September 24, 2013
Generally speaking, whenever you settle a debt for less than you owed, the difference counts as income – taxable income.
A short sale is a form of debt...
September 23, 2013
Did you know that there are many different types of individual income tax return forms? You must use the tax form that corresponds with your particular situation and allows you to claim the income, deductions, credits, etc. that apply to you....
August 1, 2013
IRS tax forms are used by individuals and organizations to report income and pay taxes to the federal government. The IRS (Internal Revenue Service) is responsible for...
July 26, 2013
Nonprofits are organizations designed to forward ideas, beliefs, and initiatives as opposed to one individual, or a group of individuals. This is in stark contrast to corporations or many business entities, which transfer a percentage of profits...
April 4, 2013
NEW YORK (MainStreet) — Even though most Americans filed their taxes weeks ago and have by now kicked back to wait on their refund check, many will spend the next week scrambling to gather...
February 21, 2013
You do. That is, if hope to take a child-care credit on your income tax return without running into problems with the IRS.
February 15, 2013
Have you always filed electronically? Never done it? Here are a few things to consider.The Pros
Accuracy: Estimates for the error rate for paper returns vary from 10 to 21 percent. Estimates...
February 15, 2013
Roughly one in three Americans file their own taxes online, rather than use a professional tax preparer. If you're going to file electronically, here are a few ways to do it.
If you make less than $57,000 a year, you don't have to pay...
February 8, 2013
Withholding tax (also known as “payroll withholding”) is essentially income tax that is withheld from your wages and sent directly to the IRS by your employer. The employer then sends the withheld amount to the appropriate taxing...
February 4, 2013