Tag: Federal

What Federal Licenses and Permits Does Your Business Need? #business #email


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If your business is involved in activities supervised and regulated by a federal agency – such as selling alcohol, firearms, commercial fishing, etc. – then you may need to obtain a federal license or permit. Here is a brief list of business activities that require these forms and information on how to apply.

If you import or transport animals, animal products, biologics, biotechnology or plants across state lines, you’ll need to apply for a permit from the U.S. Department of Agriculture (USDA).

If you manufacture, wholesale, import, or sell alcoholic beverages at a retail location, you will need to register your business and obtain certain federal permits (for tax purposes) with the U.S. Treasury’s Alcohol and Tobacco Tax and Trade Bureau (TTB). The website has a number of online tools that make this process straightforward. If you are just starting a business in this trade, start by reading the TTB’s New Visitors Guide which offers helpful information for small business owners.

Remember, you will also need to contact your local Alcohol Beverage Control Board for local alcohol business permit and licensing information.

Does your business involve the operation of aircraft; the transportation of goods or people via air; or aircraft maintenance? If so, you’ll need to apply for one or more of the following licenses and certificates from the Federal Aviation Administration:

Firearms, Ammunition and Explosives

Businesses who manufacture, deal and import firearms, ammunitions and explosives must comply with the Gun Control Act’s licensing requirements. The Act is administered by the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF). Refer to the following resources from the ATF to make sure your business is properly licensed:

If your business is engaged in any wildlife related activity, including the import/export of wildlife and derivative products, must obtain an appropriate permit from the U.S. Fish and Wildlife Service.

Commercial fishing businesses are required to obtain a license for fishing activities from the NOAA Fisheries Service. This guide includes quick links to permit applications and information.

If you provide ocean transportation or facilitate the shipment of cargo by sea, you’ll need to apply here for a license from the Federal Maritime Commission.

Mining and Drilling

Businesses involved in the drilling for natural gas, oil or other mineral resources on federal lands may be required to obtain a drilling permit from the Bureau of Ocean Energy Management, Regulation and Enforcement (formerly the Minerals Management Service).

Producers of commercial nuclear energy and fuel cycle facilities as well as businesses involved in the distribution and disposal of nuclear materials must apply for a license from the U.S. Nuclear Regulatory Commission

Radio and Television Broadcasting

If your business broadcasts information by radio, television, wire, satellite and cable, you may be required to obtain a license from The Federal Communications Commission (FCC).

Transportation and Logistics

If you operate an oversize or overweight vehicle, you’ll need to abide by the U.S. Department of Transportation offers guidelines on maximum weight. Permits for oversize / overweight vehicles are issued by your state government. Get contact information here .


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How to File Federal Income Taxes for Small Businesses – TurboTax Tax Tips &

#business tax

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How to File Federal Income Taxes for Small Businesses

Depending on your business type, there are different ways to prepare and file your taxes.

When it s time to file a federal income tax return for your small business, there are various ways you can do it, depending on whether you run the business as a sole proprietorship or use a legal entity such as an LLC or corporation.

Each type of entity requires a different tax form on which you report your business income and expenses. Regardless of the form you use, you generally calculate your taxable business income in similar ways.

TurboTax has two products to serve business owners – TurboTax Home Business is designed for sole proprietors and 1099 contractors, while TurboTax Business helps you prepare taxes for corporations, partnerships and LLCs.

Step 1 – Collect your records

Gather all business records. Before filling out any tax form to report your business income, you should have all records in front of you that report your business earnings and expenses.

If you use a computer program or a spreadsheet to organize and keep track of all transactions during the year, calculating your income and deductions is much easier than trying to remember every sale and expenditure that occurred during the year. TurboTax works with programs like QuickBooks and Quicken, so you can import information directly into your tax return.

Step 2 – Find the right form

Determine the correct IRS tax form. You always need to report your business earnings to the IRS and pay tax on them, but choosing the right form to report earnings on depends on how you operate your business.

Many small business owners use a sole proprietorship which allows them to report all of their business income and expenses on a Schedule C attachment to their personal income tax return. If you run the business as an LLC and you are the sole owner, the IRS also allows you to use the Schedule C attachment. However, if you use a corporation or elect to treat your LLC as one, then you must always prepare a separate corporate tax return on Form 1120.

When you use TurboTax Home Business (sole proprietors and contractors) or TurboTax Business (corporations, LLCs and partnerships), you just need to answer simple questions about your business income and expenses, and we ll fill in all the right forms for you.

Step 3 – Fill out your form

Fill out your Schedule C or Form 1120. If you will be reporting your business earnings on Schedule C, you can search the IRS website for a copy or use TurboTax to generate the form for you after you input all of your financial information.

Schedule C is a simple way for filing business taxes since it is only two pages long and lists all the expenses you can claim. When complete, you just subtract your expenses from your business earnings to arrive at you net profit or loss. You then transfer this number to your personal income tax form and include it with all other personal income tax items.

However, if you use a Form 1120, you calculate your taxable business income in the same way, but the form requires more details that may not always apply to a small business. The biggest disadvantage of filing a Form 1120 is that it is separate from your personal income tax return.

Step 4 – Pay attention to deadlines

Be aware of different filing deadlines. When you use a Schedule C, it becomes part of your Form 1040 and therefore, no separate filing deadlines apply. It is generally subject to the same April 15 deadline.

If you need to file a Form 1120, you must file it by the 15th day of the third month following the close of the tax year, which for most taxpayers is March 15. You cannot send this form to the IRS with your personal income tax return.

Remember, when you use TurboTax to prepare your taxes, we ll determine which forms you need and put the information in all the right places. All you need to do is answer simple, plain-English questions.

Business and personal
taxes in one

Just answer simple questions about your business and life, and TurboTax Home & Business takes care of the rest.

The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal, or other business and professional advice. Before taking any action, you should always seek the assistance of a professional who knows your particular situation for advice on taxes, your investments, the law, or any other business and professional matters that affect you and/or your business.

* Important Offer Details and Disclosures

  • Filing Deadline: IRS filing deadline for tax year 2015 is April 18, 2016 (except for residents of Massachusetts or Maine, where the IRS filing deadline for tax year 2015 is April 19, 2016).
  • Try for Free/Pay When You File: TurboTax online and mobile pricing is based on your tax situation and varies by product. Free 1040EZ/A + Free State offer only available with TurboTax Federal Free Edition; Offer may change or end at any time without notice. Actual prices are determined at the time of print or e-file and are subject to change without notice. Savings and price comparisons based on anticipated price increase expected 3/18/16. Special discount offers may not be valid for mobile in-app purchases.
  • TurboTax CD/Download products: Price includes tax preparation and printing of federal tax returns and free federal e-file of up to 5 federal tax returns. Additional fees apply for efiling state returns. E-file fees do not apply to New York state returns. Savings and price comparison based on anticipated price increase expected 3/18/16. Prices subject to change without notice.
  • Anytime, anywhere: Internet access required; standard message and data rates apply to download and use mobile app.
  • Fastest refund possible: Fastest tax refund with efile and direct deposit; tax refund timeframes will vary.
  • Pay for TurboTax out of your federal refund: A $X.XX Refund Processing Service fee applies to this payment method. Prices are subject to change without notice. This benefit is available with TurboTax Federal products except the TurboTax Home Business/QuickBooks Self-Employed bundle offers.
  • About our TurboTax Product Experts: Customer service and product support vary by time of year.
  • About our credentialed tax experts: Live tax advice service is available via phone for your toughest tax questions; fees may apply. Service, experience levels, hours of operation and availability vary, and are subject to restriction and change without notice. Not available for TurboTax Business customers.
  • #1 best-selling tax software: Based on aggregated sales data for all tax year 2014 TurboTax products.
  • Most Popular: TurboTax Deluxe is our most popular product among TurboTax Online users with more complex tax situations.
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Most long-term insurance care enrollees are eligible for little-known benefit – The Washington Post

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Most long-term insurance care enrollees are eligible for little-known benefit

Three-fifths of enrollees in the Federal Long Term Care Insurance Program who are facing steep premium increases will be eligible to invoke a little-known feature of the program that will allow them to stop paying premiums but still keep some coverage, the Office of Personnel Management has said.

The paid-up provision allows enrollees whose premium is increased beyond a certain percentage to stop paying premiums, with benefits then reduced. The triggering percentages vary according to the age at enrollment and take into account all increases since that time; FLTCIP rates also increased for many enrollees in early 2010.

The OPM announced last week that premiums will increase on average by 83 percent in November for all but about 10,000 of the 274,000 people in the program, which is open to active and retired federal employees and military personnel and certain family members.

Enrollees pay the entire premium, with no government contribution, for insurance that covers at-home, nursing home and other types of care for those who need help with activities of daily living such as bathing or dressing, or who have certain cognitive impairments.

Rates vary according to the age at enrollment and choices including daily benefit amounts, length of policy and inflation protection. The increases come with the award of a new seven-year contract with the provider, John Hancock Life and Health Insurance Co. and are based on projections that the current premiums would not cover future payouts.

Affected enrollees are being notified that during an “enrollee decision period” through September, they can accept the increase; reduce benefits to keep their premiums the same; choose a middle course; or, if eligible, elect a paid-up benefit (enrollees also can cancel their policies at any time, although they would lose eligibility for future benefits).

In response to a query, OPM said that about 60 percent of those facing a premium increase are being told in their notice letters that they are eligible for the paid-up benefit, formally known as a “contingent benefit upon lapse.”

“By choosing this option, the enrollee will keep their current daily benefit amount, but their maximum lifetime benefit will be reduced to total premiums paid through November 1, 2016, or 30 times the current daily benefit amount of the coverage, whichever is greater,” OPM said.

“By exercising the contingent benefit upon lapse, the enrollee could significantly reduce the benefits of their coverage, so it is important to give this option careful consideration before selecting it. We encourage the enrollee to discuss their options with a financial advisor on the potential implications of changing their long term care insurance coverage,” it said.

The paid-up option could prove to be attractive for some enrollees in the face of the increase, compared with their other choices.

“One of things we’re finding throughout this notification process is that people, in addition to being justifiably angry, really don’t understand what their options are. They are confused and unsure of what to do next,” Jessica Klement, legislative director of the National Active and Retired Federal Employees Association, said in an email.

“If the enrollee wants to cut and run, which may be the only viable financial option, there would still be money that can help pay for long term care costs in the enrollee’s maximum lifetime benefit account. Hopefully, those eligible individuals, and all of those affected, will take the time to call the program and have the option explained,” she said.

OPM also provided a fuller explanation for its decision to create what will be a two-level premium structure. Premiums are not increasing for those who newly enrolled after July 31, 2015, or who will enroll in the future. Premiums had increased for new enrolments after that date by 30 percent on average over the rates applying to those who had enrolled up to then.

However, those who enrolled before that date are now facing a much larger average increase starting in November, under last week’s announcement.

Said OPM: “The premium increase needed for the inforce (enrollee) population is significantly more than what is needed for new enrollees because the inforce population is starting from a significant deficit position, whereas new business starts from a clean slate with no deficit to make up for. The significant deficit for the inforce population is due to their having paid lower than necessary premiums for up to 14 years.”

“Even with the increase that current enrollees are facing, FLTCIP pricing remains competitive,” in the long-term care insurance market, it said.

In addition to those enrolling starting last August, the premium increases won’t apply to those who were age 79 or older when they enrolled, those who are under an alternative plan that covers only nursing home care, and those currently drawing benefits or awaiting a decision on a claim.


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Federal criminal defense attorneys #federal #criminal #defense #attorneys


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Criminal Defense Lawyer Fort Lauderdale

Omar Johansson is a leading Fort Lauderdale criminal defense lawyer. He defends criminal charges in federal and state courts at both the trial and appellate levels. He has earned the reputation of defending the toughest cases and winning exceptional results.

The government’s version of events is rarely in your favor. You need a lawyer willing to investigate the true facts of your case. Omar Johansson knows the law and will apply your true facts to the law which will produce results. A detail oriented Fort Lauderdale criminal defense lawyer, Omar Johansson promises you the relentless pursuit of your criminal defense so he can win with exceptional results. We have lawyers that work with clients in all criminal defense matters. If you are looking for a Fort Lauderdale criminal attorney, Fort Lauderdale federal criminal lawyer, Fort Lauderdale criminal defense attorney, criminal defense attorney Fort Lauderdale, Fort Lauderdale criminal defense lawyer, criminal defense lawyer Fort Lauderdale, or Fort Lauderdale federal criminal attorney, then please contact our office for a free consultation.

Omar Johansson has developed a speciality defending sex crime cases.

A person accused of a federal charges has the right to a Jury by Trial and the Right to Confront his Accusers.

Drug charges cover a broad range of offenses, from the less severe

Omar Johansson has developed a speciality defending Violent crime cases.

Omar Johansson has developed a speciality defending White Collar Crime and Fraud Cases.

A person accused of a state charges has the right to a Jury by Trial and the Right to Confront his Accusers.


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Mississippi Bids # #mississippi #bids, #mississippi #government #bids, #mississippi #federal #bids, #mississippi #state #bids,

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Win government bids in and around the state of Mississippi. Government Bids and Contracts Services maintains a comprehensive listing of government bids and RFP (request for proposal) and other government bidding opportunities in the state of Mississippi (MS). Solicitations in Mississippi (MS) listed below are published by all levels of governments, including federal government, Mississippi (MS) state government, county government, city government, municipal government, local government, community government, government agency buyers, and various regional government authorities in Mississippi (MS). Government bids published by states around Mississippi (MS) are included as well.

The Mississippi (MS) government bid site is used by both prime contractors and subcontractors to monitor government bids in Mississippi (MS). The database for government procurement and solicitation opportunities in Mississippi (MS) is fully searchable. Many government bids and RFP solicited by government agencies in Mississippi (MS) are suitable for small businesses, minority owned business (minority business enterprises or MBE) and woman owned business (WOB).

Sample List of Government Bids and RFP in Mississippi (MS):

Bids and RFP Title


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What did the American Taxpayer Relief Act of 2012 do? #federal #budget #and #economy,,

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Some Background

Numerous tax cuts enacted between 2001 and 2010 were scheduled to expire after 2012, part of the “fiscal cliff” that threatened to cut short nascent recovery from the Great Recession. The expirations involved four tax acts[1] :

  • Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) phased in tax cuts for most taxpayers, but scheduled all of the cuts to expire after 2010 to avoid conflict with Senate rules (Joint Committee on Taxation 2001).
  • Jobs and Growth Tax Relief Reconciliation Act of 2003 accelerated the phase-in of some of EGTRRA’s provisions, but retained their expiration dates (Joint Committee on Taxation 2003).
  • American Recovery and Reinvestment Tax Act of 2009 (Division B, Title I of the American Recovery and Reinvestment Act, or ARRA) provided a number of temporary tax cuts designed to stimulate the economy, all of which were to sunset by the end of 2010 (Altshuler et al. 2009).
  • The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 extended most provisions of those three acts through 2012 (Urban-Brookings Tax Policy Center 2010).

The Tax Policy Center’s analysis of the scheduled expirations found that failure to extend them would have raised taxes by more than $500 billion in 2013—an average of almost $3,500 per household. Roughly 90 percent of Americans would have seen their tax bills rise (Williams et al. 2012).

Congress passed the American Taxpayer Relief Act of 2012 (ATRA) early on January 1, 2013, to prevent most of the sun-setting tax cuts from expiring. Most 2001 and 2003 income tax cuts were made permanent for all but the highest-income taxpayers. Three ARRA provisions were extended through 2017, while permanent changes to the estate tax and the alternative minimum tax reduced the number of people affected and indexed those provisions for inflation.

Tax Provisions Made Permanent

Income Tax Provisions
  • Tax Rates: Maintains the basic marginal tax rate structure of 10, 15, 25, 28, 33, and 35 percent for taxable income under $400,000 ($450,000 for married taxpayers filing jointly); the thresholds are indexed for inflation after 2013. Taxpayers with taxable income above the thresholds face a 39.6 percent marginal tax rate.
  • Pease and PEP: The limitation on itemized deductions (Pease) and the personal exemption phaseout (PEP) applies only to taxpayers with adjusted gross incomes of $250,000 or more ($300,000 for married taxpayers filing jointly); the thresholds are indexed for inflation after 2013.
  • Child Credits: The child tax credit (CTC) equals $1,000 per child and is refundable up to 15 percent of earnings above $10,000 (indexed for inflation after 2001). Another ATRA provision temporarily reduced the refundability threshold to $3,000. The child and dependent tax care credit rate begins at 35 percent on eligible expenses up to $3,000 per child (to a maximum of $6,000) and phases down to 20 percent between AGIs of $15,000 and $43,000.
  • Marriage Penalty: The standard deduction and the 10 percent and 15 percent brackets for joint filers equal twice those for single filers.[2]
  • Education Tax: Maintains higher annual contribution limits for Coverdell education savings accounts and higher phaseout ranges for the student loan interest deduction.
  • Capital Gains and Dividends: Retains 15 percent tax rates on long-term capital gains and qualified dividends (0 percent for those who would otherwise be in the bottom two tax brackets) for taxpayers in all but the top income tax bracket; sets a 20 percent rate for those in the top bracket.
  • Alternative Minimum Tax (AMT): Sets the 2012 AMT exemption at $50,600 ($78,750 for married taxpayers filing jointly) and indexes the exemption amount, the exemption phaseout threshold, and the future tax brackets for inflation.
Estate and Gift Taxes

ATRA sets a $5 million effective estate and gift tax exemption (indexed for inflation from 2011) and a top estate tax rate of 40 percent. A surviving spouse may claim any exemption not previously used by the deceased, a feature termed “portability.”

Extension of Temporary Tax Provisions

Tax Extenders

Congress regularly renews a few dozen temporary tax provisions, known as extenders, for one or two years at a time. ATRA extended that group of tax provisions through 2013. Most extenders had expired at the beginning of 2012; their ATRA extensions were retroactive, making them effective for 2012.

Extension through 2017 of Certain 2009 Tax Cuts
  • The American opportunity tax credit, which replaced the HOPE education credit in 2009.
  • The CTC is refundable up to 15 percent of earnings above $3,000 (not indexed for inflation), which is reduced from earnings above $10,000 (indexed for inflation from 2001).
  • The earned income tax credit threshold for couples filing jointly is set at $5,000 (indexed from 2008) above the phaseout for single filers. The phase-in rate for families with three or more children is raised to 45 percent.

[1] Another tax law, the Temporary Payroll Tax Cut Continuation Act of 2011, extended through 2012 a cut in employees’ share of the payroll tax funding Social Security, from 6.2 percent to 4.2 percent. ATRA did not extend that provision.

[2] ATRA also temporarily extended the higher earned income tax credit phaseout threshold for joint filers.

Rosanne Altshuler, Leonard E. Burman, Howard Gleckman, Dan Halperin, Benjamin H. Harris, Elaine Maag, Kim Rueben, Eric Toder, and Roberton Williams. 2009. “Tax Stimulus Report Card: Conference Bill.” Washington, DC: Urban-Brookings Tax Policy Center.American Recovery and Reinvestment Tax Act of 2009. Pub. L. No. 111-5, 123 Stat. 306 (2009).

Urban-Brookings Tax Policy Center. “Tax Policy Center Analysis of the American Taxpayer Relief Act (ATRA)” (especially distribution and marginal tax rate tables). Accessed October 27, 2015.

Williams, Roberton, Eric Toder, Donald Marron, and Hang Nguyen. 2012. “Toppling Off the Fiscal Cliff: Whose Taxes Rise and How Much?” Washington, DC: Urban-Brookings Tax Policy Center.


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Home – Federal Business Opportunities: Home #ideas #for #a #business


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Accessibility Information

Search more than 38,000* federal opportunities.

SAM.gov REGISTRATION IS FREE: There is NO FEE to register, or maintain your registration, in the System for Award Management (SAM.gov). If you receive an email from a company claiming to represent SAM.gov, be cautious. If you get an e-mail from a company offering to help you register in SAM.gov asking you to contact them and pay them money, be cautious. These messages are not from the Federal Government. It is FREE TO REGISTER in SAM.gov for any entity.

ATTENTION: Agency users are responsible for properly uploading controlled, unclassified materials to FBO using the access control procedures for document packages and attachments detailed in the FBO Buyers Guide. Do not upload ANY classified materials to FBO.

Important Password Update – Users and Interfacing Systems must reset their passwords as required every 90 days or the account will be disabled IAW GSA IT Security Policy, (CIO P 2100.1). Registered users will receive an email notification to remind them of this requirement. If your account has been disabled, contact the Federal Service Desk at 866-606-8220 (Monday – Friday 8 a.m. to 8 p.m. ET).

NOTE: If your account was re-enabled after contacting the FSD, you must reset your password before midnight on the day of the call to prevent it from being disabled once again.

Buyers / Engineers

Government users may post, manage, and award opportunities.


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How to File Federal Income Taxes for Small Businesses – TurboTax Tax Tips &

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How to File Federal Income Taxes for Small Businesses

Depending on your business type, there are different ways to prepare and file your taxes.

When it s time to file a federal income tax return for your small business, there are various ways you can do it, depending on whether you run the business as a sole proprietorship or use a legal entity such as an LLC or corporation.

Each type of entity requires a different tax form on which you report your business income and expenses. Regardless of the form you use, you generally calculate your taxable business income in similar ways.

TurboTax has two products to serve business owners – TurboTax Home Business is designed for sole proprietors and 1099 contractors, while TurboTax Business helps you prepare taxes for corporations, partnerships and LLCs.

Step 1 – Collect your records

Gather all business records. Before filling out any tax form to report your business income, you should have all records in front of you that report your business earnings and expenses.

If you use a computer program or a spreadsheet to organize and keep track of all transactions during the year, calculating your income and deductions is much easier than trying to remember every sale and expenditure that occurred during the year. TurboTax works with programs like QuickBooks and Quicken, so you can import information directly into your tax return.

Step 2 – Find the right form

Determine the correct IRS tax form. You always need to report your business earnings to the IRS and pay tax on them, but choosing the right form to report earnings on depends on how you operate your business.

Many small business owners use a sole proprietorship which allows them to report all of their business income and expenses on a Schedule C attachment to their personal income tax return. If you run the business as an LLC and you are the sole owner, the IRS also allows you to use the Schedule C attachment. However, if you use a corporation or elect to treat your LLC as one, then you must always prepare a separate corporate tax return on Form 1120.

When you use TurboTax Home Business (sole proprietors and contractors) or TurboTax Business (corporations, LLCs and partnerships), you just need to answer simple questions about your business income and expenses, and we ll fill in all the right forms for you.

Step 3 – Fill out your form

Fill out your Schedule C or Form 1120. If you will be reporting your business earnings on Schedule C, you can search the IRS website for a copy or use TurboTax to generate the form for you after you input all of your financial information.

Schedule C is a simple way for filing business taxes since it is only two pages long and lists all the expenses you can claim. When complete, you just subtract your expenses from your business earnings to arrive at you net profit or loss. You then transfer this number to your personal income tax form and include it with all other personal income tax items.

However, if you use a Form 1120, you calculate your taxable business income in the same way, but the form requires more details that may not always apply to a small business. The biggest disadvantage of filing a Form 1120 is that it is separate from your personal income tax return.

Step 4 – Pay attention to deadlines

Be aware of different filing deadlines. When you use a Schedule C, it becomes part of your Form 1040 and therefore, no separate filing deadlines apply. It is generally subject to the same April 15 deadline.

If you need to file a Form 1120, you must file it by the 15th day of the third month following the close of the tax year, which for most taxpayers is March 15. You cannot send this form to the IRS with your personal income tax return.

Remember, when you use TurboTax to prepare your taxes, we ll determine which forms you need and put the information in all the right places. All you need to do is answer simple, plain-English questions.

Business and personal
taxes in one

Just answer simple questions about your business and life, and TurboTax Home & Business takes care of the rest.

The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal, or other business and professional advice. Before taking any action, you should always seek the assistance of a professional who knows your particular situation for advice on taxes, your investments, the law, or any other business and professional matters that affect you and/or your business.

* Important Offer Details and Disclosures

  • Filing Deadline: IRS filing deadline for tax year 2015 is April 18, 2016 (except for residents of Massachusetts or Maine, where the IRS filing deadline for tax year 2015 is April 19, 2016).
  • Try for Free/Pay When You File: TurboTax online and mobile pricing is based on your tax situation and varies by product. Free 1040EZ/A + Free State offer only available with TurboTax Federal Free Edition; Offer may change or end at any time without notice. Actual prices are determined at the time of print or e-file and are subject to change without notice. Savings and price comparisons based on anticipated price increase expected 3/18/16. Special discount offers may not be valid for mobile in-app purchases.
  • TurboTax CD/Download products: Price includes tax preparation and printing of federal tax returns and free federal e-file of up to 5 federal tax returns. Additional fees apply for efiling state returns. E-file fees do not apply to New York state returns. Savings and price comparison based on anticipated price increase expected 3/18/16. Prices subject to change without notice.
  • Anytime, anywhere: Internet access required; standard message and data rates apply to download and use mobile app.
  • Fastest refund possible: Fastest tax refund with efile and direct deposit; tax refund timeframes will vary.
  • Pay for TurboTax out of your federal refund: A $X.XX Refund Processing Service fee applies to this payment method. Prices are subject to change without notice. This benefit is available with TurboTax Federal products except the TurboTax Home Business/QuickBooks Self-Employed bundle offers.
  • About our TurboTax Product Experts: Customer service and product support vary by time of year.
  • About our credentialed tax experts: Live tax advice service is available via phone for your toughest tax questions; fees may apply. Service, experience levels, hours of operation and availability vary, and are subject to restriction and change without notice. Not available for TurboTax Business customers.
  • #1 best-selling tax software: Based on aggregated sales data for all tax year 2014 TurboTax products.
  • Most Popular: TurboTax Deluxe is our most popular product among TurboTax Online users with more complex tax situations.
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Federal Tax Laws #taxes #law, #federal #tax #laws


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Federal Tax Laws

Although federal tax returns get most of the attention, they only tell half the story. Your state tax returns are equally important and typically need to be filed around the same time as your federal taxes. While many state tax codes mirror the federal code, there are often key differences between each state which are important to know before you start the tax process. Below, you will find state-specific tax information and related resources — including state tax forms and links to tax laws in all 50 states and D.C. If you have questions about your federal taxes, head over to FindLaw’s section on federal tax laws.

Tax Basics: A Beginners Guide to Taxes

Congress writes the Internal Revenue Code (IRC), also called the tax code, which directs the collection of taxes, the enforcement of tax rules, and the issuance of tax refunds. The Internal Revenue Service (IRS) is the government agency within the U.S. Department of Treasury that carries out these functions. The IRS interprets the tax laws through their regulations, which provide guidance about how tax laws are applied. The IRS also uses revenue rulings, procedures, and letter rulings to offer guidance. Although the IRS can offer its interpretations the federal courts have the final judgment on the interpretation of the tax code regardless of the IRS’s position.

The income, payroll, sales, and real estate taxes from individuals and companies are disbursed by the federal government, according to its budget, to finance programs such as national defense, Social Security, education, national parks, and services such as welfare.

Two types of income are subject to taxation; earned and unearned income. Earned income includes salaries, wages, tips, commissions, bonuses, unemployment benefits, sick pay, and some noncash benefits. Unearned income includes interest, dividends, profits from the sale of assets, business and farm income, rents, royalties, gambling winnings, and alimony. Contributions to a retirement account such as a 401(k) or IRA may reduce a taxpayer’s taxable income.

Which Tax Form Should I Use?

Individual taxpayers must use one of three forms to file your return: Form 1040EZ, Form 1040A, or Form 1040. Form 1040EZ is the simplest form to use. In order to use Form 1040EZ the taxpayer must meet all of the following requirements:

  • must be filing as single or married filing jointly;
  • must be under 65 and not blind;
  • must not be claiming dependents;
  • must be claiming less than $100,000 in taxable income;
  • must be claiming income only from wages, salaries, tips, and a limited number of other kinds of income;
  • must not receive any advanced earned income credit payments;
  • must not claim any adjustments to income such as IRA and student loan interest deductions;
  • must not claim any credits other than earned income credit;
  • must not owe any household employment taxes on wages paid to a household employee.

If you do not qualify to use Form1040EZ you may be able to use Form1040A. This form has many of the same restrictions, though it permits a wider array of tax credits. Form1040 is available to report all types of income, deductions, and credits. Form1040 also permits itemized deduction, some adjustments to income, and credits that may be unavailable on Form1040EZ and Form1040A.

Learn About Federal Tax Laws

This is a good place to start if you are new to paying federal incomes taxes, with explanations of taxable income, how the government collects taxes, and how they’re used.

Complete text of Title 26, also known as the U.S. tax code, searchable by chapter and available as a compressed download (U.S. House of Representatives).

This page compiles the most frequently requested IRS tax forms and instructions, including forms for itemized deductions and an application for a tax filing extension.

Handy resource to help you find the right IRS form or publication to suit your needs, including frequently requested forms and a search-by-topic function for IRS publications.

Helpful list of the criteria and requirements for each of the main federal income tax forms, such as 1040A and 1040EZ, to help you make the right decision before filing.

This set of regulations provides the official interpretation of the Internal Revenue Code; includes proposed regulations that are still open to public debate and questions.


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