It is almost tax time and more people are opting to file their taxes online as opposed to using an accountant. The market for online tax filing programs continues to grow since Turbo Tax launched their program.

Mobile devices are now now introducing apps to help you with the preparation of your 2011 taxes. Currently, only the 1040EZ form can be filed using the iPhone or Android via the Turbo Tax and H&R Block apps.  Complete Tax hopes to launch by the end of January and TaxAct has now made itself available on the iPad.  Just scan your W-2 into … Read more at 2011 Tax.

Poor Kansans would be affected most by the Brownback tax plan

Sam Brownback, Kansas Governor, came up with this new tax plan with the aim of overhauling the Kansas tax code.

Under the new tax plan, taxpayers who earn less than 25,000 dollars per year will be required to pay 156 dollars more in income taxes. In contrast, more than 21,000 taxpayers who make more than 250,000 annually will get an average reduction of around 5,200 dollars in income taxes.

On average, 185,692 taxpayers who earn between 50,000 dollars and 75 dollars will pay 282.90 dollars less in the … Read more at 2011 Tax.

Governor Chris Christie took his message to voters of New Jersey during a town hall meeting on January 18, 2012. He hit the airwaves in many media appearances. The first-term Republican governor of the Garden State attempted to sell his 10 percent income tax cuts for all. One day after his state of the state address, he informed crowds that he is the architect of New Jersey’s economic comeback.

With a boldness that only success can give, Christie presented the plan as a model for national economic policy too. Of course, this continues to feed into the speculation that he … Read more at 2011 Tax.

Rick Santorum 2012 taxes and tax plan offers big savings for the wealthy and large corporations, while increasing the deficit. His plan substantially  cuts taxes, but the raise in the deficit counteracts any short term benefit to the American people.

The Santorum tax cuts would give the upper one percent the biggest tax cuts. Individuals who make between three-million to eight-million dollars would receive an average tax break of around one million dollars by 2015. The middle class who makes around fifty to seventy-thousand would receive around two-thousand dollars. The lower class making around twenty-thousand would get about thirty-nine dollars.… Read more at 2011 Tax.

Romney Has Big Stash in Cayman Islands

It might not be immediately obvious, but Mitt Romney has millions of his fortune in investments funds in the Cayman islands, an infamous tax refuge.

A representative for Romney says he obeys the law, and that he pays the normal taxes despite where his money is.

As Republican nominations get closer, Romney is finding it harder to keep the secrets about his wealth under wraps.

Jack Blum, a lawyer from Washington thinks Romeny’s financial situation is a disgrace to the United States tax system.

Romney recently let out that he has been paying … Read more at 2011 Tax.

Budget Cuts Make the I.R.S. Less Efficient, Report Claims

Reduced funding and an expanding mandate have left the Internal Revenue Service incapable of performing its primary duty of tax collection efficiently. This is according to a report released by the agency’s Internal Monitor on Wednesday.

The backlog of cases and job cuts has made the agency less capable of collecting hundreds of billions of dollars in taxes every year. This is what the national taxpayer advocate, Nina E. Olson claims in her annual report to Congress.

The agency is now using computer software to ask taxpayers to file their returns … Read more at 2011 Tax.

We have made it to our next tax season!  While your taxes are not due for several weeks still, this is the month that you will be receiving the documents you need to turn in: all of your W-2s, any 1099s you may have received for investments, and so on.  If you do not have a system in place to take care of your 2011 tax filing, now is the time.

Thanks to April 15 being on a weekend this year, taxes are not due until April 17 this year.  If you cannot get your taxes filed by that … Read more at 2011 Tax.

TaxACT(R) Offers Taxpayers Affordable and Easy Tax Filing Solutions With Fast Refunds
TaxACT 2011 Enables Users to Maximize Their Tax Savings Within a Short Time

The latest version of TaxACT 2011 which is also the Final Version has just been released by 2nd Story Sofware(R).

Lance Dunn, the CEO of the company claims that the new version makes is easy for taxpayers to file their returns and get refunds. Using software to file returns is much cheaper than opting for storefront operations.

With the Deluxe, State and Federal editions of the TaxACT software for iPads, taxpayers can now e-file … Read more at 2011 Tax.

The law requires you to complete a tax return when you have income above a designated amount.  The amount varies according to your age, filing status and income type.  However, even if you are not required to file, you might benefit as you could get a refund if taxes were withheld or you qualify of certain refundable credits.

The IRS website is a helpful resource to see if you should file.  The Interactive Tax Assistant on the site can lead you through a several questions to see if you should file.  Other information is found on printed tax forms.

Six … Read more at 2011 Tax.

Welcome to the December 6, 2011 edition of Tax Carnival Ecstasy. In this edition we have a couple great stories including Beth Montgomery looking at Saving for Retirement and Kristine McKinley who expects Congress to Extend the Payroll Tax Holiday into 2012. Hope you enjoy all the articles, bookmark, share, tweet, like on Facebook and come back soon.

Ralph Ferro presents American Airlines Parent Company Files for Chapter 11 Bankruptcy posted at Bankruptcy Attorney NJ RSS Feed, saying, “Another day and another bankruptcy; this time financial troubles fly high as AMR Corporation (parent company to American Airlines) files for … Read more at 2011 Tax.