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Thursday, 01 February 2007 |
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The IRS has released another online calculator to determine whether they are better off claiming sales tax or state incomes taxes while itemizing their tax deductions. The calculator takes few questions like income range, zip code, whether you moved or not, etc. At the end you can view a report. |
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Tuesday, 30 January 2007 |
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The IRS has announced that it has updated its online tool to help taxpayers determine whether a taxpayer may be subject to Alternative Minimum Tax (AMT). It is an automated version of the Worksheet in Form 6251. |
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Wednesday, 24 January 2007 |
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Tax Breaks for Small business to mollify small business owners ?
The Finance Committee unanimously passed a tax relief package which includes credits for small businesses that hire hard-to-employ workers, increased deductions for improving buildings, and measures to help small businesses simplify their bookkeeping,etc. The idea to soften the impact of federal minimum wage increase on small business.
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Monday, 22 January 2007 |
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Here is list of common tax filing errors grouped into different categories. There is no use to discuss about problem without poviding solutions to fix them and that what you can find here.
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Monday, 22 January 2007 |
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National Taxpayer Advocate Nina E. Olson released annual report with the most serious problems encountered by taxpayers and the report lists the alternative minimum tax for individuals (AMT) and the federal tax gap, IRS collection policies and the transparency of IRS as the most serious problems facing taxpayers. They National Taxpayer Advocate is appointed by the Treasury Secretary and is charged with representing taxpayer interests before the IRS and Congress.
The full report describes 21 most serious problems, the IRS’s response, and the National Taxpayer Advocate’s final comments and recommendations. The list of problems are |
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