Paying Taxes: Video Series

The states with no income tax are Texas, Nevada, Washington State, Florida, Alaska, South Dakota and Wyoming, where citizens are only required to file a 1040 form. Find out how to file in one of these seven states with information from an IRS tax agent in this free video on personal finance.

Tax rates for singles in the military are the same as for non-military singles, but the combat pay, which is reflected on the W-2, is non-taxable. Understand taxes for military personnel with information from an IRS tax agent in this free video on personal finance.

The cost of tax preparation varies whether the tax payer uses an online program or a tax service, and each form filed, such as a W-2, a Schedule C or a Schedule E, involves a fee. Calculate the cost of preparing taxes with information from an IRS tax agent in this free video on personal finance.

Filling out a W-4 requires adding up all dependents and exemptions, filling out personal information at the bottom and following the instructions under each line. Fill out a W-4 to give to a new employer with information from an IRS tax agent in this free video on personal finance.

Avoiding a tax audit is possible by being completely honest about deductions, but audits can still occur even without any red flags on a tax return. Be straight with the IRS to lower the chances of auditing with information from an IRS tax agent in this free video on personal finance.

To deal with the IRS, read their letters carefully, find out exactly what is needed, call the phone number provided on the letter, and call a tax specialist to assist with any problems. Respond quickly to an IRS notification with information from an IRS tax agent in this free video on personal finance.

A dependent has to file a tax return when they made less than $3,500 that year, but still received a W-2 from an employer, but the dependent must claim him or herself as dependent. Determine when dependents need to file a tax return with information from an IRS tax agent in this free video on personal finance.

Social security benefits are only taxable when any additional income is more than $32,000 for a married person or more than $25,000 for a single person. Determine if social security benefits are taxable with information from an IRS tax agent in this free video on personal finance.

Individuals must file an income tax return if they earn more than $8,950 per year, though they will not owe any taxes at that rate of income. Find out if you need to file an income tax return with information from an IRS tax agent in this free video on personal finance.

Social security tax should be 15.3 percent of the gross income, and most employers pay half of that percentage while the other half appears on the W-2 at the end of the year. Calculate social security tax, which everyone draws on in old age, with information from an IRS tax agent in this free video on personal finance.

To determine when alimony or child support is taxable, consider alimony as a deduction for the payer and an income for the payee, while child support is never taxable. Understand alimony and child support as they refer to taxes with information from an IRS tax agent in this free video on personal finance.

To file an amended tax return, fill out a 1040x amended return form available on the IRS Web site, and attach the original return to the amended return for submission. Make amendments to a tax return with information from an IRS tax agent in this free video on personal finance.

Filing federal income taxes involves filing the taxes directly with the IRS, acquiring the forms from the post office or from the IRS Web site and following the directions exactly on each form. File federal income taxes every year with information from an IRS tax agent in this free video on personal finance.

Filing quarterly taxes are for people who don't have a W-2, so one fourth of the payment is due April 15th for the previous year, the second fourth is due on June 15th, the third fourth is due on September 15th, and the remainder is due on January 15th. File taxes quarterly with information from an IRS tax agent in this free video on personal finance.

Filing taxes as a qualified widow or widower depends on whether there is a minor child in the family, in which case an individual would file as married filing jointly that year. Understand how to file taxes as a widow or widower with information from an IRS tax agent in this free video on personal finance.

To file taxes as a single person, simply check the "single" box in the personal information section of the tax return. File taxes as a single person if you are not married with information from an IRS tax agent in this free video on personal finance.

Filing taxes electronically can be done through many online services, and the tax refund will reach the individual within 10 days, where filing by mail takes six to eight weeks to see a refund. Opt to file taxes electronically for a faster, more efficient return with information from an IRS tax agent in this free video on personal finance.

Filing taxes as a self-employed individual requires filing a 1040 form with a Schedule C, and keeping accurate records of transportation and equipment is important when filing taxes. Detail everything that was paid out for the business when filing as self-employed with information from an IRS tax agent in this free video on personal finance.

Filing taxes without waiting for a W-2 to arrive in the mail is an unsafe practice, as some tax practitioners have tried to calculate taxes from a check stub. Wait for a W-2 from an employer before filing taxes with information from an IRS tax agent in this free video on personal finance.

Getting an extension to file taxes requires filing a 4868 form by April 15th, which extends the deadline for filing taxes to October 15th, but there is no extension for paying the IRS money owed. Get an extension to file your taxes with information from an IRS tax agent in this free video on personal finance.

Lowering taxes owed can be done by taking every allowable deduction, whether it be related to work, family, property ownership or car registration. Research the allowable deductions to lower your taxes with information from an IRS tax agent in this free video on personal finance.

Paying back taxes in installments is sometimes possible by requesting a payment plan from the IRS through a 9465 form, though the IRS may refuse the request. Find out how to apply for a payment plan through the IRS with information from an IRS tax agent in this free video on personal finance.

Paying taxes on a rental property requires filing a 1040 form and preparing a Schedule E to list the property addresses, detailing the income from the property and detailing money put into the property. File income taxes when renting out a home with information from an IRS tax agent in this free video on personal finance.

To pay taxes when you are broke, file an insolvency petition, file for an Offer in Compromise, or try filing for a payment plan through the IRS. Explore options to pay taxes when your funds are insufficient with information from an IRS tax agent in this free video on personal finance.

Preparing for income tax filing requires gathering all W-2 forms, all 1099s and 1098s, any medical bills and medical insurance payments, and all expenses related to business. Prepare for tax season, keeping accurate records for an easier filing, with information from an IRS tax agent in this free video on personal finance.