Arkansas homeowners could get an extra tax refund - KATV - Breaking News, Weather and Razorback Sports

Arkansas homeowners could get an extra tax refund

Posted: Updated:

LITTLE ROCK (KATV) - Homeowners could get an extra refund on their state taxes this year.

The American Taxpayer Relief Act of 2012 (ATRA) was signed into law by President Barack Obama on January 2. The ATRA extends individual tax deductions for mortgage insurance premiums (PMI) and tax free distributions from an IRA for charitable purposes for both tax years 2012 and 2013.

The State of Arkansas retroactively adopted those deductions. Any taxpayer who had already filed their 2012 returns but would qualify for either or both of these deductions can amend their 2012 returns using AR1000F for full year residents or AR1000NR for part year and nonresidents.

Taxpayers claiming a deduction for PMI should report the amount on Line 26 of the Arkansas Itemized Deduction Schedule, Form AR3.  Tax free distributions from an IRA for charitable purposes should be reported on Line 51 of Form AR1000F or AR1000NR.

You can get more information and download these forms by clicking here or calling (501) 682-1100 or (800) 882-9275. Phone assistance is available Monday through Friday from 8:00 a.m. until 4:30 p.m.

  • PoliticalMore>>

  • Malawi corruption suspect faces charges

    Malawi corruption suspect faces charges

    Thursday, July 24 2014 4:32 AM EDT2014-07-24 08:32:42 GMT
    The chief suspect in a government corruption scandal that has rocked the southern African nation of Malawi faces charges of fraud and money laundering.More >>
    The chief suspect in a government corruption scandal that has rocked the southern African nation of Malawi faces charges of fraud and money laundering.More >>
  • Democrats stand by senator amid plagiarism claim

    Democrats stand by senator amid plagiarism claim

    Thursday, July 24 2014 3:24 AM EDT2014-07-24 07:24:44 GMT
    Sen. John Walsh said his unattributed use of others' work in his master's thesis was not plagiarism but "a few citations that were unintentionally left out of a term paper" that he blamed in part on...More >>
    Sen. John Walsh said his unattributed use of others' work in his master's thesis was not plagiarism but "a few citations that were unintentionally left out of a term paper" that he blamed in part on post-Iraq war...More >>
  • US hails Indonesia democracy in turbulent SE Asia

    US hails Indonesia democracy in turbulent SE Asia

    Thursday, July 24 2014 3:24 AM EDT2014-07-24 07:24:09 GMT
    President Barack Obama's quick congratulation for Indonesia's election victor Joko Widodo, even as the losing candidate rejected the result, underscores Washington's intent to deepen ties with Jakarta...More >>
    President Barack Obama's quick congratulation for Indonesia's election victor Joko Widodo, even as the losing candidate rejected the result, underscores Washington's intent to deepen ties with Jakarta and...More >>