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Could you be taxed for the free donuts and coffee your employer provides you at work?…They say it’s an issue of fairness to ensure that workers at large corporations with higher than average salaries are paying their fair share of taxes.
Category: Tax Preparation
With just a few more days until the 2012 income tax filing deadline, there are still a few tax-cutting moves you may be able to make on or before April 15th.
When You Can’t Afford to Pay Your Taxes Now
April 9, 2013
Taxpayers who are having trouble paying what they owe may qualify for payment plans and other relief. Check things out online.
The Cost of Filing Late & Paying Late
April 8, 2013
When it comes to filing your income tax return and paying the taxes you owe, don’t expect any favors. You face penalties for failing to file and filing late; and, if you also owe taxes, you face penalties for failing to pay and paying late.
More Tax Deadline Pressures Make News
April 1, 2013
Many professional tax preparation services agree that this tax season is unprecendented in the number of last-minute tax filers.
Free Tax Extension Filing Offer
March 29, 2013
This offer applies to clients who have suffered delays and setbacks in getting their tax records and necessary tax forms compiled in time for processing and submission by the April 15th deadline.
Mortgage Debt Forgiveness & Tax Consequences
March 26, 2013
If your lender cancelled or forgave your mortgage debt in 2012, the debt forgiveness generally results in taxable income. Yet there is some tax relief for those who qualify.
List of 31 Tax Forms in Delayed Release
March 25, 2013
The taxpayer will be responsible for detailing how the late payment was connected to a specific delayed form or forms in order to qualify for a penalty waiver. Here is the entire list of 31 delayed forms.
IRS Allows Late-Payment Penalty Waiver
March 21, 2013
The IRS has announced it will waive the penalty normally assessed for late payment of income tax for taxpayers who are affected by the delayed release of 31 different forms commonly used for tax preparation.
H&R Block Faces Lawsuit Due to Filing Error
March 20, 2013
The recent filing mistake by large-volume tax preparation provider H&R Block has now resulted in a class action lawsuit.
