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Taxes : Business & Finance
The American Recovery and Reinvestment Act of 2009 and the Making Work Pay Provision
The ARRA of 2009 is not all about the Making Work Pay provision. Businesses and individuals still has other provisions to consider like Homebuyer Credit, Work Opportunity Tax Credit, the Energy Effici
Goods And Services Tax (new Zealand)
Goods and services tax (GST) is an indirect tax introduced in New Zealand on October 1, 1986 at 10%, and later increased to 12.5% on July 1, 1989, and is to be increased to 15% on October 1, 2010. This brought a major change in New Zealand taxation policy as until this point almost all revenue had b
Penalties for Not Reporting Income to the IRS
The Internal Revenue Service requires that all income be reported in a tax return, and failure to do so can result in many penalties. Most penalties can be waived if you can convince the IRS that you had reasonable cause for not reporting the income and didn't understand that you needed to report th
How Do I Get a Date for My State Tax Refund?
The United States Department of Revenue has individual departments of revenue in each state. Of the 50 state departments, 43 require residents to file state income taxes if they meet income requirements, which is a yearly income greater than the amount of the standard deduction each resident is elig
What Does an IRS Offset Mean?
Advances in technology have enhanced the ability of government agencies to share information. Gone are the days of one hand not knowing what the other hand was doing. In 21st century governments, agencies share information for increased efficiency and debt collection. If you are delinquent in payin
What To Do If You Didn't Get a Form 1099
If you earned revenues as an independent contractor in 2005, you should have received a 1099 Form for the work. So, what if you havent received one?
How to Appeal an IRS Penalty
The Internal Revenue Service assesses penalties in a number of instances in order to encourage adherence to Internal Revenue Service (IRS) rules. Although the most common IRS penalties are the Failure to File and Failure to Pay penalties, there are a number of penalties which directly relate to unpa
Difference Between Realized Income & Taxable Income
The difference between realized income and taxable income is that realized income refers to any income received during the tax year including taxable and non-taxable income. Taxable income refers only to income that is subject to taxes. You might receive several types of income during the year, but
How Is a Shareholder Basis Affected by Tax Credits?
A shareholder's basis is the market value of his stock investment for income tax purposes. Earnings and profits are distributed to the shareholder based on the amount of stock owned. An increase in basis due to earnings and profits earned is included in taxable income reported by the shareholder on
Using This Years Taxes To Save On Next Years Taxes
You just got done paying taxes or filing an extension and are grumpy. If you are smart, you will use this miserable event to save some cash for next year.
Federal Income Tax Online – Prepare and File Your Taxes at Ease!
Most taxpayers prefer doing taxes with minimal efforts not because they are lazy. Due to the advancement in the technology, one can complete the task with a great pace and the same applies with preparing ...
How Do You Calculate the Excise Tax for Income Taxes?
The United States charges an excise tax for certain goods and services at the point of sale. Goods subject to the federal excise tax include tobacco products, alcohol and gasoline. Services subject are cellular and land-line telephone services. Excise tax is calculated in two ways (depending on the
The Cheapest Way to File Taxes Electronically
The cost of hiring a tax preparer can be almost as intimidating as preparing the tax return itself. Tax preparation fees are often arbitrarily set, making it difficult to determine the benchmark or base price for tax preparation costs. Thankfully, competition in the tax preparation business has prod
File Your Tax Online And Find Out If You Have An Australia Tax Refund
For the past 3 years I have been writing informative and high quality articles on topic such as australia tax refund,online tax return services, instant tax return Australia and many more.
When Is Tax Assessment Deductible?
Instead of being based on the market value of your property, tax assessments are calculated on the benefit your property receives from a community improvement. For instance, if you own a plot of land worth $30,000 and a house worth $150,000, your property taxes will be different on both. However, if
Modified Adjusted Gross Income: an alternate measure of income used to reduce tax benefits
Modified adjusted gross income is a tax concept. Modified adjusted gross income is defined for each of the 10 tax breaks to which it applies.
How to File Business Taxes for Free
Business taxes are filed on different tax forms for different types of businesses. Corporations file a different tax return than partnerships and Limited Liability Companies. Each business tax return can be filed through an accountant, through an online tax preparer or on paper to be mailed to the I
Debtors' Rights to Stop a Judgment
An individual can quickly find his ability to pay his bills decimated by disability, the loss of a job or the loss of a spouse's income through death or divorce. Fortunately, a party facing the imposition of a judgment has several things he can do to avoid or minimize the damage in a debt collection
How to Claim Money on Your Taxes As a Sole Proprietor
When you work for yourself or earn income by providing services as an independent contractor, the IRS treats you as a sole proprietor for tax-reporting purposes. This designation increases your tax compliance obligations since you must file a Schedule C in addition to your 1040 form. And although yo
Unpaid Employment Taxes
In 2008, the Internal Revenue Service issued an internal directive to go after companies that fail to pay their employment taxes, according to attorney Howard S. Levy. If you have not paid, you can often negotiate with the IRS to reduce fines and penalties.