incometaxes

This post was written as part of a series on tax excuses that don't work. The Internal Revenue Code specifically says that a "taxpayer" is a person subject to the code, and that "person" includes individuals, trusts, estates, partnerships, and corporations. Tax protestors somehow interpret this...

This post was written as part of a series on tax excuses that don't work. The Fifth Amendment of the U.S. Constitution gives people the right to not incriminate themselves in criminal matters. This means they don't have to testify in criminal trials of themselves. They don't have to tell on...

This post was written as part of a series on tax excuses that don't work. While we may all wish this one was true, it's not. Quite clearly, the Internal Revenue Service is a bona fide federal agency and has the authority to collect income taxes from us.Tax protesters claim that in order for the...

Whether someone can do their own taxes is an interesting question. The U.S. tax code gets more and more complicated with each passing year. Another year, another set of rules added to the previous set of rules.If you have a very simple and straightforward tax situation, with a job, a house, and a...

Almost all married taxpayers will get the best results if they file their tax return jointly. There are very few situations in which filing separately makes sense, and it almost always costs the taxpayers more money to do so. The two most common situations in which it makes sense to file...

A tax credit is one of the most valuable pieces of the tax calculation that a taxpayer could have. After you calculate the amount of taxes you are supposed to pay, a credit is subtracted from that amount. So the credit directly reduced what you pay to Uncle Sam.A credit is better than a deduction,...

There's nothing more aggravating when preparing an income tax return than missing key pieces of information or having inaccurate information. Whether you're going to prepare your taxes yourself with the help of Turbo Tax, or you're having a professional do them, get organized before you start to...

If you're one of the millions affected by the Alternative Minimum Tax (AMT) temporary fix approved by the House of Representatives last week, you may have to wait to get your refund.The fix is good for taxpayers, but bad for the Internal Revenue Service. Any form affected by the change won't be...