Tax Responsibilities After Someone Dies The death of a loved one is always difficult but it can be even more challenging if you are the one who must handle all the resulting tax responsibilities. There are a couple different ways you can assume the required duties: You may be named as [...]
source: IRS.gov NOTE: This headliner is current through the publication date. Since changes may have occurred, no guarantees are made concerning the technical accuracy after the publication date. Headliner Volume 299 June 22, 2010 The IRS reminds taxpayers that interest deductions on home mortgages are limited, including limitations for home [...]
Source: S S A / I R S R e p o r t e r, s u m m e r 2 0 1 0, Page 6 Plug-In Electric Vehicle Credit Internal Revenue Code Sections 30 & 30D provide credits for certain Plug-in Electric Vehicles. Qualified vehicles may include [...]
Source: S S A / I R S R e p o r t e r, s u m m e r 2 0 1 0, Page 4 The Alternative Fuel Motor Vehicle Credit was enacted by the Energy P olicy Act of 2005 and includes separate credits for four [...]
According to the IRS IR-2010-080: WASHINGTON — Eligible taxpayers who contracted to buy a home, qualifying for the first-time homebuyer credit, before the end of April now have until Sept. 30, 2010 to close the deal, according to the Internal Revenue Service. The Homebuyer Assistance and Improvement Act of 2010, [...]
According to the The Florida Senate BILL ANALYSIS AND FISCAL IMPACT STATEMENT Link to Source: http://www.flsenate.gov/data/session/2010/Senate/bills/analysis/pdf/2010s2454.cm.pdf The state sales and use tax on aircraft and boats in Florida is levied at a rate 6% of the purchase price or value of the aircraft or boat. The bill provides that the [...]
Source: IRS The Affordable Care Act was enacted on March 23, 2010. It contains some tax provisions that take effect this year and more that will be implemented during the next several years. The following is a list of provisions now in effect; additional information will be added to this [...]
Topic 431 - Canceled Debt – Is it Taxable or Not? In general, if a debt for which you are personally liable is canceled or forgiven, other than as a gift or bequest, you may have to include the canceled amount in gross income. Depending on the circumstances by which [...]
The IRS published a 30 page guide to dealing with Bankruptcy. Click the following link to view the PDF document. http://www.irs.gov/individuals/article/0,,id=96196,00.html See Page 3 - Individuals Consult an Attorney for specific Bankruptcy Advice.
IRS Withholding Calculator If you are an employee, the Withholding Calculator can help you determine whether you need to give your employer a new Form W-4, Employee's Withholding Allowance Certificate to avoid having too much or too little Federal income tax withheld from your pay. You can use your results from the calculator [...]
