Tax Business Advisor

This article on the CNN Money website talks about how IRS auditors are cracking down on businesses that are using contractors. If you use contractors in your business, find out what you need to do to avoid IRS scrutiny.

Top 10 First-Time Homebuyer Credit Tax Tips

There is still time to claim the First-Time Homebuyer Tax Credit on your 2009 tax return. If you purchased or entered into a binding contract to purchase a home in 2009 or early 2010, you may be eligible to claim…

Seven Things about Getting More Time to File your Tax Return

If you can’t meet the April deadline to file your tax return, you can get an automatic six month extension of time to file from the IRS.

Here are seven things you need to know about filing an extension:

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IRS TD 9481 (REG-119518-07)

TD 9481 contains final regulations relating to travel expenses of state legislators while away from home. The regulations affect eligible state legislators who make the election under section 162(h) of the Internal Revenue Code (Code). The regulations clarify the amount…

IRS Payment Options Include E-pay, Credit Card, Installment

WASHINGTON — The Internal Revenue Service today reminded taxpayers to pay all taxes due by the April 15 deadline to avoid interest and failure-to-pay penalties.

Filing and Paying on Time Saves Money

If you have a balance due and do…

Special Payroll Tax Exemption Form Now Available

WASHINGTON — The Internal Revenue Service today released a new form that will help employers claim the special payroll tax exemption that applies to many newly-hired workers during 2010, created by the Hiring Incentives to Restore Employment (HIRE) Act signed…

IRS Announcement 2010-22

Announcement 2010-22, On March 18, 2010 the Hiring Incentives to Restore Employment (HIRE) Act of 2010, Pub. L. 111-147 (H.R. 2847) was enacted including FATCA which makes a number of changes to the tax law affecting foreign account tax compliance. …

Can’t Make the April 15 Filing Deadline? Get an Extension with Free File

WASHINGTON — Taxpayers who need extra time to file their federal returns this year can file the Form 4868 request for an automatic extension through IRS Free File. The extension gives you an additional six months, until Oct. 15, to…

Three Ways to Pay Your Federal Income Tax

People who owe taxes but can’t pay the full amount owed by the April deadline should still file their return on time and pay as much as they can to avoid penalties and interest. If you can’t pay the full…

IRS Continues to Increase Oversight of Tax Return Preparers to Improve Compliance, Taxpayer Servic

WASHINGTON — As the April 15 tax deadline approaches, the Internal Revenue Service today announced initial results from its stepped-up effort involving enforcement and education to combat unscrupulous tax return preparers and protect the nation’s taxpayers.

The IRS said it…