If you like to wait until the last minute to file your tax return, you are in for some good news. This year you will have an extra three days to procrastinate. The IRS has made it official that taxpayers do not have to prepare and file their tax returns for 2010 until April 18th. The reason for...

The taxation on Social Security benefits depends primarily on your modified adjusted gross income (MAGI). Social Security benefits are considered to be a form of income. Much like any other form of income, Social Security income is also subject to federal and state income tax. Up to 85% of Social Security...

The Taxpayer Advocate service is an independent organization within the IRS which duties include resolving tax problems, and making sure they don’t happen in the future. Yesterday, the Taxpayer Advocate Service released an annual report with many administrative and legislative recommendations. IRS...

The option to use an IRS Installment Agreement helps many people pay taxes they owe when they don’t have enough cash available to pay the owed taxes all at once.  There are many disadvantages and advantages to using an installment agreement to pay the IRS. How an IRS Payment Plan Works An IRS...

Val Kilmer, star of Willow, Top Gun, and Batman, is being investigated by the IRS for delinquent taxes. Kilmer, who owes the IRS some $530,000 in federal taxes, has a 6,000 acre ranch in New Mexico for sale, with the asking price a mere $18.5 million. The tax lien was filed in November by the county...

Health care reform, despite the term, includes more than just a reform in how health care is managed in the United States. Health care reform includes new taxes, increases to existing taxes, expands IRS authority, and tax breaks for businesses and individuals who qualify. The health care reform...