• Filing Your Taxes for 2016

    The beginning of the new year marks the time when business owners start accounting for their final total revenue made from sales and expenses incurred while running their business to know how much they have earned in profit. They can already start filing tax returns with the Internal Revenue...
  • Estimated Taxes: All the Info you Need

    Income tax is compulsory for anyone who makes an income from a job, self-employment, or other sources. The IRS’ ‘pay as you go’ system means that they expect to receive regular tax payments from you as your income is earned, not just at the end of the year when you file...
  • Owe Taxes? Here are Some Valuable Tips

    Owing taxes to the IRS can put you under a lot of stress, and make you feel quite like you’re drowning, especially if you are finding it hard to pay off your liability. However, you do not need to be get disheartened as you have rights. As a matter...
  • What you Need to Know about Withholding Taxes

    The Federal income tax works on a “pay-as-you-go” system that consists of two ways to pay as you go: withholding tax or estimated tax. Tax withholding forms the crux of this article. Income tax will most likely get held from your salary by your employer if you work at...
  • The Earned Income Tax Credit

    In 1975, the Earned Income Tax Credit (EITC or EIC) was introduced. The point of this tax credit was to help lower income families financially. It provides a subsidy to help with financial woes. There are eligibility requirements that must be met and an income tax return has to...
  • How to Pay your Federal Tax

    For you to know how much you owe in income tax for any given year, you have to prepare and file your tax return. Individual income tax can be filed and paid by the annual deadline of April 15th. Penalties and interest are charged at a rate of .5%...
  • Setting Up your IRS Payment Plan

    Payment arrangement options are offered by the IRS for those who owe more in taxes than they can afford to pay immediately. The IRS, will pretty much always issue penalties and charge interest on taxes paid late, regardless of the reason. There are some special circumstances, though these are...