How to Know Your Filing Status ?

Filing of tax return under US tax law requires that you first ascertain your filing status. Under the Internal Revenue Code , there are five types of status under which you can file tax return. Filing status will actually determine what  tax rate or the the basic tax exemption or standard deductions and a whole lots […]

5 IRS Tax Tips for Persons Earning Tips Income!

Internal Revenue Code tax tips same way it treats any other income under the principle that all receipts are income unless clearly provided that an income is not taxable. Tips receipts by employee are taxable income under IRC . US tax law  requires that employers in certain sectors like food and restaurant , bars, casino […]

4 Extended Tax Breaks You Can Claim for Tax Year 2015

The tax breaks list always changes . So the tax year 2015 is no different . Here are four  tax breaks that are officially expired on December 31, 2014, , but the Congress extended for tax year 2015 . If you are eligible to claim the following four tax breaks and you thought that the tax year […]