The IRS receives thousands of reports every year from taxpayers who receive emails out-of-the-blue claiming to be from the IRS. Scammers use the IRS name or logo to make the message appear authentic so you will respond to it. In…
Monthly Archives: February 2013
Taxable and Nontaxable Income
by Oscar • • 0 Comments
Section 61 of Internal Revenue Code states that “except as otherwise provided in this subtitle, gross income means all income from whatever source derived…” and reflects the language of the 16th Amendment that authorized the Federal Income Tax. Under this…
Missing Your W-2? Here’s What to Do
by Oscar • • 0 Comments
It’s a good idea to have all your tax documents together before preparing your 2012 tax return. You will need your W-2, Wage and Tax Statement, which employers should send by the end of January. Give it two weeks to…
Dependents and Exemptions
by Oscar • • 0 Comments
While each individual tax return is unique, there are some tax rules that affect every person who files a federal income tax return. These rules involve dependents and exemptions. Here are six important facts about dependents and exemptions that will…