Category Archives: Taxes
EZ tax credit is available to the people running non retail business in enterprise zone as well as to those insurance businesses which are situated in the enterprise zone. Tax credit shall be allowed up to one dollar for every income tax paid.
The tax credit shall be allowed after the end of the tax year or when filing the income tax return which ever is earlier. The tax credit shall only be allowed if business is within the premises of enterprise zone mentioned in the enterprise zone prog......
Tax filing always makes the taxpayers nervous but you can do your task more accurately, easily and hassle-free if you prefer the task getting done online with an IRS approved e-filing service provider. Yes, it would be more convenient, error-free and simple as well to prepare and file taxes online for free. Learn more in this article about how to do it for free or for the nominal cost which you can easily meet the expense of. In other words, now, filing income tax return is not the same co......
As 2010 draws to a close, there remains a gray cloud of uncertainty over what will happen to the Federal Estate Gift Tax, often referred to as the “Death Tax“. This tax is the tax imposed by the federal government upon your “estate” when you leave this planet for your heavenly pursuits, i.e., you die! The Federal Estate Tax was originally enacted in 1916 as a means for providing availability of funding to the federal government on a regular basis as opposed to havi......
Have you filed your return, only to get another W2 in the mail from an employer long since forgotten? Or a 1098T from a school you left, or a 1099G from the unemployment you drew, a W2G from your casino haul, a 1099R from the 401K that you cashed in, or a 1099 Misc for one day’s work. If the amount received from any of these is enough to change the state of the previous filed return, i.e. your refund should have been smaller (bad news) or should have been higher (great news), then ......
Although April 15 is the deadline for paying taxes on income from the prior year, the IRS does impose a penalty for failing to pay taxes throughout the year. Most taxpayers don’t incur this penalty if they owe less than $1,000 when filing their tax returns.
No penalty is assessed if withholding of income tax from wages equals at least 90 percent of the current year tax liability or 100 percent of the tax shown on the prior year return, whichever is smaller. But individuals with signi......
There are many problems you can run into with the IRS. The following is an overview and helpful information on some of these confusing issues.
IRS Penalties
Unfiled Tax Returns
IRS Leins
IRS Audits
Payroll Tax Problems
IRS Levies
IRS Seizures
Wage Garnishments
IRS Penalties
The penalizes millions of taxpayers each year. They have so many penalties that it’s hard to understand which penalty they are hitting you with.
The most common penalties are Failure to File and Failure......
Getting tax relief is important if you are unable to pay what you owe on your unpaid taxes. If the IRS comes after you to collect the money owed, it won’t do anyone much good if you cannot pay for it. The IRS will therefore work with tax relief companies to agree on a compromise. Compromises made on your behalf are generally compromises that would include things like dismissed penalties, fees and charges, and a longer period of time to pay. Compromises made on their behalf that you m......
Did you know you are not required to complete your IRS federal tax return before filing your FAFSA? It is a common misnomer that it is required when it is simply encouraged. However, there will be a question on the FAFSA about which IRS Tax Form you will fill out in the future, if you haven’t already, and that is where the 1040 Form comes up.
Why you should fill out the 1040 while preparing your FAFSA form:
Having your federal tax return complete will save you a lot of time when fill......
In 2010, the HIRE act of tax credits was published on 3 June, 2010. It is the law of the Congress of United States, who give payroll taxes and other opportunities for work to the people. It also hires unemployed workers. It also identified as a Democrats on the Congress on the issue of jobs bill, in the promotion of travel act and other programs, congress created the broader job for people but it has only one piece of broader job, which was made clear by the congress.
Legislative backgrou......
It’s the end of January with still no W2 in sight. You keep waiting, watching, and hoping for it to come in the mail, to no avail. You contact the employer; they tell you “it’s in the mail”. You feel helpless and defeated. You have grim thoughts, such as the post office losing your W2 or worse, if you moved to and it went to the old address and someone stole it, social security number and all.
Before you get into a tizzy, consider the following:
According......
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