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Feb 08th
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Home and Family Taxes
Senate panel hears about European tax havens E-mail

July 17: A Senate investigation explored how more than 19,000 Americans are hiding at least $18 billion in just two foreign banks, estimating a loss of up to $100 billion in taxes. NBC's Lisa Myers reports.  (Nightly News)A man wanted by Liechtenstein for leaking secret bank records that identified millionaire tax cheats told lawmakers on Thursday about elaborate sham transactions and code words used to outsmart the IRS.


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House OKs alternative minimum tax relief E-mail
The House voted Wednesday to protect more than 20 million mostly upper-income taxpayers in danger of being slapped with a tax increase averaging $2,300 because of the alternative minimum tax.
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IRS raises the amount deductible for mileage E-mail
The Internal Revenue Service, citing the drain that high gas prices are having on people's finances, said Monday it is raising the automobile mileage rate that businesses and others can claim.
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IRS says up to 350,000 tax rebate checks wrong E-mail
Up to 350,000 households aren't getting the $300 per child owed them as part of their economic stimulus rebate payments, the Internal Revenue Service said Thursday.
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Taxpayers with foreign spouses miss rebates E-mail

"I know they want to exclude illegal immigrants ? but I'm not illegal," Ranjeet  Kumar says. Because his wife Minanshu's immigration status doesn't allow her to work and they filed jointly, they won't get the tax rebate.When Maulit Shelat heard about the Bush administration's plan to pump up the economy by sending out stimulus checks, he sat down with his wife and drew up a list of priorities: first up, remodeling the bathroom.


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Home Office Deduction Many people whose small businesses qualify them for a home office deduction are afraid to take it because they've heard it will trigger an audit. But this deduction is no longer a red flag for an IRS audit. These tips can help you determine if you qualify to take the deduction--and rest easy when...
Brought to you by TurboTax.com
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General
Philly trying to preserve jobs while making cuts (AP) AP - Nearly a year ago, Mayor Michael Nutter took office amid glowing optimism: With the slogan "A New Day, A New Way," he promised to add hundreds of police officers, scale back taxes and help more Philadelphians get college degrees.
 
Filing Taxes
5 Smart Ways to Use That Refund Sample ImageWhile nobody likes filing tax returns, most people are rewarded handsomely for their efforts: About 75% of taxpayers get a refund, according to the Internal Revenue Service. In 2005, the average refund rang in at more than $2,000, a nice chunk of change.
Investment Taxes
OMB Control Numbers The Disclosure, Privacy Act, and Paperwork Reduction Act Notice for the
IRS Form 1040 states in part:
You are not required to provide the information
requested on a form that is subject to the Paperwork
Reduction Act unless the form displays a valid OMB
control number.
The fact that such a warning is printed on the IRS Form 1040
 
Work and Business Taxes
Tax Tips for Married Business Owners When married couples run unincorporated small businesses, they can really get nailed by the federal self-employment tax (SE tax). In fact, these small-business owners often face SE tax bills that exceed their federal income tax bills.
Home and Family Taxes
Broke states offering amnesty for tax cheats Desperate to bring in revenue in the middle of a recession, states across the country are adopting tax amnesty programs, offering to let people pay their past-due bills.
 
 
  • Newsflash
    AP - More than 3 million people will have to wait until February to get their tax refunds because of Congress' late fix to the alternative minimum tax, the IRS said Thursday.
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