Tuesday April
- 2011
- 12
Can’t Pay Your Taxes by the April Due Date?
by Lee Reams in 1040 & Personal Finance
The vast majority of Americans get a tax refund from the IRS each spring, but what if you are one of those who have received a tax bill? What do you do if you owe money to the IRS and can’t pay? Read More
Thursday April
- 2011
- 7
How to Recognize a Scam and Protect Yourself
by Lee Reams in 1040 & Personal Finance
Identity theft and scams often use the IRS name, logo or web site in an attempt to convince taxpayers that the scam is a genuine communication from the IRS. Scammers may use other federal agency names, such as the U.S. Department of the Treasury. Read More
Tuesday April
- 2011
- 5
Tax Filing Deadline Rapidly Approaching
by Lee Reams in 1040 & Personal Finance
Just a reminder to those who have not yet filed their 2010 tax return that April 18, 2011 is the due date to either file your return and pay any taxes owed, or file for the automatic six-month extension and pay the tax you estimate to be due. Normally the deadline is April 15, but when a due day falls on a weekend or holiday the due date is extended until the next business day. Read More
Thursday March
- 2011
- 31
Is the Income Taxable or Non-Taxable?
by Lee Reams in 1040 & Personal Finance
A question that comes up frequently is whether income you received is taxable or not. Generally, most income you will receive is considered taxable, but there are situations when certain types of income are partially taxed or not taxed at all. Read More
Tuesday March
- 2011
- 29
A Name Change Can Complicate Filing
by Lee Reams in 1040 & Personal Finance
If you changed your name as a result of a recent marriage or divorce, you should take the necessary steps to ensure the name on your tax return matches the name registered with the Social Security Administration (SSA). A mismatch between the name shown on your tax return and the SSA records can cause problems in the processing of your return and may even delay your refund. Read More
Thursday March
- 2011
- 24
Do You Have to File a Tax Return?
by Lee Reams in 1040 & Personal Finance
Not all individuals are required to file tax returns. If your income is less than the sum of your standard deduction and personal exemptions, you are generally not required to file a tax return. There are, however, circumstances where you may have to file anyway based on certain types of income or special circumstances. Read More
Tuesday March
- 2011
- 22
Revising Your W-4? Seek Professional Advice.
by Lee Reams in 1040 & Personal Finance
Around the beginning of the year, employers typically ask their employees to provide a new W-4. You may have already done that. If you have updated your W-4 recently and did so without knowledge of the consequences, it may be appropriate to revisit the issue and have a professional assist you in completing an appropriate W-4 that suits your unique circumstances. Read More
Thursday March
- 2011
- 17
IRS Offers New Opportunity to Come Clean On Offshore Accounts
by Lee Reams in 1040 & Personal Finance
The Internal Revenue Service recently announced a special voluntary disclosure initiative designed to bring offshore money back into the U.S. tax system and help people with undisclosed income from hidden offshore accounts get current with their taxes. The new voluntary disclosure initiative will be available through Aug. 31, 2011. Read More
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