CPA Patel

Forms & Resources

Track Your Refund

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

Check Federal RefundCheck Federal Refund

Tax Due Dates

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

February 10 Employees – who work for tips. If you received $20 or more in tips during January, report them to your employer. You can use Form 4070.
February 18 Individuals – If you claimed exemption from income tax withholding last year on the Form W-4 you gave your employer, you must file a new Form W-4 by this date to continue your exemption for another year.
Businesses – Give annual information statements to recipients of certain payments made during 2013. You can use the appropriate version of Form 1099 or other information return.
February 28 Businesses – File information returns (Form 1099) for certain payments you made during 2013. These payments are described under January 31. There are different forms for different types of payments. Use a separate Form 1096 to summarize and transmit the forms for each type of payment. See the General Instructions for Certain Information Returns for information on what payments are covered, how much the payment must be before a return is required, what form to use, and extensions of time to file.

If you file Forms 1097, 1098, 1099, 3921, 3922 or W-2G electronically (not by magnetic media), your due date for filing them with the IRS will be extended to March 31. The due date for giving the recipient these forms will still be January 31.

Tax Rates

2014 Tax Rates – Single Taxpayers – Standard Deduction $6,200 2013 Rates
10% 0 to $9,075
15% $9,075 to $36,900
25% $36,900 to $89,350
28% $89,350 to $186,350
33% $186,350 to $405,100
35% $405,100 to $406,750
39.6% Over $406,750
2014 Tax Rates – Married Jointly & Surviving Spouses – Standard Deduction $12,400
10% 0 to $18,150
15% $18,150 to $73,800
25% $73,800 to $148,850
28% $148,850 to $226,850
33% $226,850 to $405,100
35% $405,100 to $457,600
39.6% Over $457,600
2014 Tax Rates – Married Filing Separately – Standard Deduction $6,200
10% 0 to $9,075
15% $9,075 to $36,900
25% $36,900 to $74,425
28% $74,425 to $113,425
33% $113,425 to $202,550
35% $202,550 to $228,800
39.6% Over $228,800
2014 Tax Rates – Head of Household – Standard Deduction $9,100
10% 0 to $12,950
15% $12,950 to $49,400
25% $49,400 to $127,550
28% $127,550 to $206,600
33% $206,600 to $405,100
35% $405,100 to $432,200
39.6% Over $432,200
2014 Tax Rates – Estates & Trusts
15% 0 to $2,500
25% $2,500 to $5,800
28% $5,800 to $8,900
33% $8,900 to $12,150
39.6% Over $12,150

 

Social Security 2014 Tax Rates
Social Security Tax Rate: Employers 6.2%
Social Security Tax Rate: Employees 6.2%
Social Security Tax Rate: Self-Employed 12.4%
Maximum Taxable Earnings $117,000
Medicare Base Salary Unlimited
Medicare Tax Rate 1.45%
Additional Medicare Tax for income above $200,000 (single filers) or $250,000 (joint filers) 0.9%
Medicare tax on net investment income ($200,000 single filers, $250,000 joint filers) 3.8%

 

Miscellaneous 2014 Tax Rates
Personal Exemption $3,950
Business expensing limit: Cap on equipment purchases $200,000
Business expensing limit: New and Used Equipment and Software $25,000
Prior-year safe harbor for estimated taxes of higher-income 110% of your 2014 tax liability
Standard mileage rate for business driving 56 cents
Standard mileage rate for medical/moving driving 23.5 cents
Standard mileage rate for charitable driving 14 cents
Child Tax Credit $1,000
Unearned income maximum for children under 19 before kiddie tax applies $1,000
Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket 0%
Maximum capital gains tax rate for taxpayers above the 15% bracket but below the 39.6% bracket 15%
Maximum capital gains tax rate for taxpayers in the 39.6% bracket 20%
Capital gains tax rate for unrecaptured Sec. 1250 gains 25%
Capital gains tax rate on collectibles 28%
Maximum contribution for Traditional/Roth IRA $5,500 if under age 50
$6,500 if 50 or older
Maximum employee contribution to SIMPLE IRA $12,000 if under age 50
$14,500 if 50 or older
Maximum Contribution to SEP IRA 25% of eligible compensation
up to $52,000
401(k) maximum employee contribution limit $17,500 if under age 50
$23,000 if 50 or older
Estate tax exemption $5,340,000
Annual Exclusion for Gifts $14,000

 

Education 2014 Tax Rates
American Opportunity Credit (Hope) $2,500
Lifetime Learning Credit $2,000
Student Loan Interest Deduction $2,500
Coverdell Education Savings Contribution $2,000

 

Standard Meal Rates for Family Child Care Providers for 2014 income tax returns
Continental U.S. 2014 Tax Rates
For each breakfast $1.27
For each lunch or supper $2.38
For each snack (up to 3 per day for each child) $0.71
Alaska 2014 Tax Rates
For each breakfast $2.03
For each lunch or supper $3.86
For each snack (up to 3 per day for each child) $1.15
Hawaii 2014 Tax Rates
For each breakfast $1.48
For each lunch or supper $2.79
For each snack (up to 3 per day for each child) $0.83