Euro Tax Haven Threat

Media reporting of a new EU savings tax directive has left many people wondering whether European tax havens could soon become obselete.The July directive requires banks throughout Europe, including l...Full Article

Getting A Second Extension to File 2004 Taxes

Millions of people file tax return extensions every year. The tax filing deadlines can rush up on your quickly. Fortunately, filing an extension isnt particularly difficult. For individuals, there are...Full Article

Some Folks Pay A Lot Less Tax Than Others On Very Same Income-Did You Pay Too Much Tax In 2004?

Someone once remarked, "Next to being shot at and missed, nothing is quite so satisfying as an income tax refund." Theres no question that saving money in taxes is high on everybodys list of...Full Article

Taxation of Forgiven Debt: The 1099C & You

Often people fall on hard times and stop paying on credit cards. After a while the account may go to an outside debt collector who might offer a settlement of the debt for 30-40% of theoriginal sum. ...Full Article

Reducing Taxes Through Dividend-Salary Mix Calculations

Should I take wages or dividends from my privately ownedcorporation? What is the best way of taking money out of my company? In other words, what will result in theleast amount of income taxes?A Canad...Full Article

Need a Copy of Your Tax Return Information?

Taxpayers have two easy and convenient options for getting copies of their federal tax return information - tax return transcripts and tax account transcripts - by phone or by mail.A tax return transc...Full Article

Marriage or Divorce - Check Your Social Security Number

Newlyweds and the recently divorced should make sure that names on their tax returns match those registered with the Social Security Administration (SSA). A mismatch between a name on the tax return a...Full Article

Early Distributions From Retirement Plans

An early distribution from an Individual Retirement Arrangement (IRA) or a qualified retirement plan need not be a "taxing" experience. Fortunately, there are exceptions to early distributio...Full Article

Gambling Income and Expenses - Tax Requirements

Hit a big one? With more and more gambling establishments, keep in mind the IRS requires people to report all gambling winnings as income on their tax return.Gambling income includes, but is not limit...Full Article

Military Reservists, Enlistees May Get Deferral of Back Taxes

Reservists called to active duty and enlistees in the armed forces may qualify for a deferral of taxes owed if they can show that their ability to pay taxes was affected by their military service.The ...Full Article

Your IRS Tax Appeal Rights

Are you in the middle of a disagreement with the IRS? One of the guaranteed rights for all taxpayers is the right to appeal. If you disagree with the IRS about the amount of your tax liability or abou...Full Article

IRS Obtains More Than 100 Injunctions Against Tax Scheme Promoters

The IRS has obtained civil injunctions against more than 100 promoters of illegal tax avoidance schemes and fraudulent return preparers in an ongoing crackdown that began in 2001. Many of the injunct...Full Article

IRS Certifies 2006 Toyota Hybrid for Clean Fuel Deduction

The Internal Revenue Service has certified the 2006 Toyota Highlander Hybrid as being eligible for the clean-burning fuel deduction. This certification means that taxpayers who purchase one of these h...Full Article

I Havent Filed a Tax Return with IRS in Years, What Do I Do?

In elementary school, kids come up with creative excuses why they did not bring in their homework. My dog ate it or It was stolen by invisible space aliens might be given as a reason why something wa...Full Article

How to Donate Your Car to Charity and Get Tax Deduction

Donating your used car to charity is a win-win situation; the charity gets your gift and you get tax deduction. Below are some simple steps to make a car donation.1. Understand the rules. A good place...Full Article

Estate Taxes - It Pays to Plan Ahead

Estate taxes. Its not enough to simply know they exist, and to know strategies to minimize them. When it comes down to it, you need to plan how you and your family will eventually pay them.The Estate ...Full Article

1031 Exchange Rules and Requirements

Following is a reproduction of the IRSs rules and requirements for 1031 tax deferred exchanges with regards to real property. If you have any questions regarding the sale of your real property or ques...Full Article

Amending Procedural Laws for Collection of E-taxation

The electronic transaction ordinance defines the certificated copies in which are to be presented for adjudication. Where any law requires or permits the production of certified copies of any records...Full Article

Tax Tips to Save Money on Taxes - Get the Corporate Kick and Save Loads of Money

Why a Corporation Helps Save You TaxesThe Tax Rates (Notice anything unusual?):The following tables provide a list of the tax rates for individuals and corporations:Personal: $0-$24,650 15% $24,651-$5...Full Article

Save Money on Taxes - Let Uncle Sam Pay for Your Fun!

Deducting Meals and EntertainmentO.K. Youve been working really hard on these lessons. Now its time for some fun. Are you with me? Imagine if you could spend time with friends, eating, drinking and se...Full Article