• Garnishment

    Legal process whereas a creditor (the IRS in this case) has obtained judgment on a debt (IRS back taxes or other debt) may obtain full or partial payment by seizure of a portion of a debtor's (taxpayer in this case) assets such as wages, bank account, etc.


  • Glossary

    Tax Related Terms and Glossary

    1040A, U.S. Individual Income Tax Return - Form 1040A, U.S. Individual Income Tax Return, simplified 1040A tax form.


    1099-DIV - A required statement from your broker or a company whose stock you own that summarizes your dividends.


    1099-INT - The statement you receive from payers of interest income that summarizes your interest income for the year.


    401(k) plan - A portion of your earnings is deducted and placed in a qualified retirement plan.


    A Close Look At Federal Taxes - This article on federal taxes will cover basics about federal taxes from history of taxation in the United States, the institution in charge of the taxation process to the methods presently used to calculate the taxes to be paid by individuals and institutions across America.


    A View at Federal Income Tax - This article on federal income tax looks at the definition of the term, the rates that are applied to federal income tax, the situations which call for tax deductions, the people who are expected to pay the taxes and the two methods that are applied calculation of taxes.


    Accessing State Tax Forms - State tax forms can be obtained every year at the beginning of every April through online advertisements. Information of how to fill these forms is also available through the same channel. They come in a PDF format and can be used by self employed individuals as well as owners of LCC.


    Basics of U.S Tax System Explained - Till the period of World War II, the income taxes were paid as an approximate amount at the end of every year. At present, the people of America are paying about forty percent of their income as tax, which was only about six percent few years back.


    Business Payroll Taxes - Your If you have any employees, by IRS you are required to withhold payroll taxes from their paychecks.


    Casualty - A casualty occurs when property is damaged as a result of a disaster such as a hurricane, fire, car accident or similar event.


    Claiming your Tax Refund - The following article seeks to give familiarity to the processes and regularities that are concerned with tax refunds. Matters relating to tax are always complex for the general mass to understand; therefore, such an imminent piece is very helpful.


    Earnings Withholding Order - An Earnings Withholding Order is a continuing levy on a percentage of an individual's earnings.


    Economic Development Areas EDAs - These areas are: Enterprise Zones (EZs), Local Agency Military Base Recovery Areas (LAMBRAs) Targeted Tax Areas (TTAs).


    Evolution of Taxes in U.S - The taxation system of U.S has been subject to various changes in the past that were a response to the taxation scenario present in the country and all over the world.


    Filing your Home Taxes - Filing your home taxes is a very vital domestic exercise that everyone who wants to lead an organized and well structured financial endeavor should consider.


    Financial Hardship - If you cannot pay the full amount due with your income tax return, you can ask to make monthly installment payments.


    Form 1040, U.S. Individual Income Tax Return - Form 1040, U.S. Individual Income Tax Return. If any federal income tax withheld is shown on these forms, include the tax withheld on Form 1040, line 62.


    Form 1040EZ, U.S. Individual Income Tax Return - Form 1040EZ, U.S. Individual Income Tax Return


    How Can One Get a Mortgage? - Since the mortgage rates have fallen down suddenly early this year, the swiftness of finance applications has definitely shown indications of intensification.


    How Does An Income Tax Form Look Like? - This article is to give information how individuals who are liable to pay taxes can make discloses of their earnings for purposes of reconciling of taxes against any exemptions, by the Internal Revenue Service.


    How Tax Deductions Are Made - It is certain that you need to understand how a fraction of the amount you were contracted for if you earn a direct income, or profits from your business goes to the authorities in the form of taxes, and this article tries to bring out how these deductions are done.


    How To Do Your Taxes - Find out how to do your taxes and if you are using an online service find out what to look for.


    Importance Of Filling 1040ez - This article is about 1040ez which enables the taxpayer file in the returns at the end of the month. The 1040EZ is a simplified form used by the IRS for income taxpayers that do not require the complexity of the full 1040 tax form.


    Installment agreement - If you cannot pay your taxes in full, you may request to make monthly installment payments.


    Obama extends tax relief to working families - Tax Relief President Obama announced a five-fold, tax-cut plan and vowed to simplify the monstrous tax code that baffles most Americans.


    Property tax lien - Property tax is based upon your property’s assessed value and your property taxes is the current tax rate.


    Regressive tax - A tax that tends to take a larger percentage of the incomes of lower income citizens than it takes from the incomes of higher income citizens.


    Tax Relief: Tax Deduction and eligibility for deductible taxable income - Tax deduction represents expenses incurred by the tax payer and is sometimes referred to as tax deductible expenses.


    Tax shelters still exist and can save you money - Tax shelters have been described by the unsophisticated as gimmicks or loopholes.


    Temporary Absence - - Even if you qualifying person was temporarily absent from your home, you are considered to have occupied the same household.


    Wash sales - Simultaneous or near-simultaneous purchases and sales of the same property.


    What Tax Relief Is - A definition and an illustration of what Tax Relief is. It gives several examples of tax relief laws allowed by the IRS, tax rates and the purposes of these tax reliefs.


    Who is an innocent spouse and how can I get relief of tax? - Generally, when a joint tax return is filed, each spouse is equally liable for all the tax, penalties, and interest for the particular joint tax year.