General Electric filed an income tax return for 2010 claiming zero taxes owed. Did I hear that correctly? It is true, and it has a lot of tax reformers fuming. Continue reading
Taxes
Can Blue Tax Really Settle My Tax Debt?
Television commercials for BlueTax.com claim that they can rid you of burdomsome back taxes. They make amazing claims that they can eliminate penalties and reduce your tax debt. There is a problem with their approach: some of their claims cross the line of what is considered fair advertising. Continue reading
How to Benefit from the IRS VITA Program: A Less Taxing Option
Having difficulty preparing your tax returns? Do you feel uncertain about hiring a private professional? There are many ways in which you can gain assistance. It is possible for taxpayers to report their assets to the government and fulfill the demands of the IRS in a manner that suits their needs without requiring them to pay expensive fees charged by a tax professional. The federal government (in conjunction with some state authorities) offers this aid through the IRS VITA (Volunteer Income Tax Assistance) Program, as well as the Tax Counseling for the Elderly (TCE) Program. Both were created in response to the difficulties that millions of Americans face when trying to complete their tax forms independently and the two programs continue to provide assistance today. Continue reading
TaxMasters is Hit With Minnesota Lawsuit for Fraud and Deceptive Trade Practices
TaxMasters has been served notice of a lawsuit filed by Minnesota Attorney General Lori Swanson. Swanson’s suit is for consumer fraud and deceptive trade practices in regards to TaxMasters’ advertising and sales practices. It follows similar actions against TaxMasters by the state of Texas. Continue reading
How to Report Taxable Gains and Losses on Stock
As if tax preparation were not already enough of a headache, it can be especially complicated when trying to figure out how to report taxable gains and losses on stocks. While this can easily be facilitated by your stock advisor or investment firm, this information has been notoriously difficult to obtain. Most financial statements have lacked this key piece of information, causing undue hardship and aggravation from investors seeking to file their own income tax returns. Continue reading
Obama’s Payroll Tax Cuts and You
7 DEC 2010 — BBC NEWS reported yesterday that President Obama has agreed a deal with the Republican Party to extend Bush era tax cuts for all Americans regardless of income level. Of interest in today’s column is the proposed 2% cut in the payroll tax for 2011. Continue reading
How to Pay your Taxes with a Credit Card
With tax season around the corner, many households will be wondering how to pay for the amount they owe Uncle Sam. The good news is that you won’t have to fork over your tax bill in cash, since many tax filing services allow you to pay by credit or debit card instead. However, there is an additional fee associated with using these services. In addition, paying with plastic only slightly delays the need to pay up in full, and so the main benefit is one of convenience. Continue reading
How to get holiday loans for tax refunds
October is on us now, meaning the end-of-the-year holiday season is approaching soon. (You’ve probably already seen Christmas products in retail stores, before you’ve even bought that pumpkin for Halloween.) That means you’re most likely thinking about getting that special someone or your kids a few gifts, gifts that might put a hole in your pockets. In the currently struggling economy, you know about the dangers of having too much debt. If you read the article about charge-offs, you know some things with candy-coated names are not as sweet as they seem. The holiday loan is another one of these items. Continue reading
FTC: American Tax Relief Ripped off 20,000 Clients
American Tax Relief claimed to be able to reduce the income tax bills of their clients. Their television commercials were compelling. To further attract clients, they mailed postcards to solicit the business of those hit with federal tax liens. Continue reading
How to Prepare for the Tax Season
If you dread April 15th, you’re certainly not alone— millions of stomachs churn at the threat of parting with money, or the accompanying paperwork. It’s even worse if you put it off until the last minute.
So instead of making things tougher, why not prepare for tax day today? Continue reading
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