….The Only Thing More Complex Than the Tax Code Is Figuring Out How to Fix It By Aaron Task | Daily Ticker April 18, 2011 Thanks to a quirk in the calendar, Americans had some extra time to file their…
Monthly Archives: April 2011
Tax advisers: Higher rates are coming
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Tax advisers: Higher rates are coming By Bernie Becker – 04/17/11 05:27 PM ET As many Americans finish their returns to send to the IRS, some financial advisers say that, with deep budget deficits and the Bush tax…
Tax Return Penalties
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The tax code contains a whole boatload of penalties. Some of these penalties related to tax returns failure to pay or failure to file are as follows: If you do not file by the deadline, you might face a failure-to-file penalty. If…
Amended Returns
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An amended tax return generally allows you to file again to correct your filing status, your income or to add deductions or credits you may have missed. Here are some pointers about amending your federal income tax return. Use Form 1040X, Amended…
IRS Nightmare: What Employment Taxes?
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IRS Nightmare: What Employment Taxes? Apr. 12 2011 – 9:19 am By ROBERT W. WOOD From Forbes You probably fear an IRS audit. See What’s Your IRS Audit Risk? That’s only natural, like fearing heights or spiders, no matter how…
Tips for Managing Your Tax Records
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After you file your taxes, you will have many records that may help document items on your tax return. You will need these documents should the IRS select your return for examination. Here are five tips from the IRS about…
Beware of Tax Scams
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You should be aware of tax scams. These scams are illegal and can lead to problems for taxpayers including significant penalties, interest and possible criminal prosecution. The schemes take several shapes, ranging from promises of large tax refunds to illegal ways…
Need More Time to Pay Your Taxes?
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Taxpayers who owe taxes may be relieved to know that there are some options for those who owe and can’t afford to pay the full amount right away. Taxpayers who are unable to pay all taxes due are encouraged to…