888 Tax Relief Services – Simple and Easy!

Everyone knows you’re supposed to pay your taxes on time and in full, but you may not understand the actual penalties the Internal Revenue Service can levy if you fail to comply. This tax season, resolve any delinquent tax issues you have before the penalties threaten your income and property.

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So you have acquired either a “Notice of Intent to Levy” or maybe an actual levy has been delivered to your bank, company or placed on another source of income. A “Notice of Intent to Levy” is a 30 day notice left at the individual’s regular workplace, house, or shipped to the last known address on file. The IRS will move forward with delivering a levy if the tax problem is not solved before the 30 day time frame comes to an end.

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This week we would like to talk about a common but valuable business tax deduction, vehicle mileage. When you deduct your vehicle mileage, you keep track of your mileage and then multiply it by the standard mileage rate. You then take that amount and deduct it on your taxes. For example, in 2010, the mileage rate was 50 cents per mile. So if you drove 20,000 miles in 2010 you would have been able to deduct $10,000.

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Income tax preparation can be difficult. It is usually best to have a professional do the work for you. Many people prefer not to spend the extra money, but it is a better alternative for most people.

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The baby boomers are hitting retirement age in huge numbers over the next 10 years. Couple this with the stock market performing in a horrid manner over the last decade and low interest rates on savings and you have lots of children that may have to provide care for their parents. The question arises, can I claim my parent as a dependent?

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India has a network of treaties for avoidance of double taxation. These treaties do not provide for any bilateral arrangement for assistance in tax recovery by one country from the residents of another country.

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Tax season is filled with conventional wisdom-some of which may not actually be valid for every situation. Learn the truth about some common tax myths, so you can file your return with your eyes open.

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Hiring someone to file your taxes can be expensive, but it can also save you time and frustration. If you’re a financial whiz, or if your return is straightforward, you may not need tax preparation services; however, more complicated returns can benefit from the help of a professional.

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Don’t let another year go by without resolving your back taxes. Consult an accountant, tax attorney, or other tax professional for help this tax season to start the coming year with a fresh slate.

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While you may be tempted to put off filing your taxes, there are a number of advantages to filing early. To prevent errors and avoid hefty tax penalties, make sure to file your return well before the deadline.

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