Tax Law : Law & Legal & Attorney

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Import & Excise Duty

Import & Excise Duty

Importing goods from other countries can be challenging and expensive. However, it can also be a rewarding experience once you have the information necessary to complete the process successfully.......[Read More]
The International Tax Agreement Act of 1953

The International Tax Agreement Act of 1953

The International Tax Agreement Act of 1953 is an extensive piece of Australian legislation that confirmed various conventions between Australia and other nations with regards to international taxes. The act is constantly updated, to coincide with new international tax conventions.......[Read More]
EIC Instructions

EIC Instructions

When it comes to the EIC, or Earned Income Credit, it is important to understand what it is, who is eligible for it and how it works. The Earned Income Credit can make a huge difference on your income tax return, affecting what you pay in taxes and if you receive a refund. However, you must be certa......[Read More]
How Early Can You File Your Taxes Online?

How Early Can You File Your Taxes Online?

Taxpayers can file their taxes online.tax forms image by Chad McDermott from Fotolia.comFile on Jan. 15The first day to normally file a taxpayer's income taxes with the Internal Revenue Service's e-file program is Jan. 15. This is the first day that all the forms become available and the.........[Read More]
How to Write Off a Fuel Allowance

How to Write Off a Fuel Allowance

If your employer gives you a fuel allowance and reports the allowance as part of your wages on your W-2, you may be able to write off part of your vehicle expenses. The most common way to write off vehicle expenses is to use the standard mileage rate. The rate was 50 cents per mile in 2011, but it c......[Read More]
The Top Missed Itemized Deductions

The Top Missed Itemized Deductions

One way to make filing your taxes an -- almost -- enjoyable experience is receiving deductions for applicable expenses. Problem is, some people miss deductions that might mean paying less with your return or even getting money back. Some taxpayers feel it is simpler to claim a standard deduction, bu......[Read More]
Can a Tithe Be Deducted in a Tax Return?

Can a Tithe Be Deducted in a Tax Return?

A tithe a donation of one-tenth of your earnings to a cause. It is usually considered in terms of members giving to their church. For many people, their tithe is the largest charitable contribution they will make to any qualified organization for the year. In most cases, the contribution is tax dedu......[Read More]
Can a Spouse Be Responsible for Back Taxes?

Can a Spouse Be Responsible for Back Taxes?

The newly married expect some surprises but back tax debt is not high on anyone's list of relationship-building couples activities. In fact, learning that tax debt may affect marital finances may raise a lot of questions about who is responsible for paying the bill. A spouse can be held responsible ......[Read More]
How to Change Corporate Tax Filing Status

How to Change Corporate Tax Filing Status

The IRS considers any new corporation a C-corp until the election to become an S-Corp is made through the filing of Form 2553. An S-corp rarely changes to another type of filing status, unless there have been extenuating circumstances.......[Read More]
How to File Taxes for Deceased Individuals Federal Law

How to File Taxes for Deceased Individuals Federal Law

When someone dies, a personal representative with authority over the person's financial affairs must take responsibility for filing the deceased person's final income tax returns, along with a tax return for the preceding year if it has not been filed. The representative may also be required to file......[Read More]
List of IRS Deductions

List of IRS Deductions

Deductions take the sting out of paying taxes.tax forms image by Chad McDermott from Fotolia.comTax deductions reduce your tax bill when April 15th rolls around. The Internal Revenue Service (IRS) allows you to itemize deductions by filing Schedule A Form 1040 with your federal taxes (see.........[Read More]
Mortgage Deduction Rules

Mortgage Deduction Rules

Mortgage interest is deductible for most Americans on their federal income taxes.TAX TIME image by brelsbil from Fotolia.comHome mortgage interest is one of the few interest deductions available for taxpayers in 2010. There are rules regarding when mortgage interest is deductible..........[Read More]
Can You E-file After April 15?

Can You E-file After April 15?

E-filing is a quick and easy way to file your taxes with the IRS and can be done from home, using only your financial records and your personal computer. According to OLT Online Taxes, an e-file can be completed in as little as 20 minutes.......[Read More]
Free Help Preparing Federal & State Income Tax Papers

Free Help Preparing Federal & State Income Tax Papers

Tax time is stressful for many people and can present special challenges for low income individuals, senior citizens or members of the military. Organizations exist that provide free assistance with preparing and filing returns for these groups.......[Read More]
What Is Form 1099-B?

What Is Form 1099-B?

Form 1099-B is a tax form produced in triplicate entitled "Proceeds From Broker and Barter Exchange Transactions." One copy is submitted to the IRS, one copy is sent to the taxpayer and the last copy is kept by the involved brokerage or financial entity. If you perform any transactions involving sec......[Read More]
Pennsylvania Employer Requirements for the Payment of Wages to Survivors of a Deceased Employee

Pennsylvania Employer Requirements for the Payment of Wages to Survivors of a Deceased Employee

Pennsylvania law sets down the procedures for survivors to claim any unpaid wages due to a deceased person.check in macro image by Alexey Klementiev from Fotolia.comPennsylvania law describes the processes for survivors to claim any unpaid wages owed to a deceased employee.. If you are.........[Read More]
Federal Tax Relief Act

Federal Tax Relief Act

In 1997, President Bill Clinton enacted the Taxpayer Relief Act of 1997. The purpose was to reduce taxes and to reduce federal deficit spending. In 2009, President Barack Obama enacted the American Recovery & Reinvestment Act of 2009, with essentially the same goals.......[Read More]
How to Calculate Itemized Deductions

How to Calculate Itemized Deductions

When filing your income taxes each year, you may take the standard deduction or an itemized deduction amount on your Form 1040. Depending in your expenses, it may be more beneficial to calculate the itemized deductions and use this number instead of the standard set by the Internal Revenue Service.......[Read More]
States That Are Sales Tax Exempt for Canadians

States That Are Sales Tax Exempt for Canadians

Paying taxes is never fun.money, money, money image by easaab from Fotolia.comWith Canada's general tax on goods and services (GST) of 7 percent---a tax that must be paid on items purchased outside of Canada and then brought into the country---it is only natural for Canadians shopping in.........[Read More]
Illinois State & Local Income Tax Information

Illinois State & Local Income Tax Information

Illinois is one of 46 states that impose a state tax on the income earned by its residents and businesses. The state income tax is based on the income reported on federal tax returns, subject to certain state-specific adjustments. The income tax is Illinois's single largest tax revenue source. In 20......[Read More]