Preparing and filing your tax return can be daunting, especially when trying to determine which deductions you qualify for and choosing between taking the standard deduction and itemizing. It is a difficult decision to make, but ultimately you will want to go the route that will result in you having the lowest possible tax liability. [...]

For as long as there have been taxes, there have been people who try to avoid paying them, which is certainly the case in California. However, the Franchise Tax Board (FTB) has been steadily improving its technology and reporting capabilities, so it is getting easier than ever for them to locate taxpayers who avoid or [...]

Rapper and actor Ja Rule was sentenced to 28 months in prison on Monday in a New Jersey courtroom for failing to file federal income tax returns. The 35-year-old, Queens-born performer, whose real name is Jeffrey Atkins, is already serving a state prison sentence in New York for a gun possession conviction. Magistrate Judge Patty [...]

A new California tax collection requirement mandates that large out-of-state retailers, such as Amazon.com and Overstock.com, collect sales taxes on all online purchases made by customers in the state of California. The new legislation was signed by Gov. Jerry Brown on Wednesday and went into effect on Friday, July 1, 2011, coinciding with a nominal 1% decrease in state sales tax.

The IRS has announced that interest rates for the third quarter of 2011 will remain unchanged from the second quarter’s rates. According to the IRS website, interest rates will be as follows: four (4) percent for overpayments [three (3) percent in the case of a corporation]; four (4) percent for underpayments; six (6) percent for [...]

Businesses which dispense medical marijuana may soon have the same options as other small businesses in regards to business expense deductions. This is due to the recent introduction of bills which would protect access to medicinal marijuana through banking and tax laws. As reported by AccountingToday.com: “The bills were authored by Rep. Pete Stark, D-Calif., [...]

The IRS has filed a $68,520 tax lien against alleged child murderer Casey Anthony for unpaid federal income taxes, interest and penalties from 2008. The 25-year-old is currently on trial in Orlando, FL for the murder of her two-year-old daughter, Caylee Anthony. The lien was filed just days prior to opening arguments in the murder [...]

It is possible that after nearly 30 years of lax enforcement, the IRS may begin taxing individuals who make donations to social welfare groups. These individuals who have not filed gift tax forms when filing tax returns may find themselves owing back taxes for donations made under Section 501(c)4 of the tax code. This classification has [...]

Months after being sued by California Attorney General for $34 million, Roni Deutch has closed her law firm and surrendered her license. The “Tax Lady” has made it into the news many times since last August when the court prohibited Deutch from destroying evidence and she proceeded to shred millions of pages of documents at [...]

Earned income is subject to federal taxes.  To legally reduce the tax liability owed on earned income, taxpayers can claim deductions and tax credits when filing their annual tax return.  There are several tax deductions which lower the amount of income subject to tax, with taxpayers having a choice between claiming the standard deduction or [...]