In today's increasingly complex tax environment it is more important than ever before to understand the basics when it comes to modern tax relief.
You got the audit notice from the IRS. What now? You can survive an IRS tax audit with tax help from an experienced tax attorney. Take action by hiring a tax attorney to organize the process and tell you exactly what documentation, tax records, and other data are needed.
As I mentioned in a previous post called "Capital Gains and Losses: New Twists for 2012 - Part One", the end of the year is the traditional time for securities investors to "harvest" capital losses for federal income tax purposes. Part of my role as a tax attorney in Atlanta, is to educate my clients I wanted to share that there's an added wrinkle to capital gains and losses in 2012: the usual strategy of harvesting losses is a little more complicated this year due to three key tax law changes scheduled for 2013.
You only have to examine your paycheck to realize certain income is tax-free. For example, health insurance premiums paid by your employer are generally not includible in your income. Do you know the tax status of other types of income? Here's a short quiz to test your knowledge.
With the recent economic downturn experienced by many taxpayers, there is a tax concept that is very important: cancellation of debt. You would think that the cancellation of debt by a credit card company or mortgage company would be a good thing for the taxpayer. And it can be, but it can also be considered taxable income by the IRS. Here is a quick review of various debt cancellation situations.
Tax-exempt organizations are required to file annual reports with the IRS. Those with gross receipts below $50,000 can file an E-postcard rather than a longer version of Form 990.
What's the summertime forecast? From a tax perspective, the outlook calls for planning now to prepare for changes gathering on the horizon - specifically, provisions currently expected to take effect in January 2013. Here are four new rules to think about during your mid-year tax review.
The deadline of April 17, 2012 to file your tax return or request an extension has come and gone. Now What?
What are you going to do with your federal income tax refund this year? Instead of spending the money on things you don't really need - like a bigger flat screen TV or the latest smart phone - you might put a sizeable refund to better use. Here are a few suggestions.