July 28, 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...
July 27, 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....
July 22, 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...
July 21, 2015
The Alternative Minimum Tax (AMT) is basically an income tax system that runs parallel to the regular income tax. For taxpayers with higher incomes, be...
July 17, 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...
July 14, 2015
If you receive tips as part of your job, it’s important to realize that all tips are considered income and are subject to Federal income tax.
July 2, 2015
A tax lien is a claim against property that the government uses to protect its interests in tax debt. The IRS will place a lien against your property only after it has sent you a bill and you have not paid it. Being hit with a tax lien is a...
June 15, 2015
This is the IRS’ general tax calendar, which includes all the 2015 deadlines that most taxpayers will need to know.
NOTE: If you file your taxes based on the fiscal year (instead of the calendar year), some of these dates will be...
June 10, 2015
If you have to move because of your job — whether you’re starting a new job or working at the same job in a new location — you may be able to deduct some of your moving expenses on your income tax...
June 8, 2015
The ability to work for yourself and be your own boss is an exciting prospect. Becoming self-employed in your field of expertise can give you the freedom to find a work-life balance that is hard to achieve when you are employed by a someone else...