IRS Announces Economic Payment Schedule
The Internal Revenue Service (IRS) has recently announced that it will begin sending out more than 130 million economic stimulus rebates starting May 2. The payments will be sent out in order of the last two digits of the Social Security number used on your 2007 tax return. Learn more about the economic stimulus rebate and when you can expect to see yours!

Be aware of Common Tax Scams
Texas CPAs warn tax filers to be aware of tax scams this time of year. Con artists have come up with a variety of ways to pose as the Internal Revenue Service (IRS) and other tax services by contacting you through email or by the telephone. Become familiar with these common schemes so you don’t fall victim to identity thieves this tax season.

Choosing a Tax Preparer
When it comes to choosing a tax preparer, it’s important to find someone with the experience and skills that fit your needs. Reviewing the following frequently questions and answers can help you pick the right tax professional.

Tax Talk FAQs
It’s tax season and the Texas Society of CPAs is here to help. Click on the link above to get your tax questions answered, learn about new tax credits and deductions for the 2007 tax year and more!

Tax Tips for Members of the Military
At this time of year, people are organizing their records in preparation for filing their tax returns. This is often a challenging task, and that may be particularly true for those who are serving in the armed forces. That’s why the Texas Society of CPAs advises that anyone who is in the military or has family members that serve our country be aware of some of the special tax breaks and programs available to them.

Donating Property Can Provide Tax Relief
Cash isn’t the only way you can help your favorite charity. Many organizations accept gifts of used clothing, household items, and cars, as well as stocks, mutual funds, collectibles, and works of art. In addition to helping out the charity, making a gift of property often means you can qualify for a tax deduction, reports Texas Society of CPAs.

Tax-Deductible Donations: What You Need to Know
Americans donated an estimated $295 billion to different charities in 2006, a new record, according to “Giving USA 2007,” a report from the Giving USA Foundation. Our generosity allows us to make a difference to a wide range of worthy causes. There’s a reward for this generosity, too, because it also qualifies you to take tax deductions for your donations. Recent changes in the tax law have made a difference on which deductions you are allowed to claim, however, advises the Texas Society of CPAs.

Don't Overlook These Investment And Tax-Related Deductions
If you’re getting ready to file your 2007 tax return, you’ll want to be sure you’re taking advantage of all the deductions to which you are entitled. According to the Texas Society of CPAs, two categories of deductible expenses that often get overlooked are investment and tax-related expenses.