Blogs

The 2015 tax season is just a couple of months away.  Though you have months to file your 2014 taxes, it is advisable to do so early. Filing your return in the beginning of the tax season helps to avoid fraud and scam attempts, such as identity theft.  Also, filing early helps you get your... Continue reading →

According to a 2013 Census Bureau data, “the majority of the retirement-age population had some source of household income besides earnings at their disposal. Only 11% of workers and 4% of non-workers reported no other source of income.” The net worth of a household income is a vital factor in the economic well-being of people... Continue reading →

Tax scammers continue to change their methods of operation. As taxpayers become familiar with their tactics, the methods of scamming evolve. The latest tax scam that the IRS has alerted taxpayers to is the ‘Update your IRS e-file’ scam. This is a phishing scam where the email appears to be from the IRS and has... Continue reading →

Blue Tax, who recently improved its position within Consumer Tax Reviews’ top 10 list, has been presented with the Best Customer Support Award for 2013 due to the company’s ongoing efforts to assist taxpayers with their tax debt more efficiently. Blue Tax has stayed within the top 5 of Consumer Tax Reviews’ top 5 list... Continue reading →

Taking a little time in planning your taxes can bring you a lot of benefits when the time comes to file your taxes. While planning taxes, consider using retirement funds, filing status, deductions and credits to lower your tax liability. If your income level and sources of income are predictable, then you may know which... Continue reading →

Taxpayers living overseas will now need to complete a great deal of tax related paperwork due to the reporting requirements under Foreign Account Tax Compliance Act (FATCA). Many people might even need to hire tax professionals to comply with the various reporting requirements. Some Americans that have been living in other countries for years are... Continue reading →

The U.S. Treasury loses billion of dollars to tax evasion annually. Many individuals, businesses, and organizations hide their income overseas to avoid paying taxes on it. Tax evasion by keeping assets hidden overseas is the most common method used by taxpayers. Tax frauds also use fake organizations to dupe taxpayers into hiding income in tax... Continue reading →

The April 15th deadline is a few hours away, but there is still time to file taxes or file for an extension to file. Remember that you must get an extension before the midnight of April 15th because after that the IRS will not accept the request. Filing for an extension is vital because without... Continue reading →

If you cannot file your tax return by April 15th, you can receive a six-month extension of time to file. More time to file must not be confused with more time to pay. By filing for an extension to file, you only get a six-month extension to file your tax return, not more time to... Continue reading →

If you have been paying taxes for years by either itemizing your deductions or using the standard deduction, you may want to calculate your taxes using both the methods. That is because with years, your financial conditions and other circumstances that affect your taxes change. It may be that you bought a property, got married,... Continue reading →