Tax Guide 2009

Taxwatch
No time to waste
All the talk of a new stimulus package -- with new tax laws -- may have taxpayers thinking they should put off preparing for their '08 returns. But no matter what lawmakers decide to do, there are still many tax to-do's you can get done in January.
Bankrate's Kay Bell points to eight tax steps to take right now
 
TAX TIPS
Get it right
Choose best deduction method for you
Be wary of debt settlement offers
Who has to file a return?
Which form should you use?
Your e-file options
10 common tax mistakes
Are you audit bait?
Don't fall for IRS-related scams

Tax breaks and deductions
Tips on deducting charitable donations
Valuation guide for donated goods
Special rules for some donations
Deducting exercise equipment
When to claim the child care credit

Tax help
Relief for innocent spouse
Tax aid for low-income taxpayers
Who needs to file a tax return?

The irs
Tough times prompt friendlier IRS
Taxpayers who are struggling to pay their bills can expect a little more understanding from the IRS this year. The agency says it's easing some rules because of the financial crisis.

the next stimulus package
New Congress, new stimulus
Lawmakers signal they might support President-elect Obama's stimulus package -- thanks, perhaps, to expected tax cuts.
Obama pushes $300 billion in tax cuts
MarketWatch First Take Commentary: Tax cuts make sense

tom herman's tax report
Good news on '09 taxes -- for some
Tax laws that went into effect on Jan. 1, including larger exemption on estate taxes, benefit taxpayers, particularly high-income people.
TaxWatch: Inflation adjustments offer some relief on 2009 taxes

after obama takes office
Tax changes ahead -- but when?
High-income taxpayers will see their bills rising, while others will see lower tax bills -- but changes may be some time in coming.

the 2008 fiscal stimulus

Don't miss out
Millions of Social Security recipients and veterans have yet to claim their stimulus payments.
Millions of dollars unclaimed
Two checks? Don't cash them both
Withdrawing stimulus payment from IRA
Along with payments, expect scams


charitable giving
Your turn to pitch in
Many of us want to know how the government's going to take care of the economy. But there are a few ways we could do our part to help others facing their own financial turmoil.

financial crisis
Perks for taxpayers
The 2008 bailout plan aimed at rescuing the U.S. financial markets also contains plenty of perks for individual taxpayers and small business.

taxwatch
Getting it wrong
A limited study of paid preparers' returns finds them rife with mistakes, including one that showed the taxpayer owing about $4,900 more than he actually owed.

Eight tips for finding a tax preparer
BY EVA ROSENBERG
As TaxMama, I receive many letters from readers who’ve suffered at the hands of unscrupulous tax preparers, including letters from taxpayers who’ve had to pay tens of thousands of dollars of additional tax. More often than not, the tax pro that made the mistakes is no longer picking up the phone, maybe has even shut down his business.

Tax breaks aimed at home buyers, tuition payers in House plan
BY ANDREA COOMBES
From tax breaks for college costs to an expanded credit for first-time home buyers and perks for businesses, U.S. taxpayers would see about $275 billion in tax cuts under a fiscal stimulus plan proposed Thursday in the House of Representatives.

Tax-stimulus scam kicks off new season of fraud danger
BY ANDREA COOMBES
Another tax season, another new tax scam.

With 500 tax changes in '08, time is now to start your tax chores
BY MARKETWATCH
It’s not too early to get started on your taxes; at the least, you can start gathering any receipts and other records you’ll need. In fact, given the extreme complexity of the tax code, you should consider getting a move on it sooner rather than later.

Seven steps to get a jump on your taxes in January
BY EVA ROSENBERG
Some people are wary of making any tax moves this month because President-elect Barack Obama and Congress are working on a stimulus package with new tax provisions -- but don’t let the uncertainty confuse you.

IRS promises to help struggling taxpayers during financial crisis
BY ANDREA COOMBES
The IRS on Tuesday announced new steps to ease pressure on people struggling to pay taxes during the global economic crisis.

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