Certainty used to be defined as death and taxes. Now that definition takes on a whole new meaning. According to a study, car accidents increase on the tax filing deadline by about 6%. This translates into about 13 extra deaths!
What to do: Exercise special caution when driving on April 17th, the filing deadline in 2012. Also, you can stay home and avoid the post office by e-filing your return.
The tax on the investment income in excess of $1,700 (may change after 2007) of a child under age 18, based on the parents’ marginal tax rate and computed on Form 8615.