There are barely four months left for parents and college students to take advantage of the new American Opportunity Tax Credit. The credit is part of the American Recovery and Reinvestment Act of 2009. This credit helps parents and college students to offset the cost of college education and can be claimed by eligible taxpayers [...]

A lot of tax payers have come into trouble with the IRS because of tax scams. Homeowners, property managers, business owners, and individuals are warned of fines, prosecution, and possible jail time if they continue with these scams and avoid paying the right amount of taxes.
The Internal Revenue Service issues a list of the top [...]

Job-hunting may prove difficult these days, but maybe, just maybe, job hunting isn’t the right course for you in keeping up with these difficult times. A good idea, a good original product, or even a product that’s popular these may just be the ticket you need to keep yourself out of financial troubles. Starting a [...]

Having summer jobs is a great way to earn a little while school’s out. Whether you are doing it to help your family, earn your tuition or simply to have your own expense money during the summer vacation, the IRS wants you to know that you may or may not be subject to taxes especially [...]

Starting 2010, the income limit for allowing a taxpayer to convert a standard Individual Retirement Accounts (IRA) to a Roth IRA will be eliminated, giving individuals with high adjusted gross incomes the ability to have Roth IRAs.
Traditional versus Roth IRA
Roth IRAs were created by the Taxpayer Relief Act of 1997 (Public Law 105-34) to allow [...]

Responsibility to Collect and Pay Sales Taxes
Technically, if an Internet “etailer” does not collect the state sales tax for an online purchase (in a state that has a sales tax), the individual making the purchase should pay the tax to the state. In these cases, the state calls this a “use tax,” when paid directly [...]

When a business reaches certain revenue, employee or tax liability thresholds its obligations in regards to filing and paying various taxes changes. Business owners must be aware of these changes to their tax reporting and payment requirements to remain in compliance with the tax code. CPAs, professional tax preparers and business advisors should be consulted [...]

There are many issues to consider when starting or buying a business: permits, licenses and registration issues; employee withholding taxes; unemployment insurance; purchasing the assets and liabilities of an existing business; and annual tax returns, to name a few. Anyone contemplating starting a new business or buying an existing one should discuss the situation in [...]

Since its development and implementation in the mid-60s, the Internet has been mostly free from regulation and government control, though by the mid-1990s, some local and state governments began taxing Internet-related activities.

Tax Compliance Unit Actions
As noted previously in this series of articles on New York State’s “Taxpayer Bill of Rights,” the Tax Compliance Unit of the state’s Tax Department may take specific actions if a taxpayer with delinquent taxes fails to meet their tax obligations or negotiate a Deferred Payment Agreement. In addition, if a compromise agreement under consideration is withdrawn or rejected, the Tax Compliance Unit can take further action to collect the overdue taxes. These actions are outlined below.