Changes impacting your taxes and this year's refund from Uncle Sam

Woman handing out money

(ARA) — In the way of tax legislation, 2011 was a relatively quiet year. However, that doesn't mean there aren't tax law changes that will affect this year's tax returns.

"The changes enacted at the end of 2010 will still impact this year's and next year's federal tax returns," says TaxACT spokesperson, Jessi Dolmage. "With the debate over the federal budget and taxes unlikely to end any time soon, who knows if the soon-to-be expired tax breaks will be extended. So, take advantage of all your benefits while you still can."

Three out of four taxpayers receive a federal refund, and last year's average refund totaled $2,805. To help you maximize your refund, here are some tax law changes you should know about before filing this year's return.

With so much of your hard-earned money at stake and our complex tax law, it's no wonder a growing number of Americans use tax preparation solutions. "Trusted solutions like TaxACT navigate all the tax law changes for you to help maximize your refund, file a return that's 100 percent accurate and provide help when you need it," says Dolmage.

When choosing a tax preparation solution, especially free products, Dolmage warns you to carefully weigh your options. "TaxACT Free Federal Edition covers all 1040 returns, but other free programs are only for 1040EZ returns, sometimes referred to as 'simple returns'. The nearly nine out of 10 taxpayers who have more complex returns don't qualify for those."

For information about these and other tax law changes affecting this year's tax return, visit www.irs.gov and www.taxact.com/taxinfo. Learn more about TaxACT Free Federal Edition for both simple and complex returns at www.taxact.com.

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Upcoming Tax Dates

July 1 Occupational excise taxes
File Form 11C to register and pay the annual tax if you are in the business of accepting wagers.

July 4 Everyone
Federal Holiday (Independence Day) - Details

July 10 Employees who work for tips
If you received $20 or more in tips during June, report them to your employer - Details

July 10 Communications and air transportation taxes under the alternative method
Deposit the tax included in amounts billed or tickets sold during the first 15 days of June.

July 14 Regular method taxes
Deposit the tax for the last 15 days of June.

July 15 Social security, Medicare, and withheld income tax
If the monthly deposit rule applies, deposit the tax for payments in June.

July 15 Nonpayroll withholding
If the monthly deposit rule applies, deposit the tax for payments in June.

July 27 Communications and air transportation taxes under the alternative method
Deposit the tax included in amounts billed or tickets sold during the last 15 days of June.

July 29 Regular method taxes
Deposit the tax for the first 15 days of July.

July 31 Social security, Medicare, and withheld income tax
File Form 941 for the second quarter of 2015. Deposit or pay any undeposited tax under the accuracy of deposit rules.

July 31 Certain small employers
Deposit any undeposited tax if your tax liability is $2,500 or more for 2015 but less than $2,500 for the second quarter.

July 31 Federal unemployment tax
Deposit the tax owed through June if more than $500.

July 31 All employers
If you maintain an employee benefit plan, such as a pension, profitsharing, or stock bonus plan, file Form 5500 or 5500EZ for calendar year 2014. If you use a fiscal year as your plan year, file the form by the last day of the seventh month after the plan year ends.

July 31 Form 720 taxes
File Form 720 for the second quarter of 2015.

July 31 Wagering tax
File Form 730 and pay the tax on wagers accepted during June.

July 31 Heavy highway vehicle use tax
File Form 2290 and pay the tax for vehicles first used in June.

View More Tax Dates