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Featured Topic: Offer in Compromise

In The News

• New Guidelines for Payroll Deduction Contributions to Charities
• Treasury And IRS Issue Notice On Reporting And Withholding For Amounts Includible In Gross Income Under Code Section 409A
• $1 Billion In Tax Credits Allocated To Clean Coal Projects
• Fiscal Year 2006 Enforcement and Service Results
• Additional Honda Vehicles Certified for Hybrid Tax Credits

Ask The Tax Pro

• Are IRS tax liens written off as uncollectable after 10 years?
• How do you avoid being audited?
• I retired last year, and started receiving social security payments. Do I have to pay taxes on my social security benefits?
• Should I notify the IRS of my change of address?
• Can I deduct alimony paid to my former spouse?

Tax Prep Tips

How To Prepare For Your Tax Preparer

So, you've decided to hire a tax pro to complete your taxes. So now you can just go into your tax preparer's office, and walk out with a large deduction, no fuss, no muss, right?

Well, not exactly. While your tax preparer will likely have a much better grasp of the current tax laws than you, and could find several deductions that you might otherwise miss, the preparer does this using the information you provide. In fact, if you come to your tax preparer unprepared, there's not much even the most knowledgeable tax pro can do for you. Like the phrase goes, "garbage in, garbage out." (more...)