Since the recession began, a number of new businesses started to supplement or substitute incomes during situations of job loss. It is important for these small businesses and their owners to be cognizant of the hobby loss rule instituted by the IRS.

Part of being a diligent taxpayer includes keeping proper documentation. One rule to good organization is keeping up with your tax related documents as soon as you are done with them. There are some documents that need to be kept for years and other that can be tossed away as soon as you have finished [...]

Between her two reality TV shows, clothing store DASH, and LA Laker husband Lamar Odom,  Khloe Kardashian has still somehow managed to score herself a tax lien. Last time I checked, reality TV, luxury retail, and basketball all pay pretty well, but apparently just not well enough. Either that, or Khloe is just another celebrity [...]

Beginning in 2011, the Internal Revenue Service will be changing the rules for tax preparers who are paid to complete and file an individual or a business tax return. The IRS will require all paid tax preparers to register with the agency and take tests of competency and pass successfully. The only caveat is that [...]

It is a common misconception that when it comes to the IRS, you have little or no rights concerning tax issues. With thousands of tax codes to contend with, it is not unusual for taxpayers to feel overwhelmed and intimidated by the entire tax process. While it is true that the IRS is a powerful [...]

If you have received a notice from the IRS the first and most important thing is to not panic. Most notices are minor and should not be of long lasting concern and many do not even require any action on your part. Here is some information that will help guide you through the process and [...]

In a perfect world we could be rest assured that any person, company, or offer we came across was legitimate. Unfortunately, this is not the reality of the world in which we live and therefore consumers across the nation must always be on the lookout for scams perpetrated by con artists. Criminals looking to make [...]

The IRS 1099-Misc form has always been used to track payments made from one company to either an individual or another company that are not salary-based.  If you hire someone to design a website, it’s a one time payment.  If that payment is more than $600, then you issue that person a 1099-Misc form, and [...]

Florida residents who have lingering unpaid Florida back taxes are now in luck. Beginning just one week ago on the first of July, 2010, and continuing on until September 30, the Florida tax amnesty period gives hope to those who have missed tax payments. The three month period offers taxpayers major perks, including reduced interest [...]

Ronald Reagan once proposed eliminating the federal corporate income tax. That was in 1983 and the same issue has been brought back to the table; however it doesn’t seem like too many people are taking notice.