WHAT’S NEW FOR THE 2008/2009 Tax Season
E-file for individuals via our web site Tax Tool. The cost is $3.00.
Use of the Tax Tool
If you filed a 2007 Saginaw income tax return, you may use the Tax Tool to prepare and e-file or print your 2008 Saginaw resident or non-resident income tax return. If you did not file a 2007 return Saginaw income tax return, you may not use the tax tool.
Limitations on the Use of the Income Tax Tool
The Tax Tool is intended for simple tax returns and may not be used in the following situations:
- If you have more than (1) separate business entity reporting income or loss on the federal Schedule C, Profit or Loss from Business.
- If you have any rental or royalty properties listed on Federal Schedule E.
- If you report any Partnership or S Corporation income or loss on Federal Schedule E.
- If you report any Estate or Trust income or loss on Federal Schedule E.
- To file an amended return.
- To prepare returns for any other city.
WHAT’S NEW ON THE 2008 - 1120 AND 1065 SAGINAW FORM
Corporations and Partnerships can now donate to the Saginaw Fireworks on the S-1120 or S-1065 form.
Corporations and Partnerships can now pay tax due or receive a refund via electronic transfer.
Added authorization to both the Corporate and Partnership return to discuss the information on the return with the tax preparer.
Partnerships can now credit refunds forward to the next year.
WHAT’S NEW ON THE 2008 - 1040 SAGINAW FORM
- Moved “Residency Status” to underneath the Mailing Address. Also added explanations of who would qualify under each status.
- Changed the heading in the Income section, 2nd Column to read “Not Subject to Tax” instead of “Exclusions”. Also changed the 3rd Column to “Subject to Tax” instead of “Income Subject to Tax”.
- Added on form after line 27, Payments and Credits (If line 27 exceeds $100 see instructions for making estimated tax payments).
- Line 31 now reads “Total payments and credits. Add lines 28 through 30”.
- Line 32 is “Tax Due” you will enter the amount of tax due if there is a balance due on this line.
- Line 33 is “Overpayment”
- Line 34 is “Credit to 2009” enter any amount the taxpayer wants credited to the tax year 2009.
- Line 35 is “Donation” here is where you will enter any donations to the Fireworks.
- Line 36 is “Refund” enter total amount of refund due to the taxpayer.
- Line 37 is “Electronic Refund Or Payment Information” use if the taxpayer wants their refund or balance due to be deposited or withdrawn from their checking or savings account.