IRS & Federal Income Tax

Restitution and tax write offs are directly related in a few key ways. Learn about restitution and tax write offs with help from an attorney in this free video clip.

Divorced parents are entitled to some pretty specific tax write offs come April. Learn about tax write offs for divorced parents with help from an attorney in this free video clip.

The "head of household" filing status for the Internal Revenue Service is defined in a very specific way. Learn what defines "head of household" for a single woman when filing her income tax return…

As a widower you have a few very specific tax deductions that you are entitled to take. Learn what you can write off on your taxes as a widower with help from a practiced attorney in this free video…

If you're a successor trustee and the trustee of a living will has passed away, you will need to file some very specific income tax returns. Find out what kind of income tax returns you need to file…

If someone falsely declared you as a dependent for tax purposes you have to complete a few specific things. Learn what to do if someone falsely declared you as a dependent for tax purposes with help…

In finance, the term "regressive" refers to the reduction of taxation rates in proportion to the increase in income levels. This means that low and middle income earners are subjected to…

Civil judgements are the award you get after a lawsuit. Learn about civil judgement on income tax with help from a licensed attorney who specializes in financial information in this free video clip.

The two types of IRS 1099 forms for which you can claim losses on are the 1099 A — Acquisition or Abandonment of Secured Property and 1099 B — Proceeds from Brokers and Barter Exchange. To…

Payroll tax withholding on a weekly income is calculated in a very specific way. Learn about payroll tax withholding on a weekly income with help from a versatile business and financial consultant in…

If you're adjuncting, its important to know what tax write-offs you have available to you. Learn about adjuncting and tax write-offs with help from an accomplished consultant, financier, and marketing…

Master Limited Partnerships or MLPs are tax-advantaged business structures that were legally sanctioned as a result of the passage of the Revenue Act of 1987 and the Tax Reform Act of 1986, according…

As a self-employed individual or business owner, it is your responsibility to report all business earnings and pay annual taxes to the Internal Revenue Service. Instead of trying to pick through a…

Filing taxes can be a confusing endeavor for younger taxpayers who are completing a federal tax return for the first time. If you are a college student with a job, you may get a bigger tax refund if…

If you are filing taxes in North Carolina, you will not find an option of separated as the filing status on your taxes. Legal filing status options include married filing jointly, married filing…

The alternative minimum tax (AMT) is a federal tax intended to ensure that high-income households pay their fair share of taxes. First introduced in 1969, the AMT is separate from the regular tax…

College graduates full of hope and promise enter the workforce looking to leave their mark on the world. Unfortunately, some also enter the workforce facing mounds of debt and uncertain job prospects.…

Claims you make on Form W-4 tell your employer how much income tax to withhold from your pay. Your employer is not allowed to disagree with the allowances you claim, and in most cases, is required to…

Saving for retirement is a common long-term financial goal that can help ensure that individuals enjoy the same standard of living during old age that they do during their working lives. Tax…

Applying for federal financial aid, grants, scholarships and loans helps defray the cost of enrolling in online college courses and living without a full-time job until graduation. The American…

Salaries are the primary method of compensating employees for work performed. Professionals in fields such as law, medicine and some computer occupations are commonly paid on a salary basis, as are…

If it's been several months since you filed your tax return and you haven't yet received anything from the IRS, you should take immediate action to find out its status. In some cases, the IRS cannot…

An adjustment for federal tax occurs when a taxpayer sends an amended tax return to the Internal Revenue Service, or the IRS adjusts the taxpayer's return due to errors or fraud after the taxpayer has…

Some of the costs of home ownership are tax deductible. If you are paying a mortgage, own a home business, or rent your property to others, you can deduct a number of costs from your tax liability,…

Businesses, particularly publicly traded ones, use income statements as part of balance sheets to report their periodic income to board officers and, in some cases, investors. Income statements are…

Corporation income taxes must be estimated and paid quarterly to avoid penalties on unpaid federal taxes when the corporate tax return is filed at the end of the fiscal year. This requires calculating…

Several energy-efficient appliances and products carry rebates, tax deductions or tax credits. These incentives are typically government-funded and serve to balance the cost of buying energy-efficient…

Most states levy a state income tax in addition to federal income taxes. State tax regulations are typically similar to federal tax regulations in that the tax systems are somewhat progressive;…

Every year people experience flooding due to natural disasters, excessive rain and hurricanes. While no tax credits exist for victims who experience financial loss after flooding, other options are…

Rapid refunds refer to refund anticipation loans (RALs) that allow filers to receive tax refunds immediately or within 24 to 48 hours. The Internal Revenue Service does not approve refund anticipation…

Individuals who are married and filing their taxes jointly complete a tax return as a single entity. A variety of income sources are subject to taxation. All taxable income is tallied together on the…

The U.S. Department of Housing and Urban Development operates a program that encourages the investment and development of apartment complexes and other housing for low-income families. Investors…

At the beginning of the new tax season, your employer sends you a W-2, a legal tax document stating your previous year earnings, taxes paid and other income deductions. You are legally required to…

When you prepare and file your federal income tax return each year, you are required to report all taxable income. While some income clearly qualifies as taxable income, such as wages, other income…

Employers can ease the blow to employees losing their jobs by providing a separation package. Although they're not required, a separation package can make the news of job loss more palatable, provided…

If you receive W-2 wage income, you must use Form W-4 to determine your federal withholding. If you receive income as a contractor; or receive other types of 1099 income, such as interest, dividend or…

Most people want to pay less tax each year; the legal way to accomplish this is to find tax deductions and apply them to your return. Each dependent you claim on your tax return allows you to claim a…

A taxpayer with a nonresident alien spouse can choose to file a tax return jointly with the spouse, or separately as a single filer. The Internal Revenue Service allows individuals with a nonresident…

Renting your duplex to tenants puts money in your pocket while you simultaneously own the asset. The money you earn from your duplex rental is taxable, however, and the Internal Revenue Service…

Just because you're single doesn't mean tax credits don't exist for you. Tax credits are available for a variety of taxpayer situations, including education, alternative energy, home improvements, and…

When gas prices are high, carpooling can be a more cost effective way to commute to work than traveling alone. Carpooling also saves gas and reduces greenhouse emissions. While there is no tax credit…

Just because someone you are supporting receives Supplemental Security Income, or SSI, payments, it doesn't automatically mean that you can't claim him as a dependent on your taxes. Whether you can…

The Internal Revenue Service allows tax credits if you have qualifying dependents and qualifying income that reduce your tax liability. In some cases, these credits are refundable even if you have no…

Some people enjoy the New Jersey lifestyle, but make their living by working in New York. Since the two states border each other, transportation from areas like Hoboken and Jersey City make commuting…

Married taxpayers in community property states generally do not need to think about community property laws when filing their federal tax returns. However, the issue can complicate tax filings for…

The stresses of tax season can often cause taxpayers to overlook tax credits they would have otherwise been entitled to. One such tax credit you may be eligible for is the tax deduction for facade…

The amount of your reported income and taxable income can vary significantly depending on your allowable deductions. In some instances, a taxpayer may show considerable reported income, yet when it…

New York state -- like many other states across the country -- has an escalating income tax scale. This means that the percentage of income tax that a resident pays depends on what she earns. Those…

As far as the Internal Revenue Service is concerned, you are a sole proprietor if you earn a business income, do not have a business partner and you are not registered as a corporation or as a limited…

First-time home buyers from 2008, 2009 and 2010 are eligible for a tax credit. This tax credit reduces your tax liability or adds to your normal tax refund. While all first-time home buyers purchasing…