Individual Income Tax

Infrastructure to generate Unique transaction Number (UTN) still not in place

Jun 22, 2009 The problem, though, is that infrastructure to generate UTNs is still not in place, leaving income tax assessees in a lurch as July 31, 2009, the [...]

Special Tax Break on New Car Purchases Available in States With No Sales Tax

WASHINGTON —The Internal Revenue Service and Treasury Department today announced that a tax break for the purchase of new motor vehicles is available in [...]

IRS, Partners Mark Super Saturday March 21 to Help Taxpayers

IR-2009-25, March 16, 2009 Audio Files for Podcasts: English SpanishWASHINGTON — The Internal Revenue Service and scores of its community partners will [...]

How to Avoid an IRS Audit?

Taxes are high enough; you don’t want to also pay penalties and interest because an audit reveals you’ve broken the rules. And Internal Revenue Service [...]

Unreimbursed Job Related Expenses (JRE) – Deductibility on tax return

A Tax payer can avail job related expenses as an itemized deduction in the tax return. All the expenses incurred should be towards business and must not be [...]

Consequences of Filing an Incorrect Tax Return…

You must be familiar with the adage that “ignorance of the law is no excuse.” In the area of “tax fraud,” however, this cliché may not apply.  [...]

Child Tax Credit on your US Tax return?

The Child Tax Credit (CTC) is an important tax credit tax payers may claim on their federal tax returns. Claiming the CTC will lower the amount of taxes that [...]