Tax Filing

Whether you hit on a slot machine, pick the winning lottery numbers or bet on a lucky horse at the racetrack, the Internal Revenue Service mandates that you pay income tax on the money won. While...

Another April 15 has come and gone. You're worried that you may have made mistakes when filing your tax returns with the IRS. Now you wonder how long the agency has to audit your return. Not...

Not all tax preparers are created equal, but here are some secrets to make sure you get the most for your money!

Situations can arise that make it difficult or impossible to file your income tax return on time. Don't make the common mistake of simply delaying. Doing so will incur a 5 percent per month...

Schedule C is the IRS form used to claim business income and loss. Although you typically file the schedule along with the original 1040, errors made on the original schedule often force taxpayers...

You've finished your income taxes and have uncovered an unpleasant surprise: You can't afford to pay your taxes. Don't panic. The IRS won't toss you in jail for not paying all of your taxes by...

The Internal Revenue Service's form 5305-SEP, or simplified employee pension, form helps you write out the individual retirement accounts contribution agreement if you are a business owner and pay...

The Schedule C is an IRS tax return form used to report profit or loss from a business. The form is designed specifically for sole proprietorships. It is important to thoroughly read the Schedule...

Simple steps you can take to reduce the chance that you are selected for a tax audit

Filing late tax returns sounds intimidating, but is beneficial in virtually all cases. Most working citizens or those receiving some form of benefits income are required to file both federal and...

Filing taxes can be a complicated process. For those that are not paid through a weekly paycheck from an employer, filing can become even more complicated. Independent contractors and freelancers...

Filing annual tax returns is a requirement for many Americans. Individuals receiving federal benefits such as Supplemental Security Income (SSI) oftentimes wonder about the tax effect of the...

The First Time Home Buyer Tax Credit is available to all qualifying first time home buyers who purchase a new home in 2009. But did you know that if you qualify for the credit, you do not have to...

It's a common dilemma: you've completed and filed your federal tax return, but then you receive new information. Or, you make an honest mistake and leave out something important. Form 1040X is...

This article will give you step by step instructions on how to amend your 2008 tax return to immediately claim the 1st time homebuyers credit (up to $8000 that does not need to be repaid) for a...

If you're languishing beneath the burden of tax debt, you can take steps to repay the Internal Revenue Service. In fact, you must: Failure to do so may lead to wage garnishing, high interest rates...

If you have a household employee, such as a nanny or babysitter, you may be required to pay state unemployment tax. The amount of the tax, the limits on taxable wages, and the filing requirements...

Skip the mountains of tax forms and submit your state taxes online. Most states offer an online filing option at little or no charge. Filing online is secure, quick and simple. Best of all it can...

If you: *qualify financially (with an income below $42,000 for 2009), *OR are age 60 or older *OR are in the military the Volunteer Income Tax assistance Program (VITA) can help you prepare and...

If you have received a notice from the IRS for an Audit of your tax filing, you can help yourself survive by doing a few things.

Most people wait as long as possible to file their taxes. But there are also many people who know that they are due for a refund and want to get that money as quickly as possible. Filing taxes...

When you work for a company as an independent contractor, the person or company that you worked for will send you a 1099-Misc form at the end of the year rather than a W-2 form so that you can see...

Federal taxes are due by April 15th annually. If you file late you may owe penalties. In most cases you will not be required to calculate your own penalty but when you are you will use Form 2210....

You can be chosen randomly for an IRS audit. Learn what to do if the IRS audits your taxes in this free personal finance video from an experienced accountant.

Checking the status of your IRS tax refund is easy to do, whether you requested a direct deposit or check to be mailed. You will need a few required items to check the status, such as your social...

At some point, you know it's inevitable - your federal income tax return is just not going to be ready to be filed on time. Your emphasis changes from completing the return to figuring out how to...

Nowadays it is possible (and often preferable) to file both your state and federal taxes electronically, which is also known as e-filing your taxes. If you are interested in learning the specifics...

Always remember that if you are filing taxes with the IRS there is never a reason to pay an application fee or a fee for filing. But you can hire the tax preparer and pay for their service to make...

There are many ways to get free tax assistance online when filing your own taxes. The thing to remember is that you should not be giving personal information to anyone other than the IRS or a...

Minors file taxes like everyone else, but whether or not they have to file taxes is a question that is answered by a matrix put out by the IRS. Find out why a minor may have to file taxes, even if...

Ahh...Tax time again, for small business owners this can be a stressful and uncertain time of the year. Many small business owners choose to hire a tax accountant to prepare their taxes to assure...

Filling income taxes can be one of the most dreaded and confusing times of the year. The income required to file taxes is based on IRS yearly filing requirements and the income you earn for a...

As Jerry Seinfeld once said, an audit is like “the financial equivalent of a complete rectal examination.” In other words, it’s not fun. There are several ways to avoid getting audited by the...

Tax season never fails to bring about the perennial question on how to avoid tax problems. Should the taxpayer get tax help from a tax attorney, visit one of those tax booths in retail shops,...

If you own rental property you will not be filing a basic tax return. In order to file taxes yourself it is wise to use software from a tax company that can help with rental property information....

Tax time is upon us yet again and most Americans are getting all of their paperwork together to begin the arduous process of doing their taxes. Luckily, it is not really as difficult as it was...

Maybe you forgot to file taxes for a few years, or maybe you fudged the numbers a little along the way. Whatever the reasons are, you may find yourself in a dispute with the Internal Revenue...

Filing your taxes each year to the IRS can be a complicated process, but there are plenty of options available to you to receive IRS tax assistance. Here is a guide to some ways to find IRS tax help.

Do you have an overstuffed file cabinet in your house? Is it filled with manila folders that say things like 'Mortgage', 'Phone Bills', etc? Do you have every bill you received since you were...

When April 15th comes knocking people know they need to work with their tax forms to submit to the IRS. If you are looking for additional help on your Tax Forms but don't know where to turn, you...

Online tax filing has gotten easier and cheaper. Unless you have complicated items to deal with in your tax return or you are new to your own business and need a tax accountant to help you with...

Choosing the tax filing status on your income tax return will profoundly affect the amount you will deduct, owe or receive as a tax rebate. Before you pick the right tax filing status, study the...

Many people are beginning to file taxes online, and most don't realize that you can file taxes online for free. In years past, to file taxes online you had to purchase tax software, which often...

In trying economic times, people sometimes take on extra work to fill in the gaps their primary employment can't pay for. This side income is a good way to stay in the black, but unlike income...

The penalties for not filing taxes include a late filing penalty and a late payment penalty, both of which can cost up to 25 percent of unpaid taxes per month. Learn about exceptions to tax...

Chapter 7 bankruptcy is the most common form of bankruptcy that is filed for in the U.S., and its primary purpose is to give individual debtors a fresh start by discharging debts. Discover how...

There are many ways to reduce federal tax liability, including child care credit and earned income credit, which can be explained with federal tax preparation software. Find out how to reduce...

Tax relief provisions can include increasing deductions that are available to affected taxpayers, and they may relax other requirements. Learn about the relationship of tax relief provisions to...

When filing an offer in compromise, there are a few qualifications that have to be met, such as exhausting all other payment options and not being a debtor in bankruptcy proceedings. Learn about...

The purpose of state income tax is to provide the state with a revenue stream to use for public education, health and human services, and correctional or rehabilitation services. Discover how...