Odds & Ends

1. Medicare $250 checks will begin being sent mid-June.
   
2. Starting July 1st the 10% excise tax on indoor tanning services begins. If you pay a separate fee for tanning, either to a business or at part of your Gym you will be subject to the tax. If your Gym offers it as an “included” service there will be no extra tax and as always any medical reasons will not be subject to the tax or the “spray-on” services.
   
3. As of 6/22/10 there will be no extension of the closing date for the First Time Homeowners Credit. You will need to close by June 30th, 2010. You do however, have until April 15th, 2014 to amend or file for the credit.
   
4. Processing Time:
   1040 Paper Return – 12 wks
   1040X (Amended) – 12 wks
   1040 e-file – 3 wks
5. The IRS will either charge or pay 4% interest on underpayments or overpayments.
   
   Need to do a “Mid-Year” tax check up? Give a call, no charge.
   
   Army Post Accounting 515.285.5544