Paying Taxes

The Latest

  • January 29, 2016

    The Earned Income Tax Credit (EITC or EIC), which has been around since 1975, essentially provides a subsidy for low-income working families. To claim this tax credit, you must meet certain eligibility...

  • January 19, 2016

    The Internal Revenue Service (IRS) and the Treasury Inspector General for Tax Administration (TIGTA) say that a number of individuals have received unsolicited phone calls from people claiming to be the IRS and demanding immediate payment of...

  • December 8, 2015

    If you owe more taxes than you can afford to pay right now, the IRS offers payment arrangement options. However, it is important to understand that regardless of your reason for paying taxes late, the IRS will charge interest and penalties for...

  • December 4, 2015

    This is the IRS general tax calendar, which includes the 2016 due dates that most taxpayers will need to know.

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  • November 30, 2015

    Everyone must pay taxes on the income they receive during the year, whether it is from a job, self-employment, or other sources. The IRS expects to receive tax payments as your income is earned...

  • November 20, 2015

    The Federal income tax is based on a “pay-as-you-go” system. There are 2 ways to pay as you go: withholding tax or estimated tax. This article discusses withholding tax (also...

  • November 10, 2015

    To give you a head start on the 2016 tax year, Bloomberg BNA has released their tax rate/bracket predictions.

    The Federal income tax currently consists of 7 rate brackets: 10%, 15%, 25%, 28...

  • November 5, 2015

    When tax time comes around, inevitably there are people who are not able to pay everything they owe.

    Although the IRS always prefers that you find a way to pay your taxes in full, circumstances can sometimes prevent that from happening. If...

  • November 3, 2015

    The U.S. government expects you to pay income taxes to the IRS each year. Most Americans have taxes withheld from their wages, which helps to avoid owing the IRS a large sum at the end of the year....

Tax Preparation