Every year when the tax man comes around in April, people scramble to get their taxes done and done correctly. It is absolutely a time of stress. Not only is the process confusing and annoying, but you end up losing money because of it. The ironic side is that the better you prepare your taxes, the more money you might end up owing. People even make money off of their ability to prepare your taxes for cheap. Fortunately, there are professionals within the IRS program VITA (Volunteer Income Tax Assistance) who will help you with your tax reports. However, each of these professionals must be certified within the IRS itself. What does the certification in the program entail? Continue reading
Taxes
How to Get Tax Relief: Scams and Reviews
Income tax debt is one of the more difficult types of debt to deal with. After all, the government has a way of securing any debt, and they will often collect their taxes before you get a chance to pay your other bills. If you are looking for income tax relief, how do you know who to trust when so many tax relief scams are operating? Continue reading
What is the Puerto Rican Tax Refund Scam?
Recently a Puerto Rico tax refund scam has cost the Internal Revenue Service almost $2 billion and jeopardized the identity of thousands of Puerto Rican adults and children. This scam has been in existence for around five years, and its perpetrators come from across the United States and Latin America. In many cases this scheme has been highly successful due to the cooperation of mail carriers, tax preparation specialists, and in some cases bank tellers. Continue reading
How to Request IRS Tax Debt Settlement
The process of resolving tax debt has many potential pitfalls. Not only can it be very time-intensive, but there are many false enticements that claim to offer easier ways to sort out your affairs. While it’s possible to resolve your problems with the IRS, it’s important to know what options are valid so you can choose the right debt settlement strategy for you while avoiding dangerous misconceptions about how to escape tax debt. Continue reading
How to File Taxes for Free
Personal income taxes are a terrible chore for most of us. Tax filing season comes once a year and many of us decide to wait until the last minute to file.
Why do we hate filing taxes so much? It can be confusing, we may owe money and we dread having to pay someone hundreds of dollars for half an hour of work. Filing taxes doesn’t have to be so bad. Here are some ways to get relief. Continue reading
How to Make Gains on Earned Income Tax Credit
Earned Income Tax Credit (EITC) can be one of the most confusing forms of credit authorized by the IRS, but it is also one of the most useful. It can be especially helpful to those of us whose jobs demand hard work but offer only a low to moderate income in return. An understanding of whether you are eligible for Earned Income Tax Credit works can help you determine whether applying for it might be a good idea. Continue reading
What is the IRS VITA Program?
The Volunteer Income Tax Assistance (VITA) Program, is a special needs operation sponsored by the Internal Revenue Service (IRS). The program aims in helping under privileged families fill out tax return forms. Continue reading
NC Tax Simplification and Reduction Act: What tax break?
Many North Carolinians are miffed by recent legislative reforms in the state. They’re tired of politicians spouting mindless, scripted rhetoric. The recent television ad with governor Pat McCrory saying “We’re stepping on the toes of the left and the right to make tough, necessary changes” only makes many North Carolinians more distressed. In this commercial—paid for by a 501(c)(4) group called Renew NC—McCrory makes some generic claims about how he is making the state better. Continue reading
North Carolina’s last tax-free weekend
For over a decade, parents in North Carolina have enjoyed the “tax-free weekend,” a three-day period at the beginning of August where they could purchase school supplies minus sales tax. The weekend has not only meant savings for families, it has also meant an influx of shoppers into local stores. Thanks to recent legislation, though, it is no more. 2013 marks North Carolina’s last sales tax-free weekend. Continue reading
Important tax forms for reporting your income taxes
Today (April 8) marks exactly one week before your taxes need to be filed. By now, if you haven’t already filed, you need to have correct documentation and the right forms to submit. Did you know there are over 800 various forms and schedules for income tax reporting? Filing your taxes can be tedious and confusing, so here is a checklist of important documents and forms you may come across during this time. Continue reading
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