Federal Taxes

Serving on a jury is considered one of the highest forms of civic duty, and while that may be the case, your jury pay is not exempt from taxes and must be claimed as income.

Paying your own taxes is one of the hard things about being self-employed, but the task itself is not difficult. The difficulty is in being self-disciplined enough to save the money. Paying taxes...

Adopting a child is often an expensive and lengthy process. The cost alone can make it prohibitive for some families to attempt. Before deciding that you can't afford to adopt you should know...

Employees and independent contractors are both responsible for paying the same income taxes, but they treated differently by the IRS when it comes to paying payroll taxes. Payroll taxes are also...

Federal income taxes must be paid on an annual basis and are based roughly on how much income you have earned during the year. According to the Tax Policy Center, the federal government collected...

The federal personal income tax system in the United States is a progressive tax, meaning that higher income levels are taxed at higher rates. For example, in 2009, the first $8,350 for singles is...

The Internal Revenue Service provides free copies of past years' tax returns, or of tax account or income information, in response to a simple request form. To file a request, the individual or...

If Find yourself knee deep in tax debt, with penalties and interest continuing to stack up, it may be time to hire a Tax Debt Attorney. Before you do that you should education yourself on your...

For most people, estimated federal IRS tax payments are made by their employers by withholding money from their paychecks so they do not have to make estimated tax payments. People who work as...

Employers in the United States are required to have their employees file a W-4 form to determine how much money the company needs to withhold from each paycheck to meet the employee's estimated...

Waiting on your tax return check can be like waiting for water to boil. If you filed your tax return electronically, you can check its status 7 days after filing with the Internal Revenue Service...

Electronic filing of your federal income tax form is so easy most anyone can do it, and it speeds up getting your tax refund if you have one coming. Online programs available through Free File...

When you pay a bill late, there's a chance it will appear on your credit report. A late tax filing won't show up in the same manner, but that doesn't mean it can't hurt your credit score.

President Obama's tax-relief program is meant to be a comprehensive reform of the tax system. It places more of the burden on wealthier taxpayers and less on the middle classes and the poor. It...

Nonprofit organizations are required to have a valid taxpayer ID number to file a federal income tax return. Nonprofit organizations are considered a business and must apply for an EIN or Employer...

The IRS charges interest on taxes not paid by the due date, even if they've granted you a filing extension. They also charge interest on penalties imposed for the failure-to-file, underpayments,...

You may need to obtain a U.S. taxpayer ID if you don't have a Social Security number. These IDs are referred to as ITINs, or Individual Taxpayer Identification Numbers. These nine-digit codes are...

Whether you lost your tax bill or just need to get an updated copy for your records, requesting an IRS bill is a fairly straightforward process. Getting a copy of a bill usually only requires that...

As more boomers reach retirement age--or early retirement age, thanks to economic conditions--more questions pop up concerning one of what Ben Franklin called life's two certainties: Taxes (the...

In 2008 the U.S. government offered first-time homebuyers a credit of up to $7,500. This credit was like an interest-free loan that must be repaid over 15 years. The American Recovery and...

The Internal Revenue Service requires employers to withhold money from their employees' paychecks during the year to pay for their federal taxes. Each employee must complete a W-4 form that states...

Like most organizations, the Internal Revenue Service wants to collect payment when you owe it money, but you may not be aware of an outstanding debt to the agency. If you think this might be the...

The IRS requires that employers withhold part of your paycheck to pay for your taxes at the end of the year. All employees have to file a W-4 form that tells the employer how many exemptions you...

The Taxpayer Advocate Service (TAS) is designed to help taxpayers who are experiencing an economic hardship, a delay caused by the IRS or who were given incorrect information by an IRS...

Stimulus checks are checks the government sends out that are not taxable. Individuals can use the money as they see fit. There are a few qualifications that one must meet in order to be eligible...

Apply for a tax identification number (TIN) if you are administering an estate. A TIN is also known as an employer identification number (EIN). This is a nine-digit number that is issued by the...

The Self-Employment Contributions Act (SECA) tax is the Social Security and Medicare tax paid by self-employed individuals who file Schedule C and farmers who file Schedule F with their IRS Form...

The federal government brought in about 45 percent of its revenue from personal income taxes in 2008, according to the Tax Policy Center. To determine how much you owe, you need to know how much...

A tax lien allows the federal government to seize your property or assets to pay off an outstanding tax debt. If you receive a tax lien, your house, vehicles, investments, retirement accounts, or...

The Internal Revenue Service's Offer in Compromise program was established to be in the best interest of the taxpayer and the government. It promotes voluntary compliance with future tax payments...

Employers withhold part of their employees' paychecks as a prepayment to the Internal Revenue Service of tax that will be owed at the end of the year. The withholding amount is usually calculated...

The last organization to which you want to be indebted is the government. The Internal Revenue Service has the power to garnishee wages, place liens on personal property, or at the very worst,...

If you accidentally understate (or overstate) earned income on your federal tax return, you must file a Form 1040X, also known as an amended return. Make sure to file this amended return as soon...

Most people like the word "taxes" as much as they like a smack in the face. If you do find yourself in arrears on taxes with the federal Internal Revenue Service, there's no need to move to...

You may have seen commercials on television for attorneys and tax preparation services offering to help people settle their IRS debt, but you probably thought that you would never need a service...

There are few surprises as unpleasant as discovering that you can't afford to pay the taxes you owe to the IRS. If you can't pay your taxes by April 15, you will be hit with penalties and interest...

During the year, your employer withholds money from your paycheck based on what you are expected to earn for the year and how much tax you will owe. However, because of various deductions and...

When the Internal Revenue Service becomes convinced that a taxpayer doesn't have the financial wherewithal to pay a large tax debt in full, the government will consider accepting a compromise...

An "IRS lien" is a term used to refer to the Internal Revenue Service placing a claim against your home or other property that you own because you failed to pay your federal taxes.

IRS problems are extremely unsettling. While you are likely to feel panicked and overwhelmed, following the steps below will assist in solving your tax issues in a timely fashion. Do not let a...

How to Prepare and File Your Own Tax Returns Using TurboTax. Many people consistently pay accountants to file their tax returns for them without realizing how simple it is to do on your own with...

The federal estate tax is levied on the assets of individuals after their death. The tax is controversial and subject to frequent change by the U.S. Congress. The tax is based on what is called...

According to the Federal Citizen Information Center, an Internal Revenue Service tax audit is an impartial review of your tax return to determine its accuracy. Your chances of being audited are...

Taxpayers are often quite anxious to get their income tax refund once they have filed the return. Many people plan on this money for a purchase or maybe to help with cash flow issues they could be...

Social Security, the federal income-support program for retirees, the disabled and the survivors of deceased workers, is financed with payroll taxes on every American worker and employer. However,...

If you are able to claim one or more children on your tax return it will make a big difference in how much income tax you owe. Besides providing an additional exemption for each child, dependent...

The federal tax system is a pay as you go system, meaning that as you earn income, money is set aside by your employer to pay your estimated tax bill at the end of the year. Many times, because of...

In 1990, FICA tax was split into separate wage bases for social security and Medicare taxes. Many people still refer to the two taxes collectively as FICA. There is no limit to the wages Medicare...

The Federal Insurance Contributions Act (FICA) tax paid by employees and employers funds the Social Security retirement, survivor's and disability insurance programs, as well as the Medicare...

Throughout the year, most people have money withheld during the year to pay their anticipated tax bill. However, this amount is only an approximation of what you are expected to owe, not an exact...