IRS Commissioner Mark Everson announced that the he will not close 68 Taxpayer Assistance Centers because the IRS received full funding for its budget from Congress. According to Everson's annoucement, ... Read More

Dear Tax Guide, I've owned and lived in my house for the past 18 months. I just got married, and his daughter is coming to live with us. This means ... Read More

More small corporations are going to be audited, according to an Internal Revenue Service press release. The IRS is going to select 5,000 tax returns at random among the Form ... Read More

You can electronically file your tax return through October 17th, 2005, even if you haven't requested an extension. To be on the safe side, you should request an additional extension ... Read More

Dear Tax Guide, Can I file for an additional extension using IRS Form 2688 if I never requested the automatic extension using Form 4868? Dear Reader, Yes, you can request an additional ... Read More

Individual (1040) tax returns are due by August 15th, 2005, if you previously requested an automatic extension of time. You should prepare and file your taxes by that date, or ... Read More

Dear Tax Guide, Is it correct that short-term capital gains are taxed under the same rate as regular income? If I have wage income of $20,000, and I have day-trading ... Read More

Dear Tax Guide, I am a self-employed person living and working in Canada. I have several clients in the United States. Will I be subject to US income tax withholding? ... Read More

The Internal Revenue Service has released income and tax data, sorted by state, from the 2003 filing season. These state income and tax statistics summarizes information from individual tax returns, ... Read More

The Internal Revenue Service is centralizing all lien processing activities into the Cincinnati, Ohio, campus. Over the next several months, the IRS will relocate all lien processing to the Cincinnati ... Read More

Federal tax revenue has increased nearly 15% during 2005, according to a report by the Congressional Budget Office. Many politicans and economist think this will help reduce the federal deficit ... Read More

Companies can now file employment tax returns using facsimile signatures of corporate officers. The IRS announced the change will apply to Form 940, 941, 941c, and other payroll tax returns. ... Read More

The Internal Revenue Service is developing plans for tax relief for taxpayers in Alabama and Florida who were hit by Hurricane Dennis, according to an IRS announcement. Among the standard ... Read More

The Internal Revenue Service has raised over $3.7 billion by cracking down on a tax scheme called "Son of BOSS." Corporations and executives used this tax shelter to defer paying ... Read More

National Taxpayer Advocate Nina Olson has released the Fiscal Year 2006 Objectives Report to Congress. The mid-year report is designed to alert Congress to the goals and objectives of the ... Read More

One of the new changes in the tax law for 2005 is the new definition of a child. Under the old laws, a child was defined differently for various tax ... Read More

Taxes have played a prominent role in American history. Tax law professors have posted two short articles on taxes in the Declaration of Independence and the Civil War. The Civil ... Read More

If you are thinking about withdrawing money from your retirement plan and you are under 59 and a half years old, you should think twice before withdrawing that money. First ... Read More

For the past three days I have been attending the IRS Nationwide Tax Forum in San Francisco, CA. The forum featured speakers from the IRS and various professional societies. The ... Read More