Today's tax question comes from I. Marsh in Wisconsin. She asks: "Are there Capital Gains to be paid if a person who sells his rental property (after owning it for ... Read More

If you are facing a dire financial situation, the IRS may voluntary agree to stop collection activities and give you time to get back on your feet before repaying your ... Read More

The IRS, at its discretion, may accept less than full payment of your tax debts if there is doubt as to whether the IRS could ever collect the full amount ... Read More

You must fill out Treasury Department Form 90-22.1 every year if you own, or have an interest in, any foreign bank accounts. I'll tell you what you need to know ... Read More

Setting up a monthly payment plan with the Internal Revenue Service is easy. Either you or your tax professional can set up an installment agreement quickly either over the phone ... Read More

There are five ways to get out of tax debt. Learn what your options are for reducing and paying off your tax debts, and how to protect yourself when hiring ... Read More

Today's tax question comes from S. Hardage in Texas. She asks: "If you win money through a drawing in the thousands, do you just pay taxes on that when you ... Read More

Eva Rosenberg, the Internet's Tax Mama, hosted an online seminar last week covering what small businesses need to know about the Bank Secrecy Act. Ulla Scott, an agent assigned to ... Read More

The Internal Revenue Service announced that three Ford and Mercury vehicles are eligible for the hybrid tax credit: 2007 Ford Escape Front WD Hybrid 2007 Ford Escape 4 WD Hybrid 2007 Mercury Mariner ... Read More

Today's tax question comes from T. Dennis in California. He asks: "I read your pieces on capital gains and home sales and the IRS publications. I just want to ... Read More

Today's tax question comes from M. Ryan in Florida, who is starting his own business and is asking a follow-up question to my post on S-Corporations paying salaries to owners. ... Read More

Today's tax question comes from "Aspire," who is starting his own business. He asks: "Hi William, My wife has just started a business and has decied to go S -Corp. ... Read More

Today's tax question comes from Sue in New York City. She asks: "I am interested in next year trying to somehow put in for my part-time job, which is stand ... Read More

Your second quarter estimated tax payment is due today. Remember to mail in your check to the IRS using the 1040-ES coupons you received from the IRS, or download blank ... Read More

Eva Rosenberg, the Internet's Tax Mama, hosted an hour-long web conference yesterday on protecting assets and preserving wealth. She invited wealth management expert Roccy DeFrancesco from The Wealth Preservation Institute ... Read More

Gail Buckner has written up a good article on HR 2121, the Generate Retirement Ownership Through Long-Term Holding Act of 2005. Her article is posted at Fox News, "Mutual Fund ... Read More

Last week I searched high and low to find high-quality editorials and opinion pieces on Estate Tax reform. What I found was a lot of spin and very little substance. ... Read More

You can find tax information for the year 2006, based on what we know so far about this year's taxes. Quick Tax Facts for 2006 provides information on the standard deductions, ... Read More

The Senate voted against permanent repeal of the estate tax. The tax is a levy on estates worth over $2 million, and the tax is assessed and paid after the ... Read More

The maximum amount that taxpayers can claim for the hybrid tax credit will begin to be reduced for the most popular hybrid cars and trucks. Beginning July 1st, hybrid shoppers ... Read More

The Internal Revenue Service announced an increase for interest rates on tax debts and delayed refunds. Beginning July 1, 2006, the IRS will asses 8% interest on unpaid tax debts, ... Read More

Supposedly, today is supposed to be the day the world ends. But I guess that was just a marketing ploy for the remake of The Omen (read a review of ... Read More

Eva Rosenberg, the Internet's TaxMama, has posted some helpful tips for what to do when an ex-spouse forged your signature on a tax return and kept the refund money. This ... Read More

Forum member "goldengrain" posted a question on the tax message boards: Which states have no income taxes? The answer: Seven states have no personal income taxes at all. And two ... Read More

Kay Bell, author of Don't Mess with Taxes, has posted the world's first-ever Carnival of Taxes. Carnivals are roundups of interesting articles and stories covering a particular topic. Weblogs Guide Sheila ... Read More

After posting my article on how to reduce your federal income taxes, a reader asked about other taxes being deducted on his paycheck: the Social Security and Medicare taxes. The ... Read More

The vast majority of people worry about the wrong problem: how do I reduce last year's taxes? Think about it for a second. After the year has ended, the options ... Read More

In an unusual ruling by the IRS, employees who are shareholders in an S-Corporation might not be able to claim an above-the-line tax deduction for health insurance premiums. This move ... Read More

The Internal Revenue Service announced that seven Honda models qualify for the hybrid tax credit. Credits range from $650 for a 2005 Accord to $2,100 for a Civic CVT. Here's ... Read More