Federal Taxes

If you are self-employed or have a small business that uses the Internet for business purposes, you can deduct the monthly cost of the Internet service on your federal tax return. Deductions...

Social Security disability payments are taxable and should be included on your income tax returns, but most people who receive disability benefits pay little or no taxes.

It's tax time again. Time to prepare and file your tax return and hopefully receive a large tax refund. Unfortunately, many Americans are not receiving the full refund owed to them because they...

The sale of an asset used for business purposes, such as a home that is rented for income, is reported on IRS Form 4797--Sale of Business Property. If there was any rental activity in the year the...

The Internal Revenue Service allows people who have suffered losses on their house, whether from natural disasters, vandalism or theft, to claim a tax deduction for part of their losses. To claim...

During tax time, most want to have an idea of their refund or liability before they file their returns. This article can assist in estimating your federal income tax position. Of course, your...

The IRS can grant a taxpayer CNC (Currently Not Collectible) Status, when the taxpayer is found unable to pay his/her tax debt. Once a taxpayer is granted CNC status, the IRS must stop all...

Settlements involving drugs, such as Ortho Evra, may be partially or fully taxable, depending on what the settlement covers. Because of the potential legal consequences for failing to report your...

The United States employs a pay-as-you-go tax system whereby individuals and corporations are expected to pay their income tax as they earn income. At the end of the tax year, taxpayers are...

Instead of squandering your tax refund on gadgets you really don't need and vacations you don't have to take, follow a different approach and spend it wisely this year.

The IRS recognizes two types of trusts for tax purposes: grantor trusts and irrevocable trusts. The income of a grantor trust is taxed as the grantor's personal income, and no separate tax...

If you have an IRS lien on your house, it means that the IRS has a legal right to claim part ownership of your home. The amount of the lien depends on how much you owe the IRS.

Wondering where your tax refund is? Wonder no more! There is a simple way to check and find out the status of your refund right away! This short step by step instruction will guide you directly...

Everyone has their W-2 forms in their hands and cannot wait to run down to the nearest income tax filing office and file for the rapid refund. All this year they have done without this money, but...

Retirement income is taxed at the ordinary income tax rate of the individual. This means that a person's tax rate depends on the amount of money earned that year, whether it be from a pension,...

Most U.S. citizens pay some type of federal income tax. Usually, the onus is on your employer to withhold taxes from your check every pay period. Federal taxes levied against your wages include...

Tax rules are complex, and there is no simple formula to calculate your income tax deduction. You need to first calculate your adjusted gross income using the Internal Revenue Service's Form 1040,...

If you are one of the lucky few who considers tax time to be fortunate because you usually receive a refund, you're probably anxious to know when yours will arrive. The IRS allows you to check the...

It's tax time. Don't make doing your taxes stressful, follow these easy tips to maximize your income tax return.

Most people hate it when tax time rolls around, but there are several things you can do to reduce your overall tax liability and to reduce the painful surprise of a tax bill next year.

The Internal Revenue Service expects all taxpayers to pay the full amount of tax owed on or before the April 15 deadline. If the tax is not paid, the IRS will take enforcement action which...

Back taxes are typically not eligible to be removed or "discharged" under bankruptcy, but there are some circumstances that can allow a discharge to happen if particular rules are met.

The Internal Revenue Service expects all taxpayers to pay tax as they earn income. This is known as a "pay as you go" tax system. Taxpayers who earn wages are expected to have tax withheld from...

Federal income taxes must be paid on income, and copyright publishing royalties for art, photography, music, or writing are no exception. If you write online, or write music, are an artist or a...

Every year Federal tax credits change, so it's important to research current income tax laws before filing income tax returns. Follow the steps below to find Federal tax credits.

Although the phrase "tax ID number" might sound a little scary, it is really just a number that is assigned for identifying individuals and businesses to the IRS. For an individual, the Tax ID...

If you file your taxes electronically and anticipate receiving a RAL or refund anticipation loan through a bank there are certain circumstances where you may not get your full refund.

Paying taxes is painful no matter what you do. Each time you look at your paystub a hole begins to form in your soul. But nothing is as bad as having to owe taxes at the end of the year. That's...

Many state and local governments impose a sales tax as a means of generating additional revenue. If you choose to itemize your deductions, you may be able to deduct the money that you paid in...

Due to the Mortgage Forgiveness Debt Relief Act of 2007, taxpayers with a foreclosure can exclude the income from the discharge from being included in net income. This applies to debt forgiven in...

Each worker fills out a w-4 form at the beginning of employment to determine how much tax is taken out of each paycheck. The number of exemptions or allowances claimed on the w-4 form should...

If you're self-employed, the last thing you want to think about is taxes, but they are inevitable. The best thing to do is find deductions and tax credits that fit your situation. One deduction...

The EFTPS is a website which is operated and managed by the US Department of Treasury to help the self-employed and other small business owners electronically pay their taxes in a easy and...

If you owe back taxes and the IRS files a lien on your property, it can be a scary proposition. However, there are steps you can take remove the lien and get back on track. The trick is acting...

If you need IRS tax resolution because you owe more taxes than you can pay, one solution is a payment plan. An IRS payment plan lets you pay your tax bill monthly, over time. It's a resolution to...

It is so much more convenient to file your taxes online than it is to go to a tax agency or mail them in yourself. Not only is it easier, but you get your refund a lot faster. However, you want to...

Tax filing help Tax help is available for free or at a discount in many communities throughout the country. Not having the proper paperwork available can create an inaccurate tax return. Delaying...

Keeping more of the money you have worked so hard to earn requires planning and understanding of the various options available for reducing you tax bill. In this article I list and describe...

The earned income credit for your federal taxes is a large benefit for lower income families. You may be surprised however, how much you can make and still qualify for some earned income credit....

Follow the steps below to find printable IRS forms.

When tax season rolls around it is hard enough getting all your information together, don't let finding free tax forms be a hassle! Follow my simple steps to get the tax forms you need easily and...

The taxes for an LLC, or limited liability company, are listed separately from your personal taxes. The company's structure--whether it is a single-owner LLC or a multi-member LLC with multiple...

An Individual Retirement Account (IRA) is a retirement account that receives special tax treatment by the Internal Revenue Service (IRS). An IRA rollover refers to when you take money out of one...

Are you having trouble completing your individual federal income tax return? Do you need help navigating the maze of forms, deductions, and tax tables? Free confidential help is just a phone...

Tax time is rapidly approaching. Many people's thoughts are turning to how and when to file their taxes. Certain people can file their federal taxes quick, easy, and free! See if you apply and...

If you think you may be delinquent on your taxes, just wondering what your status is with the IRS can be stressful. Ignoring outstanding tax debts can have serious repercussions, ranging from...

The Internal Revenue Service resorts to a summons when other means of obtaining taxpayer information have been unsuccessful.

Doing your own taxes is not only a great way to save money, but also gives you the chance to review everything step by step, ensuring the best results. For example, when using an accountant, you...

Any taxable income generated from self-employment or sources that are not subject to withholding must be reported on federal income tax returns. According to IRS.gov, individuals who fail to pay...