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Taxes : Business & Finance

Earned Income Tax Credit Information

If you or your family earns a low or moderate income, you may be entitled to receive the earned income tax credit (EITC). Depending on both your income and the number of children you have, your credit can be worth hundreds or even thousands of dollars. The Internal Revenue Service (IRS) even offers

If I File a 1099 Will I Get Tax Money Back?

Even if you derive the majority of your income from wages, you could still get additional income form other sources. Some of that income, including interest, dividends and nonemployee compensation, is reported via a 1099 form. If you receive 1099 income, it could reduce the size of your refund or ev

How to Fill Out Form W-4 in 11 Steps

Filling out Form W-4 is one of the first things you do when you start a new job. You also fill out a new W-4 if your financial situation has changed and you want to adjust your withholding.

Get Instructions and Information of IRS Form 5329

The Internal Revenue Service imposes a 10 percent penalty on early distributions from a qualified retirement plan. Early distribution, according to the IRS, is defined as a withdrawal of funds from a qualified retirement plan ...

Not Enough Taxes Were Withheld

Most employees have taxes withheld from their paychecks. The amount of money your employer takes out in payroll taxes is an estimate of how much you owe. Most of the time, you already have paid most or all of your income tax by the end of the year through payroll deductions. However, sometimes not

Fbar, You And The Law

Even if you do not owe taxes from a previous year you must still file the correct FBAR as the penalties will still apply. Unless you enjoy serving prison time you should not attempt to get around filing FBAR forms. The rules for FBAR forms and FBAR penalties can be confusing and tricky to get throug

Reasons for a Federal Tax Return to Be Flagged

When the Internal Revenue Service flags a tax return for an audit, it means that either a computer or a special team of agents identified something about it that requires closer inspection. The IRS wants more revenue, and it uses both of these systems to pinpoint returns that are likely to result in

7 Ways To Organize Yourself For Taxes

Don't let your accountant organize your receipts for taxes.You and only you are responsible to the IRS if your receiptsare not categorized correctly. Take your time, lay out yourreciepts, and place them in the category you think theybelong in. Attach each category to a sheet, list thecategory a

How to Calculate Federal Income Tax Refunds

The Internal Revenue Service is a United States government office that handles the taxes paid to the government by taxpayers each year. Taxpayers are U.S. residents who have an income higher than the amount of the standard deduction they are eligible to claim. Some U.S. residents have too much tax w

How to Make Schedules on iCalendar

Create schedules for every day of the month with Google's iCalendar application so that you can document an assortment of events and organize your time. Examples of the events you can schedule with this application include classes, meetings, birthdays, appointments and personal occasions. You can al

Tax Breaks for a New Roof Installation

Home improvements can involve high upfront expenses, but they can be beneficial over the long term due to increased home value, convenience and reduced energy consumption. Homeowners that choose to make energy efficient home upgrades may be eligible for federal tax credits. Certain types of new roof

What Do You Gain by Hiring a Tax Consultant?

A Tax Consultant is a professional, whose job profile requires him to advise his clients on all aspects related to taxation, ranging from necessary tax returns to estate planning. This article gives y

Taxes Earned on Profit of the Firm

There are different kinds of tax which are faced by an individual but some of them may include Corporation tax which is levied against the profit of a concern during the given period. These taxes ...

Things That Qualify for the Energy Tax Credit

Energy consumption is one of the foremost concerns in the modern economy. Consumers demand energy for a wide variety of purposes and the production of energy is often associated with negative environmental externalities, such as the emissions of greenhouse gases. The United States government provide

Who Can Ask for Tax Information?

Many individuals and entities can ask for tax information for various reasons. Tax information is necessary to verify income and employment. It is also used to calculate expenses related to child support and alimony payments. Legal professionals, employers and lenders also have the authority to ask

How to Adjust Your Property Taxes

Property taxes are a function of your actual home value, so in good times property taxes are high and in difficult times property taxes are low, or at least they should be. If your taxes have not been adjusted to the value of your home there are some things you can do to expedite the process.

How Much Sales Tax for a Car in Tennessee?

When you buy a vehicle in Tennessee, you may have to pay state sales tax on it. In addition to state taxes, individual Tennessee cities may charge local taxes. You must pay the sales tax upfront when buying a vehicle unless you qualify for an exemption under Tennessee law.

What Happens When Your Property Taxes Are Unpaid?

Failure to pay property taxes result in penalties and interest on the delinquent payment. In some cases, the property owner can lose the property through a tax lien foreclosure. This helps local governments effectively collect property taxes and provides opportunities for investors.