IRS Tax Support

It’s hard to beat the thrill of a windfall. So far this year, more than 50 million of us have felt the rush, courtesy of the IRS. As of late March, Uncle Sam had mailed nearly $128 billion to taxpayers, which amounts to an average refund of $2,548 (not including rebate checks, which won’t begin […]

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The government began depositing tax rebate checks in thousands of bank accounts on Monday as the stimulus program aimed at giving the ailing economy a jump-start got under way early.
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The Internal Revenue Service started making the direct deposits on Monday with the goal of completing 800,000 payments each day […]

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Although the alternative minimum tax (AMT) was intended to apply to high-income taxpayers who take advantage of loopholes (called “tax preferences” in professional lingo), it can also apply to middle-income taxpayers who haven’t planned their taxes thoroughly enough. In fact, the AMT is hitting more and more taxpayers each year, and without annual patches, it […]

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Senate Democrats Mull Adding Retirees to Rebate Plan, Extending Jobless Benefits
Retirees living off Social Security are frustrated that they won’t get tax rebate checks through a bipartisan economic stimulus package before the House. Senate Democrats Friday began efforts to include them.

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The Senate is also considering an extension of jobless benefits […]

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Dear Bankruptcy Adviser,
How much of an Internal Revenue Service past debt can or will be cleared when declaring Chapter 7 bankruptcy?
– Joe Dear Joe,
It is possible to eliminate all delinquent taxes in a Chapter 7 bankruptcy. In general, there is a multiple-step test to determine whether tax debt can be eliminated. First, you should order […]

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