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Don't treat the IRS as your banker

When cash flow is tight, you may be tempted to pay your suppliers first and your payroll taxes last. The IRS will take steps to minimize the liability as quickly as possible. They also have a powerful weapon available to collect such taxes. Whether or not you own the...

Filing reminder for nonprofit organizations

Nonprofit organizations are required to file annual reports with the IRS. Those with gross receipts below $50,000 can file an E-postcard rather than a longer version of Form 990. The deadline for nonprofit filings is the 15th day of the fifth month after their...

Many tax deadlines fall on April 15

April 15, 2013  is a major tax day, with the following IRS deadlines falling on that date: * Individual income tax returns for 2012 are due. * 2012 partnership returns are due. * 2012 annual gift tax returns are due. * Deadline for making 2012 IRA contributions. *...

Should you directly deposit your tax refund to an IRA?

It sounds like a great idea: Have the IRS directly deposit your tax refund into one or more individual retirement accounts (IRAs). In fact, the IRS touts this option as a way to speed up retirement contributions. The whole process is automated and simple. Read more.

How to know if you've been a victim of identity theft

You may be a victim of identity theft and not have a clue that this has happened to you until you get a notice from the IRS telling you that — * You filed more than one tax return, or someone has already filed using your information. * You owe taxes for a year...