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Tax and Tax Information - Tax Forms

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Tax and Tax Information * Tax Forms

A Guide To Tax Forms   
Carl LaFresnaye

Looking at the Internal Revenue Service's website (www.irs.gov) can be a bewildering experience.

A vast array of tax forms greets you and figuring out which ones to use can be a chore. This guide is designed to help take some of the mystery out of it.

Article to continue below----------------------------------------------

Let Bush Tax Cuts End, Economists Say (Fox News)
NABE economist said Congress should let the Bush tax cuts expire.

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Which Tax Form Should I Use?

There are three main tax forms used to file your return: 1040, 1040A and 1040EZ.

Article to continue below----------------------------------------------

N.Y.âs Paterson Shuns Wall Street Stock Transfer Tax (Update2) (BusinessWeek)
New York Governor David Paterson, facing at least a $9 billion budget deficit, rejected a call for a stock transfer tax on Wall Street.
U.S. Sales Tax Rates Hit Record High (Forbes)
Shopping blues: Top tax 12%. Chicago's 10.25% highest big-city rate. More Internet tax fights loom.

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1040EZ is the easiest form to fill in. You can only use it if all the following conditions apply. You need to be single or married filing jointly, with no dependents and a total taxable income of less than $100,000. You and your spouse need to have been born after January 1, 1943 and neither of you can be legally blind. Your only income sources should be an employer (wages, tips and salaries), scholarships or the government (unemployment or the Alaska Permanent Fund). Taxable interest of $1500 or less is also allowed. You should not have received any adjustments to income such as advance Earned Income Credit, deductions for IRA funds or student loan interest in the tax year being covered. And you should not owe any tax on payments made to household staff.

If you do not qualify for form 1040EZ, there is an intermediate form to fill out, form 1040A. Many of the conditions are the same, but some adjustments to income and tax credits are allowed (see the IRS website for details). You must not itemize your deductions. If these conditions do not apply, then you must fill out the full form 1040.

Additional Tax Forms

There are numerous other tax forms in addition to the basic 1040 forms. Schedules A and B cover itemized deductions, with another dozen or so schedules covering different tax credits. In addition, there are all sorts of forms for business owners, fiduciary trusts and any other sort of taxable income you could name. To list them all in detail would take a book, and indeed, several good books are available on the subject. Some popular titles include Taxes For Dummies, J K Lasser's Your Income Tax and the Ernst and Young Tax Guide. These are all published annually in order to keep up to date with changes to the tax code.

Where to File Your Tax Forms

The IRS has regional offices in Atlanta, Dallas, New York City and San Francisco. For Americans living overseas, it also has international offices in Frankfurt, London, Paris and Puerto Rico. Or you can file online for a speedier refund.

What Other Authors say about Taxes

How Wealth Tax Is Better Than Income Tax by Jim Thio

Wealth TaxDo you want to move money from the wealthy to the poor? Well, tax wealth.Wealth tax causes far less market distortion, and hence, much fairer than income tax. Wealth tax hurt productivity less....

Mortgage Tax Relief- Free Important Hint For Taxes by deepak kulkarni

<p>Most of those benefiting from tax relief are low income individuals and families, usually in the form of full or partial tax exemptions. Some middle income families and people can receive tax...

OMG-More Discussion About The Home-Based Business by Ron Piner, CPA

"Oh My God", cries out my fifteen year old daughter. "Oh My God Is Right", replies her brilliant and handsome father. This is an example of two people saying the very same thing, but for entirely different...

Deciding when to File a Tax Return? by Keith Hoyng

April 15th - "The Day of Reckoning"! Every year, millions of Americans get ready to pay taxes to Uncle Sam, or get ready to collect a tax refund from Uncle Sam; when did this become the great day that...

Does IRS have a Refund or Stimulus Check for you by

The Internal Revenue Service is trying to find 279,000 recipients for more than $163 million in undelivered economic stimulus payments, according to the government. The average undelivered check is worth...

Minister's Housing Allowance by Alan D Campbell

Churches often provide ministers of the gospel with the free use of a home, which is often called a parsonage. The value of the parsonage is not subject to income tax up to the rental value of the home....


Who are the CPA Moms?      Your Tax Professional Forever!!!!

“CPA Moms - Tax Moms - EA Moms" are trade names given to Accounting and Tax Professionals who chose to work in an “relaxed” environment. Some "Moms" work from home, other work from personal offices. Not all are Moms, there are some Dads. We call them Mr. Tax Moms. CPA Dads or Enrolled Agents Dads.
Each Mom is independent. Once a client starts working with a Mom, the client will keep the same “Mom” year after year regardless of where the client moves or relocates. Being in a “relaxed” environment has many advantages. Lower overhead, faster response time, more availability, etc.
To be a member a CPA Mom, Tax Moms, or an Erolled Moms the Tax Professional must ALWAYS be in good standing with their state licensing agency, experienced, and must demonstrate a high level of ethics, professionalism and proficiency.
Tax Net Inc, the parent company for all CPA Moms, Tax Moms and Enrolled Moms, developed the marketing and on-line systems to help qualified Tax Professionals who "choose" work from their “relaxed” environment and offer better service at a lower price to the consumer.
Since the “Moms” do taxes and accounting of all complexities, there is always a Mom available for every level of work. Since each Mom has a private 800 number, you are just a phone call away, regardless of where you live.
For reliability and dependability of Tax Net, Inc, the parent company of the “Moms” organization click on the Better Business Bureau (BBB) icon.

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Index of Articles about Taxes

What Other Authors say about Taxes

How Wealth Tax Is Better Than Income Tax by Jim Thio

Wealth TaxDo you want to move money from the wealthy to the poor? Well, tax wealth.Wealth tax causes far less market distortion, and hence, much fairer than income tax. Wealth tax hurt productivity less....

Mortgage Tax Relief- Free Important Hint For Taxes by deepak kulkarni

<p>Most of those benefiting from tax relief are low income individuals and families, usually in the form of full or partial tax exemptions. Some middle income families and people can receive tax...

OMG-More Discussion About The Home-Based Business by Ron Piner, CPA

"Oh My God", cries out my fifteen year old daughter. "Oh My God Is Right", replies her brilliant and handsome father. This is an example of two people saying the very same thing, but for entirely different...

Deciding when to File a Tax Return? by Keith Hoyng

April 15th - "The Day of Reckoning"! Every year, millions of Americans get ready to pay taxes to Uncle Sam, or get ready to collect a tax refund from Uncle Sam; when did this become the great day that...

Does IRS have a Refund or Stimulus Check for you by

The Internal Revenue Service is trying to find 279,000 recipients for more than $163 million in undelivered economic stimulus payments, according to the government. The average undelivered check is worth...

Minister's Housing Allowance by Alan D Campbell

Churches often provide ministers of the gospel with the free use of a home, which is often called a parsonage. The value of the parsonage is not subject to income tax up to the rental value of the home....