Tax Questions

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  • What are Nondividend stock distributions? A nondividend distribution of a stock is a distribution that is not paid out of the earnings and profits of a corporation, like dividends are.

  • There are certain tax deductions that are available to the self-employed only. Below is the list of common tax deductions that are available to the self-employed but not to taxpayers in general.

  • Below is a list of different types of taxes in the USA. There are many types of taxes in this country and even more types of taxes are proposed. Some types of taxes are federal taxes only while others are also state taxes and local taxes. Different types of taxes have different tax rates.

  • The interest rates that the IRS charges are determined quarterly by the IRS based on the existing federal short term rate.

  • The IRS assesses penalties on various tax returns for noncompliance of the tax laws. Below are common IRS penalties.

  • If a taxpayer believes that an overpayment of Federal income tax was made, a claim for refund should be filed with the IRS.

  • There are a few types of IRS audits. Most of the IRS audits are not as bad as people make them out to be. The three types of IRS audits are: correspondence audit, office audit and field audit.

  • Filing a tax return usually means filing federal tax return and state tax returns. Both state and federal tax returns often need you to have the same type of documents to back up your income reporting and expenses as well as credits and deductions you are claiming.

  • Below are the forms and documents that will help you determine what tax credits you are entitled to claim. The most tax credits you can claim from the IRS the lower your tax bills and the more you will be likely to get back from the IRS.

  • Below are useful forms and documents you should have handy when trying to find all the tax deductions and tax adjustments to lower your tax bills.