OnLine Taxes at OLT.com would like to offer free federal and free state online tax preparation and e-filing if your Federal Adjusted Gross Income is $45,000 or less, regardless of age. Direct File is now closed to new MA tax return submissions. Use tax is a 6.25% tax paid on out-of-state or out-of-country purchases that […]
It is determined based on the depreciation system (GDS or ADS) used. Once you elect not to deduct a special depreciation allowance for a class of property, you cannot revoke the election without IRS consent. A request to revoke the election is a request for a letter ruling. You can elect, for any class of […]