People are always busy looking for tax saving avenues during tax filing period. However, it is generally spotted that the anxiousness to save taxes grips people only during filing the taxes. But this needs attention all around the year if one is...

The most horrific thing to the taxpayer is to receive a letter from IRS. Keeping IRS at arms length is not an easy task. If you don’t want them to come to you there a few things you must be extremely careful of. The most basic safeguard is...

Running a business, no matter if it’s a small or part time business, is a blessing in disguise during tax time. Reason is obvious; business would make you eligible for a number of write-offs which otherwise not available for those who earn...

If you are relaxing after filing you tax returns thinking everything is complete, you are mistaken. There are some red factors that may increase your possibility of an unwanted meeting with the IRS. Most of the tax returns are being examined by...

As the deadline, 17th April, closing in, many taxpayers are desperate to file application for an extension to file their returns. This is reported that the IRS is expecting at least ten million taxpayers to file extensions this year. The reasons,...

The fact that IRS is allowing the tax preparers to sell the tax return information to the third parties is quite disturbing rising questions of thefts and break-out of private financial information. The IRS has not yet produced a final version of...

1. Do not get nervous when IRS sends you a letter to file your returns. 2. Sign and date your returns properly. 3. If you are filing returns for first time fill in 88-22 form, and submit it along with the returns. 4. The form 82-83, covers your...

The I-T sleuths have gathered sufficient information on large spenders and intended to use it to track those not paying taxes or not filing returns, Finance Minister P Chidambaram has said. If you have transacted or made cash deposits of Rs 10...