filing one – the IRS can assess a penalty if you fail to file, fail to pay or both. Here are eight important points the IRS wants you to know about the two different penalties you may face if you do not file or pay timely. Read more…

Each year, the Internal Revenue Service sends millions of letters and notices to taxpayers for a variety of reasons. Here are eight things to know about IRS notices – just in case one shows up in your mailbox.

1. Don’t panic. Many of these letters can be dealt with simply and painlessly. Read more…

WASHINGTON — Are you unable to complete and file your federal individual tax return by the April 18 deadline? If so, you can request an extension of time to file, which will automatically give you until Oct. 17, 2011, to submit your tax return to the Internal Revenue Service.

An extension gives you an additional six months to file your tax return. But keep in mind that an extension of time to file is not an extension of time to pay. All outstanding balances are due on April 18, 2011. Read more…

WASHINGTON — The Internal Revenue Service today reminded taxpayers who have not yet filed their 2010 tax returns that individual returns and payments are due next Monday, April 18, 2011.

There are several payment options available to taxpayers who have a balance due.

Payments can be made by:

+ Electronic funds withdrawal
+ Credit or debit card
+ The Electronic Federal Tax Payment System or
+ Check or Money Order Read more…

WASHINGTON — The Internal Revenue Service today reminded taxpayers to use new mobile phone applications launched this filing season to check the status of their refunds and to get other tax information on the go.

To date, there have been more than 250,000 downloads of the IRS2Go app. Read more…

An amended tax return generally allows you to file again to correct your filing status, your income or to add deductions or credits you may have missed.

Here are nine points the IRS wants you to know about amending your federal income tax return. Read more…

After you file your taxes, you will have many records that may help document items on your tax return. You will need these documents should the IRS select your return for examination. Here are five tips from the IRS about keeping good records: Read more…

The Encuentro Conference is an annual meeting of the Virginia Latino Higher Education Network (VALHEN), where members discuss Latinos and education, and strive to advance Virginia Latinos in higher education.

The VALHEN Encuentro 2011 was held on March 24 -25 at Northern Virginia Community College in Annandale, VA. This year’s topic was Latinos – Growing and Driving Success in Virginia. Keynote speakers were Dr. Michael Olivas, J.D. and Ph.D, and Mr. Juan Sepulveda, Director of the White House Initiative on Educational Excellence for Hispanic Americans. Liberty Tax Service was a major sponsor of the event, and actively participated as a speaker/presenter in the conference.

Ms. Martee Pierson, Director of Diversity Programs of Liberty Tax Service and Executive Director of the Una Familia Sin Fronteras Foundation, led a session on the Importance of Entrepreneurship, together with Dr. Marcela Chavan-Matviuk, Ph.D. and Dr. Mavel Velasco, Ph.D. Read more…

With the Monday, April 18th federal income tax deadline rapidly approaching the IRS wants remind taxpayers about the self-help tools that are available to make filing taxes easier.

Taxpayers seeking last minute help can find a wide variety of useful products and information from the comfort of their home through the IRS website. Read more…

The tax filing deadline is just around the corner. The IRS offers 10 tips for taxpayers still working on their tax returns: Read more…

WASHINGTON –– Hiding income in offshore accounts, identity theft, return preparer fraud, and filing false or misleading tax forms top the annual list of “dirty dozen” tax scams in 2011, the Internal Revenue Service announced today.

“The Dirty Dozen represents the worst of the worst tax scams,” IRS Commissioner Doug Shulman said. “Don’t fall prey to these tax scams. They may look tempting, but these fraudulent deals end up hurting people who participate in them.” Read more…

Can’t make the April 18 tax filing deadline and need more time to file your tax return? You can get an automatic six month extension of time to file from the IRS.

Here are seven important things you need to know about filing an extension: Read more…

La Conferencia Encuentro es una reunión anual de la organización “Virginia Latino Higher Education Network” (VALHEN), donde miembros discuten sobre Latinos y educación, y se esfuerzan incentivando a Latinos de Virginia en obtener educación superior.

El VALHEN Encuentro 2011 fue realizado del 24 al 25 de marzo en la Universidad Comunitaria del Norte de Virginia en Annandale, VA. El tema de este año fue Latinos – Creciendo y Brindando Éxito en Virginia. Los conferencistas de apertura fueron el Dr. Michael Olivas, J.D. y Ph.D., y el Sr. Juan Sepulveda, Director de la Iniciativa de la Casa Blanca en Excelencia Educativa para Hispanoamericanos. Liberty Tax Service fue uno de los patrocinadores principales del evento, y participó activamente como expositor en la conferencia. La Sra. Martee Pierson, Directora de Programas de Diversidad de Liberty Tax Service y Directora Ejecutiva de la Fundación Una Familia Fronteras, presentó una sesión sobre la Importancia Empresarial, junto con la Dra. Marcela Chavan-Matviuk, Ph.D. y la Dra. Mavel Velasco, Ph.D. Read more…

If you owe taxes but can’t pay the full amount by the April 18 deadline you should still file your return on time and pay as much as you can to avoid penalties and interest. You should also contact the IRS to ask about alternative payment options. Here are three alternative payment options you may want to consider: Read more…

Washington — The Internal Revenue Service today issued guidance that designates the earthquake and tsunami in Japan in March 2011 as a qualified disaster for federal tax purposes. This guidance affects recipients of disaster relief payments as well as employer-sponsored private foundations.

The guidance allows recipients of qualified disaster relief payments to exclude those payments from income on their tax returns. Also, the guidance allows employer-sponsored private foundations to assist employee victims in areas affected by the March 2011 earthquake and tsunami in Japan without affecting their tax-exempt status. Read more…

Are you making a payment with your federal tax return this year? If so, here are 10 important things the IRS wants you to know about making tax payments correctly. Read more…

WASHINGTON — The Internal Revenue Service today reminded taxpayers that they have two weeks remaining until the April 18 filing deadline and that they can use IRS Free File to do their taxes or file an extension. Read more…

Are you expecting a tax refund this year? Here are 10 things the IRS wants you to know about your refund. Read more…

WASHINGTON — The Treasury Department and the Internal Revenue Service (IRS) today announced that Form 8939 is not due on April 18, 2011, and should not be filed with the final Form 1040 of persons who died in 2010. New guidance that announces the form due date will be issued at a later date and Form 8939 will be released soon after guidance is issued. Read more…

Estimated tax is a method used to pay tax on income that is not subject to withholding. You may need to pay estimated taxes during the year depending on what you do for a living and what type of income you receive.

These six tips from the IRS will provide you with a quick look at estimated taxes and how to pay them: Read more…

Taxpayers who owe taxes may be relieved to know that there are some options for those who owe and can’t afford to pay the full amount right away.

Here are the top 10 things the IRS wants you to know if you need more time to pay your taxes: Read more…

Mistakes on tax returns mean they take longer to process, which in turn, may cause your refund to arrive later. The IRS cautions against these nine common errors so your refund is timely. Read more…

WASHINGTON — The Internal Revenue Service today issued interim guidance to employers on informational reporting on each employee’s annual Form W-2 of the cost of the health insurance coverage they sponsor for employees. The IRS is also requesting comments on this interim guidance. The IRS emphasized that this new reporting to employees is for their information only, to inform them of the cost of their health coverage, and does not cause excludable employer-provided health coverage to become taxable; employer-provided health coverage continues to be excludable from an employee’s income, and is not taxable. Read more…

If you give someone money or property during your life, you may be subject to the federal gift tax. Most gifts are not subject to the gift tax, but the IRS has put together the following eight tips to help you determine if your gift is taxable.

1. Most gifts are not subject to the gift tax. For example, there is usually no tax if you make a gift to your spouse or to a charity. If you make a gift to someone else, the gift tax usually does not apply until the value of the gifts you give that person exceeds the annual exclusion for the year. For 2010, the annual exclusion is $13,000. Read more…

This year, you have a few extra days to make contributions to your traditional Individual Retirement Arrangements. That’s because Emancipation Day, a legal holiday in the District of Columbia, will be observed on Friday, April 15, 2011, which moves the due date for filing your tax return and making contributions to your 2010 IRA to Monday, April 18, 2011.

Here are the top 10 things the Internal Revenue Service wants you to know about setting aside retirement money in an IRA: Read more…

WASHINGTON — Taxpayers abroad can now use IRS Free File to prepare and electronically file their returns for free, the Internal Revenue Service announced today.

Five Free File companies can handle returns filed from foreign addresses. This means both U.S. citizens and resident aliens living abroad with adjusted gross incomes of $58,000 or less can use brand-name software to prepare their returns and then e-file them for free. Read more…

If you file a joint return and all or part of your refund is applied against your spouses’ past-due federal tax, state income tax, child or spousal support or federal nontax debt, such as a student loan, you may be entitled to injured spouse relief.

Here are seven facts the IRS wants you to know about claiming injured spouse relief: Read more…

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.

Here are seven important facts the IRS wants you to know about tax refund offsets: Read more…

WASHINGTON — The Internal Revenue Service seeks civic-minded volunteers to serve on the Taxpayer Advocacy Panel (TAP), a federal advisory committee that listens to taxpayers, identifies key issues and makes recommendations for improving IRS service. Read more…

The IRS wants taxpayers to be aware of tax scams. These scams are illegal and can lead to problems for taxpayers including significant penalties, interest and possible criminal prosecution. The schemes take several shapes, ranging from promises of large tax refunds to illegal ways of “untaxing” yourself.

Here are three important guidelines to keep in mind: Read more…

RICHMOND, VA – March 2011 – Five deserving Virginia college students have been selected as winners of the Second Annual Virginia Latino Higher Education Network (VALHEN) scholarships for the 2011-2012 school year. Two of the scholarship recipients will receive awards of $1000 each, both funded by VALHEN. The other three winners will each be awarded $500 scholarships sponsored through a generous donation by Liberty Tax Service and its Una Familia Sin Fronteras initiative.

The VALHEN Scholarship Committee is pleased to announce the names of the five recipients as follows: Read more…

Name: Milena Jaimes
Winner: $1000 Scholarship – “The VALHEN Scholars Award”
School: College of William and Mary
Grade: Junior
Transfer student from Richard Bland College
GPA 4.0 at Richard Bland; no GPA as yet from William and Mary (Spring ’11 is her first semester at W&M)

Milena Jaimes transferred to the College of William and Mary after earning an Associates of Science degree from Richard Bland College with a 4.0 average. She is pursuing a major in Kinesiology & Health Sciences. Her long-term goal is to obtain a Doctorate in Physical Therapy. Her interest in this field comes from a wish to challenge herself intellectually as well as a desire to help others lead lives with little or no physical limitations.

In the past, Ms. Ayala’s extra-curricular activities have included presiding over the Council on Academic Integrity, being a member of the Phi Theta Kappa Honor Society and serving as an Orientation Assistant to incoming freshmen.

Miss Ayala emigrated from Colombia with her family when she was nine years old. Identifying herself as bi-cultural, she believes in embracing new experiences without disregarding older ones, because these are the things that “shape who we are”.

Name: – Carolina Perez
Winner: $1000 Scholarship – “The VALHEN Mario Colon Rivadeneira Memorial Scholarship”
School: Virginia Commonwealth University
Grade: College Freshman
GPA: 3.388

Carolina Perez, a freshman at Virginia Commonwealth University majoring in Biology with a concentration in pre-medicine, entered college in the fall with thirty-six earned credits thanks to her scores on Advanced Placement exams. After graduating from VCU, she has aspirations of attending medical school and is considering becoming a primary care physician or internist “to reach out to as many patients from various backgrounds and walks of life as possible.”

Ms. Perez’s extracurricular activities include volunteering at the emergency room of a hospital, helping to lead a Rosary Prayer group at the Catholic Campus Ministry; and acting as the newsletter chair for the Brandt Hall Council in her residence hall at VCU.

Of Mexican ancestry, Ms. Perez is cognizant of the importance of family. She is thankful for the values her parents instilled in her as well as for the sacrifices they made to ensure that she and her brothers have better opportunities. As a first generation college student, she is motivated not only to strive for her goals, but also to be a positive role model for other young women.

Name: – Ada Carolina Espinoza
Winner: $500 Scholarship – The Liberty Tax Service “Una Familia Sin Fronteras” Scholarship
School: George Mason University
Grade: College Junior
GPA: 3.67

Ada Carolina Espinoza is a junior at George Mason University majoring in Global Affairs with a concentration in Governance and Diplomacy and minoring in Economics. Ultimately her goal is to work for the U.S. Agency for International Development (USAID), the U.S. Department of State or the United Nations.

When Ms. Espinoza came to the United States from Peru six years ago, she spoke little English. Less than a year later, she had learned the language, which she proudly admits is one of her greatest achievements.

In the essay she submitted with her application as well as in her interview, Ms. Espinoza expressed the role that work ethic plays in achieving success. She describes Latinos as hard workers with dreams of success equal to those of the colonists who came to America. In her own words, “We fight for our dreams, goals and desires and we manage to accomplish them, because Latinos are people who never give up.”

Name: Ever Villalta
Winner: $500 Scholarship – The Liberty Tax Service “Una Familia Sin Fronteras” Scholarship
School: George Mason University
Grade: College Sophomore
GPA. 3.65

Ever Villalta is a sophomore at George Mason University majoring in Government and International Politics and minoring in intelligence analysis. His career goal is to be involved in intelligence analysis that shapes strategies in foreign policy and provides intelligence necessary to maintain the United States’ national security. He believes that a career with the government would allow him to serve a nation that has provided him and his family with so much. He would consider working for the United States Department of State or the Central Intelligence Agency.

Mr. Villalta is actively involved with student government at George Mason University. He is a member of the Elections & Disputes Commission of George Mason University; a member of the George Mason College Democrats; a GMU Student Government Parking Appeals Board member and a GMU Mason Crew.

Mr. Villalta expressed that he derives inspiration from his parents, who sacrificed themselves so their children could succeed. “I’ve witnessed firsthand from my parents that hard work can go a long way and I am grateful for what I have. For that I seek to continuously capitalize on opportunities and set high goals.”

Name: Raymundo Gomez
Winner: $500 Winner – The Liberty Tax Service “Una Familia Sin Fronteras” Scholarship
School: Thomas Nelson Community College
Grade: College Freshman
GPA 3.7

Raymundo Gomez is a college freshman enrolled in the Thomas Nelson Community College 2X2 program, which allows students to transfer to any college within the Tidewater Consortium if they meet the required GPA. Mr. Gomez attained a 3.7 GPA in the first year Honors Program and has been accepted into Old Dominion University for the Summer 2011 semester. He plans to major in English and ultimately wants to become a teacher.

As a believer that community service has been a road to his own redemption, Mr. Gomez has logged over 500 hours of volunteer work with the Special Olympics. He feels he has gained just as much from his commitment to the Special Olympics as they have benefited from his involvement.

Faced with challenges and adversity at home when he was in the ninth grade, Mr. Gomez says he lost hope and resigned himself to being a high school dropout. He credits a high school teacher for rescuing him from certain failure when she recognized his potential. In part his desire to teach in a public school is motivated by his wish to give back to the community that has supported and encouraged him. In his own words, “I want to become the kind of man who is improved by adversity, not one who is limited by it.”

If you have a farming business, there are several tax issues to consider before filing your federal tax return. The IRS has compiled a list of 10 things that farmers may want to know.

1. Crop Insurance Proceeds —You must include in income any crop insurance proceeds you receive as the result of crop damage. You generally include them in the year you receive them. Read more…

WASHINGTON – African-Americans in the South are shunning city life for the suburbs at the highest levels in decades, rapidly integrating large metropolitan areas that were historically divided between inner-city blacks and suburban whites.

Census figures also show that Hispanic population growth for the first time outpaced that of blacks and whites in most of the South, adding to the region’s racial and ethnic mix. Read more…

If you itemize deductions and are an employee, you may be able to deduct certain work-related expenses. The IRS has put together the following facts to help you determine which expenses may be deducted as an employee business expense.

Expenses that qualify for an itemized deduction include: Read more…

Parents need to be aware of the tax rules that affect their children’s investment income. Here are four facts from the IRS that will help parents determine whether their child’s investment income will be taxed at the parents’ rate or the child’s rate: Read more…

Whether you are self-employed or an employee, if you use a portion of your home for business, you may be able to take a home office deduction. Here are six things the IRS wants you to know about the Home Office deduction.

1. Generally, in order to claim a business deduction for your home, you must use part of your home exclusively and regularly: Read more…

Company Waives Fees for Donations March 19

(Virginia Beach, VA) To support the American Red Cross relief efforts in Japan after the earthquake and tsunami last week, Liberty Tax Service will waive tax preparation fees for first-time customers who contribute a minimum of $50 to the American Red Cross on Saturday, March 19, 2011. This day of free tax preparation will take place at participating locations throughout the United States from 9 a.m. until 9 p.m. Call 866-871-1040 to be directly connected with the nearest Liberty Tax location. Read more…

The number of Hispanics counted in the 2010 Census has been larger than expected in most states for which the Census Bureau has released detailed population totals so far, according to an analysis by the Pew Hispanic Center. The gap between the Census 2010 count and Census Bureau population estimates has been widest in states with relatively small Hispanic populations. Read more…

Here is some information from the IRS about a special tax deduction for the self-employed. You may be able to deduct premiums paid for medical and dental insurance and qualified long-term care insurance for you, your spouse, and your dependents if you are one of the following: Read more…

WASHINGTON — The IRS is reminding those who haven’t filed their tax returns that they can receive their refunds in the form of savings bonds, payments to retirement accounts, mutual funds, as well as in the form of cash directly deposited to a checking or savings account.

By March 4, the IRS had issued more than 52 million refunds worth $161 billion for an average refund of $3,070. Read more…

WASHINGTON — The Internal Revenue Service today announced the release of the 2010 IRS Data Book, an annual snapshot of agency activities for the fiscal year.

The report describes activities conducted by the IRS from Oct. 1, 2009, to Sept. 30, 2010, and includes information about returns filed, tax collections, enforcement and taxpayer assistance, as well as the IRS budget and workforce. Read more…

New Horowitz study finds 31% of all urban consumers watch TV content on alternative platforms
By George Winslow — Broadcasting & Cable, 3/11/2011 10:59:12 AM

Early results of a new Horowitz Associates study show that almost a third of urban consumers (31%) watch TV content via PCs, mobile, over the top devices or other alternative platforms each week and that Hispanic, Black and Asian urban consumers are particularly heavy uses of these platforms. Read more…

By Daniel de Vise, The Washington Post

A consortium of non-profits and foundations this week highlighted what they say is the necessary role of Hispanics in driving the national goal of regaining the world lead in college completion.

President Obama has proposed retaking that lead by 2020. Many other higher education organizations have joined the initiative, sometimes underscoring the importance of one sector or demographic group in contributing to the goal — community colleges, public universities, blacks and Hispanics, college dropouts and so forth. Read more…

Overview

Hispanic voters are nearly three times more prevalent in states that gained congressional seats and Electoral College votes in the 2010 reapportionment than they are in states that lost seats, according to an analysis of Census data by the Pew Hispanic Center, a project of the Pew Research Center. Based on averages reflecting congressional gains and losses, 15.2% of the eligible voter population in states that gained seats is Hispanic, compared with just 5.4% of eligible voters in those states that lost seats. Read more…

Taxpayers who made some energy efficient improvements to their home or purchased energy-efficient products last year may qualify for a tax credit this year. The IRS wants you to know about these six energy-related tax credits created or expanded by the American Recovery and Reinvestment Act of 2009.

1. Residential Energy Property Credit This tax credit is for homeowners who make qualified energy efficient improvements to their existing homes. This credit is 30 percent of the cost of all qualifying improvements. The maximum credit is $1,500 for improvements placed in service in 2009 and 2010 combined. The credit applies to improvements such as adding insulation, energy efficient exterior windows and energy-efficient heating and air conditioning systems. Read more…

Hispanics are fueling growth in California, one of the most populous states in the country, according to the latest 2010 U.S. Census figures.

According to the statistics:

* Minorities contributed all of the growth in California with Hispanics accounting for 71 percent of the minority growth in the state.
* More than 14 million Hispanics reside in California.
* 38 percent of California state residents are of Hispanic origin.
* The Hispanic population in California grew 28 percent in the last decade.
* 77 percent of the Hispanic growth in the state was among Adults 18+, while 23 percent was among those under 18.

“The new Census figures just released for California show double-digit growth in the Hispanic population in the state and mirrors the growth pattern we are seeing across the U.S.,” said Elizabeth Ellers, executive vice president, Corporate Research, Univision Communications Inc. Read more…

More than half of California’s children are now of Hispanic origin, according to the US Census Bureau. The latest data from the 2010 census shows that Latinos and Asians accounted for most of the population growth in California over the past decade.

The number of Hispanics rose 28% to 14 million, reaching near parity with non-Hispanic whites, while Asians grew 31%. Read more…

When filing your federal income tax return, taxpayers can choose to either take the standard deduction or to itemize their deductions. The IRS has put together the following six facts to help you choose the method that gives you the lowest tax.

Whether to itemize deductions on your tax return depends on how much you spent on certain expenses last year. Money paid for medical care, mortgage interest, taxes, charitable contributions, casualty losses and miscellaneous deductions can reduce your taxes. If the total amount spent on those categories is more than your standard deduction, you can usually benefit by itemizing. Read more…

WASHINGTON — The IRS today announced that it has made available information in eight foreign languages about the 2011 Offshore Voluntary Disclosure Initiative (OVDI) for those taxpayers with undisclosed offshore accounts. The agency took this step to reach taxpayers whose primary language may not be English.

The IRS is offering people with undisclosed income from offshore accounts an opportunity to participate in a new, voluntary disclosure initiative to get current on their tax returns. The 2011 OVDI will be available only through Aug. 31, 2011. Read more…

If you paid someone to care for your child, spouse, or dependent last year, you may be able to claim the Child and Dependent Care Credit on your federal income tax return. Below are 10 things the IRS wants you to know about claiming a credit for child and dependent care expenses.

1. The care must have been provided for one or more qualifying persons. A qualifying person is your dependent child age 12 or younger when the care was provided. Additionally, your spouse and certain other individuals who are physically or mentally incapable of self-care may also be qualifying persons. You must identify each qualifying person on your tax return. Read more…

The Alternative Minimum Tax attempts to ensure that anyone who benefits from certain tax advantages pays at least a minimum amount of tax. The AMT provides an alternative set of rules for calculating your income tax. In general, these rules should determine the minimum amount of tax that someone with your income should be required to pay. If your regular tax falls below this minimum, you have to make up the difference by paying alternative minimum tax.

Here are six facts the Internal Revenue Service wants you to know about the AMT and changes for 2010. Read more…

Olive Tree Publishing, Inc., selects Liberty Tax from over 900 corporations as one that provides the best career opportunities for minorities

Virginia Beach, VA – March 2, 2011 – Olive Tree Publishing, Inc., the publisher of the Black EOE Journal, the Hispanic Network Magazine, and the Professional Woman’s Magazine, announced that Liberty Tax Service has been recognized in their publications’ 2010 “Best of the Best” Annual Review Series for the second consecutive year. The annual evaluation, now in its 19th year, sets the standard for identifying corporations that are providing the best career opportunities for minorities and is the most respected evaluation of corporate America’s career advancement opportunities for minorities.

Liberty Tax Service received the following honors: Read more…

Olive Tree Publishing, Inc., entre 900 empresas ha seleccionado a Liberty Tax como una de las empresas que proporciona las mejores oportunidades profesionales para las minorías

Virginia Beach, VA – Marzo 3, 2011 – Olive Tree Publishing, Inc., la editorial que publica las revistas Black EOE Journal, Hispanic Network Magazine, y Professional Woman’s Magazine, anunció que Liberty Tax Service ha sido reconocido por segundo año consecutivo como parte de la serie de revisiones anuales de estas publicaciones denominada “Best of the Best” (Lo mejor de lo mejor) de 2010. La evaluación anual, en su 19º año, establece el estándar para identificar a las empresas que ofrecen las mejores oportunidades profesionales para las minorías y es la evaluación de las oportunidades de crecimiento profesional para minorías en las empresas estadounidenses más respetada. Read more…

Do you rent property to others? If so, you’ll want to read the following seven tips from the IRS about rental income and expenses.

You generally must include in your gross income all amounts you receive as rent. Rental income is any payment you receive for the use of or occupation of property. Expenses of renting property can be deducted from your gross rental income. You generally deduct your rental expenses in the year you pay them. Publication 527, Residential Rental Property, includes information on the expenses you can deduct if you rent property. Read more…

WASHINGTON — The Internal Revenue Service today released the 2011 version of its discussion and rebuttal of many of the more common frivolous arguments made by individuals and groups that oppose compliance with federal tax laws.

Anyone who contemplates arguing on legal grounds against paying their fair share of taxes should first read the 84-page document, The Truth About Frivolous Tax Arguments.

The document explains many of the common frivolous arguments made in recent years and it describes the legal responses that refute these claims. It will help taxpayers avoid wasting their time and money with frivolous arguments and incurring penalties. Read more…

If your mortgage debt is partly or entirely forgiven during tax years 2007 through 2012, you may be able to claim special tax relief and exclude the debt forgiven from your income. Here are 10 facts the IRS wants you to know about Mortgage Debt Forgiveness.

1. Normally, debt forgiveness results in taxable income. However, under the Mortgage Forgiveness Debt Relief Act of 2007, you may be able to exclude up to $2 million of debt forgiven on your principal residence. Read more…

Some taxpayers may have needed to take an early distribution from their retirement plan last year. The IRS wants individuals who took an early distribution to know that there can be a tax impact to tapping your retirement fund. Here are ten facts about early distributions. Read more…

WASHINGTON — Refunds totaling more than $1.1 billion may be waiting for nearly 1.1 million people who did not file a federal income tax return for 2007, the Internal Revenue Service announced today. However, to collect the money, a return for 2007 must be filed with the IRS no later than Monday, April 18, 2011.

The IRS estimates that half of these potential 2007 refunds are $640 or more. Read more…

You may be eligible for a tax credit if you make eligible contributions to an employer-sponsored retirement plan or to an individual retirement arrangement. Here are six things the IRS wants you to know about the Savers Credit: Read more…

If you already filed your federal tax return and are due a refund, you have several options to check on your refund. Here are eight things the IRS wants you to know about checking the status of your refund:

1. Online Access to Refund Information Where’s My Refund? or ¿Dónde está mi reembolso? are interactive tools on http://www.irs.gov and are the fastest, easiest way to get information about your federal income tax refund. Whether you split your refund among several accounts, opted for direct deposit into one account, used part of your refund to buy U.S. Savings Bonds or asked the IRS to mail you a check, Where’s My Refund? and ¿Dónde está mi reembolso? give you online access to your refund information, 24 hours a day, 7 days a week. It’s quick, easy and secure. Read more…

The IRS receives thousands of reports each year from taxpayers who receive suspicious emails, phone calls, faxes or notices claiming to be from the Internal Revenue Service. Many of these scams fraudulently use the Internal Revenue Service name or logo as a lure to make the communication more authentic and enticing. The goal of these scams – known as phishing – is to trick you into revealing personal and financial information. The scammers can then use that information – like your Social Security number, bank account or credit card numbers – to commit identity theft or steal your money.

Here are five things the IRS wants you to know about phishing scams:

1. The IRS doesn’t ask for detailed personal and financial information like PIN numbers, passwords or similar secret access information for credit card, bank or other financial accounts.

2. The IRS does not initiate taxpayer communications through e-mail and won’t send a message about your tax account. If you receive an e-mail from someone claiming to be the IRS or directing you to an IRS site:

Do not reply to the message.
Do not open any attachments. Attachments may contain malicious code that will infect your computer.
Do not click on any links. If you clicked on links in a suspicious e-mail or phishing website and entered confidential information, visit the IRS website and enter the search term ‘identity theft’ for more information and resources to help.

3. The address of the official IRS website is http://www.irs.gov. Do not be confused or misled by sites claiming to be the IRS but ending in .com, .net, .org or other designations instead of .gov. If you discover a website that claims to be the IRS but you suspect it is bogus, do not provide any personal information on the suspicious site and report it to the IRS.

4. If you receive a phone call, fax or letter in the mail from an individual claiming to be from the IRS but you suspect they are not an IRS employee, contact the IRS at 1-800-829-1040 to determine if the IRS has a legitimate need to contact you. Report any bogus correspondence.

5. You can help shut down these schemes and prevent others from being victimized. Details on how to report specific types of scams and what to do if you’ve been victimized are available at http://www.irs.gov, keyword “phishing.”

Source: irs.gov, Tax Tip 2011-38

If you’ve changed your home or business address, make sure you update that information with the IRS to ensure you receive any refunds or correspondence. The IRS offers five tips for taxpayers that have moved or are about to move:

1. Change Your IRS Address Records You can change your address on file with the IRS in several ways: Read more…

Did you know that almost everything you own and use for personal or investment purposes is a capital asset? Capital assets include a home, household furnishings and stocks and bonds held in a personal account. When a capital asset is sold, the difference between the amount you paid for the asset and the amount you sold it for is a capital gain or capital loss. Read more…

The “GenYLA” study is a new research study conducted by the Telemundo Communications Group, a proven leader in Hispanic research, on the current state of Young Latino Americans (YLAS), ages 18-34, one of the fastest growing and increasingly important segments of the population, especially for marketers. The Telemundo Communications Group provides clients with insight into their target consumers through custom proprietary research solutions that are instrumental in analyzing and shaping their marketing and advertising initiatives. Read more…

You may be able to take a tax credit of up to $13,170 for qualified expenses paid to adopt an eligible child. The Affordable Care Act increased the amount of the credit and made it refundable, which means it can increase the amount of your refund.

Here are seven things the IRS wants you to know about the expanded adoption credit. Read more…

“Challenging Season”, says CEO

(Virginia Beach, VA) Despite an unusual start to tax season 2011, Liberty Tax Service reports a 14.2% increase in the total number of returns filed as of February 15, 2011 and a 15.1% increase in revenues generated. Same store sales show a 7.4% increase and net fees are up .8%. Since it was founded in 1997, The Company has demonstrated explosive growth in an industry formerly dominated by tax giant H&R Block (NYSE:HRB), and Jackson Hewitt (NYSE:JTX). Liberty Tax now operates 3,800 offices in the United States and Canada. Read more…

A national telephone survey of 1100 employed adult Hispanic consumers conducted on behalf of management consulting firm Garcia Trujillo LLC, , found that more than 66% of Latinos in America would be more inclined to buy products and services from companies and 64.7% would be even be more loyal to companies that demonstrate a strong and visible commitment to the Hispanic community. And although Hispanics would like to see companies develop or adapt more products and services that are culturally relevant to them, greater community involvement and increasing the number of Hispanics in key management positions are far more important. Read more…

In today’s economy, small business owners sometimes look to the oldest form of commerce – the exchange of goods and services, or bartering. The IRS wants to remind small business owners that the fair market value of property or services received through barter is taxable income.

Bartering is the trading of one product or service for another. Usually there is no exchange of cash. However, the fair market value of the goods and services exchanged must be reported as income by both parties. Read more…

Each show features Doña Libertad as the Hispanic community’s trusted financial and fiscal education advisor!

Liberty Tax Service, the fastest-growing tax preparation company in history, announced that its Hispanic community initiative, “Una Familia Sin Fronteras” (A Family Without Boundaries), is expanding to cover 29 major Hispanic markets (DMAs) with impactful radio schedules in 2011. Additionally, as yet another extension of its multi-faceted Hispanic initiative, Liberty Tax Service has introduced Doña Libertad (Lady Liberty), an easily-accessible, trustworthy financial information advisor and resource for the Hispanic community. Read more…

¡En cada programa estará Doña Libertad como la consejera confiable sobre educación financiera y fiscal de la Comunidad Hispana!

Liberty Tax Service, la compañía de preparación de impuestos con mayor crecimiento en la historia de esta industria, anunció que su iniciativa Hispana, “Una Familia Sin Fronteras” se está expandiendo a 29 importantes mercados Hispanos (DMAs) con impactantes pautas en radio durante 2011. Además, como una extensión más de su multifacética iniciativa Hispana, Liberty Tax Service presentó a Doña Libertad, una consejera financiera confiable y accesible, como un recurso más para la Comunidad Hispana. Read more…

WASHINGTON — The Internal Revenue Service announced today it has started processing individual tax returns affected by legislation enacted in December and reminded taxpayers that they can begin filing electronically immediately.

On Monday, IRS systems began to accept and process both e-file and paper tax returns claiming itemized deductions on Form 1040, Schedule A, as well as deductions for state and local sales tax, higher education tuition and fees and educator expenses. Read more…

IRS Will Start Processing Returns for Taxpayers Who Faced Filing Delays February 14

(Virginia Beach, VA) Tax time is getting sweeter for tax payers who itemize. Starting on Monday, Valentines Day, the IRS can process returns for taxpayers who faced filing delays due to the round of tax extenders and Tax Relief Act of 2010. The delays affected those who filed Schedule A, Form 8917 Tuition and Fees Deduction and Form 4684 Casualties and Thefts. Read more…

Taxpayers should make sure they are aware of many important changes to the tax law before they complete their 2010 federal income tax return.

Here are several important changes that the IRS wants you to keep in mind when you file your 2010 federal income tax return in 2011. Read more…

The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, enacted on December 17, 2010, included several changes impacting workers’ take-home pay and retirees’ net pension checks for 2011. The Tax Relief Act extended for two years the income tax rates that were scheduled to expire at the end of 2010; that extension prevented a large increase in federal income tax withholding. Read more…

The Child Tax Credit is an important tax credit that may be worth as much as $1,000 per qualifying child depending upon your income. Here are 10 important facts from the IRS about this credit and how it may benefit your family.

1. Amount – With the Child Tax Credit, you may be able to reduce your federal income tax by up to $1,000 for each qualifying child under the age of 17. Read more…

With a population of more than 112 million people and an area about three times the size of Texas, Mexico is a vast country. As the second most populous country in Latin America and the most populous Spanish-speaking country in the world, it is a vital market for marketers and consumer packaged goods companies to understand. But to view Mexico’s consumers as uniform in their shopping habits and trends would be a mistake: consumption patterns vary widely based on where people live. Retailers and CPG manufacturers seeking to win in this diverse nation would do well to appreciate its regional diversity. Read more…

Before you file your 2010 tax return, you should make sure you have all the needed documents including all your Forms W-2. You should receive a Form W-2, Wage and Tax Statement, from each of your employers. Employers have until January 31, 2011 to send you a 2010 Form W-2 earnings statement.

If you haven’t received your W-2, follow these four steps: Read more…

Latinos are less likely than whites to access the internet, have a home broadband connection or own a cell phone, according to survey findings from the Pew Hispanic Center, a project of the Pew Research Center. Latinos lag behind blacks in home broadband access but have similar rates of internet and cell phone use.

While about two-thirds of Latino (65%) and black (66%) adults went online in 2010, more than three-fourths (77%) of white adults did so. In terms of broadband use at home, there is a large gap between Latinos (45%) and whites (65%), and the rate among blacks (52%) is somewhat higher than that of Latinos. Fully 85% of whites owned a cell phone in 2010, compared with 76% of Latinos and 79% of blacks. Read more…

When times are tough, it is no surprise to find consumers opting for less-expensive products in order to save money. Equally unsurprising, lower-income households are more likely to trade down, but one group breaks the mold—Spanish-dominant Hispanics. Indeed, latest research from Mintel finds that lower-income, Spanish-dominant Hispanics are still buying name brand personal care products at a higher rate than their English-dominant counterparts. Read more…

If you purchased a home in 2010, you may be eligible to claim the First-Time Homebuyer Credit, whether you are a first-time homebuyer or a long-time resident purchasing a new home. The purchaser must have been at least 18 years old on the date of purchase; for a married couple, only one spouse must meet this age requirement. A dependent is not eligible to claim the credit. Read more…

Forward-thinking marketers know the importance of connecting with Hispanic consumers. But understanding the complex and multidimensional Hispanic population requires expertise.

That’s why Experian Simmons and the Association of Hispanic Advertising Agencies (AHAA), both recognized experts in measuring the Hispanic consumer marketplace, developed the Simmons Latino Cultural Identity Study, a powerful tool that delivers the mindset of the Hispanic consumer. Read more…

The Social Security benefits you received in 2010 may be taxable. You should receive a Form SSA1099 which will show the total amount of your benefits. The information provided on this statement along with the following seven facts from the IRS will help you determine whether or not your benefits are taxable.

1. How much – if any – of your Social Security benefits are taxable depends on your total income and marital status. Read more…

A browner, grayer and more culturally diverse population and workforce will dramatically transform the nation’s social, economic and political institutions, according to a new report by researchers at the University of North Carolina at Chapel Hill. Read more…

The Social Security benefits you received in 2010 may be taxable. You should receive a Form SSA1099 which will show the total amount of your benefits. The information provided on this statement along with the following seven facts from the IRS will help you determine whether or not your benefits are taxable.

1. How much – if any – of your Social Security benefits are taxable depends on your total income and marital status. Read more…

NEW YORK, NY — February 4, 2011 – The Census Bureau released the first state results for the 2010 U.S. Census for Louisiana, Mississippi, New Jersey and Virginia and Hispanic growth was higher than projected. According to the data released:

o In Louisiana, Mississippi, New Jersey and Virginia, the increase in Hispanics was higher than the Census’ latest projections. Read more…

Generally, most income you receive is considered taxable but there are situations when certain types of income are partially taxed or not taxed at all.

To help taxpayers understand the differences between taxable and non-taxable income, the Internal Revenue Service offers these common examples of items not included as taxable income: Read more…

Taxpayers with disabilities and parents of children with disabilities may qualify for a number of IRS tax credits and benefits. Listed below are seven tax credits and other benefits which are available if you or someone else listed on your federal tax return is disabled.

1. Standard Deduction Taxpayers who are legally blind may be entitled to a higher standard deduction on their tax return. Read more…

If you changed your name as a result of a recent marriage or divorce you’ll want to take the necessary steps to ensure the name on your tax return matches the name registered with the Social Security Administration. A mismatch between the name shown on your tax return and the SSA records can cause problems in the processing of your return and may even delay your refund.

Here are five tips from the IRS for recently married or divorced taxpayers who have a name change. Read more…

You can buy Series I U.S. Savings Bonds with a portion or all of your federal tax refund for yourself or anyone. Series I bonds are low-risk bonds that grow in value for up to 30 years. While you own them they earn interest and protect you from inflation.

Here are six things the IRS wants you to know about using your federal refund to purchase savings bonds. Read more…

If you itemize your deductions on Form 1040, Schedule A, you may be able to deduct expenses you paid in 2010 for medical care – including dental – for yourself, your spouse, and your dependents. Here are six things the IRS wants you to know about medical and dental expenses and other benefits. Read more…

WASHINGTON — The Internal Revenue Service and partners nationwide mark the 5th Earned Income Tax Credit Awareness Day on Friday, Jan. 28. This initiative highlights the availability of one of the federal government’s largest benefit programs for working families and individuals.

The American Recovery and Reinvestment Act of 2009 created a new category of families with three or more children and increased the maximum benefit of EITC for tax years 2009 and 2010. The Tax Relief and Job Creation Act of 2010 extended these changes through 2012. Read more…

The Earned Income Tax Credit is a financial boost for workers earning $48,362 or less a year. Four of five eligible taxpayers filed for and received their EITC last year. The IRS wants you to get what you earned also, if you are eligible.

Here are the top 10 things the IRS wants you to know about this valuable credit, which has been making the lives of working people a little easier for 36 years. Read more…

WASHINGTON — The Internal Revenue Service is joining national TV network Telemundo in a special one-hour tax program for Spanish-speaking taxpayers on Sunday, Jan. 30. Read more…

Did you know that your children may help you qualify for some tax benefits? Here are 10 tax benefits the IRS wants parents to consider when filing their tax returns this year.

1. Dependents In most cases, a child can be claimed as a dependent in the year they were born. For more information see IRS Publication 501, Exemptions, Standard Deduction, and Filing Information. Read more…

If you are in business for yourself, or carry on a trade or business as a sole proprietor or an independent contractor, you generally would consider yourself self-employed and you would file IRS Schedule C, Profit or Loss From Business or Schedule C-EZ, Net Profit From Business with your Form 1040.

Here are six things the IRS wants you to know about self-employment: Read more…

Many working taxpayers are eligible for the Making Work Pay Tax Credit in 2010. The credit is based on earned income and is claimed on your 2010 tax return when you file your taxes in 2011.

Here are five things the IRS wants you to know about this tax credit to ensure you receive the entire amount for which you are eligible. Read more…

WASHINGTON — The Internal Revenue Service plans a Feb. 14 start date for processing tax returns delayed by last month’s tax law changes. The IRS reminded taxpayers affected by the delay they can begin preparing their tax returns immediately because many software providers are ready now to accept these returns. Read more…

If you work in an occupation where tips are part of your total compensation, you need to be aware of several facts relating to your federal income taxes. Here are four things the IRS wants you to know about tip income: Read more…

Taxpayers who need certain prior year tax return information can obtain it from the IRS. Here are nine things to know if you need federal tax return information from a previously filed tax return. Read more…

There are two federal tax credits available to help you offset the costs of higher education for yourself or your dependents. These are the American Opportunity Credit and the Lifetime Learning Credit.

To qualify for either credit, you must pay postsecondary tuition and fees for yourself, your spouse or your dependent. The credit may be claimed by the parent or the student, but not by both. If the student was claimed as a dependent, the student cannot file for the credit. Read more…

WASHINGTON — The Internal Revenue Service opened its 21st season of electronic filing today with a reminder to taxpayers that e-file remains the best way to get fast refunds and ensure accurate tax returns, particularly following several tax law changes in December. Read more…

WASHINGTON — The Internal Revenue Service today announced that small tax-exempt organizations may be able to shift to the simpler Form 990-N (e-Postcard) for their 2010 annual information reporting.

The IRS today issued guidance (Revenue Procedure 2011-15) that will allow more tax-exempt organizations to file the e-Postcard rather than the Form 990-EZ or the standard Form 990. Read more…

The first step to filing your federal income tax return is to determine which filing status to use. Your filing status is used to determine your filing requirements, standard deduction, eligibility for certain credits and deductions, and your correct tax. There are five filing statuses: Single, Married Filing Jointly, Married Filing Separately, Head of Household and Qualifying Widow(er) with Dependent Child. Read more…

Some tax rules affect every person who may have to file a federal income tax return – these rules include dependents and exemptions. Here are six important facts the IRS wants you to know about dependents and exemptions that will help you file your 2010 tax return. Read more…

Liberty Tax said Monday that it plans to hire 50,000 seasonal employees at more than 3,500 offices for tax season.

If you’re fluent in Spanish and English, Liberty Tax Service is ready to offer you a terrific opportunity. You simply need to be bilingual with the heart and sincere desire to help the Hispanic community. Read more…

You must file a federal income tax return if your income is above a certain level; which varies depending on your filing status, age and the type of income you receive.

Check the Individuals section of the IRS website at http://www.irs.gov or consult the instructions for Form 1040, 1040A, or 1040EZ for specific details that may help you determine if you need to file a tax return with the IRS this year. You can also use the Interactive Tax Assistant available on the IRS website to determine if you need to file a tax return. The ITA tool is a tax law resource that takes you through a series of questions and provides you with responses to tax law questions.

There are some instances when you may want to file a tax return even though you are not required to do so. Even if you don’t have to file, here are seven reasons why you may want to:

- Federal Income Tax Withheld You should file to get money back if Federal Income Tax was withheld from your pay, you made estimated tax payments, or had a prior year overpayment applied to this year’s tax. Read more…

WASHINGTON — National Taxpayer Advocate Nina E. Olson today released her annual report to Congress, identifying the need for tax reform as the number one priority in tax administration. The Advocate expressed continuing concern that the IRS’s increasing use of hard-core enforcement actions, particularly tax liens, is inflicting unnecessary harm on financially struggling taxpayers. The report also examines challenges the IRS is facing in implementing the new health care law. Read more…

(Virginia Beach, VA) – Liberty Tax dijo el lunes que planeaba contratar 50,000 empleados en sus más de 3,500 oficinas para esta temporada de impuestos.

Si usted domina el español e ingles, Liberty Tax Service está listo para ofrecerle una gran oportunidad. Simplemente necesita ser bilingüe con el corazón y el deseo sincero de ayudar a la comunidad Hispana. Read more…

WASHINGTON — The Internal Revenue Service today opened the 2011 tax filing season by announcing that taxpayers have until April 18 to file their tax returns. The IRS reminded taxpayers impacted by recent tax law changes that using e-file is the best way to ensure accurate tax returns and get faster refunds.

Taxpayers will have until Monday, April 18 to file their 2010 tax returns and pay any tax due because Emancipation Day, a holiday observed in the District of Columbia, falls this year on Friday, April 15. By law, District of Columbia holidays impact tax deadlines in the same way that federal holidays do; therefore, all taxpayers will have three extra days to file this year. Taxpayers requesting an extension will have until Oct. 17 to file their 2010 tax returns. Read more…

You must file a federal income tax return if your income is above a certain level; which varies depending on your filing status, age and the type of income you receive.

Check the Individuals section of the IRS website at http://www.irs.gov or consult the instructions for Form 1040, 1040A, or 1040EZ for specific details that may help you determine if you need to file a tax return with the IRS this year. You can also use the Interactive Tax Assistant available on the IRS website to determine if you need to file a tax return. The ITA tool is a tax law resource that takes you through a series of questions and provides you with responses to tax law questions. Read more…

In 2010, Liberty Tax Service, the fastest-growing retail tax preparation company in the industry’s history, created the Una Familia Sin Fronteras Foundation, the first Foundation in the industry which specifically aims to contribute to Hispanic immigrants’ success through fiscal and financial education.

The Foundation was developed to concentrate on and expand the financial and fiscal educational outreach programs currently provided free of charge through Liberty Tax Service’s rapidly- growing and highly successful Hispanic community initiative, Una Familia Sin Fronteras (A Family without Boundaries). Read more…

En el 2010, Liberty Tax Service, el proveedor de preparación de impuestos de mayor crecimiento en la historia de la industria, creó la Fundación Una Familia Sin Fronteras, la primera Fundación en la industria que se enfoca, a través de la educación, en mejorar la calidad de vida de hispanos que viven en los Estados Unidos.
La Fundación se desarrolló para concentrar y expandir los programas educativos de alcance que actualmente se ofrecen, libre de costo, a través de la iniciativa comunitaria de rápido crecimiento de Liberty Tax Service, Una Familia Sin Fronteras. Read more…

By Timothy R. Homan, BLOOMBERG NEWS

The ethnic makeup of the world’s largest economy will be increasingly diverse, with more mixed-race Americans, according to the head of the U.S. Census Bureau.

“This is the decade of Tiger Woods and Barack Obama, where we talked about race combinations,” Robert Groves, director of the federal agency, said about forthcoming 2010 Census data in an interview on Bloomberg Television’s “Political Capital with Al Hunt,” airing this weekend. “I can’t wait to see the pattern of responses on multiple races. That’ll be a neat indicator to watch.” Read more…

Horowitz Associates’ latest study, Multiplatform Content and Services: Multicultural Edition, focuses on multiplatform TV consumption among Black, Hispanic, Asian, and White broadband users.

A study fielded by Horowitz earlier this year suggested that although Black and Hispanic homes under-index for broadband, they are driving new broadband growth. In Horowitz’s new study, multicultural consumers with broadband also lead the way in ownership of video-enabled handheld devices: 84% of Asian and 83% of Hispanic and Black broadband users can access video on a handheld, compared to 74% of Whites. Read more…

WASHINGTON — The Internal Revenue Service today issued new guidance allowing the continued use of health flexible spending arrangement (FSA) and health reimbursement arrangement (HRA) debit cards for the purchase of prescribed over-the-counter medicines and drugs. Read more…

WASHINGTON — In 2011, personal exemptions and standard deductions will rise and tax brackets will widen due to inflation, the Internal Revenue Service announced today.

These inflation adjustments relate to eight tax provisions that were either modified or extended by the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 that became law on Dec. 17. New dollar amounts affecting 2011 returns, filed by most taxpayers in early 2012, include the following:

- The value of each personal and dependent exemption, available to most taxpayers, is $3,700, up $50 from 2010. Read more…

WASHINGTON — Following last week’s tax law changes, the Internal Revenue Service announced today the upcoming tax season will start on time for most people, but taxpayers affected by three recently reinstated deductions need to wait until mid- to late February to file their individual tax returns. In addition, taxpayers who itemize deductions on Form 1040 Schedule A will need to wait until mid- to late February to file as well. Read more…

WASHINGTON ― The Internal Revenue Service today released instructions to help employers implement the 2011 cut in payroll taxes, along with new income-tax withholding tables that employers will use during 2011.

Millions of workers will see their take-home pay rise during 2011 because the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 provides a two percentage point payroll tax cut for employees, reducing their Social Security tax withholding rate from 6.2 percent to 4.2 percent of wages paid. This reduced Social Security withholding will have no effect on the employee’s future Social Security benefits. Read more…

Virginia Beach, VA – December 9, 2010 — Last week, Liberty Tax Service invited their “top gun” Hispanic market franchisees to attend a 2011 planning meeting at their Virginia Beach headquarters. In attendance were 12 successful franchise owners that have shown their commitment to their Hispanic communities by ensuring that their offices meet all requirements for certification from Liberty Tax in order to provide services to Hispanic consumers. Read more…

Virginia Beach, VA – 9 de diciembre de 2010 – La semana pasada, Liberty Tax Service invitó a los propietarios de franquicia más destacados en el mercado hispano a una reunión de planeación en sus oficinas principales en Virginia Beach. Acudieron 12 propietarios de franquicias exitosos que han mostrado su compromiso con sus comunidades hispanas asegurando que sus oficinas cumplan con todos los requisitos de certificación de Liberty Tax, con el fin de brindar servicios excelentes a los consumidores hispanos. Read more…

WASHINGTON – The Internal Revenue Service today announced that interest rates for the calendar quarter beginning January 1, 2011, will decrease by one percentage point. The rates will be:

- three (3) percent for overpayments [two (2) percent in the case of a corporation]; Read more…

WASHINGTON — The Internal Revenue Service announced the availability of expanded Twitter feeds to share timely information with taxpayers and the tax professional community.

The IRS Twitter news feed, @IRSnews, provides the latest federal tax news and information for taxpayers. The focus of the IRS Twitter messages will be on easy-to-use information, including tax tips, tax law changes and important IRS programs such as e-file, the earned income tax credit and “Where’s My Refund.” Anyone with a Twitter account can follow @IRSnews by going to http://twitter.com/IRSnews. Read more…

WASHINGTON — The Internal Revenue Service today issued the 2011 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on Jan. 1, 2011, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: Read more…

WASHINGTON — The Internal Revenue Service today released final guidance for small employers eligible to claim the new small business health care tax credit for the 2010 tax year. Today’s release includes a one-page form and instructions small employers will use to claim the credit for the 2010 tax year.

New Form 8941, Credit for Small Employer Health Insurance Premiums, and newly revised Form 990-T are now available on IRS.gov. The IRS also posted on its website the instructions to Form 8941 and Notice 2010-82 , both of which are designed to help small employers correctly figure and claim the credit. Read more…

Liberty Tax Service is the first private sector company to have been granted guest of honor status at IME’s (Institute of Mexicans Abroad) press event celebrating the release of this important book that features stories about the immigrant experience and also bears an inscription of gratitude from IME to Liberty’s Una Familia Sin Fronteras Hispanic initiative.

Virginia Beach, VA – November 29, 2010 –Liberty Tax Service was honored by IME (Institute of Mexicans Abroad), the Mexican government ministry that governs all Mexican Consulates in the United States, at a press conference held in Mexico City on November 19th. This annual event celebrates the release of IME’s “Historias de Migrantes” (Migrant Stories) yearly book publication and acknowledges the efforts of selected representatives from Consulates across the U.S. Each year, these Consulates submit remarkable stories about immigrants in their communities. These stories are reviewed by IME, and a select few are deemed worthy to be featured in the “Historias de Migrantes” book. The 2010 edition was just published by IME and will now be distributed to the public through the Consulates. Read more…

Liberty Tax Service es la primera compañía del sector privado a la que se le extiende una invitación de honor para participar en la conferencia de prensa auspiciada por el IME (Instituto de los Mexicanos en el Exterior) en conmemoración al lanzamiento de esta obra importante que narra historias sobre las experiencias de los inmigrantes, y a la vez denota una muestra de gratitud por parte del IME hacia la iniciativa hispana de Liberty denominada Una Familia Sin Fronteras.

Virginia Beach, VA – 29 de noviembre de 2010 –Liberty Tax Service recibió una distinción del IME (Instituto de los Mexicanos en el Exterior), que es el ministerio mexicano que gobierna a los consulados mexicanos en los Estados Unidos, en la conferencia de prensa realizada en la Ciudad de México el pasado 19 de noviembre. Mediante de este evento el IME celebra cada año el lanzamiento de la publicación anual “Historias de Migrantes” y reconoce los esfuerzos de los representantes consulares más destacados en los Estados Unidos. Cada año, estos consulados presentan historias excepcionales de los inmigrantes en sus comunidades. Estas historias son cuidadosamente revisadas por el IME, de las cuales se escogen a las ganadoras para ser publicadas en el libro “Historias de Migrantes”. La edición del 2009 fue publicada recientemente por el IME y será distribuida al público a través de los consulados. Read more…

Se recibieron 451 trabajos en total, 323 provenientes de México, 51 de Estados Unidos y 77 del resto del mundo.

GANADORES.- Se otorgaron reconocimientos a 17 trabajos, de los cuales 7 historias fueron ganadoras y 10 recibieron menciones honoríficas. Read more…

WASHINGTON — The Internal Revenue Service is looking to return $164.6 million in undelivered refund checks. A total of 111,893 taxpayers are due one or more refund checks that could not be delivered because of mailing address errors.

“We want to make sure taxpayers get the money owed to them,” said IRS Commissioner Doug Shulman. “If you think you are missing a refund, the sooner you update your address information, the quicker you can get your money.” Read more…

WASHINGTON — The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2011. In general, these limits will either remain unchanged, or the inflation adjustments for 2011 will be small. Highlights include:

The elective deferral (contribution) limit for employees who participate in section 401(k), 403(b), or 457(b) plans, and the federal government’s Thrift Savings Plan remains unchanged at $16,500. Read more…

Estudio afirma que muchas de estas mujeres padecen dificultades a pesar de trabajar más y contar con mejor educación en comparación a años anteriores. Un estudio revela que la tendencia es más pronunciada en los suburbios.

A los 22 años, Nayhely Curiel se convirtió en madre soltera por elección y decidió que, a pesar de los obstáculos y desafíos, saldría adelante por ella y por su hijo. Hoy está a punto de graduarse en administración de hotelería y restaurantes, y ve el futuro con optimismo. Sin embargo, confiesa que “fue muy difícil”. Read more…

On Oct. 19, 2010, President Obama signed a new executive order renewing the White House Initiative on Educational Excellence for Hispanics. This historic event demonstrates the president’s strong support for the critical role Hispanics play in the overall prosperity of the nation and highlights the Administration’s commitment to expanding education opportunities and improving education outcomes for all students.

Ms. Martee Pierson, Director of Diversity Programs for Liberty Tax Service, with Juan Sepulveda, Director of White House Initiative on Educational Excellence for Hispanics, at signing ceremony

New elements of the executive order place a high priority on action, such as:

- Working directly with communities nationwide in public-private partnerships, linking together key individuals and organizations from within and outside the education system to increase capacity and announce communitywide education initiatives.

- Establishing a Presidential Advisory Commission and national network of community leaders that will provide real-time input and advice on the development, implementation and coordination of education policy and programs that impact the Hispanic community.

- Forming a Federal Interagency Working Group to exchange resources and address issues impacting the lives of Hispanics nationwide, including housing, health, finance, employment and education, among others.

Participants in the invitation-only event included key Department and administration officials; Hispanic national and community leaders; elementary, middle, high school and college students; and parents. Ms. Martee Pierson, Director of Diversity Programs for Liberty Tax Service, attended the event and participated in the White House Initiative Educational Summit prior to the signing ceremony.

Thousands more individuals and groups nationwide watched the signing ceremony via www.whitehouse.gov. More than 25 community Watch Parties with wraparound activities were held in 20 states.

More Than One in Five People in the U.S. are First or Second Generation

The U.S. Census Bureau reports that 36.7 million of the nation’s population (12 percent) were foreign-born, and another 33 million (11 percent) were native-born with at least one foreign-born parent in 2009, making one in five people either first or second generation U.S. residents.

The second generation were more likely than the foreign born to be better educated and have higher earnings and less likely to be in poverty. In 2009, 59 percent of the native-born 25 and older with at least one foreign-born parent had some college education and 33 percent had a bachelor’s degree. That compares with 45 percent of the foreign-born who had some college and 29 percent who had a bachelor’s degree. Read more…

An educational and cultural community event that you don’t want to miss! The Benito Juarez Popular Union cordially invites you to celebrate the annual Guelaguetza 2010. Participate in one of the most colorful celebrations in the Americas, from Oaxaca, Mexico! Enjoy colorful dancing in traditional costumes; taste delicious regional delicacies; see beautiful arts and crafts; hear wonderful folkloric music; and learn about indigenous Oaxacan life and culture, with representatives from eight diverse communities! Read more…

¡Un evento educacional y cultural al cual no quiere faltar! La Unión Popular Benito Juárez cordialmente los invita a la celebración anual de la Guelaguetza 2010. ¡Participe en una de las celebraciones más coloridas de las Américas, desde Oaxaca, México! ¡Diviértase con las danzas y los vestuarios tradicionales; disfrute la comida deliciosa de diferentes regiones; vea artes y manualidades preciosas; escuche la maravillosa música folklórica; y conozca un poco más acerca de la vida y cultura indígena Oaxaqueña con representantes de las diferentes ocho comunidades! Read more…

RALEIGH, N.C. – At a sold-out luncheon on the Meredith College campus Sept. 28, a new organization was launched to help smooth the path to college for Latino students in North Carolina.

Members of Hermanas Latina each will donate $150 a year to the Tomorrow Fund for Hispanic Students, a fund at the Triangle Community Foundation that in its first grant cycle this year awarded $39,000 to help young Latinos attend college. Read more…

U.S. Secretary of Education Arne Duncan announced 99 new grant awards totaling $60.1 million to enhance colleges that enroll a high percentage of Hispanic students.

In the $49.7 million Developing Hispanic-Serving Institutions Program, 78 institutions will expand educational opportunities and improve the educational attainment of Hispanic students. Nearly $10.4 million awarded from the Promoting Postbaccalaureate Opportunities for Hispanic Americans Program will support 21 institutions that offer a postbaccalaureate certificate or degree to help Hispanic Americans enroll and succeed in graduate study, a level of education in which they are underrepresented. Read more…

A crucial filing deadline of Oct. 15 is looming for many tax-exempt organizations that are required by law to file their Form 990 with the Internal Revenue Service or risk having their federal tax-exempt status revoked. Nonprofit organizations that are at risk can preserve their status by filing returns by Oct. 15, 2010, under a one-time relief program.

The Pension Protection Act of 2006 mandates that most tax-exempt organizations must file an annual return or submit an electronic notice, with the IRS and it also requires that any tax-exempt organization that fails to file for three consecutive years automatically loses its federal tax-exempt status.

Here are 10 facts to help nonprofit organizations maintain their tax-exempt status: Read more…

WASHINGTON — The Internal Revenue Service today issued guidance providing relief to homeowners who have suffered property losses due to the effects of certain imported drywall installed in homes between 2001 and 2009.

Revenue Procedure 2010-36 enables affected taxpayers to treat damages from corrosive drywall as a casualty loss and provides a ”safe harbor” formula for determining the amount of the loss. Read more…

WASHINGTON — Oct. 15 is fast approaching and is a key deadline for millions of individual taxpayers who requested an extension to file their 2009 tax returns. It is also a crucial due date for thousands of small nonprofit organizations at risk of losing their tax-exempt status because they have not filed the required forms in the last three years. Read more…

WASHINGTON — The Internal Revenue Service today issued guidance on the expanded adoption credit included in the Affordable Care Act. The IRS also released a draft version of the form that eligible taxpayers will use to claim the newly-expanded adoption credit on 2010 tax returns filed next year.

The Affordable Care Act raises the maximum adoption credit to $13,170 per child, up from $12,150 in 2009. It also makes the credit refundable, meaning that eligible taxpayers can get it even if they owe no tax for that year. In general, the credit is based on the reasonable and necessary expenses related to a legal adoption, including adoption fees, court costs, attorney’s fees and travel expenses. Income limits and other special rules apply. Read more…

Telemundo announced the results of the newest Ipsos-Telemundo poll, which explores the perceptions of Hispanics about education.

The study conducted among Hispanic adults living in the United States shows that this increasingly growing demographic group considers education to be very important. Among the 434 Hispanic adults interviewed, nine in ten (89%) subscribe to the belief that a good education is necessary for Hispanic immigrants in the United States to improve their standard of living – including 73% who completely agree. In comparison, just eight percent disagree. Read more…

The number of Hispanic-owned businesses in the United States increased by 43.7 percent to 2.3 million, more than twice the national rate of 18.0 percent between 2002 and 2007, the U.S. Census Bureau announced today. About 45.8 percent of all Hispanic-owned businesses were owned by people of Mexican origin. Read more…

Even in a challenging and rapidly changing marketplace, lower-income shoppers will generate $115 billion in incremental spending during the next decade. However, they are one of the most misunderstood, ethnically-diverse and underserved shopper segments in the United States. To help retailers and manufacturers truly grasp the behavioral and attitudinal differences across five key lower-income micro-segments, SymphonyIRI Group, Inc. is releasing its fourth annual research report, “The Lower-Income Shopper Report: Serving Lower-Income/Multicultural Shopper Micro-Segments.”

“Many retailers and manufacturers take a one-size-fits-all approach to reaching lower-income shoppers, but with a $115 billion opportunity at stake and increasing competition to win their share of wallet, a mass market view of these shoppers will not be enough to win their loyalty,” says Sean Seitzinger, partner, Symphony Consulting, SymphonyIRI Group. “Only those retailers and manufacturers that embrace a micro-segmentation strategy to truly understand the needs and wants of these varied, nuanced, and multicultural shopper groups will be able to serve them effectively and profitably.” Read more…

(Virginia Beach, VA) Los puertorriqueños nativos que necesiten aplicar por un nuevo certificado de nacimiento antes del 30 de septiembre de 2010 pueden obtener los formularios y tomar ventaja de la asistencia gratuita de Liberty Tax Service. Los preparadores bilingües están disponibles para ayudar con el procesamiento de los formularios. El nuevo mandato está en efecto para los puertorriqueños que nacieron en la isla y residen en los Estados Unidos y no tienen un pasaporte actualizado. La meta es mejorar la seguridad y prevenir el robo de identidad y el uso fraudulento de los certificados de nacimiento de Puerto Rico para obtener pasaportes. Liberty Tax también puede proveer un portavoz para hablar de éste punto con grupos y organizaciones que podrían beneficiar de ésta información. Read more…

IRS Also Announces How Tax-Exempt Organizations Will Claim Credit

WASHINGTON –– The Internal Revenue Service today released a draft version of the form that small businesses and tax-exempt organizations will use to calculate the small business health care tax credit when they file income tax returns next year. The IRS also announced how eligible tax-exempt organizations –– which do not generally file income tax returns –– will claim the credit during the 2011 filing season. Read more…

WASHINGTON — The Internal Revenue Service today issued guidance reflecting statutory changes regarding the use of certain tax-favored arrangements, such as flexible spending arrangements (FSAs), to pay for over-the-counter medicines and drugs.

The Affordable Care Act, enacted in March, established a new uniform standard that, effective Jan. 1, 2011, applies to FSAs and health reimbursement arrangements (HRAs). Under the new standard, the cost of an over-the-counter medicine or drug cannot be reimbursed from the account unless a prescription is obtained. Read more…

The Coinstar Hispanic National Currency Poll revealed that a majority of Hispanics have changed their financial plans for the remainder of 2010 in an effort to better protect their financial futures. Close to nine in ten (89%) of those Hispanics who plan to alter their financial plans for the year indicated that they’ll put more of a focus on saving. In addition, they are closely monitoring their budgets, saving more of their spare change and cashing in their loose coins more often than they did just a year ago. Read more…

There is still time left to take advantage of the American Opportunity Tax Credit, a credit that will help many parents and college students offset the cost of college. This tax credit is part of the American Recovery and Reinvestment Act of 2009 and is available through December 31, 2010. It can be claimed by eligible taxpayers for college expenses paid in 2009 and 2010.

Here are six important facts the IRS wants you to know about the American Opportunity Tax Credit: Read more…

Did you receive a notice from the IRS this year? Every year the IRS sends millions of letters and notices to taxpayers but that doesn’t mean you need to worry. Here are eight things every taxpayer should know about IRS notices – just in case one shows up in your mailbox.

1. Don’t panic. Many of these letters can be dealt with simply and painlessly. Read more…

Did you make a donation to a charity this year? If so, you may be able to take a deduction for it on your 2010 tax return.

Here are the top 10 things the IRS wants every taxpayer to know before deducting charitable donations.

1. Charitable contributions must be made to qualified organizations to be deductible. You can ask any organization whether it is a qualified organization and most will be able to tell you. Read more…

IRS Exempt Organizations is offering one-day workshops for small and mid-size tax exempt organizations. The workshops are presented by experienced IRS Exempt Organizations specialists that will explain what 501(c)(3) organizations must do to keep their tax-exempt status and comply with tax obligations. These one-day introductory workshops are designed for administrators or volunteers who are responsible for an organization’s tax compliance.

Here are five things you need to know about the 2010 IRS Workshops for Small and Mid-Size 501(c)(3) Organizations. Read more…

El Pew Hispanic Center (PHC) dio a conocer el reporte: Unauthorized Immigrants and their U.S.-Born Children (Inmigrantes Indocumentados y sus hijos nacidos en Estados Unidos), en el que se considera que 340,000 niños (de los 4.3 millones) nacidos en Estados Unidos en 2009, son hijos de padres indocumentados.

Otras estimaciones que presenta el estudio son:

· Mientras que los inmigrantes indocumentados representan el 4% de la población adulta de Estados Unidos, sus hijos conforman el 8% de la población de niños nacidos en el país, así como el 7% de la población joven (menor de 18 años de edad). Read more…

The findings of the Univision-AP Poll relating to Hispanics Living in Two Worlds show that foreign-born Hispanics have more idealized views of life in America than U.S.-born Hispanics.

According to the poll:

- Seventy-seven percent of foreign-born Hispanic parents believe it will be easier for their children to find a good job vs. 31 percent of U.S.-born Hispanic parents. Read more…

You may not be thinking about your tax return right now, but summer is a great time to start planning for next year and to make sure your records are organized. Maintaining good records now can make filing your return a lot easier and it will help you remember transactions you made during the year.

Here are a few things the IRS wants you to know about recordkeeping. Read more…

The findings of the Univision-AP Poll relating to Hispanics and Media Consumption show that overall all U.S. Hispanics, including English-dominant Latinos, spend time each day with Spanish-language media.

According to the poll:

- Ninety-percent of Spanish-dominant Hispanics watch some Spanish-language TV and 75 percent listen to Spanish-language radio each day. Read more…

An estimated 340,000 of the 4.3 million babies born in the United States in 2008 were the offspring of unauthorized immigrants, according to a new analysis of U.S. Census Bureau data by the Pew Hispanic Center, a project of the Pew Research Center. Read more…

Thinking about making some energy saving improvements to your home this summer? Taking some energy saving steps now may lead to bigger tax savings next year. The Nonbusiness Energy Property Credit, a tax credit for making energy efficient improvements to homes was increased as part of the American Recovery and Reinvestment Act of 2009.

Here are seven things the IRS wants you to know about the Nonbusiness Energy Property Credit:

1. The new law increases the credit rate to 30 percent of the cost of all qualifying improvements and raises the maximum credit limit to $1,500 claimed for 2009 and 2010 combined. Read more…

The findings of the Univision-AP Poll relating to Hispanics and Religion show that younger Latinos, as well as English-dominant Hispanics, are much less likely to identify as Catholic than older, Spanish-dominant Hispanics.

According to the poll:

- Sixty-two percent of Hispanics identify as Catholic. Among them, regardless of language preference, only 55 percent of young adults 18-29 identify as Catholic, compared to 80 percent of those 65 and older. Read more…

Taxpayers need to be careful to protect their personal information. Identity thieves use many methods to steal personal information and then they use the information to file a tax return and get a refund. Here are 10 things the IRS wants you to know about identity theft so you can avoid becoming the victim of an identity thief.

1. The IRS does not initiate contact with a taxpayer by e-mail. Read more…

Did you end up owing taxes this year? The vast majority of Americans get a tax refund from the IRS each spring, but those who receive a bill may not know that the IRS has a number of ways for people to pay. Here are nine tips for taxpayers who owe money to the IRS.

1. If you get a bill this summer for late taxes, you are expected to promptly pay the tax owed including any penalties and interest. If you are unable to pay the amount due, it is often in your best interest to get a loan to pay the bill in full rather than to make installment payments to the IRS. Read more…

A new commission will study whether the legal system is addressing the needs of the country’s largest and fastest- growing minority.

In an unprecedented move to address the legal issues of Hispanics in the United States, the 400,000-member American Bar Association — under the new leadership of Stephen N. Zack, a Cuban-American lawyer from Miami — will announce Monday the creation of the Commission on Hispanic Legal Rights.

The ABA commission, to be headed by Miami lawyer César L. Alvarez, also a Cuban-American, will hold public hearings in major U.S. cities with Hispanic populations to study whether the legal system is addressing the needs of the country’s largest and fastest-growing minority. Read more…

Overview

Technology use among foreign-born Latinos continues to lag significantly behind that of their U.S.-born counterparts, according to a new analysis of survey data from the Pew Hispanic Center. The nativity differences are especially pronounced when it comes to internet use.

While 85% of native-born Latinos ages 16 and older go online, only about half (51%) of foreign-born Latinos do so.(1) When it comes to cell phones, 80% of native-born Latinos use one, compared with 72% of the foreign born.

Read more…

The findings of the Univision-AP Poll relating to Hispanics and Language Barriers in Education show that despite valuing high school completion, language barriers are crucial obstacles for Hispanics when helping their children with school, and achieving graduation.

According to the poll:

- Of the Hispanic children enrolled in K-12 classes, 78 percent were taught in English, while 3 percent were taught in Spanish. Read more…

Telemundo announced the results of the newest Ipsos-Telemundo telephone poll. As the controversy over the immigration law in Arizona continues, eight in ten Hispanics (81%) say that the hardships faced by Hispanic immigrants living in the United States are worth it in order to ensure a better future for their families.

Over half of the 500 Hispanics interviewed completely agree that the promise of a better future is worth the challenges that immigrants may face living here. Just 12% disagree with this statement (5% somewhat, 7% completely). This is consistent with the results from the March wave of the study, when 84% agreed, including 59% who completely agreed. Read more…

WASHINGTON — The Internal Revenue Service today announced that starting with next year’s tax filing season it will no longer provide tax preparers and associated financial institutions with the “debt indicator,” which is used to facilitate refund anticipation loans (RALs).

“As we prepare for tax season every year, we look at past practices and consider whether they still make sense. We no longer see a need for the debt indicator in a world where we can process a tax return and deliver a refund in 10 days,” IRS Commissioner Doug Shulman said. “We encourage taxpayers to use e-file with direct deposit so they can get their refunds in just a few days.” Read more…

Preview to 2010 Census

Business professionals, eager to see what the U.S. Census Bureau publishes about the diversity and growth of the American population, may not need to wait for the release of this decennial report. Geoscape, a market intelligence firm based in Miami, produces a detailed information resource that enhances and updates Census data then deepens it with a myriad of metrics on the diverse American consumer. The American Marketscape DataStream (AMDS): 2010 Series provides current year and 5-year forecasts on over 1,500 data elements. Read more…

Striving for the American Dream has always been a goal for many Americans, but today three-quarters of African-Americans (75%) and Hispanics (76%), along with over two-thirds of Non-Hispanic Whites (68%) believe “the American Dream is more of a dream than a real possibility for most people,” according to a new multicultural study from The Futures Company. Read more…

The Internal Revenue Service may have money for you. Was your income below the limit that requires you to file a tax return? If so, you may still be due a refund.

If you have not filed a prior year tax return and are due a refund, you should consider filing the return to claim that refund. If you are missing a refund for a previously filed tax return, you should contact the IRS to check the status of your refund and confirm your current address.

Unclaimed Refunds

Some people may have had taxes withheld from their wages but were not required to file a tax return because they had too little income. Others may not have had any tax withheld but would be eligible for the refundable Earned Income Tax Credit.

* To collect this money a return must be filed with the IRS no later than three years from the due date of the return.
* If no return is filed to claim the refund within three years, the money becomes the property of the U.S. Treasury.
* There is no penalty assessed by the IRS for filing a late return qualifying for a refund.
* Current and prior year tax forms and instructions are available on the Forms and Publications page of IRS.gov or by calling 800-TAX-FORM (800-829-3676).
* Information about the Earned Income Tax Credit and how to claim it is also available on IRS.gov.

Undeliverable Refunds

Were you expecting a refund check but didn’t get it?

+ Refund checks are mailed to your last known address. Checks are returned to the IRS if you move without notifying the IRS or the U.S. Postal Service.
+You may be able to update your address with the IRS on the “Where’s My Refund?” feature available on IRS.gov. You will be prompted to provide an updated address if there is an undeliverable check outstanding within the last 12 months.
+ You can also ensure the IRS has your correct address by filing Form 8822, Change of Address, which is available on IRS.gov or can be ordered by calling 800-TAX-FORM (800-829-3676).
+ If you do not have access to the Internet and think you may be missing a refund, you should first check your records or contact your tax preparer. If your refund information appears correct, call the IRS toll-free assistance line at 800-829-1040 to check the status of your refund and confirm your address.

Source: IRS Summertime Tax Tip 2010-13, 8/4/2010, irs.gov

Tax information can be difficult to understand in any language but it can be even more difficult if it is not in your first language. To assist Spanish speaking taxpayers, the IRS provides a wide range of free products and services on its Spanish Language website IRS.gov/espanol.

Here are eight features “en español” you can find this summer:

1. Get answers 24 hours a day seven days a week Whether you just arrived in the United States, have tax questions, are wondering how identity theft affects your taxes, or need a form, IRS.gov/espanol provides a wealth of information on these topics and much more. IRS.gov/espanol is accessible all day, every day for individuals and businesses. Read more…

The White House Initiative on Educational Excellence for Hispanics is now on Facebook!

Our page is your hub for new and education-related information and resources, including: details about grants and scholarships; best practices; White House Initiative partnerships; Hispanic- and Minority-Serving Institutions; U.S. Department of Education programs; Science, Technology, Engineering and Mathematics (STEM) initiatives; and more. Read more…

The findings of the Univision-AP Poll relating to Hispanic Identity show that Latinos overwhelmingly believe it is important to retain their unique identity even as they work to blend into American society. According to the poll:

- Two-thirds of all Hispanics surveyed say it is important to maintain their distinct cultures. At the same time, 54 percent say it is important to assimilate into American society. Read more…

If you forgot to include some income or to take a deduction on your tax return – you can correct it by amending your tax return.

In some cases, you do not need to amend your tax return. The Internal Revenue Service usually corrects math errors or requests missing forms – such as W-2s or schedules – when processing an original return. In these instances, do not amend your return. Read more…

The findings of the Univision-AP Poll relating to Higher Education show that Hispanics, despite acknowledging the value of a college degree, most often do not achieve the goal. According to the survey:

- Hispanics value higher education more than Americans as a whole with 87 percent of respondents stating a college education is extremely or very important, compared to 78 percent of the overall population in the nation. Read more…

The findings of the Univision-AP Poll relating to Higher Education show that Hispanics, despite acknowledging the value of a college degree, most often do not achieve the goal. According to the survey:

- Hispanics value higher education more than Americans as a whole with 87 percent of respondents stating a college education is extremely or very important, compared to 78 percent of the overall population in the nation.

- Ninety-four percent of Hispanics expect their own children to go to college, a desire that’s slightly stronger for girls. Seventy-four percent said the most important goal for a girl right after high school is to attend a four-year college, compared to 71 percent for boys.

The Univision-AP Poll also revealed some of the barriers that keep Hispanics from higher education:

- Fifty-four percent of respondents said their parents did not expect them to attend college or did not care either way.

- More than half of respondents – 54 percent – refer to cost as the top reason for not completing a college degree.

- Fifty-two percent of Hispanics cited family responsibilities as the second most common reason for not completing college.

Although Hispanics try to avoid debt, 51 percent of Spanish Dominant Hispanics said it is always a good idea to take on debt to pay for a college education.

“Education, and improving academic achievement for Hispanic youth, is one of the most important issues in America today,” said Univision Networks President Cesar Conde. “The findings of the Univision-AP Poll on Higher Education reinforce the importance of our ‘Es El Momento’ campaign and our focus on empowering Hispanic parents and children with relevant information and connecting them with the resources they need to succeed.”

Source: Hispanicad.com, 7/29/2010

Immigrants, Latinos, and Asians account for large and growing shares of the U.S. economy and electorate. Overall, immigrants made up more than 12% of the U.S. population (or nearly 38 million people) in 2008, and more than 43% of them are naturalized U.S. citizens meaning they are eligible to vote. “New Americans”—immigrants and the children of immigrants—accounted for more than 8.6% (or 11.7 million people) of all registered U.S. voters in 2006. In 2008, Latinos and Asians accounted for nearly 20% of all Americans (or more than 60 million people) and wielded $1.5 trillion in consumer purchasing power. The businesses they own had sales and receipts of $549 billion and employed 3.7 million people at last count. Read more…

The findings of the Univision-AP Poll relating to Politics show that Hispanics still overwhelmingly support the Democratic Party and the majority think President Obama is doing a good job overall, but the once solid Hispanic support is now waning. On issues important to Hispanics, the President received tepid ratings. The study also found that:

- 70 percent of Hispanics surveyed are U.S. citizens. Read more…

Demo Accounts for One in Six U.S. Residents, Nearly Half Are at Ease in English

NEW YORK (AdAge.com) — If you’re looking to reach upholders of traditional American values, your best bet might be the Hispanic market.

The market is growing: The 2010 Census expected to count a record 50 million Hispanics, or one in every six U.S. residents, meaning the Hispanic population will have increased a stunning 42% from the previous census in 2000. (By comparison, the non-Hispanic population will have edged up just 5% in that decade.) It’s also got scale: Hispanics are now the nation’s second-largest consumer market after white non-Hispanics, who are still the largest group at about 200 million. Read more…

The Internal Revenue Service issues a list of the top 12 tax scams each year – known as the Dirty Dozen. The scams are illegal and can lead to problems for taxpayers including significant penalties, interest and possible criminal prosecution. These scams don’t just happen during the tax filing season, they can happen anytime during the year. Here are five scams from the 2010 Dirty Dozen list every taxpayer should be aware of this summer. Read more…

WASHINGTON — The Internal Revenue Service today released proposed regulations that would establish a fee for individuals who apply for a preparer tax identification number (PTIN). Proposed regulations that were issued in March would require certain tax return preparers to obtain a PTIN. The IRS is working to finalize those proposed regulations, which are the first of a series of steps planned to increase oversight of federal tax return preparation. Read more…

On Wednesday, August 11, Ebony Magazine and the University of Chicago Urban Education Institute will co-host an Education Roundtable at the University of Chicago’s International House, one aspect of the University of Chicago’s commitment to the welfare of the community and to diversity in business relationships.

A panel of the nation’s most distinguished voices on education will discuss the public education crisis and how best practices from all sources — public, charter, and private schools, as well as the emerging educational technology sector — can be used to transform our nation’s K-12 schools. The goal of the Education Roundtable is to reengage the community on different aspects of education and to identify at-hand tools that teachers and parents alike can use to better prepare our children for the future in a challenging knowledge economy. Read more…

Summer is a busy time for everyone, but particularly for military members and their families. Whether it’s moving to a new base or traveling to a duty station, members of the military have many obligations that could impact their tax situation. Here are 10 IRS tax tips military members should keep in mind this summer to help with filing a tax return next year. Read more…

Despite worries, better future seen
MIAMI — Hispanics are eager to blend into American society while still maintaining their cultural identity, a paradox that reflects the complex beliefs of the nation’s fastest-growing minority. And most don’t expect the United States to elect a Latino president in the next 20 years.

Those are some of the findings from an Associated Press-Univision poll of more than 1,500 Latinos. In addition, the survey suggests Hispanics worry more than most Americans about losing jobs and paying bills. They place a high importance on education and expect their children to go to college. Read more…

La acusación formal reciente a una mujer del área de Boston que se aprovechaba de contribuyentes hispanos prometiéndoles obtener reembolsos rápidos, y quien posteriormente presentó declaraciones de impuestos falsas a nombre de estos para inflar sus reembolsos sin avisarles que las reclamaciones eran falsas o infladas, sirve como ejemplo para recordar a todos los contribuyentes que utilizan un servicio de preparación de impuestos que deben asegurarse de que el preparador de sus declaraciones de impuestos sea certificado. Read more…

1. This credit – still available for 2010 – equals 6.2 percent of a taxpayer’s earned income. The maximum credit for a married couple filing a joint return is $800 and $400 for other taxpayers. Read more…

Are you opening a new business this summer? The IRS has many resources available for individuals that are opening a new business. Here are six tax tips the IRS wants new business owners to know. Read more…

Hispanic Heritage Month 2010:
Sept. 15 – Oct. 15

In September 1968, Congress authorized President Lyndon B. Johnson to proclaim National Hispanic Heritage Week, which was observed during the week that included Sept. 15 and Sept. 16. The observance was expanded in 1988 by Congress to a monthlong celebration (Sept. 15 – Oct. 15), effective the following year. America celebrates the culture and traditions of those who trace their roots to Spain, Mexico and the Spanish-speaking nations of Central America, South America and the Caribbean.

Sept. 15 was chosen as the starting point for the celebration because it is the anniversary of independence of five Latin American countries: Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua. In addition, Mexico and Chile celebrate their independence days on Sept. 16 and Sept. 18, respectively.

Population
48.4 million
The estimated Hispanic population of the United States as of July 1, 2009, making people of Hispanic origin the nation’s largest ethnic or race minority. Hispanics constituted 16 percent of the nation’s total population. In addition, there are approximately 4 million residents of Puerto Rico, a Carribbean U.S. territory.
Source: Population estimates and Read more…

Did you know that you may be able to deduct some of your job search expenses on your tax return?

Many taxpayers spend time during the summer months updating their résumé and attending career fairs. If you are searching for a job this summer, you may be able to deduct some of your expenses on your tax return. Here are six things the IRS wants you to know about deducting costs related to your job search. Read more…

The Internal Revenue Service stands ready to help individuals and businesses affected by the oil spill in the Gulf of Mexico.

IRS Taxpayer Assistance Centers in several Gulf Coast cities will be open Saturday July 17 to provide help to taxpayers dealing with tax issues as a result of the BP oil spill. Read more…

The number of minority-owned businesses increased by 45.6 percent to 5.8 million between 2002 and 2007, more than twice the national rate of all U.S. businesses, according to the U.S. Census Bureau. In addition, the number of women-owned businesses increased 20.1 percent during the same period. The total number of U.S. businesses increased between 2002 and 2007 by 18.0 percent to 27.1 million. Read more…

The U.S. Census Bureau, in cooperation with the National Weather
Service, announces the launch of OnTheMap for Emergency Management:
Hurricanes, a Web-based tool that provides real-time workforce information
when a hurricane strikes land in the United States.

OnTheMap for Emergency Management: Hurricanes is an easy-to-use tool
that provides a live feed from the National Hurricane Center. Read more…

Planning what to do in case of a disaster is an important part of being prepared. The Internal Revenue Service encourages taxpayers to safeguard their records. Some simple steps can help taxpayers protect financial and tax records in case of disasters.

Listed below are tips for individuals on preparing for a disaster. Read more…

School’s out and many students now have a summer job. Some students may not realize they have to pay taxes on their summer income. Here are the six things the IRS wants everyone to know about income earned while working a summer job. Read more…

WASHINGTON –– The Internal Revenue Service today announced the opening of a special telephone line for taxpayers affected by the Gulf oil spill.

Individuals who have questions about the BP payments or who are experiencing filing or payment hardships because of the oil spill should contact the IRS at 866-562-5227. Read more…

Did you know that your summer day care expenses may qualify for an income tax credit? Many parents who work or are looking for work must arrange for care of their children under 13 years of age during the school vacation. Those expenses may help you get a credit on next year’s tax return.

Here are five facts the IRS wants you to know about a tax credit available for child care expenses. The Child and Dependent Care Credit is available for expenses incurred during the lazy hazy days of summer and throughout the rest of the year. Read more…

WASHINGTON –– The Internal Revenue Service today provided guidance to individuals and businesses affected by the oil spill in the Gulf of Mexico and announced a number of new efforts to help affected taxpayers, including a special Gulf Coast Assistance Day on July 17. Read more…

The deadline for the completion of qualifying First-Time Homebuyer Credit purchases has been extended. Taxpayers who entered into a binding contract before the end of April now have until September 30, 2010 to close on the home.

The Homebuyer Assistance and Improvement Act of 2010, enacted on July 2, 2010, extended the closing deadline from June 30 to Sept. 30 for eligible homebuyers who entered into a binding purchase contract on or before April 30 to close on the purchase of the home on or before June 30, 2010. Read more…

Eligible taxpayers who contracted to buy a home, qualifying for the first-time homebuyer credit, before the end of April now have until Sept. 30, 2010 to close the deal, according to the Internal Revenue Service.

The Homebuyer Assistance and Improvement Act of 2010, signed by the President today, extended the closing deadline from June 30 to Sept. 30 for any eligible homebuyer who entered into a binding purchase contract on or before April 30 to close on the purchase of the home on or before June 30, 2010. The new law addresses concerns that many homebuyers might be unable to meet the original June 30 closing deadline. Read more…

(CNN) — Census workers are in the final stages of going door-to-door to complete the 2010 U.S. census, but some experts are looking further to the future to explore the way Americans work, live and identify themselves.

In his new book “The Next Hundred Million: America in 2050,” Joel Kotkin offers thoughts on what the census will reveal in the next 40 years, including how migration patterns, population dynamics and cultural diversity will come to shape the portrait of the American landscape. Read more…

WASHINGTON — The Internal Revenue Service today invited public comment on how to most effectively carry out a law change that, starting in 2012, will require businesses to report a wider range of payments to contractors, vendors and others, usually on Form 1099. These comments will help the IRS issue guidance that implements this provision in a manner that minimizes burden and avoids duplicate reporting. Read more…

Starting July 1, 2010, many businesses offering tanning services must collect a 10 percent excise tax on the tanning services they provide. This excise tax requirement is part of the Affordable Care Act that was enacted in March 2010.

Here are nine tips on the tanning excise tax that providers must collect.

1. Businesses providing ultraviolet tanning services must collect the 10 percent excise tax at the time the customer pays for the tanning services. Read more…

The recession-era boom in the size of freshman classes at four-year colleges, community colleges and trade schools has been driven largely by a sharp increase in minority student enrollment, according to a Pew Research Center analysis of new data from the U.S. Department of Education. Read more…

The so-called green card is finally living up to its name.

For the first time since 1959, the permanent residency card, commonly known as a green card, is actually green. Read more…

Leading multicultural advertising agency sees a blurring of ethnic boundaries in a more culturally diverse nation

SOUTHFIELD, Mich., June 2 /PRNewswire/ — GlobalHue, the nation’s largest multicultural advertising agency, today revealed the results of a new U.S. survey of four major population segments, creating a comprehensive cultural map of a rapidly changing nation and providing marketers with new information on consumers in the New America.

Surveying people in African-American, Hispanic, Asian and non-Hispanic White segments, “Multicultural Nation: Divergence and Convergence in the New America,” arrives at three major findings. Read more…

The Hispanic-Serving Institutions (HSI) Program provides grants to assist HSIs to expand educational opportunities for, and improve the attainment of, Hispanic students. The HSI Program grants also enable HSIs to expand and enhance their academic offerings, program quality, and institutional stability.

Applications Available: May 13, 2010.
Deadline for Transmittal of Applications: June 14, 2010.

For more information, please see links below.

Program’s Homepage: http://www2.ed.gov/programs/idueshsi/applicant.html

Liberty Tax Service creates the first Foundation in the industry to specifically support its multi-level Corporate Hispanic financial and fiscal education initiative.

(Virginia Beach, VA) – Liberty Tax Service, the fastest-growing retail tax preparation company in the industry’s history, announced the creation of the Una Familia Sin Fronteras Foundation, the first Foundation in the industry which specifically aims to contribute to Hispanic immigrants’ success through fiscal and financial education.

Read more…

Liberty Tax Service crea la primera Fundación en la industria para específicamente apoyar su iniciativa multifacética de educación financiera y fiscal para hispanos.

(Virginia Beach, VA) – Liberty Tax Service, el proveedor de preparación de impuestos de mayor crecimiento en la historia de la industria, anunció la creación de la Fundación Una Familia Sin Fronteras, la primera Fundación en la industria que se enfoca, a través de la educación, en mejorar la calidad de vida de hispanos que viven en los Estados Unidos.

Read more…

With Mexican President Felipe Calderón coming to Washington, D.C. this week for a state visit, two recent Pew Hispanic Center fact sheets on Hispanics of Mexican origin in the U.S. illuminate key demographic characteristics of this population group.

Immigrants: No other country in the world has as many immigrants from all countries as the United States has from Mexico alone, according to a 2009 fact sheet. In 2008, 12.7 million immigrants from Mexico resided in the U.S. Of these, more than half were undocumented. Overall, 11% of everyone born in Mexico is currently living the U.S. Read more…

The complexity and inherent cultural diversity of U.S. Hispanics broadens the definition of what it is to be a Latino. No longer can Hispanics be defined according to their similarities without a thorough understanding of their differences beyond language, country of origin and level of acculturation. NBC Universal, Telemundo and Starcom MediaVest Group have deciphered the true characteristics and overall complexion of U.S. Hispanics from Beyond DemographicsTM—a Latino Identity study that began a year ago. Read more…

WASHINGTON —The Internal Revenue Service has posted on its website the newly-revised payroll tax form that most eligible employers can use to claim the special payroll tax exemption that applies to many new workers hired during 2010. Read more…

(May 12, 2010) The just-released “State of Metropolitan America” study from the Brookings Institution’s Metropolitan Policy Program portrays the demographic and social trends shaping the nation’s economic and societal metropolitan populations. The excerpt below is from the Race & Ethnicity section of the report.

The racial and ethnic profile of the United States continued its transformation in the 2000s, reflecting the combined impact of continued immigration and higher fertility rates for nonwhite groups. Read more…

Ozzie and Harriet, R.I.P.

The idealized vision of suburbia as a homogenous landscape of prosperity built around the nuclear family took another hit over the past decade, as suburbs became home to more poor people, immigrants, minorities, senior citizens and households with no children, according to a Brookings Institution report to be released Sunday.

Although the suburbs remain a destination of choice for families with children, nuclear families are outnumbered. Nationwide, 21 percent of American families are composed of married couples with children. Their ranks declined in more than half of the suburbs, including those surrounding Washington. Read more…

WASHINGTON — A crucial filing deadline of May 17 is looming for many tax-exempt organizations that are required by law to file their Form 990 with the Internal Revenue Service or risk having their federal tax-exempt status revoked. Read more…

The recession hits hardest in industries and regions where Hispanic workers are disproportionately represented, a congressional report shows.

Reporting from Washington —

Unemployment among Hispanics in the U.S. has soared since the recession hit because those workers are disproportionately employed in industries and regions hardest hit by the downturn, according to a congressional report released Wednesday. Read more…

Young athletes from the United States and Mexico will meet for a rematch in San Antonio, Texas on May 8, 2010.

Virginia Beach, VA – May 5, 2010 – Liberty Tax Service is pleased to announce their support of the Little League World Series Rematch between Mexico and the United States on May 8, 2010 in San Antonio, Texas. Read more…

Nearly two-thirds of Hispanics in the United States self-identify as being of Mexican origin. Nine of the other ten largest Hispanic origin groups—Puerto Rican, Cuban, Salvadoran, Dominican, Guatemalan, Colombian, Honduran, Ecuadorian and Peruvian—account for about a quarter of the U.S. Hispanic population.

Read more…

WASHINGTON — The Internal Revenue Service today announced it is accepting applications for new members for the Internal Revenue Service Advisory Council (IRSAC), which provides a forum for IRS officials to discuss key areas of tax administration with a broad range of tax and other relevant professionals. Read more…

By Doris Meissner
Sunday, May 2, 2010

Despite the fact that we are a nation of immigrants — or perhaps because of it — immigration continues to be one of America’s most contentious topics. The new law in Arizona authorizing police to arrest individuals who cannot show documents proving that they are in the country legally has set off a fresh bout of acrimony. But as in the past, much of the debate is founded on mythology. Read more…

WASHINGTON — The Internal Revenue Service is requesting membership nominations for the Information Reporting Program Advisory Committee (IRPAC), which provides recommendations to IRS leadership on a wide range of information reporting and administration issues. Read more…

The number of people 5 and older who spoke a language other than English at home has more than doubled in the last three decades and at a pace four times greater than the nation’s population growth, according to a new U.S. Census Bureau report analyzing data from the 2007 American Community Survey and over a time period from 1980 – 2007. In that time frame, the percentage of speakers of non-English languages grew by 140 percent while the nation’s overall population grew by 34 percent. Read more…

WASHINGTON — As a result of changes made by the recently enacted Affordable Care Act, health coverage provided for an employee’s children under 27 years of age is now generally tax-free to the employee, effective March 30, 2010. Read more…

With the passage of The Health Care and Education Reconciliation Act, President Obama’s administration takes a huge step toward making America the best educated nation in the world by 2020.

Specifically, the Act increases college access and graduation rates by making it more affordable for Hispanic students through the following means: Read more…

WASHINGTON — The Internal Revenue Service has awarded nearly $10 million in matching grants to Low Income Taxpayer Clinics (LITCs) for the 2010 grant cycle (Jan. 1 to Dec. 31, 2010).

LITCs are organizations that represent low-income taxpayers in federal tax controversies with the IRS for free or for a nominal charge, provide tax education and outreach for taxpayers who speak English as a second language, or both. Read more…

There are many records you have that may help document items on your tax return. You’ll need this documentation should the IRS select your return for examination. Here are five tips from the IRS about keeping good records.

1. Normally, tax records should be kept for three years. Read more…

WASHINGTON — The Internal Revenue Service today reminded taxpayers to review their tax returns for common errors that could result in delayed refunds. Here are some ways to avoid common tax return errors. Read more…

With the tax filing deadline close at hand, the IRS offers 10 tips for those still working on their tax returns:

1. File Electronically Consider filing electronically instead of using paper tax forms. Read more…

(Virginia Beach, VA) In addition to having a major impact on the structure of health care costs for most Americans, the recently passed health care reform act will phase in many tax consequences for individual filers starting now and continuing through 2013.

“Americans have witnessed a historic health care bill become a reality. While navigating how this will affect payments for procedures and what we’ll pay in the future, it’s prudent to evaluate what tax changes will be phased in as a result,” said John Hewitt, CEO of Liberty Tax Service. Read more…

(Virginia Beach, VA) En adición de tener un impacto mayor en la estructura de los costos de cuidados de salud para la mayoría de los americanos, el acta recientemente aprobada para la Reforma de Salud va a dar paso a muchas consecuencias de impuestos desde ahora hasta el 2013 para personas que declaran sus impuestos individualmente.

“Los norteamericanos han sido testigo de la aprobación de una reforma de salud histórica que finalmente llega a ser una realidad. Mientras analizamos cómo este cambio afectará a los pagos para los procedimientos médicos y futuros, es prudente evaluar qué cambios en impuestos serán introducidos progresivamente como resultado,” dijo John Hewitt, CEO de Liberty Tax Service. Read more…

WASHINGTON — The Internal Revenue Service today released a new form that will help employers claim the special payroll tax exemption that applies to many newly-hired workers during 2010, created by the Hiring Incentives to Restore Employment (HIRE) Act signed by President Obama on March 18. Read more…

Will you be making a payment with your federal tax return this year? If so, here are 10 important things the IRS wants you to know about making tax payments correctly.

1. Never send cash! Read more…

The National Financial Capability Challenge (NFCC), which was unveiled in December 2009 by Treasury Secretary Tim Geithner and Education Secretary Arne Duncan, is an awards program designed to increase the financial knowledge and capability of high school-aged youth across the United States.

All high school teachers (and other educators) are encouraged to sign up, prepare their students, and administer the voluntary online exam to help reach the goal of 1 million high school students taking the Challenge this year. Educators and top-scoring students in each school will earn personalized award certificates and states with the highest participation rates will also be recognized. The deadline has been extended to April 9, 2010. Read more…

Liberty Tax Service sponsored COPA JARRITOS, a fun-filled family oriented soccer festival, in Charlotte, NC, from March 26-28, attracting over 3,000 attendees.

(Virginia Beach, VA) – Liberty Tax Service, the fastest growing retail tax preparation company, was a proud sponsor of COPA JARRITOS 2010 in the Carolinas. With the participation of great soccer legends José Manuel Abundis and Fernando Schwartz, two exclusive soccer clinics for 200 promising youth athletes, a local youth tournament and other entertaining activities including many custom-made inflatable soccer games, COPA JARRITOS offered a fun soccer-filled weekend for the whole family.

Liberty Tax Service Executives and Waver Greet Attendees of Copa Jarritos 2010

Nearly half of all retired Americans today have little or no money saved. The vast majority have far less than what they will need, and are not saving and investing sufficiently to make up for the shortfall. American workers must now grapple with many questions as they consider retirement: Have I saved enough? How much will inflation erode my savings? Could I outlive my money?

401(k) plans are the primary retirement vehicle for two-thirds of large employers. When analyzing 401(k) plan participation by race and ethnicity, quantifiable differences are evident. Read more…

Findings Show “Sandwich Generation” More Likely to Help Family Cope with Financial Hardships

WASHINGTON, DC—The current economic recession has forced many Hispanics age 45+ to cope by making increasingly difficult decisions that may impact their long-term health and financial security, according to a new survey by AARP, in collaboration with the National Hispana Leadership Institute and impreMedia. In particular, many Hispanic boomers provide significant support for the health and basic needs of their children and parents – serving as members of the so-called “sandwich generation” – and find themselves stretched thin as they struggle to maintain their own finances and prepare for retirement. Read more…

Foreign-born Hispanics are more positive and knowledgeable about the 2010 U.S. Census than are native-born Hispanics, according to a nationwide survey of 1,003 Latino adults conducted March 16-25, 2010, by the Pew Hispanic Center.

Overall, seven in ten (70%) Hispanics say the census is good for the Hispanic community. However, foreign-born Hispanics are more likely than native-born Hispanics to feel this way — 80% versus 57%. Read more…

Are you expecting a refund from the IRS this year? Here are the top 10 things you should know about your refund. Read more…

With the tax filing deadline close at hand, here are the top 10 tips the IRS wants you to know if you are still working on your federal tax return. Read more…