Prior to January 1, 2006, people purchasing hybrid vehicles were eligible to claim a significant tax deduction. Now they can claim a monstrously large tax credit.
IRS Issues Tax Credit Amount For Toyota Camry Hybrid
The government attempts to modify the behavior of taxpayers by...
IRS Issues Long-Term Care Insurance Premium Deductibility Limits for 2006
Nov. 8, 2005- The Internal Revenue Service has announced the 2006 limitations on the deductibility of long-term care insurance premiums from taxes.
Premiums for “qualified” (see explanation below)...
Every year, the IRS announces that it is holding unclaimed tax refunds. Taxpayers have a limited time to claim the $2 billion dollars the IRS is currently holding.
Three years is a magical number when it comes to tax returns. It refers to the statute of limitations on certain tax issues...
If you own a business and have employees, you have an inherent feel for the joy of filing employee related tax documents. Alas, the IRS is cutting back on the burden.
IRS Helps Employers By Reducing Filings Required For Employees
Employees are critical to any business other than...
The IRS has announced further tax relief for victims of Hurricane Katrina due to slow clean up efforts and obviously devastated areas.
The IRS is giving relief to both businesses and individual taxpayers in certain areas that have been absolutely wiped out. Instead of being required to...
The IRS is working its way through various automobiles that qualify their owners for tax credits. The Saturn model of cars has just been reviewed with one particular model being approved.
IRS Approves Saturn Vue Green Line for Tax Credit
Owning a hybrid car was pretty much a...
The Toyota Prius is the vehicle that started the entire hybrid vehicle craze. It continues to dominate the market and the IRS has announced the tax credits for this year.
IRS Announces Tax Credits For Toyota Prius
In an effort to promote energy efficiency, the federal government...
Historically, tax issues arising from bad marriages fell into the category of better or worse for marriages. The IRS granted no innocent spouse tax relief, but has changed its views.
Innocent Spouses And The IRS
When a marriage has problems, finances are almost always one of the...
Historically, tax issues arising from bad marriages fell into the category of better or worse for marriages. The IRS granted no innocent spouse tax relief, but has changed its views.
Tax Relief
When a marriage has problems, finances are almost always one of the elements that...
Reduce inheritance taxes by giving gifts!
The inheritance tax is the same thing as the estate tax in the United States, but with a different name depending on the country that you are talking about. The inheritance tax is a tax that is supposed to be levied on the richest people after...
For roughly the last ten years, the internal revenue service has made a fairly major effort to be more taxpayer friendly. The Industry Tax Issue Resolution Program is one such step.
Industry Issue Resolution Program
After years of living in denial, the IRS has come around to...
You’ve been feeling uneasy (perhaps even guilty) because you’ve failed to report your under the table business income. Perhaps you’ve never filed a tax return, even though you know you owe money. Finally, you contact an accountant to resolve the situation.
Although it is...