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File for PFD Tomorrow, Remember This Tax Tip…

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Tomorrow is the last day you can file for the 2015 Permanent Fund Dividend. Roughly 675,000 Alaskans applied last year, but as of this morning, only 518,000 had filed in the annual form.

 

With the deadline for federal income taxes also just around the corner, Jim Duffield of Liberty Tax Service had an important PFD taxes reminder for parents…

 

https://radiokenai.net/wp-content/uploads/2015/01/DUFFIELD-PFD-CHANGES.mp3?_=1

Duffield: “If everybody got PFDs for the last two years, the PFDs were low enough that most folks didn’t have to file/claim their children’s income PFDs on their income taxes, but this year, because the PFDs were so high, they’re going to have to claim their child’s income on their income taxes, so prepared for that. That’s an additional form 8814 to claim children’s PFDs.”

 

The deadline for income taxes is April 15.

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