While most people are aware they must include wages, salaries, interest, dividends, tips and commissions as income on their tax returns, many don’t realize that they must also report most other income, such as: cash earned from side jobs, barter exchanges of goods or services, awards, prizes, contest winnings and gambling proceeds. This fact sheet, […]
Why Pay Taxes? The Truth About Frivolous Tax Arguments
The Internal Revenue Service today released an updated document discussing and rebutting many of the more common frivolous arguments made by individuals and groups that oppose compliance with federal tax laws.Anyone who contemplates arguing on legal grounds against paying their fair share of taxes should read this document first. This 74-page document, The Truth about […]
IRS Has $110 Million in Refund Checks Looking for a Home
The Internal Revenue Service is looking for 115,478 taxpayers who are due refund checks worth about $110 million after the checks were returned as undeliverable.The refund checks, averaging about $953, can be claimed as soon as taxpayers update their addresses with the IRS. Some taxpayers have more than one check waiting. “Taxpayers should not miss […]
What Comes After the Holiday Season? Tax Season!
Now is the time to take a look at your business and see if there is anything you can do to save money on your taxes for 2007. Once January 1st hits it may be too late for many of these tax saving ideas.Get Your Books In Order Set up an appointment with your accountant […]
Tax Quotes
Did you ever notice that when you put the words “The” and “IRS” together, it spells “THEIRS?” ~Author Unknown Intaxication: Euphoria at getting a refund from the IRS, which lasts until you realize it was your money to start with. ~Author unknown, from a Washington Post word contest Unquestionably, there is progress. The average American […]