The end of the United States tax year has been and gone, so it is surprising to some that there are still a large number of celebrities who are believed to still owe the Internal Revenue Service (IRS) a great deal of money. But are the IRS oblivious to this? Are the celebrities in the US entirely under the radar?
Because there is a considerable amount of money still owed at such a late date by celebrities, it may seem easy to jump to the conclusion that the answer is most definitely ‘yes’. However there have been many highly … Read more at 2009 Taxes
Do not let tax liability force you to pay more than your fair share of taxes. The IRS has been providing special reliefs to people who have not been able to meet their tax obligations for the last few years.
The tax revenue authority body through its “Fresh Start” initiative is taking target at small business owners and the unemployed to meet revenue collection targets set previously.
According to Doug Shulman, IRS Commissioner, the agency has an obligation to work with struggling taxpayers in order to find a workable solution for both parties.
Every taxpayer should know that failing … Read more at 2009 Taxes
By Steve
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Posted in tax assistance, Tax Audit, tax forms, Tax Law, Tax Preparation, Tax Relief
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Also tagged Doug Shulman, Douglas Shulman, Form 4868, Fresh Start Initiative, Grace period, internalrevenueservice, IRS Commissioner, tax, TurboTax, United State
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March 17, 2012 – 11:38 pm
Tax season is upon us, and people seem to react to tax season with mixed feelings. Of course, if you are expecting a refund this year, then you are probably excited to file your taxes. But be honest – there is that little voice in the back of your head worrying about being audited, right? After all, people rank the experience of an IRS audit right up there with a root canal. If you want to do your best to steer clear of the worst come tax time, here are some tips for how to avoid an IRS tax … Read more at 2009 Taxes
By Steve
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Posted in Tax Audit, tax deductions, Tax Law, Tax Preparation, TurboTax
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Also tagged Accounting, Audit, Chicago, internalrevenueservice, tax, Tax deduction, TurboTax, United State
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If you have made renewable energy improvements to your home, or you are considering them, you should know about the Federal Residential Renewable Energy Tax Credit. The Federal Residential Renewable Energy Tax Credit is a program that gives a huge tax incentive to people who install solar-electric systems, solar water heaters, geo-thermal heat systems, fuel cells and/or wind turbines. If you have installed a renewable energy system, or you are planning to install one, the tax credit can help you recoup a large portion of your initial investment.
A Brief History
The Energy Policy Act of 2005 was the … Read more at 2009 Taxes
By Steve
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Posted in Stimulus Bill, tax assistance, tax credits, tax deductions, TurboTax
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Also tagged American Recovery and Reinvestment Act of 2009, Business, Earned income tax credit, Energy Policy Act of 2005, Energy Star, internalrevenueservice, Photovoltaic system, renewable energy, Solar water heating, tax, tax credit, TurboTax
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February 9, 2012 – 11:16 am
Individuals that pay alimony (also known as “spousal support” or “spousal maintenance”) to a former spouse can deduct these payments on their personal federal income tax returns. In turn, the alimony recipient is required to claim the payments as income.
Before a payor takes an alimony deduction they should make sure that their payments meet the IRS qualifications for alimony. Ideally, this was addressed and discussed in detail with their divorce attorney to ensure that the alimony was structured in a way that would allow a deduction. If you are not sure whether your payments are deductible you should … Read more at 2009 Taxes
By Steve
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Posted in tax credits, tax deductions, Tax Law, TurboTax, Uncategorized
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Also tagged alimony, Deductible, internalrevenueservice, Payment, requirements, Scott Morgan, tax, Tax deduction, TurboTax, United States
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