Courtesy of the Internal Revenue Service TT-2008-16 If you changed your home or business address, notify the IRS to ensure that you receive any refunds or correspondence. While the IRS uses the Postal Service’s change of address files to update taxpayer addresses, notifying the IRS directly is still a good idea. There are several ways […]
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TAX INFORMATION AVAILABLE IN SPANISH INFORMACIÓN TRIBUTARIA EN ESPAÑOL Courtesy of the Internal Revenue Service TT-2008-12 If you need federal tax information, the IRS provides free Spanish language products and services. Pages on the Internal Revenue Service’s Web site, pre-recorded tax topics, refund information, tax publications and toll-free telephone assistance are all available in the […]
Courtesy of IRS TT-2008-11 Are you facing a lot of different tax questions this year? IRS experts have pulled together an overview of common tax issues in one convenient place — Publication 17, Your Federal Income Tax. This updated publication, available on the IRS Web site, IRS.gov, contains a vast array of helpful information for […]
Courtesy of the Internal Revenue Service TT-2008-05 The three forms used for filing individual federal income tax returns are Form 1040EZ, Form 1040A and Form 1040. If you are filing a federal income tax return on paper, use the simplest form you can. Using the simplest allowable form will reduce the chance of an error […]
Courtesy of the Internal Revenue Service Taxpayers who pay someone to do their taxes should choose a preparer wisely. If you choose to use a paid tax preparer, it is important that you find a qualified tax professional. Taxpayers are ultimately responsible for everything on their return even when it’s prepared by someone else The […]
Today we hear from Amanda in TN who tells us. “I am an owner of a small business. I need to know what form to use for my payroll deposits. Do I pay quarterly or monthly? I’ve been trying to figure this out since our first payroll last month. So can I double my payments […]
Courtesy of IRS – STT-2007-22 During summer months many people sell their home and move to a new location. Many of those individuals will make a profit on the sale and still will not have to pay a single dime of additional income tax to the IRS. Generally, you have made a profit if the […]
Courtesy of the Internal Revenue Service Did you recently move to another city for a new job or because your old job is now at a new location? A tax break may be coming your way. How far you moved and the amount of time you spend on the job will have a major impact […]
Courtesy of IRS Even though you may be on vacation, the IRS is always at work thinking about taxes! August and the “Dog Days of Summer” are upon us. Taxes are probably the furthest thing from your mind. But now, months before the end of the year and the start of tax season, is a […]
Did you make a cash contribution to your favorite charity? Have you recently spent a weekend cleaning stuff out of your garage or basement and then donated the items to a local charity? Charitable contributions can be tax deductible, but you must have the proper records to support your deduction. Due to the Pension Protection […]
Tax Calendar for Small Businesses on IRS.gov Are you running a small business? Would you like a calendar packed with valuable business tax information? The IRS is offering a free calendar to help you keep track of tax deadlines and important dates throughout the year. You might be surprised to learn that the IRS publishes […]
Your summer vacation may mean a trip to the casino or the racetrack. What will you owe Uncle Sam if Lady Luck happens to be on your side? Gambling winnings are fully taxable and must be reported on your tax return. You must file Form 1040 and include all of your winnings. Gambling income includes, […]