A lot is changing in the tax world. Many of the changes are intended to improve the state of the U.S economy. While next year’s tax return should not look very different from this year’s, there are a few changes in particular which taxpayers should be aware of and prepare for throughout the year.

Many taxpayers are asking Roni Deutch Tax Centers across the country about the available “green” tax credits for individuals and their requirements for the 2009 tax season. Two available credits striking a lot of interest are an electric motor-vehicle and the home energy-saving equipment credit.

To help consumers avoid being taken advantage of by these companies, the attorneys of Roni Deutch, A Professional Tax Corporation have put together a list of five alarming tactics employed by some of these companies that you should be wary of before you retain one of them.

For many musicians, the idea of making a decent living doing what they love is practically a dream come true. However, making a profit in the music industry can be difficult enough without having to worry about the tax laws and restrictions that can make life even more complicated. Luckily, there are plenty of steps a musician can take to make sure they are fully compliant with the IRS and their state taxing agency.

Unfortunately, when it comes to tax debt collection, there are dozens of secrets that the IRS does not want taxpayers to know about. As a government agency, they want to collect as much money as they can.

The Senate passed their health care bill (the Patient Protection and Affordable Care Act) this Christmas Eve. Since no Republican Senators voted in favor of either measure, Democratic leaders have made quite a few changes to the legislation in order to get the sixty votes needed to pass the measure.

Caring for a loved one is difficult and time consuming enough, without even factoring in the financial responsibilities involved. Fortunately, the IRS – as well as a few dozen state tax agencies – offer a handful of credits and deductions to help those that provide care to a dependent.

With two ongoing wars and a new health care reform plan, combined with record low tax revenues, Congress is going to need to find ways to increase Federal revenue. Senators and House of Representative members are on a Winter break for now, but when they return on January 20, 2010 they will decide the fate of a slew of tax law changes.

Men and women who bravely join the armed forces to defend their country will come home to a whole set of specific tax rules and regulations. Luckily, most of the tax changes for Veterans are positive, since there are several credits and deductions that apply only to them.

When you are married, you can either file a joint tax return with your spouse, or you can file separate returns. If you and your spouse file a return together, then you are both equally liable for all taxes during the years you are married, as well as any penalties or interest. However, realizing that there are instances when it would be unfair to hold both spouses equally responsible, the IRS created the Innocent Spouse Relief Program.

If you thought filing a tax return every year as an American citizen was overwhelming, then you may be astounded to learn how difficult paying taxes are for a U.S. citizen living abroad. All American citizens are required to pay their taxes, regardless of whether they are living and/or working outside the country. There are several provisions in the U.S. tax code to make paying taxes from across the globe a little easier, but the process of calculating your tax liability can be time consuming and confusing even for a trained tax preparer.

If you thought filing a tax return every year as an American citizen was overwhelming, then you may be astounded to learn how difficult paying taxes are for a U.S. citizen living abroad. All American citizens are required to pay their taxes, regardless of whether they are living and/or working outside the country. There are several provisions in the U.S. tax code to make paying taxes from across the globe a little easier, but the process of calculating your tax liability can be time consuming and confusing even for a trained tax preparer.

The tax breaks available to foreign income earners are: the Foreign Earned Income Exclusion, the Foreign Housing Exclusion, and the Foreign Housing Deduction. In order to claim any of these deductions, your tax home must be in a foreign country, you must have foreign earned income, and you must meet the requirements of the bona fide presence test or the physical presence test. This is where the rules become convoluted and difficult to apply.

If you own a business or are self-employed, then you are probably used to the idea of tax planning throughout the year. However, even if you are a regular wage-earning employee and do not have to worry about making quarterly payments, you should still get in the habit of thinking about your taxes all year long. It will make tax season less stressful, and by planning your finances in advance you can keep your tax liability as low as possible.

The Obama Administration and leaders in Congress are quietly working on ways to further stimulate the economy. With unemployment rates continuing to climb, and a housing tax credit due to expire in a few weeks, there is pressure on the White House to do something else to help the economy.

The IRS offers three (3) different payment options when it comes to the Offer in Compromise: Lump Sum Cash Offers, Short Term Periodic Payment Offers, and Deferred Periodic Payment Offer. However, the difference in these payment options is not solely the difference in how the Offer in Compromise is to be paid. Rather, each “payment option” actually impacts the total amount the taxpayer will pay to the IRS.

For most of us, the scariest thing in life is not a ghost, vampire, or witch, but a letter from the IRS. To celebrate the Halloween season, we have compiled some of the scariest IRS horror stories. They may not cause you to lose any sleep, but should at least be a reminder to keep receipts and stay up to date on your rights as a U.S. taxpayer.

During the magical time of year known as tax season, millions of US taxpayers scurryabout to prepare their tax returns for eventual filing. However, since the 1040 filing process can be very complex, it is not surprising that taxpayers make mistakes when preparing their tax returns. Worse still, all tax returns must be signed under criminal penalty of perjury, which can cause some discomfort to taxpayers when they are not confident that they are submitting all of the correct information. For those taxpayers that have improperly filed their tax returns, don’t worry. Your returns can be amended!

Unfortunately, nearly any reforms on cap and trade will have a direct effect on taxpayers. This could be especially troubling in a time where many families in this country are already struggling to get by.

Now that the popular Cash for Clunkers (CFC) program has ended, consumers can no longer take advantage of a $3,500 or $4,500 rebate towards the purchase of a new car. However, the CFC program was just one of the many incentives the government has setup to encourage taxpayers to buy a new vehicle.

When seeking help with your taxes, it is important to seek out the highest quality tax services possible. If you make the mistake of going to an unqualified tax preparer then it could result in hundreds, or even thousands of dollars, in missing credits and deductions. To help some of our readers wondering what to look for in a tax service provider, please enjoy the following list of 10 helpful tips for finding a quality tax preparer.

As the health care reform debate continues, it seems like television commercials and e-mail blasts are going out left and right to either promote or discredit the bill. To help people confused by some of the claims being made in these advertisements please enjoy the following list of the top tax myths about the health care reform bill.

With all the attention being given to Obama’s health care reform campaign, and Congress’ bill that includes a hefty tax increase to pay for it, I began thinking about tax rates and increases throughout American history. To put the pending tax rate changes into perspective for all of my readers, please consider the following outline of tax increases in U.S. history.

Back to school season is in full swing, and if you are a teacher or educator then you may qualify for valuable deductions. Specifically, through the Educator Expense Deduction, the IRS allows qualifying teachers and educators to deduct up $250 worth of un-reimbursed teaching expenses. Some examples of expenses that could be included are books, art supplies, paper, crayons, software, etc.

One of the most confusing parts of IRS back taxes is whether or not they can be discharged through bankruptcy. To help anyone considering this option, please enjoy the following article explaining taxes and bankruptcy.