IRS Tax Timeline 2014 Infographic Guide – Critical Dates, Deadlines, and Reminders

IRS Tax Deadlines in Year 2014  January 31, 2014 The IRS expects to start processing 2013 individual tax returns (IR-2013-100). Deadline for employers to mail out Form W-2 to employees and for businesses to furnish Form 1099 statements reporting, among other things, non-employee compensation, bank interest, dividends, and distributions from a retirement plan. Deadline for […]

4 Common Property Tax Relief Questions – Answered

Property tax is a very important tax in terms of collection. However, sometimes one may have one or more properties but not such a good income and thus, property tax may turn out to be too difficult. Fortunately there are several forms of property tax relief that can provide a lot of ease during low […]

Top 10 Tips for Filing IRS Tax Returns in 2014

With the 2014 tax filing season under way, Americans are scrambling to find every deduction or credit available to them. Here are 10 steps that taxpayers may be able to take to get the most in a refund on their 2014 returns. Ignoring IRS tax problems is a big mistake many people commit. If tax […]

What is a Back Tax? and How to Negotiate Back Taxes With IRS?

Definition of Back Taxes: Unpaid back taxes can be a serious issue for many taxpayers who don’t have the means to pay them. The Internal Revenue Service (IRS) has recently turned over the collection of unpaid back taxes to a private collection agency. Taxpayers who lack the means to repay taxes may often negotiate a […]

Some Important Facts You Should Know About the IRS

Generally speaking, owing the IRS can become a nightmare many tax payers can never seem to get control of. Most Americans owing money to the IRS are unsure of the rules and strategies on how to permanently solve their issues with the IRS.  There are some simple steps a tax payer can take to avoid serious […]

What is ‘taxable’ income or ‘tax-free’ income?

What is taxable income? – Taxable Income Definition Tax on income, is a term which sent shivers throughout the body of a taxpayer at the end of every financial year. Amount of the tax to be paid varies not only according to the taxpayer’s total income he/she earns in a year, but also if the […]

How to Reduce Taxable Income with 5 Tips

The end of any financial year significantly disturbs the calm nerves of the taxpayers who start thinking over the ideas taking them through this testing phase. As a taxpayer one must remember, saving tax money is not an impulsive affair that needs fine-tuned thinking all the year. A taxpayer should be on the lookout for […]

Wages garnished is a stressful and financially debilitating experience

When the IRS or State has failed repeatedly to collect taxes and they attach wages it is termed wage garnishment. Garnishment rules vary, but the IRS will take a portion of your paycheck each pay period and apply the amount garnished to your outstanding tax debt. Having your wages garnished is a stressful and financially […]

Abatement of Penalties and Fees

For those that have the ability to pay their tax debt in full, IRS tax penalties and interest that make up the bulk of the delinquent tax bill are often the main causes of an unmanageable tax problem. However, several IRS provisions help taxpayers get relief. The most common reasons for penalty abatement include: Reasonable […]