Handling taxes is a specialized job and it is best left to a legal professional experienced in the matter. Whether you are an individual or an organization, you may require the help of a competent tax attorney in certain circumstances involving transactions with the Internal Revenue Service (IRS). When do you need help?Let us get a closer look at who needs help from these attorneys and when is the right time to ask for that help. Individuals may...more
Third Wave: The Alternative Minimum Tax (AMT) and Employer Tax Hikes. When Americans prepare to file their tax returns in January of 2011 - the AMT won't be held harmless, and many tax relief provisions will have expired. The major items include: ...The AMT will ensnare over 28 million families, up from 4 million last year. ...According to the Tax Policy Center, Congress' failure to index the AMT will lead to an explosion of AMT...more
All over the world, the words "I am a student" are usually accompanied by an attitude of entitlement. An attitude which says "Although I am not a minor, I should not be heaped with the responsibilities of an adult, but I should also be left to make my own decisions." Well, not with taxes. Many people do believe that simply because they are working students who are paying taxes, they should be given a tax refund for one reason or another. It does not work that way. The good thing however is that many working and tax-paying students are due tax refunds more often than they seem to know. And although this does not automatically arise because of the fact that they are student, being students has a lot to do with why many of them are due tax refund. This is because; the nature of work that many students pick is such that it is not permanent. So, how can you tell where you are due a tax rebate?If You Joined Employment During The Tax YearIf you happened to get your job after the tax tear had already started, then it is safe to say that you are due a tax refund. This is because the tax commission allows for a certain amount of tax-free allowance to all the people earning less than 100...more
Whenever anyone mentions the tax rebate, many people usually set out to ask themselves whether or not they are entitled to one. Unfortunately, many of them still do not know what to look out for to determine whether the revenue commission owes them any money. In this article, I would like to provide a checklist that will hopefully make it easier...more
We all know that it is not such a difficult thing to get a tax refund. To say the truth, a lot of the difficulties that many tax payers get when applying for the rebates have got nothing to do with the process itself. Plenty of the problems come because of the tax payers' ignorance of the very basic issues that deal with taxes and tax refund....more
Whenever people think tax returns deadline, their minds are usually filled with the possible penalties that they are likely to receive from the revenue commission. However when it comes to asking for tax refunds, many people hearts are usually filled with the fear of delays, excuses, and arguments from the same revenue commission. However, this should actually not be so because the commission is not really doing you any favors. So, what are some of the reasons that cause these hurdles?Late Filling of ReturnsOn of the reasons why the delays are always experienced is because of the late filing of the returns. When people file returns late, they should not really expect the refunds to be done fast. The reason for this is that during the last days of filing the returns, there is usually a very high level of activity. This means that they will first concentrate on meeting the needs of those people who filled the returns on the last days before the deadline. Once they are through with this group (which usually takes long,) they can then start following up those people who filed the returns past the due dates, look into the penalties that they will be required to pay before they start...more
Whenever someone hears of tax rebate, the first question that he or she asks himself is whether the tax rebate is applicable to him or her. For this particular reason, it is important for you to note that when it comes to getting a tax rebate when...more
If you are one person who not only wants to know how much tax you should pay, but also wants to understand why you should pay the tax, then you simply cannot avoid using the tax calculator. This is especially true if you have got different sources of...more
The Conservative and the Liberals have just decided to raise the Capital Gains Tax (CGT) from 18% to 28%. This was better than I initially thought although I still think it's too high and should not apply to share buys but I would say that...more
IRS tax evasion is something you should not try, however there are people every year that try some kind of scheme. Even if you escape getting caught for a while, I promise you, they will find you and get what is owed to them.When looking for ways...more
The impact of the housing market and the tighter lending standards has put the homeowners into a dilemma. Lending crisis continues to shake out, it has affected homeowners particularly those who have used creative mortgages. Long-time homeowners who...more
IRS tax evasion is not something you should never attempt, however there are people every year that try to defraud the IRS. Even if you escape the wrath of the IRS for a while, I promise you, they will find you and get what is owed to them.When...more