Earned Income Tax Credit

Don’t Make This Common Mistake in Calculating Medical Expenses

With the high costs of medical care today, it is likely that medical expenses comprise a significant part of your itemized deductions. While a large amount of deductions can lead to a large income tax refund, it is important not to accidentally oversta…

Special Tax Situations Regarding Home Mortgage Interest

Paying your mortgage bill can be quite a burden, but it does provide most homeowners with a nice income tax return, thanks to deductible home mortgage interest. There are certain items that can be included as home mortgage interest and others that cann…

Finding Tax Courses In Your Neighborhood

There are three basic types of tax courses that will be offered in any particular area. The first is very local, run by an individual who may do nothing but classes. These can vary dramatically in quality because there is limited oversight and no guara…

Benefits Of Efile Taxes

When you submit electronically, your return arrives at the IRS almost instantly. This means that it can be processed a lot faster. One advantage of submitting your taxes this way is that you will receive a notice of acceptance or rejection within 48 ho…

The Tax Implications of Employees Working Abroad

If your employees are working, or going to be working, abroad, you need to consider carefully their potential liability to both income tax, and national insurance. Be careful though, as there are different rules for each.

PAYE – What Is PAYE (Pay As You Earn)?

HMRC needs a way of accurately recording, and receiving the amount of income tax and national insurance everyone pays. The way that HMRC does this is through a system called PAYE (Pay As You Earn). Your employer calculates, and then makes, the necessar…

A Guide To Online Tax Courses

Since being opened to the public, the web has become an incredible resource for information. However, not all of this information is accurate. Anyone can say anything online, and without anything to back it up, it could be completely worthless. It’s up…

Tax Preparer Continuing Education Needed to Address Special Rules For Agricultural Income

When completing tax returns for individuals with agricultural activities, various income sources are reported. In addition to sales of crops or animals raised, farm operations occasionally collect proceeds from crop insurance. The general rules that ap…

Stories of Tax Avoidance Schemes Add to Enrolled Agent Education

Enrolled agents gather more than just tax facts from their ongoing education. They collect stories from colleagues that serve important purposes in enrolled agent careers. In addition to the learning experience, tales of failed tax avoidance scams prov…

Many Questions Arise When Tax Preparer Duties Entail EITC Claims

Many tax preparers are questioning the wisdom of involvement in returns with the Earned Income Tax Credit. But they should not fear EITC claims as long as they follow the IRS procedure for thoroughly questioning taxpayers. An initial step is explaining…

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