Author Archives: Bill Collier

If you cannot pay the full amount of taxes you owe, don’t panic. You should still file your return and pay as much as you can by the April 17 deadline to avoid penalties and interest. You should also contact … Continue reading →

If you need to make a payment with your tax return this year, the IRS wants you to know about its payment options. Here are 10 important facts to help you make your tax payment correctly. 1. Never send cash! … Continue reading →

If you’re self-employed and paying for medical, dental or long-term care insurance, the IRS wants to remind you about a special tax deduction for some insurance premiums paid for you, your spouse, and your dependents. Starting in tax year 2011, … Continue reading →

Parents may not realize that there are tax rules that may affect their child’s investment income. The IRS offers the following four facts to help parents determine whether their child’s investment income will be taxed at the parents’ rate or … Continue reading →

WASHINGTON — With business tax-filing deadlines fast approaching, the Internal Revenue Service today encouraged small employers that provide health insurance coverage to their employees to check out the small business health care tax credit and then claim it if they … Continue reading →

  If you use part of your home for business, you may be able to deduct expenses for the business use of your home. The IRS has the following six requirements to help you determine if you qualify for the … Continue reading →

The Internal Revenue Service has expanded its “Fresh Start” initiative to help struggling taxpayers who owe taxes. The following four tips explain the expanded relief for taxpayers. Penalty relief Part of the initiative relieves some unemployed taxpayers from failure-to-pay penalties. … Continue reading →

If you paid expenses to adopt an eligible child in 2011, you may be able to claim a tax credit of up to $13,360. Here are six things the IRS wants you to know about the expanded adoption credit. 1. … Continue reading →

The Internal Revenue Service offers the following seven tips to help taxpayers avoid an emerging scheme tempting senior citizens and other taxpayers to file tax returns claiming fraudulent refunds. These schemes promise refunds to people who have little or no … Continue reading →

WASHINGTON – The Internal Revenue Service today warned senior citizens and other taxpayers to beware of an emerging scheme tempting them to file tax returns claiming fraudulent refunds.  The scheme carries a common theme of promising refunds to people who … Continue reading →