Estate-tax Vote Delayed

The estate-tax vote has been delayed until after the weeklong 4th of July recess.

IRS Tax Problems

The IRS, or Internal Revenue Service, is a tax collection and enforcement body that is part of the US Department of the Treasury. The primary duty of the agency is to ensure that people pay their taxes punctually and honestly. This is not an easy task because the agency has to deal with the usual tax evaders. Though there are harsh fines in store for the tax evaders, there are cases when honest taxpayers are forced to pay penalties for no fault of theirs.

Little-Known Tax Deductions from a Voluntary Employee Benefit Association

If you are a profitable business owner and you want a large tax deduction, there is a defined-benefit plan known as a voluntary-employee benefit association (VEBA) that can substantially reduce taxes and accomplish other business planning goals. A VEBA, if done properly, not only allows deductible contributions, but money can come out of the plan tax-free for health and welfare expenses.

Major Changes to IRS Tax Settlement Rules

In recent years, the IRS has made a concerted effort to get people back into good status by reaching deals on overdue taxes. The rules affecting this program have just changed dramatically.

Offer In Compromise Help

An offer in compromise is basically an agreement between the Internal Revenue Service (IRS) and a taxpayer to reach a settlement on tax debts. Applying for an offer in compromise is often a lengthy and complicated process. It can take anywhere between a year and two for arriving at a successful resolution on the application. Moreover, only about 16% of the applications are actually accepted by IRS. Offer in compromise help is readily available from a variety of sources ranging from tax lawyers to books and Web sites. Owing to the complexity involved in the filing process, a person seeking offer in compromise help should look for a qualified professional with extensive experience.

Donating A Car – What IRS Want You To Know

When donating your car to your favorite charity, the Internal Revenue Service (IRS) wants you to be aware of certain pitfalls. After Dec. 31, 2004, taxpayers planning their charitable giving, donors should understand the way that the American Jobs Creation Act of 2004 will alter the rules for the contribution of used motor vehicles, boats and planes.

Internet Banking Could Help With Your Tax Retuns

One of the most useful things about Internet banking is that once you have your account information on your computer, you can export it into financial programs such as Microsoft Money and Quicken, to better manage your various household accounts

Senators Urge for Tax Loophole Block

Senate Finance Committee Chairman Charles Grassley (R-Iowa) and the committee's ranking Democrat, Montana's Max Baucus, urged President Bush to help close a tax loophole involving the charity tax code.

A Pain-Free Tax Season: Organization Tips For Small Businesses

Paying taxes might be painful, but preparing for tax season doesn't have to be! Learn how to get your small business finances organized and ready for this year's tax filing, and put away the aspirin!

IRS Makes Life Easier For People That Can't Pay Their Taxes

Most people go into panic mode when they realize they don’t have enough money to pay the taxes they owe. The IRS offers fairly painless solutions and is making them easier to access.

New Jersey's Tax Exempt Property

Today, the property tax exemption battle continues. Should your church be able to build a large building to lease to a For Profit Day Care Center and with the rent money pay off the building's mortgage? Does a private school need a golf course for golfers who are not students when school is out so as to defray the expense of the golf course? These are the questions that local tax assessors, the courts and the government in Trenton struggles with daily.

US Senate Passes Pension Legislation

A major overhaul of US pension legislation passed the Senate last week and has been sent to the President for final approval.

Recommendations Of New Jersey's 1997 Property Tax Commission

Recommendations of the Governor's 1997 Property Tax Commission that through August 2, 2001 have been enacted by law or by regulation and those which have had just bills introduced. Governor Whitman asked the Property Tax Commission she created in 1997 to study the property tax problem in New Jersey and offer recommendations that would help county, school, and municipal officials ease the burden of property taxes on New Jersey residents. The 60 specific recommendations of the Commission are listed in summary form below. Following the specific recommendation is a citation to the law, regulation or bill that followed or a statement that (No law, regulation or bill has been forthcoming). It appears that after the 60 recommendations of the Governor's Property Tax Commission were issued in September of 1998, 11 recommendations had one or more bills introduced to implement them, 6 recommendations were implemented by Executive Order No. 88, and one recommendation was implemented by a constitutional amendment.

A Car Donation Is A Great Way to Reduce Your Taxes

Gain a large tax reduction using a tax deductible car donation