by Arthur Geffen | Mar 27, 2012 | Income Tax
Past due financial obligations can affect your current federal tax refund. The Department of Treasury’s Financial Management Service, which issues IRS tax refunds, can use part or all of your federal tax refund to satisfy certain unpaid debts. Here are eight...
by Arthur Geffen | Mar 27, 2012 | Charitable Gifts, Income Tax
Donations made to qualified organizations may help reduce the amount of tax you pay. The IRS has eight essential tips to help ensure your contributions pay off on your tax return. 1. If your goal is a legitimate tax deduction, then you must be giving to a qualified...
by Arthur Geffen | Mar 22, 2012 | Income Tax
In 1943, the Treasury Department turned to the Donald — in technicolor! — to help communicate the importance of the income tax to the American people, most of whom had never paid income tax before (only the wealthy paid income taxes pre-World War...
by Arthur Geffen | Mar 14, 2012 | Income Tax
The tax is not levied upon the value of the original basis price of the home, nor is it levied against the current tax-free gains that most home sellers of personal residences qualify for: $250,000 of tax-free gain for single tax filers, and $500,000 for...
by Arthur Geffen | Mar 12, 2012 | Income Tax
The tax code has gotten so complicated that even smart people make big mistakes about filing taxes, according to the National Association of Enrolled Agents. Here’s a list of taxpayers’ common misconceptions gathered by enrolled agents across the country....
