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WASHINGTON — The Oct. 15 deadline to file a 2007 income tax return and to receive an economic stimulus payment this year is fast approaching.

This is the deadline for the estimated 4.3 million retirees and disabled veterans who may be eligible to receive a stimulus payment but who normally don’t file a tax return.

It’s also the deadline for the approximately 10 million people who earlier this year received extensions to file their 2007 income tax return.

“Don’t let the economic stimulus payment pass you by,” said government Commissioner Doug Shulman. “If you want the payment this year, you should file by Oct. 15. We recognize that there may be older Americans and disabled veterans who still have not filed for their stimulus… Continue reading

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• Who Should Use The New Self Employment Tax Returns In The UK (0)

Anyone in business in the UK who is not incorporated into a limited company must complete a tax return of their financial affairs each year. For a number of years the specific tax return to be completed by everyone self employed was the self assessment tax return.

The new self employed tax returns were introduced quite late in the reporting process being published at around the end of the financial year, to which they relate, 2006 07. This should not be a problem to those familiar with the previous small business tax return as the format is similar and presented in… Continue reading

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Our President, George W. Bush, signed a bill that was already approved by Congress earlier this year to send every American who has filed a 2007 tax return a check to stimulate the slowing US Economy. Many people immediately criticized this stimulus package saying that it would not help out the economy one bit. Many other people are excited to get an additional check from the IRS to help supplement the raising gas prices as well as the raising prices in the food industry.

House Speaker Nancy Pelosi is already calling for a second economic stimulus bill, however Bush… Continue reading

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It is often noticed that many of the business organizations suffer to a great extent during tax session. Unfortunately, this scenario is visible with countless business firms. This not only blocks the management of the firm but also affects its chances of development in an adverse manner. Therefore, it is necessary for the business organizations to formulate a more planned option. However, this is quite a demanding task for a company that is already maintaining and managing various other important sectors such as marketing, production and accounting. Hence, to support the basic requirement of good tax return program under the… Continue reading

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Tax Return and Tax  Audit

Most people breathe a sigh of relief when they finally send off their income tax return to the IRS. After all, this means that you are done dealing with this process until the next year. Of course, not everybody is so lucky. Each year, the IRS audits thousands of unsuspecting Americans who thought that they were in the clear.

If you receive a letter from the IRS stating that you are going to be audited, there are several steps that you should take.


1. Immediately find your tax return as… Continue reading

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Starting in May, the Treasury will begin sending economic stimulus payments to more than 130 million households. To receive a payment, taxpayers must have a valid Social Security number, $3,000 of income and file a 2007 federal tax return. IRS will take care of the rest. Eligible people will receive up to $600 ($1,200 for married couples), and parents will receive an additional $300 for each eligible child younger than 17. Millions of retirees, disabled veterans and low-wage workers who usually are exempt from filing a tax return must do so this year in order to receive a economic stimulus… Continue reading

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