If you receive an email from "tax refunds @ irs.gov," delete that email immediately. According to the IRS, this is a scam designed to trick consumers into revealing their personal ... Read More

If you run a small business or are self-employed, you can give holiday gifts to your employees and valued business clients and take a tax-deduction. You can give gifts worth ... Read More

For those with the means and inclination, installing solar energy panels on your house may be the best tax deal out there. Congress is offering a limited-time tax credit for ... Read More

You can give up to $11,000 per year, per person tax-free. You don't need to file a Gift Tax Return (IRS Form 709) as long as you give $11,000 or ... Read More

The Ernst & Young Tax Guide 2006 provides comprehensive, well-organized information on federal income taxes. The Tax Guide is really two books in one: it contains IRS Publication 17 along ... Read More

People who have won money by gambling can make some fun year-end tax moves. Gambling winnings are fully taxable, but winners can claim gambling losses to the extent of their ... Read More

If some of your stocks, bonds, or mutual funds are losing money, consider selling some or all of your holdings. You can lower your capital gains tax, or possibly generate ... Read More

For 2005, the maximum contributions for traditional and Roth IRAs are $4,000. For 401(k) plans, the maximum is $14,000. Both allow special catch-up contributions for people age 50 and older. ... Read More

Sadly, many people will be claiming casualty losses for damage done to their homes, cars, and personal property as a result of Hurricanes Katrina, Rita, and Wilma. So far, casualty ... Read More

IRS Announcement: "The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), which was effective October 17, adds new tax responsibilities for bankruptcy filers. Under the new law, debtors ... Read More

There's a $2,000 tax deduction for buying a qualified hybrid car or truck, and a $4,000 tax credit for electric vehicles. 2005 is the last year for the $2,000 clean ... Read More

2005 is shaping up to be a banner year for charitable giving. The IRS has eliminated the 50% limit on cash donations. Normally, gifts to charity are fully deductible up ... Read More

IRS Annoucement: "Taxpayers with Direct Debit Installment Agreements recently received letters notifying them that the IRS will be unable to automatically withdraw their payments for December 2005 and January 2006 ... Read More

Spending money on tax deductions is the same as reducing income. Pre-pay next year's real estate taxes or pay January's mortgage payment in December. Both of these moves can boost ... Read More

Lower income now can result in lower taxes. If you run a small business, consider delaying the collection of income until the new year. For employees, consider boosting 401k contributions. ... Read More

For the next few weeks, I will be highlighting smart tax moves you can make before the end of the year to lower your 2005 taxes. The key to successful ... Read More

The IRS has released the official answers [PDF document] to the 2005 Special Enrollment Examination. This is a two-day test taken by aspiring Enrolled Agents. Passing the test, along with ... Read More

Intuit has released the 2006 version of Quickbooks, the reliable and generally easy-to-use accounting program. I love the new look and feel of the 2006 version, especially since I was ... Read More

The Internal Revenue Service has re-designed their Web site. All I can say is, "Wow." The most requested forms and publications are posted right up front, making it easy to ... Read More

Use Form W-4 to figure the right amount of federal income tax to have withheld from your paycheck. You may want to review your withholding at the end of the ... Read More

Taxpayers can set up a monthly payment plan with the IRS to pay less than the full amount of their tax debts. This is called a partial-payment installment agreement, and ... Read More

November 15, 2005, is the final deadline for filing for tax amnesty in the State of Indiana. The state is offering a one-time waiver of all penalties and interest for ... Read More

You have until April 14, 2006, to file your 2002 tax return and still claim a tax refund. Tax refunds over three years old generally cannot be refunded due to ... Read More

About's job search engine, Indeed.com, has 81,807 job postings for tax professionals from firms around the country. Perhaps you can find a new career, or a perfect second job for ... Read More

The IRS has added two more hybrid cars to its list of vehicles that qualify for the Clean Fuel Deduction. Taxpayers who buy these hybrid cars can take a clean ... Read More

A reader recently asked about how the IRS handles tax refunds in a successful Offer in Compromise. The answer is that the IRS keeps the tax refund from the calendar ... Read More

Peachtree is a reliable accounting program, and the 2006 version adds some great features. Perhaps the most important new feature is access to online banking. This is an essential time-saver ... Read More

Microsoft is trying, again, to compete in the small business accounting area against the likes of Quickbooks and Peachtree. Microsoft's Small Business Accounting 2006 has a very easy to comprehend ... Read More

Intuit has released version 2 of Quicken Rental Property Manager. According to the company, the software is designed to replace "such antiquated systems as the shoebox full of receipts, hand-written ... Read More

Dear Tax Guide, My wife and I recently applied for an Offer in Compromise, and we just received a letter from the IRS requesting additional supporting documentation. We plan to ... Read More

Schedules for marginal tax rates for 2005 and 2006 have been posted. Based on the recently published IRS Revenue Procedure 2005-70, 2006 tax rates show a slight decrease in taxes ... Read More

Audits of individual tax returns rose 20 percent from 1 million audits in 2004 to 1.2 million audits in 2005, according to a recent statement by IRS Commissioner Mark Everson. ... Read More

Some people can pay off the Internal Revenue Service for less than what they owe by filing an Offer in Compromise. I spoke with David Bauman, an enrolled agent working ... Read More