4 minutes read
While there are reports circulating that the IRS’ budget has been slashed and audits are going down, there are still many sure shot ways you can get yourself audited by the IRS. Forbes.com list the 15 most common ways to invite an Audit by the IRS:
1 minute read
Many people may be thinking of sending donations to assist in Japan’s relief efforts in the wake of the aftermath of the earthquake and tsunami recently effecting the region. If you are thinking about making a donation toward Japan’s relief efforts you may want to make sure that you are donating to a charity that will allow for a tax deduction. Donations made to charities in 2011 can be claimed on your next tax filing in 2012 as long as the charity is US based and qualified by the Internal...
1 minute read
Taxpayers that make donations to charitable organizations can claim a deduction(s) for the donation(s) if the return is itemized for the tax year in which the donation(s) was made. Last year is an exception to this rule. After the devastation caused by the earthquake in Haiti there was a brief period between January 12th 2010 and March 1st 2010, that the Internal Revenue Service would allow donations made to charitable organizations assisting in Haiti’s aide to be deducted on the 2009 tax...
3 minutes read
By now, everybody is aware of the sheer devastation inflicted on the people of Haiti by a massive earthquake that struck 9 days ago. It has been estimated that in excess of 200,000 people have been killed or are still missing. The global outpouring of aide & donations are setting records daily. However, in an effort to reward those that have made donations to Haiti–as well as provide an incentive to those that have not–a bi-partisan bill is being introduced by the Leaders of the House Ways &...