Tax Law

The IRS taxes amounts paid to an unemployed worker. The government pays money to the worker as unemployment compensation to replace lost income. During the period the unemployed worker does not...

Tax fraud refers to the act of reducing one’s tax liability through fraudulent means - that is, by lying about actual income, hiding income or assets, or general avoidance of paying the amount he...

Because unemployment benefits are taxable income, you must fill out the 1099 tax form in order to avoid tax fraud. If you have been receiving unemployment insurance in the last calendar year but...

Earning money does not always mean every dollar you earn is subject to taxation. You can shelter some of your earnings from taxation. Taxpayers protect income by claiming deductions for home loan...

IRS Form 990 is the Internal Revenue form used by nonprofit and tax exempt organizations in operation in the United States. It is considered to be an informational return that is filed annually....

Every year, citizens have to undertake the grueling process of determining how much they owe the government. Both federal and state tax codes can be confusing and hard to follow if an independent...

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...

The taxation of business entities is quite different from the taxation of individuals. In addition, applicable tax law varies according to whether the business is a sole proprietorship, a...

Federal tax Form 941 is also called the Employer's Quarterly Federal Tax Return. Small business owners typically use this form to report income tax withheld from wages, tips, Social Security and...

Poor retirement investment performance can leave you with a loss when you cash out all your investments. For a modest recovery, you can write off the loss on your 1040 Schedule A. Losses on a Roth...

United States citizens or resident aliens who live and work abroad must file a U.S income tax return. Those living in a foreign country are eligible to receive an extension of the filing deadline,...

A P11D Form is a tax form that British employers file for each employee and director of their companies, detailing all expenses paid out from the company to the individual employee. Also known as...

Form 1099 is an information return used to report income other than wages, salaries and tips. Generally, the entity paying is responsible for issuing Form 1099, although if the funds are paid to...

A limited liability company, or LLC, is a form of business entity that was created by state laws. At first, it was not recognized by the Internal Revenue Service (IRS). Today, the IRS treats most...

You can print a W-2 form online, but you can't file it with the Social Security Administration. You can print a W-2 form by going to the Internal Revenue Service website, but that form can't be...

A 1099 form must be issued at the end of a tax period in which an individual, business or other entity made a reportable transaction. A form 1099 is used to disclose income to both the Internal...

Employers are responsible for withholding social security, medicare and income tax from employee checks. The goal is to accurately estimate the employee's total liability and divide it evenly over...

Form 1099-B is a form the Internal Revenue Service provides for the reporting of brokered transactions. Any sales of stocks, bonds, futures, commodities, currencies, options or other brokered...

Taxes are the responsibility of all American citizens. By keeping good records and having all necessary documents available at the time of filing, the process can run much smoother. While it is...

As of the 2008 tax period, the Internal Revenue Service (IRS) is no longer using or accepting Form 940-EZ. Anyone who would have filed this form must now use the simplified Form 940 (see...

Businesses with a one- participant retirement plan can file the plan's annual return on Form 5500-EZ if they meet certain other additional requirements. In some respects, determining eligibility...

There are over a dozen different types of Form 1099, each for reporting a different kinds of income. These are forms used by the Internal Revenue Service (IRS) to track individual income that...

Filing a business income tax return is quite different from filing an individual income tax return. In addition, the filing process differs depending on whether your business is a sole...

Form 4868 is the form used by U.S. taxpayers to request an extension for filing their income tax return. An extension simply prevents late penalties from accruing, but not the interest. If a...

You can receive help from anyone in preparing and filing your tax returns. However, if you want someone to represent you in a tax dispute with the Internal Revenue Service, you will need to...

The process centers of the Internal Revenue Service (IRS) make corrections on math errors and can accept returns with some documents missing. If, however, you discover an error in your filing...

April 15 is the deadline to file federal taxes in the United States each year. However, many people wind up filing their taxes late for one reason or another. Nonetheless, whenever people finally...

Using the correct form to prepare your federal tax return will not only please the Internal Revenue Service, but can ensure that you pay the least amount of tax to the government. Form 1040A is a...

You tax return is not the place to change your address. But, it's important that the address on your return be correct. If it has recently changed, use the current address on your return. The best...

Form 2848 is used to authorize an individual to represent a taxpayer before the IRS. That person must be a person eligible to practice before the IRS, such as an attorney, CPA or accounting...

Filing taxes can be difficult, starting with what form you should use for your situation. If you are forgoing the use of a tax preparer this year, you may need help figuring out exactly which one...

April 15th is like d-day to many people who dread filing their taxes. It's a chore that some of us put off until the absolute last second, and then frantically try to finish before the deadline...

IRS Form W-2 is essential for most U.S. tax returns. The W-2 not only contains crucial figures such as an employee's total wages or salary and the amount withheld, it also has the employer's tax...

IRS Form 1040X is designed to allow you to amend your tax return in case your original filing was incorrect for some reason. If you uncover an error on your tax return, it is a good idea to file...

It's April 15, the deadline to mail your tax return. Do you know where to file? Getting your federal tax Form 1040 to the right processing center helps prevent penalties for late filing and speeds...

A 1099-MISC tax form is used to report payments made by a company to an independent contractor. This often includes payments to landscapers, attorneys, janitorial companies, or others who provide...

Any time an investor is paid more than $10 of dividends in a single year, that company is responsible for providing a 1099-DIV form to the investor for tax purposes. If the investor receives...

IRS Form 1099-B is an information return filed with the IRS at the end of each year. You will also provide a copy to the payer. Form 1099-B reports to the IRS the details of a brokered or bartered...

Tax time can be stressful, and dealing with the IRS causes anxiety in almost everyone. Obtaining the forms to complete your taxes can be done easily by visiting the IRS website, by visiting a...

Tax filing requirements for corporations are different than tax filing requirements for individuals. Corporations are required to use different forms, meet different deadlines, and calculate their...

IRS form 1099 covers a broad scope for reporting types of payments. In fact, there are 13 different versions of Form 1099 that you may receive or be required to submit over the course of the tax...

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...

Title 26, Section 501(c) of the United States Internal Revenue Code (26 U.S.C. § 501(c)) allows certain types of organizations to be exempt from some federal taxes. Obtaining 501c status is a...

The Internal Revenue Service issues several forms for individuals to file their taxes. One of the most common forms is the 1040 series that is for a US resident, employed, making under $100,000...

If you own a business or are involved in the legalities of your company or nonprofit organization, chances are that you are familiar with, have applied for or will need to apply for an Employer...

Form 1040X exists because everyone makes a mistake sometimes. If there is any problem with the tax return you file, whether it was your fault or someone else's, you can use 1040X to correct the...

There are 32 different version of Form 1099. Each version covers a different type of payment, from the 1099-MISC, which covers payments to independent contractors, to the 1099-INT, which covers...

If you need to apply for a taxpayer identification number and are not eligible for a Social Security number, use Form W-7. Using this number will not qualify you for Social Security benefits and...

A VAT registration number is a unique identifier given to businesses within the European Union. If a business is selling non VAT exempt goods or services and makes over £68,000 per annum in...

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...