Tax Refund Spending Dos and Don'ts
Tax refund spending dos and don'ts
Contrary to what others say, a tax refund should never be treated as 'free money' or a 'bonus'. It is your money, and you can do whatever you want with it, however, if you chose to spend it wisely, you can definitely reap the...
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Instructions to Fill Out Form 1120
Instructions to fill form 1120
Form 1120 is an IRS form that is used by corporations to file income tax returns. Buzzle provides you with instructions to fill out Form 1120.
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Instructions to Fill Out Form 1040X
Instructions to fill out form 1040X
Form 1040X is an amended income tax return form that is filled in order to rectify errors made in the other IRS forms. Buzzle enlists the instructions to fill out Form 1040X.
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Flat Tax Pros and Cons
Due to the disparity in the tax structure, many thinkers have proposed to implement a flat tax structure. In this article, we will try to understand the concept of flat tax and the benefits and repercussions involved in its...
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Form 1096 FAQ
While filing income tax returns we need to attach several forms. Form 1096 is one such form that goes into the return. Here is a brief description of this form along with FAQs about the same.
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Instructions for 1040 Schedule A
The Form 1040 is an individual income tax return filed with the IRS and here are some instructions for 1040 Schedule A, that can help you while filing one.
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Federal Tax Brackets for 2012
The official Federal Tax Brackets for 2012 was issued lately by the IRS. It may take you by surprise but the breakdown of income is quite similar to the 2011 federal income tax brackets, with the only modification being done in the...
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Alternative Minimum Tax 2012
As the Congress did not come to a consensus on AMT tax relief, you might have to pay up more taxes this year than what you paid in the previous year. Here is an explanation about the concept of alternative minimum tax and whether...
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How to Calculate Income Tax
Unless total annual income falls below a certain level, it is important for every individual to make sure that enough money is put aside to pay income taxes and tax returns are filed every year. The process of calculating income...
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Flat Tax Vs. National Sales Tax
Flat tax and national sales tax are important concepts in the field of taxation. The comparison of flat tax vs. national sales tax given below will help you know things better.
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Progressive Tax vs Flat Tax
What kind of a taxation policy can work better for taxpayers in the long run? A tax rate that is directly proportional to the income of the individual, or a single flat rate of taxation for all? This article, about progressive tax...
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Tax Underpayment Penalty
In the following paragraphs, a comprehensive explanation on the penalty for tax underpayment has been provided here. The penalty rates are prescribed by the IRS on an annual basis and are often subject of changes, which are usually...
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Tax Refund Time Frame
Some time frame specifications regarding the filing of the returns, the processing and actual posting of the refund have been discussed here. Though the timetable of this time frame is not exactly the same every year, save some...
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Instructions for Form 1040 Schedule D
The following article provides some general instructions for Schedule D of Form 1040, which is the fourth basic constituent of an individual's income tax return. Some inputs regarding the filling up of this form have also been...
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Instructions for Form 1040 Schedule C
Once January arrives, all of us get tied up in one confusing, but extremely important activity of tax filing i.e., income tax returns. Some simplified instructions for filling up Form 1040 Schedule C have been discussed in this...
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What is Progressive Tax?
Most free economies under democratic rule tend to apply the model of progressive taxation or progressive tax. Here are some extracts about the system, its merits and some demerits. Let's take a look.
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Form 1040 Schedule B
Schedule B is principally a part of Form 1040, which is used to report and declare income that gets accrued by ownership of certain assets, and here are some guidelines for filing the same.
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Things You Should Know about Graduated Income Tax
Graduated income tax laws are found in many countries including the United States. In this article, we will inform you about various aspects of graduated or progressive taxes.
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How to Refile Your Tax Return
Are you thinking about re-filing your tax return and want to know the procedure that needs to be followed? Read through this article to understand the steps and some common mistakes that can be avoided.
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Instructions for Form 941
Form 941 constitutes the method by which payroll taxes are forwarded to the IRS by our employers. Instructions to file the same are provided in this article.
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Implications of Filing Taxes Late
In the following paragraphs, a brief elaboration on the implications of late filing of taxes has been presented, to encourage filing them on time. It is advised that late filing be avoided as far as possible.
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Proportional Tax
The age-old system of proportional taxation is still used today, to impose some common indirect taxes. Many experts and economists are of the opinion that this system of taxation is not the best, and that taxes should decrease or...
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What is Principal Business Code?
It is extremely important for business owners to identify principal business code, as it is required in numerous legal document approvals. Information about the same has been divulged in the contents that follow further...
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What is Taxable Income
Determining taxable income is essential for all salaried as well as business professionals. In the following article, this subject will be dealt with, in greater detail.
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What is Deferred Income Tax?
A prominent accounting term, deferred income tax, is income or expenditure that has not yet been transacted, but has been recognized in the books of accounts and the balance sheet. It is also known as future income tax. Keep...
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How to Get a Copy of Your Tax Return
There might be instances where you may require a hard copy of your tax returns. Tax return copies or rather transcriptions are given by the IRS (Internal Revenue Service) post a small application procedure. Here we give you three...
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How to Fill Out a W-4
In the following Buzzle article, the correct way of filling the W-4 form, before and after marriage, is given. Keep reading...
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How Long Does it Take to Get a Tax Refund
What is a tax refund? How long does it take to get it back? You will find all the answers in here.
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Claiming Parents as Dependents for Tax Benefits
If you claim your parents as dependents on taxes, it will help you gain a number of tax benefits. Check out the following Buzzle article below to know more...
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File Tax Return Without W2
Many people want to know if a tax return can be filed without a W2 form. In this Buzzle article, we answer your queries and clear your doubts about the filing taxes, and the forms required to do so.
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Minimum Income to File Taxes
You have to pay taxes if you have earned a certain minimum income. In this article, we tell you how much you have to earn in order to be eligible to pay taxes.
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How Can Married Couples File Taxes Separately
While filing for taxes, the fact that you are married gives you a choice to either tick the option marked 'married filing separately' or 'married filing jointly'. Let us explore the former option in this article...
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Rules for Claiming Dependents on Taxes
Are your children still dependent on you and so you are thinking of claiming dependents on taxes? If that's the case, you need to know the rules which apply and this is where we can help. Read on...
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Exemptions on Tax Return
Worried about exemptions on tax returns for the next financial year? You don't need to be, here we give you a description of what are exemptions on tax return and the ways in which you can claim exemption. Read on...
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Flat Tax Vs. Fair Tax
The floor is open for the debate titled 'flat tax vs. fair tax'. Read the article to know the difference between the two and decide which one is better for you.
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Penalty for Not Filing Taxes
Whatever may be the reason, you may have to face a huge penalty for not filing taxes. What are these penalties? Let's have a look...
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Married Filing Jointly
Married filing jointly is one of the options that the IRS gives married couples for filing their taxes. This article discusses how it works and its pros and cons.
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Tax Risk for Middle Class Americans: Increased Audits and AMT
Middle income Americans need to be aware of perils involved with filing their taxes. This classification of taxpayers is now at greater risk for audit, and is more vulnerable to the alternative minimum tax (AMT).
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Fiscal Policy
Fiscus (in Latin) refers to a purse, and "fisc" (in English) is a royal or state treasury. Thus, "fiscal policy" is the one under which the government uses its revenue and expenditure programs to produce...
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