The Marketplace Fairness Act
One of the many perks of online shopping, the lack of online sales tax, may soon be a thing of the past as the Marketplace Fairness Act, an official Senate Bill, is on its way to the House of Representatives. As of 1992, online retailers have only been required to collect sales tax from consumers that live in the state where the online store has a “physical presence”. However, tension was slowly mounting as smaller businesses tried to keep up with the many perks the online world offered.
Retailers on the web slowly began to … Read the rest
Free Tax Preparation To Qualified Earners
It is that time of year again; time to get out your tax documents, records, and W2s and do your taxes. Some people dread this time of year as they know they will owe the government money. Other people look forward to it as they know the government will be sending them a check. Still others just do not like it at all knowing that they will need to take the time to file their taxes.
If you dread this time of year because you are confused about your taxes or need help … Read the rest
Microsoft May Owe Denmark A Billion Dollars
Throughout its known history, corporate America has not been unfamiliar with the concept of companies seeking to enhance their profits by saving on high taxes. The three giants of American IT – Google, Yahoo and Microsoft have faced the ire of several competitors and governments in their efforts to place billions of dollars in tax havens or through complex, layered acquisitions. Today, Microsoft finds itself in troubled waters with the taxation authority of Denmark who have levied a charge of over $1 billion on the technology giant in back taxes and fines.… Read the rest
February 26, 2013 – 10:21 am
Obtaining Prior Year Tax Information
The ability to get prior year tax information from the IRS is virtually a guarantee due to the fact that the IRS is required to keep tax returns on file for seven years. As with most actions related to the IRS there is a form that is required to fill out in order to obtain prior tax information. This is Form 4506 that can be found by completing a simple form search on the IRS website. The IRS will not provide prior tax information without filling out a hard copy of Form 4506.
The … Read the rest
February 18, 2013 – 8:45 pm
How To Organize Your Tax Records
Learning how to organize your tax records can save you stress and time when it is time to file your taxes. Start the year with an organization system so you know where all of your records are when it is time to file your taxes. If you aren’t sure what records you need, here is a general guide that is suitable for most people.
Income
Your employer will issue a W-2 with your income and tax information for the year. You should also include interest statements from investment accounts and any 1099s that … Read the rest
By Steve
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Also posted in TurboTax
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Tagged Accounting, Charitable organization, Expense, Internal Revenue Service, IRS, IRS tax forms, Real estate, Receipt, Tax, Tax preparation, tax return, TurboTax, United States
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February 12, 2013 – 6:52 pm
How To Free File Online Using The IRS Website
Many taxpayers are using free file online programs that are based on popular tax software programs like the TurboTax 2013 programs. The free file online program is offered directly by the IRS on their website. It is available to all taxpayers, but different taxpayers can access different portions of the program based on their income and other factors.
The IRS free file online program connects taxpayers with participating software companies like TurboTax 2013. Taxpayers can choose between a range of software programs including the TurboTax 2013 Freedom edition. Once the … Read the rest
