Category Archives: TurboTax

Intuit Offering Personalized Answers To Questions About The Affordable Care Act

Intuit Offering Personalized Answers To Questions

To provide assistance to the estimated 50,000,000 uninsured US citizens facing crucial healthcare decisions, Intuit Inc recently launched their TurboTax 2012 AnswerXchange. This is a unique social community that gives people customized, objective answers to their questions about Obamacare (i.e. the Affordable Care Act). This community is designed for people with no insurance, who want to know about the kind of healthcare cover available, and the cost of the Obamacare insurance exchanges.

Obamacare Protest at Supreme Court

Obamacare Protest at Supreme Court (Photo credit: southerntabitha)

Now, millions of people can use the TurboTax AnswerXchange, which is an impartial resource committed to helping citizens make informed decisions about their health insurance. The free to use website is www.turbotaxanswerxchange.com. It assesses the personal details submitted by site visitors and uses this, alongside the experience and knowledge of a web community, to answer the questions of millions of Americans. The answers can be customized to each user’s income, family, health requirements and location.

In contrast to other question and answer websites, the TurboTax AnswerXchange delivers bespoke responses to the countless questions Americans have about Obamacare. In light of the continued uncertainty and confusion about healthcare reform, the demand for personalized answers has hit an all time high. A recent NBC News/Wall Street Journal poll reports that seventy-six percent of respondents, with no insurance, did not understand the reforms and how they would be affected.

Healthcare decisions are personal by nature. Hence, TurboTax AnswerXchange has emerged as a first of its’ kind solution that delivers exactly what people require: Straightforward, doable answers tailored to their specific circumstances.

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How An IRS Debt Relief Program Can Get Your Taxes Back On Track Again

IRS Debt Relief Program

The IRS is well known for pulling strong-arm tactics on those who do not pay their taxes, but to be honest, they do have a softer side for those who have a legitimate reason for being late with their payments. To make it easier for you the taxpayer, as well as the IRS, they have developed programs for you to use, to get your tax payments back on track again, and in their good books again, as it were.

IRS Form 1040X, 2005 revision

IRS Form 1040X, 2005 revision (Photo credit: Wikipedia)

Installment agreement is an IRS debt relief program aimed at those who owe a large amount of money. Basically, they let you pay off the money in even installments, until the debt is fully paid. Interest will still accumulate on these late payments though, so the bigger the payment you make each month, the better.

Then there is the Penalty Abatement Program which, if you can prove without a doubt, that you have a viable reason for not being in a position to pay your taxes, will have the IRS do away with the penalties to reduce your debt to them.

The Non Collectible Status IRS debt relief program, is for those who are barely existing on their wages and just do not have the money to pay their late taxes. For these people, the taxman will stop taking any action against them, until their circumstances have improved. Again, interest will still accumulate on any money owed to the IRS, so it is a good idea to get it paid off as soon as possible.

Anyone considering using an IRS debt relief program, is can call an Enrolled Agent at IRS Tax Relief who will guide them through the whole process of getting their tax payments back on track again.

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Getting 2012 Taxes For Free

Getting 2012 Taxes For Free

Many reasons exist that an individual taxpayer would want to get his or her 2012 taxes for free. One reason may be that he or she simply forgot to file. The 2012 taxes had a deadline that ended in April. Therefore, a person who owes taxes may have to pay interest and fees implemented by the Internal Revenue Service. Getting the taxes done free will save that person some money so that he or she can use the rest to pay the IRS.

IRS Form W-2

IRS Form W-2 (Photo credit: Wikipedia)

Another reason someone might want his or her 2012 taxes for free is a huge refund. Single mothers and students can sometimes obtain large refunds because of their annual diligence and struggles. The government looks kindly upon those individuals. Therefore, any person who has not yet filed taxes would be happy to get them done free.

An individual can get 2012 taxes free in a wide variety of locations. The number one place to file taxes free is the government website. However, several independent providers offer tax-filing services to individual taxpayers and businesses. Each provider has varying features and benefits, and each provider has a specific period for filing taxes. The best way for a person to get 2012 taxes free is by conducting research and working with the provider that offers the fastest turnaround and the best customer service.

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Complete Your 2012 Tax Return For Free

Complete Your 2012 Tax Return For Free

It’s time to prepare your 2012 tax return. But have you ever considered submitting your federal income tax return online? Well, if you are ready to deal with your 2012 tax then there’s good news; you can prepare and file your taxes for free. You have to admit that it would be far simpler to do all of your federal income tax preparation from the comfort of your own chair and then file the taxes for free. You can file your taxes for free if you use an online tax software provider. If you have all of the information for your 2012 tax return to hand then you can do the job in no time at all.

US Navy 080206-N-6538W-008 Electrician's Mate ...

US Navy 080206-N-6538W-008 Electrician’s Mate 2nd Class Nathan Hansen, left, helps Operations Specialist 1st Class Paul Lutton prepare his tax return aboard the Nimitz-class aircraft carrier USS John C. Stennis (CVN 74) (Photo credit: Wikipedia)

OK. So how do you go about doing your taxes for free online and preparing your tax return for 2012? Look online and locate a federal income tax preparation software site that has been IRS approved. The majority of the sites that let you file your 2012 tax return for free are easy to understand.  In fact doing your taxes has never been so easy. Anyone who is filling in their 2012 tax return needs to know that the site they use is speedy and secure. Find a site you like and fill in your 2012 tax return. When you have given all of the federal tax information needed then it’s time to let the software take over. Submitting your taxes has never been as easy and you can do all of this for free.

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The Marketplace Fairness Act

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.

English: Lochalsh Butchers Located in Station ...

English: Lochalsh Butchers Located in Station Road, Kyle of Lochalsh. This is a thriving local business with three other shops in the locality, offering online shopping, home delivery and mail order. (Photo credit: Wikipedia)

Retailers on the web slowly began to push that little edge, and allowed cheaper prices for the same product. Physical stores eventually caught onto the new trend, realizing that they had become showrooms for consumers who would end up leaving the store to buy the same product online.

The only thing slowing online shopping then was the shipping. Most would offer free shipping as a way to rope in new buyers; but people that really want something, have to have it right away, right? Nothing beats having your purchase in your hand right away. That was, until the start of the same day or next day shipping guarantee. That was the last push that gave small businesses all of the evidence they needed to argue the clear advantage online retailers possessed. They questioned how online retailers successfully carried out those guarantees without in-state affiliates. The bill easily passed with a vote of 69 to 27, getting support from both the Democrat and Republican parties. While large corporations and the average customer may not be affected much, this could mean a big loss for online retailers.

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United Way Offers Free Tax Preparation To Qualified Earners

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 filing your taxes but cannot afford it, there is good news for you.  The United Way has started a Free Tax Preparation Campaign that is helping lower-income wage earners receive all of the credits and refunds they qualify for, such as the Earned Income Tax Credit.  This service is completely free and comes with no obligation or hidden fees.

If your household earns less than $51,000 annually and your tax filings will not involve business taxes, income from rentals or the sale of stocks or property, you may qualify for help with preparing your taxes.  People whose first language is not English, who are not sure which deductions they may be eligible for or people who have trouble doing their taxes due to other disabilities or challenges will especially benefit from this free tax service.

There are several free tax preparation sites in various cities staffed with volunteers who are IRS certified and are multilingual.  In addition to free tax preparation services, people can also find out more about other forms of public assistance, such as:

• Utility Assistance
• Children’s Health Care
• Food Stamps
• Help with applications for college financial aid
• Receive credit reports
• Many other services

There is a limited capacity at each site.  For more information, including locations, translation services and required documents please visit www.uwkc.org/taxhelp.  If you do not qualify for this free tax preparation service, using a tax software program, such as Turbo Tax 2013, can help you navigate the filing of your taxes in a more concise simpler manner.

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Microsoft May Owe Denmark A Billion Dollars

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.

The Burden of Back Taxes

Steve-Ballmer-CBI-Annual-Lecture2009

Steve-Ballmer-CBI-Annual-Lecture2009 (Photo credit: The CBI)

According to industry sources, Microsoft acquired the Danish Enterprise Resource Planning (ERP) software company Navision A/S in mid-2002. The taxation authority of Denmark claims that parts of the company were then sold to a small Microsoft subsidiary in Ireland and the company’s profits funneled through tax havens such as the Bahamas, Bermuda and Switzerland.

Navision has been renamed Dynamics NAV and operates in several countries around the world. Microsoft also competes with another American major Intuit who offers a personal and small business finance product TurboTax 2013 that is regarded as a threat to some parts of Microsoft’s ERP software developed by Dynamics NAV. Denmark’s corporate taxes are fairly high — to the tune of 25%, but the government has been proposing a 3% reduction in order to attract foreign investment. With countries such as Ireland and the Czech Republic offering significantly lower tax rates and inexpensive labor, several U.S. and European corporations have moved operations there, while making profits in high-tax nations. However, Microsoft’s use of Caribbean tax havens and subsidiaries to maximize profits has caused significant turbulence in a fragile software and financial market. Although Microsoft may come through relatively unscathed, any penalties paid may encourage other world governments to step up and challenge the American software majors.

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