Blogs

The IRS is providing tax relief to taxpayers who have been affected by Hurricane Sandy. The IRS has been providing tax relief to victims of hurricanes and other natural calamities over the years. This time, it has extended the time to file taxes to Feb 1, 2013 for those who fall under the Presidential Disaster... Continue reading →

Tax increase in social security, obamacare, medicare and income tax in 2013 may spell trouble for the economy that is slowly recovering, analysts believe. Even if taxes on the rich are increased, it may lead to an increase in unemployment. Although it does not sound plausible, the logic behind it is simple. If the rich... Continue reading →

An increase in income tax, obamacare taxes, medicare taxes and social security taxes starting from Jan 1, 2013 can push the country off the fiscal cliff. Along with additional taxes, $120 billion federal government spending cuts are mandated for 2013. Some fear that this may cruise the country into recession. Additional taxes will mean less... Continue reading →

With the season hot in politics, the issue of taxes may have taken a backseat. But when the issue is paying more taxes arises, discussion becomes essential, and needless to say, highly volatile. Bad news is that payroll tax cut is coming to an end this year. Beginning 2013, workers will need to pay more... Continue reading →

Payroll tax cut that had been giving a breather to as many as 163 million workers in 2011 and 2012 will expire this year. This bad news is not being brought up or discussed by the politicos because neither party looks to extend the payroll tax cut. The payroll tax cut is being financed with... Continue reading →

In a new plan proposed by the IRS, U.S. citizens living aboard will be able to easily settle their earlier tax non-compliance. According to IRS Commissioner Doug Shulman, “Today we are announcing a series of common-sense steps to help U.S. citizens abroad get current with their tax obligations and resolve pension issues.” The new procedure... Continue reading →

The IRS has announced its new plan for U.S. citizens residing overseas where they can get current with their tax filing. Those taxpayers who haven’t been able to pay taxes in the past may find it easier to get back into the good books of the IRS. The new procedure will help taxpayers who have... Continue reading →

Small businesses can gain a lot of benefits from tax credits. There are many credits that the government has introduced for taxpayers who run small businesses. According to the number of staff, type of business and other particulars of your business, you can choose the credits you can use when filing your tax returns this... Continue reading →

Tax time is when tax frauds become most active. Tax time scams reach the peak when most taxpayers file their tax returns. With many taxpayers expecting refunds, scammers use the façade of the IRS or a reputed agency to extract sensitive financial and personal information from taxpayers which they use to claim inflated refunds by... Continue reading →

The economy has shown steady growth. This April, the U.S. treasury received a surplus of $113 billion, which will contribute to decreasing the deficit for 2012. Though it is said that the surplus is majorly due to many short-term factors, it is good news for the economy nevertheless. The Obama administration has been struggling to... Continue reading →