FairTax group says IRS, federal income tax must go
Imagine the month of April coming and going without filling out tax forms, logging on to TurboTax or visiting H&R Block, Jackson Hewitt or another one of the multitudes of tax preparation companies jammed with customers between January and April each year. Imagine having no IRS and no federal income tax.
IRS: Citi airline miles 'gift' is taxable income
The IRS told the Los Angeles Times that rewards like airline miles for using your credit card are a rebate and not taxable. But the miles customer receive for opening an account: that's income and taxable.
I'm Okay with Mitt Romney's Income and Estate Tax Planning
Americans are allowed to pay the lowest tax they are legally obligated to pay. Taxpayers who pay more do so usually because they are unaware of rules or planning opportunities applicable to them or fail to implement planning. It is the job of the President and Congress to enact legislation delineating the public’s tax obligations, and for the IRS to administer such laws as intended. Most people ...
Taxing Gifts to Super PACs?
Sen. Maria Cantwell (D., Wash.) wants to rein in Super PACs using the tax system.
IRS Audit: Big Charity Filed Misleading Tax Return
But Food for the Hungry says it will challenge audit report that it misvalued donated gifts, including deworming medicine
Avoiding scams during tax season
IRS offers some tips on how to avoid tax scams and where to get free, reliable help when filing your returns.
Get A 6-Month Tax Extension
Discover how to get some extra time from the IRS, without paying for the privilege.
Sellers Go Looking for New Tax Form 1099K on Amazon and PayPal
Some online sellers can now access tax forms that payment processors are required to file with the IRS this month for 2011 sales. While Amazon sellers can access the forms by logging in to their accounts, it appears PayPal has not yet made the forms accessible through its site.
Mom the Mortgage Lender
Julie Jalone, Sacramento Realtor and owner of MagnumOne Realty in Roseville, writes about the growing number of home purchases which have been completed with the help of the buyer’s parents. She also lists some of the tax concerns parents should be aware of when making gifts and/or loans to buy a home.