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Tax and Tax Information * When To File A Tax Return
Do You Know When To File A Tax Return?
Ken Snowie
Every year, millions of Americans dread the inevitable; they have to gather all of their receipts and records and get ready to file their Federal Income Tax Returns. When was tax season first initiated? Here, we will take a look at that magic day of April 15 and why it was chosen as tax day.
During Abraham Lincoln's presidency in the 1860's, were first legally required to pay income taxes. The President and Congress created the Commissioner of Revenue and enacted a Federal Income Tax law in order to fund the costly Civil War.
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How To Master Capital Gains Tax (Sydney Morning Herald)
The law relating to small business capital gains tax concessions is complicated. The amount and tax benefit of concessions differs depending on what structure owns the business.
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The original deadline for submitting your income taxes was March 1, not April 15. It was in 1918 when the Congress pushed the date out to March 15. Then in 1954, the date was once again moved, this time to April 15, the date we still know as tax day.
If you are an individual taxpayer, you are required to file either a return or an extension (Form 4868) by April 15. Corporate and other legal group entities must file their tax return or an extension by March 15. The extension merely gives you extra time to file your tax return, not extra time to pay if you owe.
For some years after World War 2, the tax burden was shared relatively equally by the corporate world and the individual taxpayer. Today, the shift seems to be toward the individual carrying the load of the tax burden.
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Tax-preparation Software From TurboTax And H&R Block Have Drawbacks, Benefits (Washington Post)
Tax-preparation programs are an unnecessary evil.
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An interesting event that occurred during formation of income taxation laws in America occurred during 1918. Up until then, a lot of revenue for government funding came from alcoholic beverage sales.
Then came Prohibition. In 1919, Congress passed an amendment to the Constitution that made it illegal to manufacture or sell alcohol. In order to replace that lost revenue, income tax was the proposed solution, and despite the repeal of Prohibition, we've been paying income taxes ever since.
When the Revenue Act of 1942 was passed and the "New Deal" era was begun, government control and expenditures has continued to increase exponentially, and today the American taxpayer supports a multi-trillion dollar National Debt.
Currently, all the tax regulations for this country are under the management of the Internal Revenue Service, in which there are four major division: Wage and Investment, Small/Business Self-Employed, Large and Midsize Business, and Tax Exempt and Government. Each division governs the taxpayers and the laws as they are relevant to their particular department.
Discover more about tax and tax returns by visiting http://www.discover-tax.info
What Other Authors say about Taxes
How Will You Spend Your Tax Refund?
by Carl LaFresnaye
Taxes – everybody hates them. The government takes from your paycheck every weekIt can be frustrating to see how much they get right off the top. Some of that youll never see again, but your federal and...
Tax Accounting
by Sumit Sehghal
Accounting is the recording, interpretation and reporting of financial transactions. Each and every business must keep proper record of all such transactions. There are several branches of accounting such...
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...
Where Can You Get Answers To Your Tax Questions?
by Carl LaFresnaye
Taxes are an unfortunate part of our lives. But our tax money finances so many parts of our government, taxes are here to stay. It would be nice if taxes were cut and dried, easy to understand and easy...
Delinquent Taxes - What Happens if I Don't Pay the IRS?
by Neil Lemons
Depending on how much time has past, an individual will see hundreds; even of thousands of dollars owed in back taxes that were not originally assessed when first receiving a letter from IRS. Similar to...
Use Child Tax Credit for Tax Savings
by Keith Hoyng
Now, here's a real tax savings to the individual taxpayer with dependents. The child tax credit is a direct federal income tax credit based on the number of dependent children in your family. This federal...
Gambling Income and Expenses - Taxes
by Richard A. Chapo
Hit a big one? With more and more gambling establishments, keep in mind the IRS requires people to report all gambling winnings as income on their tax return.Gambling income includes, but is not limited...
Health Savings Accounts and Taxes
by Kurt Stammberger
HSAs have a "triple" tax advantage from a federal tax standpoint. Individuals receive full tax advantages for HSAs on their Federal Income Tax return (or through a salary reduction program in certain employer-sponsored...
Tax Treatment for Coverdale IRAs
by Tony Novak
A number of publications, including my own, have mistakenly reported over the past year that Coverdale IRAs, formerly known as Education IRAs, are tax deductible. Coverdale IRAs are not tax-deductible.Originally...
YEAR END TAX PLANNING AND PREPARATION FOR INDIVIDUALS - Tax Tips for 2004 including new tax relief due to the Working Families Tax Relief Act of 2004
by Dianne Goodman, CPA
Now is the best time to start thinking about your year end tax planning. These tax strategies can be put into effect by the end of the year and some as late as when the tax return is due. Planning now...
A Guide To Tax Forms
by 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...
Income Tax Help
by LeeAnna
There are many websites on the Internet today that gives much needed income tax help for those who have no idea of what's going on during tax time. Income tax is a tax paid on income, unfortunately no...
A Partial List Of Tax Deductibles
by Carl LaFresnaye
The list of tax deductibles allowed by the IRS is so long and complicated that nobody seems to know exactly how many there are. Even Jeff A Schnepper's book How To Pay Zero Taxes, which is actually subtitled...
Understanding Basic Tax Terms
by Ryan Fyfe
If your like many, you don't always understand what people are talking about when it comes to Taxes. It's important to know the main tax terminology, especially when tax season comes around. Knowing the...
Who are the CPA Moms? Your Tax Professional Forever!!!!
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“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.
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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.
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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.
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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.
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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.
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For reliability and dependability of Tax Net, Inc, the parent company of the “Moms” organization click on the Better Business Bureau (BBB) icon. To Join CPA Moms
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Index of Articles about Taxes
What Other Authors say about Taxes
How Will You Spend Your Tax Refund?
by Carl LaFresnaye
Taxes – everybody hates them. The government takes from your paycheck every weekIt can be frustrating to see how much they get right off the top. Some of that youll never see again, but your federal and...
Tax Accounting
by Sumit Sehghal
Accounting is the recording, interpretation and reporting of financial transactions. Each and every business must keep proper record of all such transactions. There are several branches of accounting such...
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...
Where Can You Get Answers To Your Tax Questions?
by Carl LaFresnaye
Taxes are an unfortunate part of our lives. But our tax money finances so many parts of our government, taxes are here to stay. It would be nice if taxes were cut and dried, easy to understand and easy...
Delinquent Taxes - What Happens if I Don't Pay the IRS?
by Neil Lemons
Depending on how much time has past, an individual will see hundreds; even of thousands of dollars owed in back taxes that were not originally assessed when first receiving a letter from IRS. Similar to...
Use Child Tax Credit for Tax Savings
by Keith Hoyng
Now, here's a real tax savings to the individual taxpayer with dependents. The child tax credit is a direct federal income tax credit based on the number of dependent children in your family. This federal...
Gambling Income and Expenses - Taxes
by Richard A. Chapo
Hit a big one? With more and more gambling establishments, keep in mind the IRS requires people to report all gambling winnings as income on their tax return.Gambling income includes, but is not limited...
Health Savings Accounts and Taxes
by Kurt Stammberger
HSAs have a "triple" tax advantage from a federal tax standpoint. Individuals receive full tax advantages for HSAs on their Federal Income Tax return (or through a salary reduction program in certain employer-sponsored...
Tax Treatment for Coverdale IRAs
by Tony Novak
A number of publications, including my own, have mistakenly reported over the past year that Coverdale IRAs, formerly known as Education IRAs, are tax deductible. Coverdale IRAs are not tax-deductible.Originally...
YEAR END TAX PLANNING AND PREPARATION FOR INDIVIDUALS - Tax Tips for 2004 including new tax relief due to the Working Families Tax Relief Act of 2004
by Dianne Goodman, CPA
Now is the best time to start thinking about your year end tax planning. These tax strategies can be put into effect by the end of the year and some as late as when the tax return is due. Planning now...
A Guide To Tax Forms
by 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...
Income Tax Help
by LeeAnna
There are many websites on the Internet today that gives much needed income tax help for those who have no idea of what's going on during tax time. Income tax is a tax paid on income, unfortunately no...
A Partial List Of Tax Deductibles
by Carl LaFresnaye
The list of tax deductibles allowed by the IRS is so long and complicated that nobody seems to know exactly how many there are. Even Jeff A Schnepper's book How To Pay Zero Taxes, which is actually subtitled...
Understanding Basic Tax Terms
by Ryan Fyfe
If your like many, you don't always understand what people are talking about when it comes to Taxes. It's important to know the main tax terminology, especially when tax season comes around. Knowing the...
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