This week's tax question comes from J.B. in Virignia. He asks: "Mr. Perez, I saw an article online that you wrote in December 2005 on the website EscapeArtist.com. The ... Read More

This week's tax question comes from "The Baron" who asks: "I am planning to sell a home I own in a foreign country I lived before, and to transfer the ... Read More

The Internal Revenue Service has agreed to stop collecting the federal excise tax assessed on long-distance telephone calls. The 3% federal excise tax has been the subject of numerous lawsuits, ... Read More

The Internal Revenue Service is soliciting feedback on Form 2553, which is the form used by small businesses to elect S-Corporation status. If you have comments or suggestions for improving ... Read More

The Internal Revenue Service provides free tax information for small businesses and self-employed people through two new products. The IRS' Virtual Small Business Tax Workshop (Publication 1066C) is a ... Read More

Taxalicious, the humorous tax "news" web site, found a tax-themed music video from YouTube and shared it with the rest of the tax community. The video features IRS agents catching ... Read More

May 15th is the deadline for tax-exempt organizations to file their information and tax returns with the IRS. Tax-exempt organizations cover a wide range of public charities, private foundations, churches, ... Read More

Both the House of Representatives and the Senate have voted and approved the Tax Increase Prevention and Reconciliation Act of 2005 (HR 4297). The bill now goes to President Bush ... Read More

A capital gain is the difference between what you paid for an investment and what you received when you sold that investment. If you made a profit on the investment, ... Read More

Income tax debts may be eligible for discharge under Chapter 7 or Chapter 13 of the Bankruptcy Code. Not all tax debts are capable of being discharged in bankruptcy. The ... Read More

Generally speaking, employers report payroll by calculating gross pay and various payroll deductions to arrive at net pay. While this seems simple enough to understand, calculating various payroll deductions requires ... Read More

It's never too late to file a tax return. You can file your back taxes in six steps. You can track down your missing tax documents and W2s, purchase tax ... Read More

You can get a jump start on planning your 2006 taxes with these quick tax facts. Find information on the standard deduction, personal exemption, phaseout limits, and retirement plan limits.