Amended tax returns must be filed within 3 years of the due date of the original return or within 2 years of the date you paid the tax, whichever is later. Amended tax returns cannot be filed electronically.

If your name is misspelled on your tax return you can call 1-800-829-1040 and correct it over the phone!

Interest from Series E and Series EE and Series I savings bonds when more than $400 in total table interest for the year is reported on Schedule B of Form 1040.

A timeshare unit that is used as home can be rented for fewer than 15 days during the year without including any of the rent in your income. Likewise, do not deduct any of the rental expenses.

Commissions and fees for the acquisition or sale of an asset are added to the basis of that asset and are not deductible.

Transportation costs primarily for and essential to medical care qualify as medical expenses. The actual fare for a taxi, bus, train, or ambulance can be deducted. If you use your car you can deduct the standard mileage rate of 13 cents a mile. You may include tolls and parking fees.

What if two taxpayers choose the same PIN number for e-filing? In that case the personal information (Social Security Number, Date of Birth and original Adjusted Gross Income from the 2001 tax return) is also used to verify your identity.

Have you marked your calendar for the dates of the remaining Estimated Tax payments?  June 16th, and September 15th of 2003 and January 15, 2004.

Haven't received that much anticipated refund check yet from the IRS? You can check on the status of your refund by calling the toll-free IRS TeleTax System at 1-800-829-4477. You will need the first Social Security number shown on the return, your filing status and the amount of the refund.

Are you aware that your estimated tax payments can be made electronically? There are two primary payment methods, EFTPS-Direct and EFTPS-Through a Financial Institution. To enroll in the electronic federal tax payment system, call 1-800-555-4477 or go to http://www.eftps.gov.

Recent changes

Effective June 13, 2002 the Washington State Legislature passed an act which impacts business and other organizations, relating to the disposal of personal identification information. This is in an effort to protect against identity theft and to guard a person's privacy and financial security. Failure by a commercial, governmental or other entity to destroy personal information can result in legal and monetary penalties. Destroy means shredding, erasing or otherwise modifying personal information in records to make it unreadable or undecipherable through any reasonable means. For further information, refer to S.H.B. 2015, enacted 2002.

The Social Security Administration has changed a ruling on retirement benefits for employed beneficiaries under the age of 65. The prior wage limit of $10,680 has been raised to $11,280 as the amount you can earn without a $1 reduction in retirement benefits for every $2 earned.

A fool and his money are soon parted. The rest of us wait until income tax time!