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Taxes Information

Taxation of Forgiven Debt: The 1099C & You

Often people fall on hard times and stop paying on credit cards. After a while the account may go to an outside debt collector who might offer a settlement of the debt for 30-40% of theoriginal sum.

Some Folks Pay A Lot Less Tax Than Others On Very Same Income-Did You Pay Too Much Tax In 2004?

Someone once remarked, "Next to being shot at and missed, nothing is quite so satisfying as an income tax refund." There's no question that saving money in taxes is high on everybody's list of financial priorities, especially small-business owners.

Getting A Second Extension to File 2004 Taxes

Millions of people file tax return extensions every year. The tax filing deadlines can rush up on your quickly.

Euro Tax Haven Threat

Media reporting of a new EU savings tax directive has left many people wondering whether European tax havens could soon become obselete.The July directive requires banks throughout Europe, including low and no tax areas such as Gibraltar, Monaco, Malta and Andorra, to disclose bank account owner information to their home country's tax authority.

Furnishing Evidence in E-Tax Compliance

Self-assessment relies on taxpayers voluntarily meeting their tax obligations. This concept is recognised in all tax statutes, which sets out taxpayers' primary obligations, and clearly spells out that taxpayers are required to determine the amount of tax payable correctly and to pay it on time.

IRS Statute of Limitations: Do Taxes Ever Expire?

Many Americans believe that an IRS debt is a debt for life and that the tax collector can hound them to the grave. Thankfully, that is not the case and there are statutory time limits on the ability of the IRS to examine and collect taxes.

What to Do If You Can't Pay Your Taxes

The end of tax filing extensions is quickly approaching. What do you do if you can't pay the amounts you owe? You should still file your return by the due date and pay as much as you can.

What You Need To Know About Taxes If You're Getting Married

It may not be high on the list of wedding planning activities, but there are a few simple steps that can help keep tax issues from interrupting your newly wedded bliss. If you recently married, check out your new tax situation.

Send Your Kids To Summer Camp and Write It Off

If you paid someone to care for a child so you could work, you may be able claim a tax credit for child and dependent care expenses on your federal income tax return. This credit is available to people who, in order to work or to look for work, have to pay for child care services for dependents under age 13.

What Is Tax Law?

The federal tax code is complex. This complexity generally arises from two factors: the use of the tax code for purposes other than raising revenue, and the feedback process of amending the code.

History Of The Federal Income Tax

The powers of Congress, and the limitations set upon those powers, are set forth in Article I of the United States Constitution. Section 8 specifies both the power to collect, "Taxes, Duties, Imposts and Excises," and the requirement that, "Duties, Imposts and Excises shall be uniform throughout the United States.

State Tax Information

All states also have their own tax system. Typically there is a tax on real estate, and there may be additional income taxes, sales taxes, and excise taxes.

About Income Taxes; Tidbits

1812The first attempt to impose an income tax on America occurred during the War of 1812. After more than two years of war, the federal government owed an unbelievable $100 million of debt.

Requirements To Produce Tax Information (Whats Up With That?)

"What we've got here is a failure to communicate." --Strother Martin in Cool Hand Luke Statutory Law Governments pass laws, it's what they do.

Get Uncle Sam To Pay $36,000 For Your Childs Education!

Let's assume that you would like to begin saving for your children's education fund. At the end of each year, for the next 8 years, you will contribute $2,000 into a Coverdell Education Savings Account (Education IRA), using your after-tax dollars.

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2009 CHICAGO BUDGET | Mayor wants to hike event, parking taxes to ... - Chicago Sun-Times

As the Economy Sinks, So Do Odds of a Tax Cut - U.S. News World Report

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/1i-0fd=Rurl=http://www.cbsnews.com/stories/2008/10/07/eveningnews/main4508167.shtmlcid=1256027098ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNEwWN1LHiniydAAo6-WfrqYDw8QRQimg src=http://news.google.com/news?imgefp=QjjBBXaYSvQJimgurl=wwwimage.cbsnews.com/images/2008/09/09/image4431048g.jpg width=80 height=60 alt= border=1brfont size=-2CBS News/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/1-0fd=Rurl=http://www.usnews.com/blogs/flowchart/2008/10/9/as-the-economy-sinks-so-do-odds-of-a-tax-cut.htmlcid=1256027098ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNEYUG8LGd63HEw7D_1OINkir-witAAs the Economy Sinks, So Do Odds of a bTax/b Cut/abrfont size=-1font color=#6f6f6fU.S. News World Report,nbsp;DCnbsp;-/font nobrOct 9, 2008/nobr/fontbrfont size=-1One of the riskiest financial moves you make this year could be listening to the presidential candidates—and banking on a btax/b cut after the November b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/1-1fd=Rurl=http://www.youtube.com/watch%3Fv%3D3ShDaWICNZ4cid=1256027098ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNG9vee-gsr_YnXX2C78lC1Nq9GPQwVideo: VP Debate - Tax Policies: Why are your tax policies not .../a font size=-1 color=#6f6f6fnobrCSPAN/nobr/fontobject width=448 height=356param name=movie value=http://www.youtube.com/v/3ShDaWICNZ4/paramparam name=wmode value=transparent/paramembed src=http://www.youtube.com/v/3ShDaWICNZ4type=application/x-shockwave-flashwmode=transparentwidth=448height=356/embed/objectbr/fontfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/1-2fd=Rurl=http://www.blackvoices.com/blogs/2008/10/10/lower-taxes-fix-the-economy/cid=1256027098ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNHuvWBBVXcYJtUZx9hiiaZeRVS2gQCan Lower bTaxes/b Fix The Economy?/a font size=-1 color=#6f6f6fnobrBlackvoices/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/1-3fd=Rurl=http://www.chron.com/disp/story.mpl/nation/6048058.htmlcid=1256027098ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNHjUsPTxBpmdJIptgTUAO-38EWO2gBoth candidates mum on effect of crisis on spending, btaxes/b/a font size=-1 color=#6f6f6fnobrHouston Chronicle/nobr/font/fontbrfont size=-1 class=pa href=http://news.google.com/news/url?sa=Tct=us/1-4fd=Rurl=http://cbs4denver.com/seenon/obama.mccain.taxes.2.836041.htmlcid=1256027098ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNGDN3Q7aXcagN1WzTLzmEJlFIYG7Qnobrcbs4denver.com/nobr/anbsp;- a href=http://news.google.com/news/url?sa=Tct=us/1-5fd=Rurl=http://politicalticker.blogs.cnn.com/2008/10/09/fact-check-obama-tax-plan-and-small-businesses/cid=1256027098ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNF5CwQDcJkrGJrQu104p494PLXluAnobrCNN Political Ticker/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1256027098hl=ennobrall 576 news articles/nobr/a/font/div/font/td/tr/table

Mayor: Homeowners#39; taxes to drop - Indianapolis Star

Meeting on Crisis, Executives Say High Taxes Hinder City’s Economy - New York Times

Economic decisions involve more than reducing taxes - Lexington Dispatch

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/4i-0fd=Rurl=http://www.stuff.co.nz/stuff/dominionpost/4717705a23917.htmlcid=1254644376ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNF9c91LZgW1z4ECWaExj5oBa1zDSQimg src=http://news.google.com/news?imgefp=L6Ia_OSmSB8Jimgurl=www.stuff.co.nz/images/735209.jpg width=67 height=80 alt= border=1brfont size=-2The Dominion Post/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/4-0fd=Rurl=http://www.the-dispatch.com/article/20081010/COLUMNISTS/810100295/1053/sportscid=1254644376ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNGbOgYV9D_Lju1z1Rl8YKY748608QEconomic decisions involve more than reducing btaxes/b/abrfont size=-1font color=#6f6f6fLexington Dispatch,nbsp;NCnbsp;-/font nobr6 hours ago/nobr/fontbrfont size=-1Over the past few months, I have been following the policy debate between Republicans and Democrats over the idea of cutting btaxes/b. b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/4-1fd=Rurl=http://www.nzherald.co.nz/politics/news/article.cfm%3Fc_id%3D280%26objectid%3D10536917cid=1254644376ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNH06b8bnD1buAsD70SL263Q1D7mdAPublic at odds with parties over deficit/a font size=-1 color=#6f6f6fnobrNew Zealand Herald/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/4-2fd=Rurl=http://tvnz.co.nz/view/page/536641/2184525cid=1254644376ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNEz_Dbh7L_DmL0RGGrFYKBYe_geMgBrash has recipe for recovery/a font size=-1 color=#6f6f6fnobrTVNZ/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1254644376hl=ennobrall 209 news articles/nobr/a/font/div/font/td/tr/table

Some real differences on carbon taxes . . . - Vancouver Sun

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/5-0fd=Rurl=http://www.canada.com/vancouversun/news/business/story.html%3Fid%3Df867a11a-be0d-411e-833f-355d7644afa0cid=1256409194ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNGhDhhBJSU6lhn23lYWU62oi0XBFwSome real differences on carbon btaxes/b . . ./abrfont size=-1font color=#6f6f6fVancouver Sun,nbsp; Canadanbsp;-/font nobr2 hours ago/nobr/fontbrfont size=-1The carbon btax/b issue -- or, more broadly, carbon pricing -- should be a key focus of debate in the federal campaign. It#39;s the one btax/b policy area where b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/5-1fd=Rurl=http://www.thestar.com/FederalElection/article/513650cid=1256409194ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNFUJKntCxxKQwujKuo9ZFg6gIthigRating the parties#39; plans to put a price on carbon/a font size=-1 color=#6f6f6fnobrToronto Star/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1256409194hl=ennobrall 4 news articles/nobr/a/font/div/font/td/tr/table

Tax experts suggest ways to close $300 billion gap - The Associated Press

The Problem With Tax-Exempt Health Insurance - New York Times

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/7i-0fd=Rurl=http://seattlepi.nwsource.com/national/1131ap_presidents_health_care_analysis.html%3Fsource%3Dmypicid=1252219486ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNHdas-7lcJHrRYdKsMKOG2vmE6WKQimg src=http://news.google.com/news?imgefp=wrWqbyhSZWYJimgurl=seattlepi.nwsource.com/dayart/aponline/49573.98McCain-2008.sff.jpg width=80 height=59 alt= border=1brfont size=-2Seattle Post Intelligencer/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/7-0fd=Rurl=http://campaignstops.blogs.nytimes.com/2008/10/10/the-problem-with-tax-exempt-health-insurance/%3Fref%3Dopinioncid=1252219486ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNHe1-yFjOGRJygBBJohujc9yB2PYAThe Problem With bTax/b-Exempt Health Insurance/abrfont size=-1font color=#6f6f6fNew York Times,nbsp;United Statesnbsp;-/font nobr12 hours ago/nobr/fontbrfont size=-1By Ezekiel Emanuel In this installment of Health Care Watch, Stuart M. Butler and Ezekiel Emanuel talk about what the candidates are saying about btaxes/b and b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/7-1fd=Rurl=http://www.youtube.com/watch%3Fv%3DerspfMkqLN4cid=1252219486ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNEmPMyCldQONL4PnHNOAkhvZzbKQAVideo: McCain, Obama Differ Dramatically on Health Care/a font size=-1 color=#6f6f6fnobrAssociatedPress/nobr/fontobject width=448 height=356param name=movie value=http://www.youtube.com/v/erspfMkqLN4/paramparam name=wmode value=transparent/paramembed src=http://www.youtube.com/v/erspfMkqLN4type=application/x-shockwave-flashwmode=transparentwidth=448height=356/embed/objectbr/fontfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/7-2fd=Rurl=http://blogs.tnr.com/tnr/blogs/the_plank/archive/2008/10/06/mccain-i-m-not-raising-taxes-i-m-cutting-medicare.aspxcid=1252219486ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNHo3LP_TaY-tF6IGOGVg3v5jPbP9AMcCain: I#39;m Not Raising bTaxes/b. I#39;m Cutting Medicare!/a font size=-1 color=#6f6f6fnobrThe Plank on TNR.com/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/7-3fd=Rurl=http://www.hattiesburgamerican.com/article/20081010/OPINION01/810100369cid=1252219486ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNHgNV16OwbNaC3KCRfe1TcpZaEXpAWatch McCain speak for himself/a font size=-1 color=#6f6f6fnobrHattiesburg American/nobr/font/fontbrfont size=-1 class=pa href=http://news.google.com/news/url?sa=Tct=us/7-4fd=Rurl=http://www.kaisernetwork.org/daily_reports/rep_index.cfm%3FDR_ID%3D54846cid=1252219486ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNHo6zmQDAwxF5mn4Vuv349kUr6V0gnobrKaiser network.org/nobr/anbsp;- a href=http://news.google.com/news/url?sa=Tct=us/7-5fd=Rurl=http://www.galen.org/component,8/action,show_content/id,68/category_id,0/blog_id,1095/type,33/cid=1252219486ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNFOBclSb40G3jZ-m27iRbC0RsUD3QnobrGalen Institute/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1252219486hl=ennobrall 1,345 news articles/nobr/a/font/div/font/td/tr/table

Oakland split over raising taxes for more cops - San Francisco Chronicle

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/8-0fd=Rurl=http://www.sfgate.com/cgi-bin/article.cgi%3Ff%3D/c/a/2008/10/09/BA5B13DUSA.DTLcid=1256067753ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNHnjngmv37kgh9JfyFkwgDlLIOXVwOakland split over raising btaxes/b for more cops/abrfont size=-1font color=#6f6f6fSan Francisco Chronicle,nbsp; USAnbsp;-/font nobrOct 9, 2008/nobr/fontbrfont size=-14 ballot that would boost the size of the police force by raising property btaxes/b, with supporters saying more money is direly needed to fight crime while b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/8-1fd=Rurl=http://www.sfgate.com/cgi-bin/article.cgi%3Ff%3D/c/a/2008/10/10/BA5113F4LB.DTLcid=1256067753ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNHqXj9ApWxA4FrymIGoPB2XrHRUfgOakland weighs cutting police overtime/a font size=-1 color=#6f6f6fnobrSan Francisco Chronicle/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1256067753hl=ennobrall 8 news articles/nobr/a/font/div/font/td/tr/table

Don’t raise taxes - Buffalo News

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/9i-0fd=Rurl=http://www.abcnews.go.com/TheLaw/Economy/wireStory%3Fid%3D5991550cid=1255823033ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNHa8hBmyywL-_TTNAns4RgJMqHWygimg src=http://news.google.com/news?imgefp=YoJpSGJsACMJimgurl=a.abcnews.com/images/Politics/tax_fraud_081009_mn.jpg width=80 height=60 alt= border=1brfont size=-2ABC News/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/9-0fd=Rurl=http://www.buffalonews.com/149/story/459635.htmlcid=1255823033ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNEYNnZ9-X0J4XURYjOo9QxCgxLv5ADon’t raise btaxes/b/abrfont size=-1font color=#6f6f6fBuffalo News,nbsp; United Statesnbsp;-/font nobr22 hours ago/nobr/fontbrfont size=-1If the hint from the administration of Erie County Executive Chris Collins that a property btax/b hike may be in the offing for 2009 is just a trail balloon, b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/9-1fd=Rurl=http://ap.google.com/article/ALeqM5hIK6KCg908gehZTEDOQCbHnauzOwD93MSISO0cid=1255823033ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNHOJjktOdsuaijLkL0oBLOIuhAZ3wStates to zero-in on btax/b cheats as economy sags/a font size=-1 color=#6f6f6fnobrThe Associated Press/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/9-2fd=Rurl=http://money.cnn.com/2008/10/09/news/economy/states_feel_the_pain/%3Fpostversion%3D2008100906cid=1255823033ei=E4PwSM3ZLI6SygTAz-G_Bwusg=AFQjCNEVi2t4OKpIRsyB8H9ZFHlm5Jyg8gFor states, it#39;s #39;worst-case scenario#39;/a font size=-1 color=#6f6f6fnobrCNNMoney.com/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1255823033hl=ennobrall 229 news articles/nobr/a/font/div/font/td/tr/table

Taxes - Google News

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One of the most important, but least understood or appreciated aspects of any business is its bookkeeping or accounting system. And, because very few people know much about the reasons for a bookkeeping system, most people are frightened by the thought of the work involved in setting up such a system, and the drudgery of daily maintenance.

History Of The Federal Income Tax
The powers of Congress, and the limitations set upon those powers, are set forth in Article I of the United States Constitution. Section 8 specifies both the power to collect, "Taxes, Duties, Imposts and Excises," and the requirement that, "Duties, Imposts and Excises shall be uniform throughout the United States.

Tax Secrets - How Drew Miles Helped Me
How about a Tax Tip?As we all know Taxes are a necessary evil. While none of us like paying taxes there are many strategists out there that can make your life a lot easier when that dreaded day arrives.

Are You Overpaying Taxes If You Use Tax Preparation Software?
For many business owners the answer to this quandary is tax preparation software. Fill out a fairly simple interview, click "print" and out comes a completed return that will pass muster with the IRS.

How to Donate Your Car to Charity and Get Tax Deduction
Donating your used car to charity is a win-win situation; the charity gets your gift and you get tax deduction. Below are some simple steps to make a car donation.

Knock-Knock-Knock
Knock-Knock-KnockWho's there?The IRS!The next quarterly payment of estimated income tax forthe self-employed is not far off. Network marketers whoreceive a form 1099 at the end of the year, and/or whoare expected to owe $1,000 or more in taxes, must filea form 1040-ES Payment Voucher quarterly to avoidpaying a penalty.

I Havent Filed a Tax Return with IRS in Years, What Do I Do?
In elementary school, kids come up with creative excuses why they did not bring in their homework. "My dog ate it" or "It was stolen by invisible space aliens" might be given as a reason why something was not turned in on time.