IRS Tax Support

Yes, it’s November. The holidays are nearly here. And my gift to readers is a gentle reminder to make those last-minute tax moves.
I say this every year: Your tax planning for your 2008 return should have started last December. Still, there are things you can and should do before Dec. 31 to trim your 2008 [...]

The Internal Revenue Service significantly relaxed the rules governing how U.S. corporations can repatriate cash parked overseas, in yet another government move to ease the credit crisis.
The ruling, issued late Friday, allows companies to bring back money for months at a time without incurring the 35% corporate income tax they normally would owe.

The move could [...]

Another April 15 has come and gone, and millions of taxpayers still haven’t filed their tax returns.
About 10.3 million Americans were expected to file for automatic six-month extensions this year, up from 10 million last year, according to Internal Revenue Service estimates earlier this year. But some people didn’t even bother getting an extension.
Whatever the [...]

The Internal Revenue Service today announced an increase in the optional standard mileage rates for the final six months of 2008. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
The rate will increase to 58.5 cents a mile for all business [...]

Plummeting stock prices can cast a dark cloud over anyone’s finances. However, at tax time, these capital losses can produce a ray of write-off sunshine.

When you sell any pharmaceutical flops or biotech blunders, you can use them to offset gains from more successful ventures — or even a portion of your everyday income.
A capital [...]

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. The Internal Revenue Service started making the direct deposits on Monday with the goal of completing 800,000 payments each day over the first three days [...]

Most people hate filling out tax forms almost as much as they hate forking over dough to Uncle Sam. In this tax tip:

Form 1040EZ
Form 1040A
Form 1040

That’s why you should use the simplest tax return you can, especially if you’re still filling out your forms by hand.
But choose carefully. While all the personal income tax forms [...]

What’s the best tax break available to Jane and John Q. Public? If they’re homeowners, it’s selling their house.
Homeowners already know the many tax breaks that Uncle Sam offers, most notably mortgage interest and property tax deductions. Well, he also has good tax news for home sellers: Most of them won’t owe the Internal [...]

There’s nothing quite like purchasing your first home. You’re on your own. You have a substantial financial investment. And you now have some different tax considerations.
You’re probably well-aware that homeownership affords you several new ways to save on the annual Internal Revenue Service bill.
“Homeownership is one of the best tax benefits that the federal government [...]

Tax attorney Roni Deutch launched her blog www.RonisBlog.com in November 2006, where she posts daily blog entries on both tax topics and other topics of interest including baseball, surfing, and Hawaii. In her first featured blog entry Roni addresses a new proposal included in the President’s 2008 budget as a way to reduce the gap [...]