Tax Latest Information

Tax Latest Information

Popular Tax Breaks Dead
Popular Tax Breaks Dead. What Happens Next? A whopping 77 tax deductions, tax credits and other tax-saving laws expired on Dec. 31, 2011, according to a tally by the congressional Joint Committee on Taxation.

Tax rituals begin again; season off to fast start
The annual ritual of filing income-tax returns is up and running in Arizona.

Tax tips for the 99%
While the punditocracy dives into the details and debates the vices and virtues of Mitt Romney’s and Newt Gingrich’s 2010 tax returns, we found a gold mine in tax savings for ordinary folks who will never need a Swiss bank account. Read full article >>

Facebook's high tax rate likely to drop
(Reuters) - Facebook, the social network giant on the verge of a huge initial public stock offering, pays an unusually high tax rate, but that is likely to change soon, analysts said. At 41 percent on an effective basis, Facebook's tax rate is well above rates paid by larger, more mature high-tech groups, and above the top U.S. corporate income tax rate of 35 percent. But the exercise by ...

Top Tax Tips From Zuckerberg's Facebook Bonanza
The revelation that Facebook's Mark Zuckerberg plans to exercise $5 billion worth of stock options before his IPO suggests his 2012 tax bill could be close to $2 billion! See Zuckerberg?s 2012 personal income??tax bill: $1.5 billion. If size matters, that will make Zuckerberg The Incredible Hulk of Taxpayers. After all, the 400 wealthiest filers ...

Inaccurate Tax Return, Now What?
If the IRS finds errors, it will cost you. Find out how to fix them - and prevent them in the first place.

I'm Okay with Mitt Romney's Income and Estate Tax Planning
Americans are allowed to pay the lowest tax they are legally obligated to pay. Taxpayers who pay more do so usually because they are unaware of rules or planning opportunities applicable to them or fail to implement planning. It is the job of the President and Congress to enact legislation delineating the public's tax obligations, ...

Lil Kim Has Big Tax Troubles
? I don?t make a habit of posting about celebrity tax woes. Quite frankly, I don?t get why most taxpayers care if an occasional pop star or movie mogul owes a few thousand dollars to the IRS (other than a little schadenfreude) since most of the time, I tend to believe that it?s the result ...

Tax Tip: Document Your Special Tax Situations
Editor's Note: This article is part of our 2012 Tax Tips series. Robert Flach is an expert with almost 40 years of experience as a tax professional and also blogs as The Wandering Tax Pro. By Robert Flach NEW YORK (MainStreet) -- There's a lot more to tax filing than totaling your wages and taxes paid, so if any of the following situations apply, make sure you provide your tax preparer with the ...

Sunday Dialogue: Time for Tax Reform?
Should capital gains and dividends be treated like ordinary income? Readers discuss the pros and cons of tax preferences.

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