Filing Taxes as a Dual Citizen August 01, 2012
When you are a citizen of the United States, Uncle Sam expects you to pay taxes – no matter where you live. It is also true of dual citizens. If you have dual citizenship, even if you aren’t a US resident, you are still supposed to file a tax return and pay taxes in the United States. The United States is one of the few countries to tax their citizens living abroad. It has lead to some giving up their US citizenship.
Expenses That Are Not Subject to 2% Deduction Limit July 19, 2012
There are several types of miscellaneous tax deductions that are not subject to the adjusted gross income 2 percent limit. These deductions can be listed as miscellaneous itemized deductions:
Could it be Smart to Pay Your Taxes with a Credit Card? July 11, 2012
When it comes to paying your taxes, you have a few options. The IRS accepts checks of course, and even offers a payment plan for those who are having difficulties paying what they owe. It’s also possible to pay your tax bill with a credit card.
SCOTUS: Patient Protection and Affordable Care Act a Represents a Tax July 06, 2012
When the Patient Protection and Affordable Care Act (PPACA) was passed in 2010, challenges to its constitutionality began wending their way through the courts almost immediately. It wasn’t a surprise when the United States Supreme Court announced that it would take the case since the PPACA was such a hot-button issue.
What If Someone is Claiming Tax Credits In Your Name? June 04, 2012
Unfortunately, there are quite a lot of people in the world who try to use identity fraud to get what belongs to someone else. One of the ways that identity thieves can try to get their hands on what belongs to you is by filing a tax return using your Social Security number. If you are eligible for certain credits that result in a refund, a fraudster can file a return – and possibly get your money. Additionally, the situation might result in a failure to file fee, thanks to difficulties getting the information submitted.