Tax Law

Certain home projects may make you eligible for a home improvement tax credit. This gives you the opportunity to save money while improving the value and function of your home. Here's how you can...

Your paycheck is shrinking. California now withholds 10% more in state taxes on your paycheck than before. Find out how to stop them!

For those that run a small business or work as an independent contractor, tax season means filing a Schedule SE. Self Employment Tax form. You must file this form if you earned income as a...

Federal and state income taxes must be paid every year. In Indiana, if you fail to file a return and/or pay the taxes owed to the state, you face civil and criminal penalties.

The Internal Revenue Service taxes crude oil and other petroleum products to pay for oil spills. A tax affects domestic and imported products. Refinery operators and petroleum shippers who enter...

The IRS, short for the Internal Revenue Code, is a U.S. tax law organization that controls and collects taxes One problem the IRS deals with is the refusal of some individuals to pay their income...

Taxpayers who support a child or relative for six months or more can reduce their taxable income. Five common deductions add up to more than $10,000. Filers claim the deductions on Form 1040 and...

An income tax return is a form that needs to be completed and returned to the Internal Revenue Service (IRS) every year. Anyone who earns or receives taxable income during the year is required to...

In addition to paying federal taxes, West Virginia residents, and certain other individuals and organizations that have connections with West Virginia, must pay taxes at the state level. There are...

The Internal Revenue Service has established a number of programs to aid delinquent taxpayers. If you are delinquent in paying your taxes or anticipate becoming so, it is important that you...

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...

Marginal income tax relief is a program under Irish income tax law that combines tax exemptions and tax refunds into a single program geared toward low-income taxpayers. If you are an Irish...

Equipment used to operate a farm is tax deductible in most cases. Certain requirements must be satisfied in order for the owner of a farm to take these deductions. This includes a potential...

Timber can be held for "personal use," as an "investment" or as a "business." Holding timber for personal use disallows expense deductions and makes it the least desirable timber holding for tax...

If you intend to make a substantial gift to your spouse, you should be aware that in some cases there will be tax consequences. You cannot deduct gifts to your spouse on your federal income tax...

The marketplace of the 21st century is highly competitive. Businesses of all types undertake a variety of strategies in order to stay ahead of the competition---not only today but into the future...

The United States government generates the bulk of its operating revenue through the assessment and collection of income tax--both from individuals and businesses. Although there are some...

Corporate marginal tax relief is a concept under the Corporation Tax law of the United Kingdom. U.K. tax law provides three tax rates for corporations, depending on their profits: the lower rate,...

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...

Congress enacted stimulus checks to taxpayers as part of a total economic recovery for the United States. As with all large operations, IRS stimulus checks do run into problems from time to time....

A variety of mechanisms are used to collect taxes. One process is tax deducted and collected at the source. This method for collecting taxes is used in many countries across the globe, including...

It is important to understand tax law as it applies to US citizens working in the United Kingdom, in order to avoid paying full taxes to both jurisdictions. A US citizen working in the UK should...

The IRS provides numerous tax benefits for contributing to an Individual Retirement Account (IRA). These benefits include tax deductions, tax-free growth on earnings and non-refundable tax...

Every quarter your employer may need to complete a Form 941 for the Internal Revenue Service (IRS). The Form 941 is used to report federal payroll tax liability. It outlines all the withheld...

If you are an immigrant to the United States, you will be expected to file a federal income tax return every year unless limited exceptions apply. If you are considered a legal U.S. resident by...

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...

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....

Under the Internal Revenue Code, taxes must be paid on income "from any source derived." Considering that rather broad definition of taxable income, there are some exceptions to benefits a...

The amount of tax you must pay on salary paid outside the US depends on where you were located at the time the services were performed, the specific jurisdiction that is asserting taxation...

Internal Revenue Code Section 263A sets forth the rules for the methods of accounting to be used by taxpayers to capitalize costs, commonly called "UNICAP" which stands for "uniform...

US citizens and permanent residents are taxed on their worldwide income. Nevertheless, exemptions exist that will allow most US taxpayers to avoid paying US federal taxes on their foreign-earned...

The mortgage tax deduction is one of the most valuable financial benefits to owning your own home. On your annual income tax return you can deduct the amount of all interest paid on a mortgage on...

Tax deduction limits vary according to the type of deduction claimed, and the tax laws that apply for the current tax year. Tax deduction limits can change from year to year as new laws are passed...

President George W. Bush declared several Southern California counties were major disasters as a result of wildfires in October 2007. The declaration allowed taxpayers in those counties to obtain...

Income taxes in Canada are fairly straightforward. The system is administered by the Canada Revenue Agency (CRA) except in Quebec, whose system is administered by Revenue Québec. The system...

The U.S. Government Accountability Office (GAO) reported in 2009 that in comparison with their male counterparts, women earned 75 cents on the dollar. This puts single moms at a distinct...

Although the U.S. has recently passed tax incentives to produce energy from renewable sources such as wind turbines, tax write-offs for wind power are not necessarily a new idea. Since the 1970s,...

A tax amnesty act is a state law, created by individual states within the United States. It is an act aimed at encouraging tax evaders to pay back taxes that they owe. The act creates a time frame...

The Temporary Tax Relief Act of 2007, also known as the Tax Increase Prevention Act of 2007, is the bill passed by the 110th U.S. Congress (H.R. 3996). It became public law 110-166 Dec. 20, 2007....

Tax reduction refers to any method that reduces or eliminates taxes. Tax reductions can be temporary or permanent, can be applied individually or to the masses, and are almost always the result of...

Wisconsin taxes are among the lowest rates anywhere in the United States. Wisconsin state taxes range between 4.6 and 6.75 percent per year. Taxes are not assessed until residents reach an income...

Electing to purchase and own a boat is a major decision, particularly from a financial standpoint. One consideration that comes into play is whether tax writeoffs are available to a boat owner....

A tax attorney works with taxpayers to tackle their tax problems. They help taxpayers defend themselves against IRS tax audits, because normally an average person does not have enough tax law...

The Internal Revenue Service (IRS) is a federal governing body that oversees taxes in the United States. There are tax laws that apply to most teenagers and adults earning income. Failure to file...

The Internal Revenue Service (IRS) of the U.S. Department of the Treasury states that not-for-profit organizations can be either trusts, limited liability companies, corporations and...

The Tax Consolidation Act of 1997 was a comprehensive set of taxation reforms passed by the parliament of Ireland. It was aimed at bringing about unprecedented changes into the nature of the...

You will need the services of an affordable IRS tax attorney if you’re ever audited for your taxes. The laws change yearly and IRS tax attorneys are continuously updated on the changes. It’s not...

The thing about tax attorneys is when you need one, it's always too late. Tax attorneys should be on the top of your list to start vetting if you have any investments of substance. Ideally, your...

If you are the executive director or chief financial officer of a nonprofit organization, paying close attention to compliance with applicable tax laws is a big task. Some common nonprofit tax...

The Common Experience Payment is a cash settlement given to qualified individuals as part of the ndian Residential Schools Settlement Agreement. The payment--also known as the CEP--is just one...