Benjamin Franklin said in 1789 that “but in this world nothing can be said to be certain, except death and taxes”. One can say Franklin’s wisdom holds true to this day. Both death an...
Are you a taxpayer with a high economic income? Then you might have been the victim of a surprise attack from the spectre of taxes known as AMT or the "Alternative Minimum Tax". Many a taxpayer has an...
Did you forget to include income on your tax return or perhaps missed some deductions? If so, you can correct your return by sending an amended return to the IRS. When you amend a return, you're sendi...
For taxpayers – both individuals and businesses impacted by the Gulf Oil Spill, there are many areas of special tax assistance that may be available, including: &n...
Many of us would like to receive more take home pay on our paycheck. And for many people this is possible. If you started a new job, got married or had a child you may want to adjust your withholdin...
If you need more time to prepare and file your federal individual income tax return, you may be able to get a 6-month extension to file. April 15 of each tax year is the due date for filing a...
A pathway to retirement and tax savings for many taxpayers is an Individual Retirement Account (IRA). Everyone under 70 ½ by the end of the tax year who has taxable compensation can contribut...
Did you have debt that was cancelled during the tax year? If so, you may have you to include the cancelled debt amount in income for tax purposes. The lender is usually required to report the amount o...