Many people may be thinking of sending donations to assist in Japan’s relief efforts in the wake of the aftermath of the earthquake and tsunami recently effecting the region.  If you are thinking about making a donation toward Japan’s relief efforts you may want to make sure that you are donating to a charity that… Continue reading

When you plan to come in to do your taxes make sure to bring all of your information and mention any purchases or payments made throughout the tax year that may help you save money on your income taxes.  Some of the items to remember are: Education Expenses Including Tuition, Books and Fees Contributions to… Continue reading

With large refund averages and an increase in the release of refunds the IRS has begun reminding taxpayers of their refund options.  They offer several options for depositing your refund, including a Saving Bond Option. By March 4, the IRS had issued more than 52 million refunds worth $161 billion for an average refund of… Continue reading

We all know better then to try to write off these outlandish expenses but it’s fun to see what some people are willing to do in order to save money on their taxes.  Here are some of the crazy things people have tried to claim on their taxes, unsuccessfully of course. Prostitutes as a “Medical… Continue reading

President Obama’s proposed budget for 2012 includes an increase in funding for the Internal Revenue Service enforcement efforts.  Though Republicans talk of decreasing the IRS budget, the President believes that increasing the enforcement efforts will bring in additional revenue and assist in closing the deficit. Turns out, IRS agents make good on the investment, collecting… Continue reading

If you are thinking about arguing with the IRS then you should think again.  The Internal Revenue Service can penalize you if they believe your argument is frivolous. Frivolous arguments include contentions that taxpayers can refuse to pay income taxes on religious or moral grounds by invoking the First Amendment; that the only “employees” subject… Continue reading

Nearly 1.1 Million taxpayers did not file a federal tax return for 2007.  New York taxpayers account for 62,600 of the tax returns that have not been filed.  These returns have an average refund amount of $706 and account for approximately $78,405,000. These individuals who did not file, must submit their income tax returns by… Continue reading