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Taxes : Business & Finance

What is a Demand Letter From the IRS?

All taxpayers are required to pay the full amount of tax owed on or before the April 15 deadline. If the tax is not paid in full, or if payment arrangements (such as an installment agreement) have not been made, then the Internal Revenue Service (IRS) will begin to take enforcement action in order t

How to Amend Form 1040

Federal income tax returns are required filing by April 15 each tax year. Once you've filed your return, there's a sense of relief knowing that you don't have to deal with your income taxes again for another year until you check the mail and find a new W2 or other tax statement that should have been

When Does a Teenager Have to File a Tax Return?

A teenager files a tax return when his income exceeds Internal Revenue Service (IRS) income limits even if he is claimed as an unmarried dependent on his parent's tax return. If the teenager is self-employed, income exceeding IRS guidelines is also taxable, and he must file a return. Income includes

How to Check a Kentucky State Tax Return

When you file your tax return with the state of Kentucky, you want to make sure that the document has been accepted by the state and is being processed. If you have a big tax refund coming, you want to know when your check is in the mail. The state of Kentucky provides an easy way for its residents

Are Social Security Benefits Taxable?

Basically, if your only income is from Social Security, then you're not going to owe any taxes on your benefits.However, if you have earned income from a job, or if you have substantial investment income, part of your benefits could be taxable.

Can Purchased Assets Be Deducted?

When you buy assets for business purposes, you may deduct these expenses against your business revenues to reduce your tax liability. The Internal Revenue Service allows you to deduct assets using two methods, each with different tax implications. Before you file your business taxes, determine the a

How to Claim Parents As Dependents With Head of Household

Providing financial support to a disabled or elderly parent is often done at considerable personal expense. The Internal Revenue Service (IRS) recognizes this responsibility and allows the supporting family member to recoup some of the expense with tax return deductions. Whether the parent resides w

How to Use IRS Form 1040-ES

The IRS provides Form 1040-ES for taxpayers to report and make estimated tax payments throughout the year on income that has not been subject to tax withholding, including income from self employment, consulting and contract work. Most taxpayers must make estimated payments if, for any given year, t

Claim the Tax Relief on your Uniform the Right Way

This article highlights the special provision of uniform tax credit that is guaranteed to the workers in the United Kingdom wearing a uniform to office. Additionally, it also highlights the considerat

Why You Should Care About Taxes In September

Taxes, taxes, taxes who cares about taxes in September? The end of the year isnt for another three months and I dont have to file till April 2006. Who is even thinking of these things now? Well, you should be.

How to Calculate Stock Costs When the Purchase Data Is Unknown?

Having the cost of a stock is important when presenting information to the IRS at tax time. When the purchasing data is unavailable, however, proving the cost can pose a problem. Fortunately, for tax purposes, a calculated estimate is the generally accepted procedure. To arrive at the estimate you s

Find Relief With An IRS Tax Attorney

Having the IRS hound you for unpaid taxes and penalties can be one of the most stressful, horrific events that anyone can ever go through. There comes a point when immediate tax relief is absolutely necessary and an IRS tax attorney may be exactly what you need.

Things to Claim on a Tax Return

Failure to claim all your income can lead to penalties and even jail time.tax forms image by Chad McDermott from Fotolia.comNo matter how much or how little money you make, reporting every dollar you earn is important. Failing to report all your income could trigger an inquiry from the...

Indiana Tax Laws on Casual Labor Under $600

Certain characteristics of your job determine whether you are classified as an employee, contract worker or casual worker. Your employer's responsibilities and requirements change depending on how you're classified. For example, if you are classified as an employee, your employer must withhold taxes

How to Minimize Employee Taxes

If you hire an employee, you are responsible to pay employee taxes. The only way to lower employee taxes without depleting your workforce is to hire independent contractors. Independent contractors differ from employees because employers have less control over them. The IRS will consider three as

Taxation Services Provider in India

In India, the sphere of taxation services is extensive. It is comprised of a number of different charges and sense of duties. Basically, taxation is the most complicated and challenging task of all the financial ...

Work Related Tax Deductions

If you work from home or if you spend for travel on behalf of your company, you need to keep full documentation for all such expenses. You will also need to know the rules for claiming such expenses. Pick up some important tips from this article.

Income Tax Rates Act

There have been many income tax rates acts passed into law over the last generation as cutting taxes seems to be a popular strategy by politicians to get re-elected. President George W. Bush signed into law two major tax cuts during his first administration. Many of the income tax cuts in these la

Can a Debt Collector Garnish Your Wages in Addition to Child Support?

If you are the target of a debt collector, it is possible that they can garnishee your wages in order to satisfy the debt. Specific laws vary by state, but in most cases, they must sue and win a judgment in court and obtain a court order authorizing the garnishment. The IRS, however, does not genera