The Tax Preparation Blog

Question: Question about 8453-OL form?

for the part 2, 6c, which says;
I authorize the U.S. Treasury and its designated Financial Agent to initiate an ACH electronic funds withdrawal entry to the financial institution account indicated in the Tax Preparation Software for mayment of my federal taxes owed on this tax return and/or a payment of estimated tax. I further understand that this authorization may apply to future federal tax payments that I direct to be debited through the Electronic Federal Tax Payment System. In order for me to initiate future payments, I request that the IRS send me a personal identification number (PIN) to access EFTPS. This authorization is to remain in full force and effect until I notify the U.S. Treasury Financial Agent at 1-888-353-4537 no later than 2 business days prior to the payment (settlement) date. I also authorize the financial institutions involved in the processing of the electronic payment of taxes to receive confide~ bla bla bla….

Do I have to check the box??

Answer: yes,or you will not get your direct deposit,unless you want a check instead,then don’t check the box.

UCI fertility-fraud case doctor arrested in Mexico

U.S. officials are working to bring Dr. Ricardo Asch — a main player in the UC Irvine fertility fraud scandal — to the United States to face the criminal charges he skipped out on 13 years ago. Asch was arrested in Mexico City last month by Mexican…

Filelate review: best online Tax Preparation Software

Question: How much can I claim for CA Sales Tax on my Federal Tax Return?

As Married filing jointly living in CA.

I Itemized but I do not claim income tax in CA because I am in the military therefore I want to used the allowed sales tax deduction for 2009 but I do not know what the amount allowed.

Answer: Usually there is a table in the booklet that comes with the 1040 take a look in the back.

AP News in Brief

Ready for duty: Gays, lesbians who left military due to ‘don’t ask, don’t tell’ hope to return

Your Military Tax Return: We Make It Easy

AMR Corporation Reports Q4 2010 Net Loss of $97 Million, Compared to a Loss of $344 Million in Q4 2009

AMR Corporation, the parent company of American Airlines, Inc., today reported a net loss of $97 million, or $0.29 per share, for the fourth quarter of 2010. The fourth quarter 2010 results include the impact of approximately $28 million in a non-cash impairment charge to write down certain route authorities in Colombia as a result of a recent open skies agreement.

Ensuring the Best Returns on Investment while Ensuring Sustainability and Diversification

Question: Let me know how to calculate income tax for 2,32,000 for financial year 2007-2008? for a woman?

Answer: Click the following link:

http://finance.indiamart.com/taxation/income_tax/rates.html

How to Double Your Savings Rate in 2011

Get a head start with these expert financial tips, which can help you double or triple your personal savings rate.

Introduction to The Truth Behind The Income Tax

Ten Alps PLC – Interim Results

Ten Alps PLC – Interim Results

Do I Have to Pay Tax On Unfair Dismissal Compensation?