Tag Archives: Taxation

Check Tax Return Online

Check Tax Return Online

Since the 2008 Economic debacle, the U.S. has looked for ways to maximize income while minimizing expenses. As a government’s chief method of income is the taxation of its citizens, the Federal government has looked to allowing the lapse of Bush era tax breaks, raising taxes where appropriate, and stricter guidelines for tax professionals.

This ethos is trickling down to the state level. In some of the harder hit states, new and tighter regulations concerning the taxpayer and his/her tax bill are coming into existence and the taxpayer is facing new and more intense scrutiny. … Read the rest

Taxes 2012, Santorum, Part Of The Solution Or Part Of The Problem

The Republican candidate Rick Santorum has a tax plan that would cut taxes, for Americans, but increase the budget deficit by nine-hundred billion in a year. This was reflected in a recent study. The more the deficit increases, the less the American dollars is worth. His plan is a short term fix, with no long term benefits.

The taxes 2012 Santorum plan would create a substantial tax cut of approximately seven-thousand and eight-hundred dollars for about sixty-nine percent of Americans. The problem with his proposal is that the households, which would benefit the most, are the richest ones in the … Read the rest

How long should you keep your tax documents?

Your tax documents are very important documents that you may need to refer to way after the time you actually file your return. More importantly, the IRS may need to refer to these documents at some point in the future and you therefore need to make sure that you do not dispose of your tax documentation once you have filed your returns thinking that you will never need the documents again.

Whilst most people are aware that they need to keep their tax documents for a certain amount of time many are not sure how long they should keep … Read the rest

Should they Abandon the Alternative Minimum Tax?

The AMT or Alternative Minimum Tax is that rare thing – a part of the tax code that most people agree on irrespective of their ideological or political leanings. It was originally established in order to make certain that the richest citizens in the US were going to be made to pay their own fair share of the national tax revenues, but most people now think that it is unfair it has not been adjusted along with inflation which in effect means that an ever growing percentage of not quite as wealthy Americans are falling within its remit and finding … Read the rest

The IRS Provides Offshore Account Disclosure

As we complete the strenuous task of paying our incomes taxes for 2010, we have to deal with the unleashed financial monster i.e. IRS tax audits.

Many taxpayers do everything possible to try the nearly impossible feat of evading the burden of taxes by using the measures as per the Internal Revenue Code to dodge their tax burden. Thus, they cause financial problems and auditing issues for the government, which in turn has doubled the auditing of tax returns for the richest USA citizens this tax season.

IRS professionals have definitely pulled up their socks with audits being … Read the rest

Using Taxbrain’s New Tax Preparation Video Service For Tax Assistance

Taxbrain Begins An Amazing New Tax Service: Instant communication with certified tax professionals without having to leave your home.

Taxbrain.com, a leader in the industry of online help with taxes, has just decided to provide another great service. That is YOU&US, a video service that lets your taxes be done by professionals, all online. You can ask them questions or for suggestions or guidance, or just sit back and watch as your taxes are prepared correctly and efficiently. It is like having a professional right in the room with you. this program is a browser based that allows video … Read the rest