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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.
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Earned Income Tax Credit (EITC) Information - Unclaimed IRS Checks
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Does IRS have a Refund or Stimulus Check for you
The Internal Revenue Service is trying to find 279,000 recipients for more than $163 million in undelivered economic stimulus payments, according to the government. The average undelivered check is worth about $583.
Most undelivered stimulus payments had incorrect or incomplete addresses, according to the IRS. By law, the agency can't send out any more economic stimulus checks after Dec. 31 of this year.
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However, "if you don't by chance make the deadline, and get your economic stimulus check in time, you can get it as a credit [a recovery rebate credit] on your 2008 tax return," said an IRS spokesman.
Last year 115,478 IRS income tax refund checks totaling $110 million -- an average of about $953 per taxpayer -- undelivered mainly due to unreported changes of name and/or address, typically after a move, marriage, death or divorce. In addition, each year an estimated $500,000,000 million in IRS refund checks that are delivered are not cashed and go unpaid every year.
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Special tax programs are another source of unclaimed funds. Millions of dollars in 2008 Economic Stimulus Payments will go unclaimed. These special refunds of $600 or more were sent out starting in mid May.
Taxpayers must request reissue if a tax refund check has been lost, destroyed or voided due to the passage of time -- US Treasury checks are generally negotiable one year from the date of issue. Because the funds are held by an agency of the U.S. Federal government, your name will not appear in a state unclaimed property database search.
"People across the country are missing tax refunds and stimulus checks. We want to get this money into the hands of taxpayers where it belongs," said IRS Commissioner Doug Shulman in a statement in October.
What Other Authors say about Taxes
Gambling Income and Expenses - Taxes
by Richard A. Chapo
Hit a big one? With more and more gambling establishments, keep in mind the IRS requires people to report all gambling winnings as income on their tax return.Gambling income includes, but is not limited... When a taxpayer owes money on their taxes they need to pay the amount owed before the traditional April 15th deadline. If the amount owed on taxes is not paid before the deadline, then federal and state... 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... It is important to keep in mind that the IRS computer system selects the returns that are audited, not human employees. The computer system selects returns that are likely to yield the most money to the... 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...
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Index of Articles about Taxes
What Other Authors say about Taxes
Gambling Income and Expenses - Taxes
by Richard A. Chapo
Hit a big one? With more and more gambling establishments, keep in mind the IRS requires people to report all gambling winnings as income on their tax return.Gambling income includes, but is not limited... When a taxpayer owes money on their taxes they need to pay the amount owed before the traditional April 15th deadline. If the amount owed on taxes is not paid before the deadline, then federal and state... 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... It is important to keep in mind that the IRS computer system selects the returns that are audited, not human employees. The computer system selects returns that are likely to yield the most money to the... 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... |
