Archives 2011

Updated as of November 1, 2011The Form 2290 is available now. If your vehicle was first used in July, August, September or October 2011, you are required to file Form…

WASHINGTON — For tax year 2012, personal exemptions and standard deductions will rise and tax brackets will widen due to inflation, the Internal Revenue Service announced today. By law, the…

An individual may be able to take a tax credit of up to $1,000 ($2,000 if filing jointly) for making eligible contributions to an IRA or employer-sponsored retirement plan. Who…

Why should you enroll in your employer’s retirement plan? Did you know… That retirement can last for 30 years or more? That a common rule to follow is that a…

Highlights: Sometimes it seems as though everyone has a 401(k) plan these days. Did you ever consider getting one yourself but just don’t know how they work? Have no fear.…

Your contributions to your SEP plan (that is not a SARSEP) are not reduced by the contributions you or your employer make to your employer’s SIMPLE IRA plan. SEP plans…

Employee Contribution LimitsYou can make salary deferrals (salary reduction contributions) of up to $11,500 to a SIMPLE IRA plan. If you’re age 50 or over, you can contribute an additional…

Some argue that taxpayers may refuse to pay federal income taxes based on their religious or moral beliefs, or objection to the use of taxes to fund certain government programs. …

This argument asserts that wages, tips, and other compensation received for personal services are not income, because there is allegedly no taxable gain when a person “exchanges” labor for money. …

Proponents of this argument contend that section 6020(b) obligates the IRS to prepare and sign under penalties of perjury a federal tax return for a person who does not file…