Need to Report Nondeductible IRAs for Previous Years?
Saturday March 29, 2008
Some people are not eligible to contribute to a tax-deductible Traditional IRA or to a tax-free Roth IRA, and so they place funds into a nondeductible Traditional IRA. While this ... Read More
New Tax Publication for the Stimulus Payments
Thursday March 27, 2008
The Internal Revenue Service has released a new publication designed especially to help people who are filing a tax return this year solely to receive their mid-year stimulus payment.
Retirees receiving ... Read More
Free Help for Stimulus Rebates
Wednesday March 26, 2008
Want some free help in preparing your 2007 tax return?
The IRS and various non-profit groups are going to be help Social Security recipients, veterans, and low-income workers prepare their tax ... Read More
Need an Extra Billion Dollars?
Wednesday March 19, 2008
$1.2 billion dollars. That's much money the IRS is holding for taxpayers who need to file their 2004 taxes.
To receive a tax refund, people need to file a tax return. ... Read More
Protestors Take a Tax Angle on the War
Wednesday March 19, 2008
Police have arrested "more than 30 people" protesting the war in Iraq by blocking the entrance to the headquarters of the Internal Revenue Service in Washington, DC. "The demonstrators said ... Read More
Schedule and Online Calculator for the Stimulus Payments
Monday March 17, 2008
The details we've all been waiting for.... The IRS has announced a schedule for sending out the payments authorized under the Economic Stimulus Act. The IRS will start sending ... Read More
Corporate Returns Due March 17th
Friday March 14, 2008
I've been busy finishing up and filing corporate returns for my clients, and I imagine many other entrepreneurs are busy finishing up their own business tax returns as well. This ... Read More
Selling Your House Short
Wednesday March 12, 2008
"After a divorce and trying to sell our house for a few years we finally sold it short sale this year," writes one reader, who asked how taxes are figured ... Read More
How the IRS Caught Al Capone
Friday March 7, 2008
"It's been 77 years since Al Capone was prosecuted, and now the IRS is releasing documents about the country's most celebrated tax evasion case," reports AccountingWeb. The IRS very rarely ... Read More
Interest Rate for Tax Underpayments Drops to 6%
Wednesday March 5, 2008
The Internal Revenue Service has lowered the interest rate charged on balances owed to the agency to 6%. IRS interest rates fluctuate quarterly, and the 6% rate applies beginning on ... Read More
Digging up Cost Basis Information for Mutual Funds
Saturday March 1, 2008
It's easy to get lost in all the number-crunching required for your tax return, even with all the helpful features found in the better tax software programs. One area that's ... Read More