The article presents an updated Tax Guide for Churches and Religious Organizations issued by the Internal Revenue Service (IRS) in the U.S. on August 20, 2008. The Guide contains many law summaries that are applicable to all public charities. It also poses law summaries concerning matters ...
For penalties stemming from personal income tax returns and payments, you’re eligible for first-time penalty abatement if you both: filed a return (if required) for the past three tax years before the tax year you received the penalty didn't have any other IRS penalties during the prior th...
"Tax & Current Accounting Topics" Tax Time Guide: IRS provides easy access to tax refund status with Where's My Refund? tool (Podcast Episode 2023) - Movies, TV, Celebs, and more...
Box 1: Shows your total taxable wages, tips, prizes, and other compensation for the year, minus certain elective deferrals, such as 401(k) plans, pretax benefits, and payroll deductions. The number from box 1, your income, is reported on line 7 of your Form 1040. Box 2: Reports the...
As the first payments for the renewed Superfund tax fall due, many companies are still waiting for the Internal Revenue Service (IRS) to provide guidance on several key issues, prompting some attorneys to say it would be "reasonable" to look to a 1983 draft IRS rule, even though the measur...
Tax penalties can be daunting, but they don't need to be confusing. Here's how you can minimize or avoid the most common penalties imposed by the IRS.
For more information to help you with your tax filing, check out the IRS website and our summarized “how to do your taxes” guide. If you’re ready to start filing your taxes – view our lists of thebest tax softwareandcheapest ways to efile. ...
Life is tough for lots of people. Unfortunately, that’s true even during, or because of, the holiday season. But caring people still exist. They donate dollars and, more importantly in many cases, their time to help those in need. That’s true in the tax world, too. It’s no secre...
To qualify for tax benefits, you must meet specific requirements, such as income limits, filing status, and dependent status. Be sure to stay abreast of any tax benefits you may be eligible for so you don’t miss out on tax savings. ...