The IRS vs Mother Nature

The IRS recently met its match in the form of Mother Nature. Yes, the massive flooding in Washington, D.C., took out the IRS headquarters.

IRS Issues Tax Credit Amounts For GM Trucks

As 2006 rolls along, the IRS is in the process of issuing tax credit amounts to particular hybrid vehicles. The agency has just issued the amounts for a number of GM vehicles.

Honda Natural Gas Cars Issued Massive Tax Credits By IRS

Between global warming and massive increases in fuel prices, many people are reconsidering their transportation. Honda has two natural gas cars the IRS absolutely loves.

Health Savings Account

A health savings account is a tax-free savings account similar to an individual retirement account. It is designed specifically to pay for medical expenses. These expenses are wholly tax-deductible for self-employed account holders. Cash from these accounts can be withdrawn effortlessly by using a check or debit card. It facilitates payment of routine medical expenditures with tax-free money.

Latest Email Scam Using IRS Name

If you have an email account, and who doesn’t, you are use to receiving scam emails. Well, here is one using the IRS name to watch out for over the next few months.

Employer Cash Incentives To Employees For Hybrids

Many companies offer their employees cash incentives to undertake certain actions such as buying a hybrid car. It is important to remember that such situations have tax consequences

Treasury Department Report Supports Permanent Tax Relief

According to a new analysis of the Bush's tax cuts by the Treasury Department, making certain cuts permanent will boost America's economy for the long-term.

Selling Your Business - Deal Structure and Taxes

When you sell your business, getting good tax advice before the deal is structured is worth its weight in gold.

Three Property Tax Policy Options For New Jersey

Here are three property tax policy options for New Jersey citizens and government leaders to consider. They are presented in an easy to read format; namely the statement of a problem that property taxpayer's face in New Jersey, followed by a policy option and its principal pro and con argument. Counting the number of tax lien foreclosure collections on residential properties, particularly those of senior citizens and disabled, could be used to argue for a moritorium on homeowner property tax foreclosure. Permit, through a voter referendum process, the local voters of a school district, to replace real property taxes imposed for school purposes with a local tax on the income of individuals, estates, trusts, corporations and unincorporated businesses. requiring each municipal tax collector to include in the annual mailing of individual tax bills each year tax year a statement containing a tabulation in a columnar format with explanatory information of the effect of State aid on local tax rates by purpose of tax based on a report sent to each tax collector by the State Treasurer.

Tax Revenues Lowering Estimated Size of 2006 Federal Deficit

The Congressional Budget Office has lowered the estimated size of the US federal deficit for fiscal year 2006. The decrease in the expected deficit is largely a result of high tax revenues.

The Basics of IRS Property Auctions

Buy a home, car, helicopter, NFL team or whatever for one measly dollar. Ah, we must be talking about IRS property auction hype.

Don't Just Worry About Federal Estate Taxes

Many states have their own estate tax laws that you need to worry about. With the current law phasing out the estate tax over the next few years, the state's are beginning to feel the pinch of having less federal estate-tax revenue coming in.

Federal Tax Returns

Congress first imposed the first federal income tax in 1862 to raise money for the Union in the Civil War. A 3% tax was fixed on incomes above $600. Those with incomes above $10,000 had to pay 5% in taxes.

List of Tax Records To Keep

When preparing your taxes, the goal is obviously to deduct every last penny you can. Many people are amazingly good at it. Just keep in mind you need receipts for the deductions.

Taxes for Day Traders and Investors

Whether you are an active day trader or just put money into the market for long term gains, taxes are something you need to address. The IRS views traders and investors differently.