Tax Law

Spouses who are married but living in different states must consider the implications of both federal and state options for filing taxes. A spouse may have to file and pay taxes even if he did not...

If you need IRS debt relief, you can either choose to settle your debt on your own (if the amount you owe is less than $10,000), or hire a tax professional. Either way you go, you will have the...

When you have a TAX DEBT that you owe the IRS that you cannot pay off in one full payment you will need to understand the Payment options that the IRS offers. The IRS offers several payment...

When someone dies, a personal representative with authority over the person's financial affairs must take responsibility for filing the deceased person's final income tax returns, along with a tax...

A not for profit organization (NPO) organized under federal law permits an individual or group of individuals to do some charity while obtaining an exemption from federal (and maybe a number of...

IRS wage garnishment procedures are usually taken against individuals who owe large amounts of back tax payments to the government. The IRS will contact your employer to start the process of...

President Obama signed the American Reinvestment and Recovery Act of 2009 on February 17, 2009. In addition to a bevy of other tax credits and funds for infrastructure projects, this Act extended...

If you owe money to the IRS and feel that you are in over your head, you are probably wondering how to go about locating and hiring IRS tax lawyers. This can easily seem like a daunting task, as...

Federal regulations require that a fiduciary of an estate or trust file a tax return on behalf of the estate or trust with the Internal Revenue Service. Such a return must report income or losses...

From time to time many people find themselves in trouble with the IRS. A tax lien is simple to take care of if you pay attention to your situation.. By doing the proper research and moving forward...

The IRS has complex rules for determining how much money you can contribute each year to your IRA on a tax-deductible basis. This article explains how to figure your maximum deductible IRA...

Organizations that meet Internal Revenue Service nonprofit standards operate without paying corporate income tax on revenue generated through activities related to the group's nonprofit purpose....

If you owe back taxes to the IRS, you may qualify for a compromise agreement to settle your outstanding bill. To reach a settlement agreement you will have to submit an Offer in Compromise. The...

You owe taxes, and the Internal Revenue Service has notified you it will place a levy on your bank account or other assets. Don't panic. If you act quickly, you can stop the IRS from draining your...

We are all faced with economic challenges, especially in these tough times---but what if one of these challenges involves the IRS? You have found yourself behind in your income taxes and not sure...

Compute your corporate income tax with IRS Form 1120. Remember that the IRS is likely to calculate your corporate income in a different way than your accountant calculates it. Below is a...

There are several ways to avoid inheritance tax in the United Kingdom. Perhaps the best way is to create a family trust. A family trust is not particularly difficult to establish; nevertheless,...

If your corporation is registered as an S corporation with the IRS, it has no tax liability. Other types of corporations are subject to federal corporate income tax using IRS Form 1120. Care is...

Calculating your U.S. tax liability can be relatively simple or very complex, depending on your income and the number and complexity of your financial transactions. Nevertheless, it pays to get it...

A change in 1996 in the Internal Revenue Service regulations section 6109 mandated the use of a Taxpayer Identification Number (TIN) on tax returns. The three main types of TIN's are the Social...

Anyone who lives in Florida knows how ridiculous the property tax system us. Charlie Crist failed miserably with his campaign promise to drop taxes like a rock, few saw any improvement and new...

Whenever a financial institution cancels all or some of the debt you owe, you are issued a 1099-C, reflecting the amount that was settled or cancelled. A financial institution can also issue a...

The tax implications of being classified as an employee or a self-employed independent contractor are significant. Companies do not have to pay taxes and other costs for independent contractors...

Reporting people and companies to the Internal Revenue Service (IRS) who have committed tax evasion and where the amount owed and collected by the Internal Revenue Service (IRS) is over...

If you have decided to use the accrual accounting method for tracking your business expense and income, you will find that there are tax preparation benefits and a couple of potential cash flow...

An estimated 20 million non-resident aliens live in the United States today. Given their large presence, the Internal Revenue Service has amended its policies to include these individuals. While...

If you've had to use the services of a tax consultant to help you understand or prepare your taxes, you can deduct the consultation fee from your taxes through filing an itemized tax return....

It's hard to determine whether you're coming or going, paying or owing when wading through a mountain of papers from the Internal Revenue Service. To top it off, opening your mailbox only to find...

Free File is a service offered through the Internal Revenue Service which allows taxpayers to file their taxes online for free. You must have an adjusted gross income of $52,000 or less to...

Did you know that you could deduct the amount you paid your accountant last year in tax preparation fees on your current year's tax returns? the Internal Revenue Service allows taxpayer to deduct...

The tax deadline is rapidly approaching and you noticed that you do not have all of the necessary documentation to file your business taxes. The reason for the delay may be out of your control,...

There are many reasons why individuals are not able to file their taxes in a timely fashion. For some it is procrastination, for others it's because the "dog ate their homework," and for some it...

If you are serious about being able to deduct professional association dues and fees from your taxes, you must be organized. The deduction is not only for business owners. Employees are able to...

If you believe your company will suffer a net operating loss for the current tax year and wish to have an extension for paying taxes owed for the year, you may file Form 1138 to help ease your...

Filing tax returns for a partnership can be complicated. Therefore, it is important to have all of the necessary forms to accompany the tax return. If you find that you are missing documentation...

If you are a Partnership, an REMIC (Real Estate Management Investment Conduit), or are managing certain trusts and require additional time to file your taxes, the IRS has a form especially for...

The Internal Revenue Service has many tax filing extension forms for people who just can't seem to be able to meet the tax deadline date. If you are one of those individuals, it is important for...

US citizens who earn money overseas while living outside of the United States are not excused from filing and paying taxes. The Internal Revenue Service has a special form for citizens living and...

There are times in everyone's life when things just don't go as planned. You plan to file your taxes on time—but for one reason or another, you need more time. In addition to requesting additional...

A corporation can apply for an extension on filing their tax returns by way of Form 7004. If you think you may need the extra time, don't wait. Be proactive and file extension Form 7004 as soon as...

American citizens, no matter where they reside, are subject to filing and paying their taxes by the tax deadline date. If you are out of the country, you are not excused from filing and paying...

Businesses, just like individuals, must file their taxes on time. It's imperative that all of the appropriate information documents accompany the tax returns. If not, the Internal Revenue Service...

Every year on April 15th television news cameras and reporters set up in post offices around the country to get interviews and pictures of last-minute filers. Whether they are professional...

Many people end up paying unnecessary penalties for filing late taxes. Other people spend their day at the post office on the 15th of April because they waited until the last minute to prepare...

April 15th is the deadline for filing both state and federal taxes. Although everyone must file and pay taxes on that date, you can file an extension to pay taxes. Here's how file an extension for...

The best way to handle a missed tax deadline is to deal with it immediately. Procrastinating only makes the situation worse. You'll end up paying more in late payment fees, late filing fees and...

If you forget to file your federal taxes on time, you might be subject to penalties. You can avoid trouble by paying your taxes and filing for an extended deadline with the IRS.

There's something about being asked to defend your tax deductions that strikes fear into the hearts of taxpayers. Defending deductions to the IRS doesn't have to be impossible or scary. Consider a...

The Internal Revenue Service was once virtually immune from lawsuits, even when it engaged in questionable practices. While this has changed, it is still difficult to sue the IRS. However, if you...

An audit from the Internal Revenue Service (IRS) is not something that anyone happily anticipates, but audits are a reality for many taxpayers. If you are unfortunate enough to have to fight an...