Tax Lien

13.4M People May Owe More Taxes Because of Making Work Pay Credit

Approximately 13.4 million taxpayers who received the Making Work Pay Credit that was included in the economic stimulus bill may end up owing taxes, [...]

Should You Use The Standard or Itemized Deduction on Your Taxes?

Ah, the classic question.  Should I use the standard deduction or itemize?  The answer is simple of course: you should use whichever deduction is greater, [...]

Don’t Panic! Eight Things to Know If You Receive an IRS Notice

The Internal Revenue Service sends millions of letters and notices to taxpayers every year. Here are eight things taxpayers should know about IRS notices - [...]

Timing Mistakes That Cost Thousands of Dollars

Sometimes we need to talk here about costly taxpayer mistakes that could have been avoided with professional consultation. Take the recent case of a securities [...]

Getting the Right Amount of Tax Withheld

In most situations, the tax withheld from your pay will be close to the tax you figure on your return - if you follow these two rules. You accurately [...]

Tips on Tips

Do you work at a hair salon, barber shop, casino, golf course, hotel, or restaurant, or do you drive a taxicab? The tip income you receive as an employee from [...]

Household Employees and Withholding Taxes

If you employ someone to work for you around your house, it is important to consider the tax implications of this arrangement. While many people disregard the [...]

Haven’t Filed an Income Tax Return? What to Do

Filing a past due return may not be as difficult as you think. Taxpayers should file all tax returns that are due, regardless of whether or not full payment [...]

Hiring New Employees? New HIRE Tax Benefits

Two new tax benefits are now available to employers hiring workers who were previously unemployed or only working part-time. These provisions are part of the [...]

Small Businesses and Health Care

Many small businesses and tax-exempt organizations that provide health insurance coverage to their employees now qualify for a special tax credit. Included in [...]