Taxes Information
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Taxes Information

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.

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." There's no question that saving money in taxes is high on everybody's list of financial priorities, especially small-business owners.

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.

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 low and no tax areas such as Gibraltar, Monaco, Malta and Andorra, to disclose bank account owner information to their home country's tax authority.

Furnishing Evidence in E-Tax Compliance


Self-assessment relies on taxpayers voluntarily meeting their tax obligations. This concept is recognised in all tax statutes, which sets out taxpayers' primary obligations, and clearly spells out that taxpayers are required to determine the amount of tax payable correctly and to pay it on time.

IRS Statute of Limitations: Do Taxes Ever Expire?


Many Americans believe that an IRS debt is a debt for life and that the tax collector can hound them to the grave. Thankfully, that is not the case and there are statutory time limits on the ability of the IRS to examine and collect taxes.

What to Do If You Can't Pay Your Taxes


The end of tax filing extensions is quickly approaching. What do you do if you can't pay the amounts you owe? You should still file your return by the due date and pay as much as you can.

What You Need To Know About Taxes If You're Getting Married


It may not be high on the list of wedding planning activities, but there are a few simple steps that can help keep tax issues from interrupting your newly wedded bliss. If you recently married, check out your new tax situation.

Send Your Kids To Summer Camp and Write It Off


If you paid someone to care for a child so you could work, you may be able claim a tax credit for child and dependent care expenses on your federal income tax return. This credit is available to people who, in order to work or to look for work, have to pay for child care services for dependents under age 13.

What Is Tax Law?


The federal tax code is complex. This complexity generally arises from two factors: the use of the tax code for purposes other than raising revenue, and the feedback process of amending the code.

History Of The Federal Income Tax


The powers of Congress, and the limitations set upon those powers, are set forth in Article I of the United States Constitution. Section 8 specifies both the power to collect, "Taxes, Duties, Imposts and Excises," and the requirement that, "Duties, Imposts and Excises shall be uniform throughout the United States.

State Tax Information


All states also have their own tax system. Typically there is a tax on real estate, and there may be additional income taxes, sales taxes, and excise taxes.

About Income Taxes; Tidbits


1812The first attempt to impose an income tax on America occurred during the War of 1812. After more than two years of war, the federal government owed an unbelievable $100 million of debt.

Requirements To Produce Tax Information (Whats Up With That?)


"What we've got here is a failure to communicate." --Strother Martin in Cool Hand Luke Statutory Law Governments pass laws, it's what they do.

Get Uncle Sam To Pay $36,000 For Your Childs Education!


Let's assume that you would like to begin saving for your children's education fund. At the end of each year, for the next 8 years, you will contribute $2,000 into a Coverdell Education Savings Account (Education IRA), using your after-tax dollars.

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MORE RESOURCES:
RIVERWOODS, Ill., Feb. 7, 2012 /PRNewswire/ -- As more and more baby boomers are reaching retirement age, they'll have many factors to consider in choosing where to live in retirement, including the tax ...

NEW YORK (TheStreet) - Candidate Mitt Romney wants you to believe he will lower taxes while cutting the national debt. But President Romney will need to raise taxes if he is going to have any chance of lowering U.S. debt, according to his former private equity pals. Now a strong frontrunner for the Republican presidential nomination, Romney has repeatedly said that cutting the national debt ...

When it comes to taxes, it seems that everyone has an opinion. Whether it's the way they're spent (or misspent), or whether we should pay less (or someone else should pay more), this surprisingly feisty ...

WASHINGTON, Feb. 6 (UPI) -- Small U.S. business owners are unhappy with the amount of taxes large corporations and their executives pay, a recent survey indicates.

With tax season getting under way, today I'll answer reader questions about property taxes, the new Medicare surcharge starting in 2013 and how to get those old-fashioned paper tax forms. Q: Tony G. asks, "Has anything...

Small business owners see corporate tax loopholes and the shifting of U.S. profits to offshore tax havens as serious problems, according to a new independent national poll. Small business owners think big corporations and the wealthy don’t pay their fair share of taxes, the poll shows.

Retirees can face hefty taxation if they don't follow certain strategies when managing their money. Using these tactics will help lower the bill.

Is it April Fool’s Day? Has somebody in Paris hacked the website at the Organization for Economic Cooperation and Development? Have we been transported to a parallel dimension where up is down and black is white?

Kevin Drum looks at how regressive taxes are at the state and local level, an issue that doesn’t get nearly enough attention.

These strange taxes are making everything from bagels to hot air balloon rides more expensive.  


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