Tax strategies

Alaska Governor Sarah Palin will have to pay taxes on $16,951 in travel allowances that she billed the state for days she worked from home in Wasilla.

The stimulus bill signed into law this week includes significant tax savings of up to $1,000 per year for workers who commute by mass transit.

Tax return examiners at the Internal Revenue Service often select the wrong prior or subsequent year’s tax return when looking for inconsistencies with the current tax return.

Here is some advice from the Internal Revenue Service about reporting gains and losses on tax returns:

Swiss bank UBS has worked out a deal with the Justice Department and the Securities and Exchange Commission to reveal the identities and account numbers of U.S. citizens who have been stashing their money in previously secret bank accounts.

Intuit has updated its payroll service with the latest tax changes, forms and credits to comply with the newly passed economic stimulus bill.

President Barack Obama plans to sign the stimulus bill into law in Denver on Tuesday after Congress passed the massive $787 billion bill.

Education tax credits can help offset the costs of higher education for yourself or a dependent.

How much, if any, of your Social Security benefits are taxable depends on your total income and marital status.

A former attorney at BDO Seidman has pleaded guilty to tax evasion and tax fraud charges in connection with a tax shelter scheme.

President Barack Obama signed the massive $787 billion stimulus bill into law in an effort to boost the economy out of a deep recession.

The Illinois CPA Society is suggesting that couples have a heart-to-heart talk on Valentine’s Day about a topic that’s been making the rounds these days: money.

House and Senate leaders made last-minute adjustments to the economic stimulus package as the final bill headed for a vote.

The amount of taxes owed to the U.S. government from cross-border transactions by U.S. and foreign citizens and businesses is murky, according to a new report, but could be as high as $123 billion.

The Internal Revenue Service did not work effectively on over a quarter of the cases involving delinquent taxes of between $100,000 and $1 million, and in some cases simply dropped them, according to a new report.

Online bookkeeping service IAC-EZ is offering one month’s free use of its online software and free tax filing for a few lucky small business entrepreneurs.

The Internal Revenue Service has charged PGA champion golfer Jim Thorpe with income tax evasion for failing to pay $1.6 million in back taxes.

When filing a 2008 federal tax return, taxpayers will need to know the amount of their economic stimulus payment to properly determine if they are eligible for a recovery rebate credit.

Did you get your W-2? These documents are essential to filling out most individual tax returns. You should receive a Form W-2, Wage and Tax Statement, from each of your employers each year.

If the patch for the alternative minimum tax is going to be one of the hurdles holding up reconciliation of the House and Senate versions of the stimulus bill, let’s get rid of it.