Child Tax Rebate -- YES, it is real!!!
Sound fiscal management and a strong economy have resulted in a state budget surplus of almost $400 million for the State of Wisconsin. Governor Walker and the State Legislature have determined that some of the surplus should be returned to taxpayers in the form of a Child Sales Tax Rebate. It is a $100 rebate for sales and use tax paid on purchases made for raising a dependent child in 2017.
Filing start date: May 15, 2018
Filing deadline: July 2, 2018
•Must have a qualified child
•A child may only be claimed by one individual
Qualified Child Eligibility
Child must be:
•Under age 18 on December 31, 2017
•A dependent* of the claimant for tax year 2017
•A Wisconsin resident on December 31, 2017
•A United States citizen
What You Need to File Your Claim
•Your Social Security number and Wisconsin residency for tax year 2017
•Your qualified child's Social Security number and date of birth
•If you choose direct deposit, we'll need your bank routing number and account number
•If you are a nonresident or part-year resident that moved out of Wisconsin in 2017, you must submit additional proof.
Give Tax Records a Mid-Year Tune-up this Summer
IRS Summertime Tax Tip 2013-23
During the summer, you may not think about doing your taxes, but maybe you should. Some of the expenses you've paid over the past few months might qualify for money-saving tax credits or deductions come tax time. If you organize your tax records now, you'll make tax filing easier and faster when you do them next year. It also helps reduce the chance that you'll lose a receipt or statement that you need.
Here are some tips from the IRS on tax recordkeeping.
You should keep copies of your filed tax returns as part of your tax records. They can help you prepare future tax returns. You'll also need them if you need to file an amended return.
You must keep records to support items reported on your tax return. You should keep basic records that relate to your federal tax return for at least three years. Basic records are documents that prove your income and expenses. This includes income information such as Forms W-2 and 1099. It also includes information that supports tax credits or deductions you claimed. This might include sales slips, credit card receipts and other proofs of payment, invoices, cancelled checks, bank statements and mileage logs.
If you own a home or investment property, you should keep records of your purchases and other records related to those items. You should typically keep these records, including home improvements, at least three years after you have sold or disposed of the property.
If you own a business, you should keep records that show total receipts, proof of purchases of business expenses and assets. These may include cash register tapes, bank deposit slips, receipt books, purchase and sales invoices. Also include credit card receipts, sales slips, canceled checks, account statements and petty cash slips. Electronic records can include databases, saved files, emails, instant messages, faxes and voice messages.
If you own a business with employees, you should generally keep all employment-related tax records for at least four years after the tax is due, or after the tax is paid, whichever is later.
The IRS doesn't require any special method to keep records, but it's a good idea to keep them organized and in one place. This will make it easier for you to prepare and file a complete and accurate return. You'll also be better able to respond if there are questions about your tax return after you file.