Earned Income Tax Credit (EITC) Information

How to Pay Zero Taxes by Jeff A. Schnepper

Fully updated to include all the latest tax law changes, How to Pay Zero Taxes outlines the easiest, most practical strategies you can use to lower your taxes this year, next year, and beyond. From converting personal expenses into business expenses to avoiding or surviving an IRS audit, Jeff Schnepper's guide comprehensively covers more deductions than any other tax book, all conveniently organized in six fast-access categories: exclusions, credits, “above-the-line” deductions, “below-the-line” deductions, traditional tax shelters, and supertax shelters.

Jeff A. Schnepper is the author of several books on finance and taxation, including How to Pay Zero Estate Taxes and all twenty-four previous editions of How to Pay Zero Taxes. He is a financial, tax, and legal advisor to the Transamerica sales force and runs a full-time accounting and legal practice in Cherry Hill, New Jersey. Mr. Schnepper is Microsoft's MSN MONEY tax expert, an economics editor for USA Today and is tax counsel for Haran, Watson & Company.

     

Earned Income Tax Credit (EITC) Information - Late Filing Of Federal Taxes

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Earned Income Tax Credit (EITC) Information * Late Filing Of Federal Taxes

All About Late Filing Of Federal Taxes   
Carl LaFresnaye

The IRS allows for late filing of federal taxes provided the appropriate paperwork is filled out (there's always paperwork!).

This simple guide shows you how to go about it.

Article to continue below----------------------------------------------

No Blowing Smoke: Group Discusses SC Cigarette Tax (AP Via Yahoo! Finance)
Doctors and an anti-smoking group discuss efforts to raise South Carolina's 7-cent-a-pack cigarette tax that is the lowest in the nation.

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Forms for Late Filing of Federal Taxes

The form to apply for an automatic extension of the deadline for filing federal taxes is IRS form number 4868. It is a very simple form to fill out, consisting of just nine questions. The first three questions are merely personal details such as name, address and social security number. The last two are check boxes to mark off if you are a US citizen or resident living abroad or if you file form 1040NR or 1040NR-EZ, for nonresident aliens. The remaining four questions are: the estimate of the total tax liability for the year; the estimate of the total tax payments for the year; the balance remaining when you subtract the latter from the former and the amount you intend to pay. If you cannot afford to pay the entire balance, pay as much of it as you can. You can pay online using a credit card. If you choose to do this, you will get a confirmation number by e-mail, which you will also need to enter on the form.

Article to continue below----------------------------------------------

Rally To Push For Hike To Georgia Cigarette Tax (AP Via Yahoo! Finance)
Anti-smoking advocates say they know a way to help fill Georgia's $1 billion budget shortfall: hike the tax on cigarettes by $1.

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Who Is Eligible for Late Filing of Federal Taxes?

To qualify for late filing of federal taxes, you need to be able to complete form 4868 accurately and submit it by the normal federal filing deadline. Generally, the IRS cannot extend the deadline for more than six months, but there are certain exceptions for Americans and their foreign spouses living abroad. In these cases, you can apply for an additional two months on top of the six month extension by writing a letter to the IRS Service Center in Austin, Texas explaining why you need these extra two months.

Penalties for Late Filing of Federal Taxes

Late filing of federal taxes can carry substantial penalties if you don't get permission from the IRS first. The penalty for filing late is 5 percent of the tax shown on the form per month; and for paying late, a half percent per month, both up to a maximum of a quarter of the total tax owed. However, the IRS recognizes that some people are forced to pay late due to personal circumstances beyond their control. If this applies to you, call 1-800-TAX-FORM (1-800-829-3676) or look in the phone book for the address of your local Taxpayer Assistance Center, to talk to an IRS official in person.

What Other Authors say about Taxes

YEAR END TAX PLANNING AND PREPARATION FOR INDIVIDUALS - Tax Tips for 2004 including new tax relief due to the Working Families Tax Relief Act of 2004 by Dianne Goodman, CPA

Now is the best time to start thinking about your year end tax planning. These tax strategies can be put into effect by the end of the year and some as late as when the tax return is due. Planning now...

How Can Sales Tax Save You Money? by Steve Dolan

It's that time of the year again... tax time! It may not be one of the more enjoyable times of the year, but it is definitely one of the more important dates on the calendar. Hopefully, you have listened...

Understanding Basic Tax Terms by Ryan Fyfe

If your like many, you don't always understand what people are talking about when it comes to Taxes. It's important to know the main tax terminology, especially when tax season comes around. Knowing the...

Tips For Preparing Your Taxes from the Internet by Cal Golden

When it comes to preparing our taxes, many of us could use some help. The following websites offer guidance and information that may assist you in learning about how to get the most out of filing your...

Tax Credit for Going Solar by Rick Chapo

As we sit in the middle of winter, most people can't believe how high their utility bills are. Going with solar energy can lower your bills and you get a hefty tax creditSolar Tax CreditSolar energy is...

Tax Invoice by Max Plata

A tax invoice is a legal document that offers a look at what the GST is for a transaction. Read on to learn about your obligations for issuing, holding, and supplying the different types of tax invoices.You...

Knowing The Benefits And Burdens Under Federal Income Tax Principles by Carl LaFresnaye

There are many different benefits and also burdens that individuals can have under federal income tax principals. It is important for individuals to consult some sort of professional advice when doing...

Last-Minute Tax Help by David C Skul

Even if in most cases people don't want to hear about the word "taxes" until March, preparing early and staying organized will give you no headaches later. But, for most of the people, the deadline is...

Utilizing Tax Tips by Carl LaFresnaye

Tax tips can be found from a variety of different sources, but individuals must be careful to determine whether those sources are professional and legitimate or if they are from average people who are...


Who are the CPA Moms?      Your Tax Professional Forever!!!!

“CPA Moms - Tax Moms - EA Moms" are trade names given to Accounting and Tax Professionals who chose to work in an “relaxed” environment. Some "Moms" work from home, other work from personal offices. Not all are Moms, there are some Dads. We call them Mr. Tax Moms. CPA Dads or Enrolled Agents Dads.
Each Mom is independent. Once a client starts working with a Mom, the client will keep the same “Mom” year after year regardless of where the client moves or relocates. Being in a “relaxed” environment has many advantages. Lower overhead, faster response time, more availability, etc.
To be a member a CPA Mom, Tax Moms, or an Erolled Moms the Tax Professional must ALWAYS be in good standing with their state licensing agency, experienced, and must demonstrate a high level of ethics, professionalism and proficiency.
Tax Net Inc, the parent company for all CPA Moms, Tax Moms and Enrolled Moms, developed the marketing and on-line systems to help qualified Tax Professionals who "choose" work from their “relaxed” environment and offer better service at a lower price to the consumer.
Since the “Moms” do taxes and accounting of all complexities, there is always a Mom available for every level of work. Since each Mom has a private 800 number, you are just a phone call away, regardless of where you live.
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Index of Articles about Taxes

What Other Authors say about Taxes

YEAR END TAX PLANNING AND PREPARATION FOR INDIVIDUALS - Tax Tips for 2004 including new tax relief due to the Working Families Tax Relief Act of 2004 by Dianne Goodman, CPA

Now is the best time to start thinking about your year end tax planning. These tax strategies can be put into effect by the end of the year and some as late as when the tax return is due. Planning now...

How Can Sales Tax Save You Money? by Steve Dolan

It's that time of the year again... tax time! It may not be one of the more enjoyable times of the year, but it is definitely one of the more important dates on the calendar. Hopefully, you have listened...

Understanding Basic Tax Terms by Ryan Fyfe

If your like many, you don't always understand what people are talking about when it comes to Taxes. It's important to know the main tax terminology, especially when tax season comes around. Knowing the...

Tips For Preparing Your Taxes from the Internet by Cal Golden

When it comes to preparing our taxes, many of us could use some help. The following websites offer guidance and information that may assist you in learning about how to get the most out of filing your...

Tax Credit for Going Solar by Rick Chapo

As we sit in the middle of winter, most people can't believe how high their utility bills are. Going with solar energy can lower your bills and you get a hefty tax creditSolar Tax CreditSolar energy is...

Tax Invoice by Max Plata

A tax invoice is a legal document that offers a look at what the GST is for a transaction. Read on to learn about your obligations for issuing, holding, and supplying the different types of tax invoices.You...

Knowing The Benefits And Burdens Under Federal Income Tax Principles by Carl LaFresnaye

There are many different benefits and also burdens that individuals can have under federal income tax principals. It is important for individuals to consult some sort of professional advice when doing...

Last-Minute Tax Help by David C Skul

Even if in most cases people don't want to hear about the word "taxes" until March, preparing early and staying organized will give you no headaches later. But, for most of the people, the deadline is...

Utilizing Tax Tips by Carl LaFresnaye

Tax tips can be found from a variety of different sources, but individuals must be careful to determine whether those sources are professional and legitimate or if they are from average people who are...