Every year, more and more people are turning to online tax preparation and e-filing programs to do their income taxes. At 1040.com, you can e-file your taxes quickly, affordably, and securely. After answering a few questions, you’ll be matched up with the tax form that best fits your situation. At 1040.com, you get a free [...]
Income Taxes
If you are a United States citizen you will need to file a federal income tax return every year to determine how much you owe in federal income tax. Although many people are intimidated by the thought of filing their tax return, there is no reason to panic each April. Income tax filing is a [...]
For numerous Americans, the thought of paying income taxes makes their spine tingle. While everyone knows that individual income taxes are paid to the IRS (Internal Revenue Service) each year, the process of taxation itself can be confusing to many. There are various factors that affect how personal income is taxed and how much you [...]
First and foremost in determining how to reduce your taxable income is understanding what is considered taxable income and being well versed in what allowable tax deductions are available to you. [See related article “What Is Taxable Income?”] It is also important to understand individual income taxes so that you know what to expect each [...]
While the IRS has taken strides to become more taxpayer friendly over the years, sometimes Uncle Sam and the taxpayer still can’t see eye to eye. If it seems that the IRS is being totally unreasonable in their dealings, you may be wondering what to do about it. Of course you’re not going to sit [...]
Wondering what exactly to do with your tax refund? Instead of blowing it on a nice dinner or just letting it sit in your bank account, why not receive your tax refund as a savings bond? Starting in January, the IRS allowed taxpayers to buy US Savings Bonds with a portion or the entirety of [...]
Don’t want to just get another check from the IRS this year? Worried you might just blow it on that fancy new kitchen table you saw at Ikea? Don’t worry, you’re not alone. That’s why there are several options available to you instead of just getting a check in the mail this tax season. Let’s [...]
If you’re in the Gulf region, you’ve probably had a hard enough day to day life to deal with his year, minus dealing with the headache of paying taxes. As you well know, the oil spill still affects millions of people and has disrupted lives all along the shore. Luckily, the IRS has opened a [...]
If you participated in the First Time Home Buyer (FTHB) tax credit program, which allowed an $8,000 credit for first time home buyers who purchased their residences between January 1, 2009 and April 30, 2010, there are a couple of potential tax headaches on your horizon as the IRS struggles to process your paperwork. You [...]
Have you been affected by a natural disaster? Then you may need help from the IRS this tax season. Luckily, they have certain programs in place to help you out! Here are five ways the IRS can help after you’ve experienced a natural disaster: 1. Deduct Cleanup Expenses During a disaster there’s obviously going to [...]
