Category Archives: Individual

Alternative Motor Vehicle Credit

Posted on May 8, 2009 by Camron Hoorfar

Looking to buy a hybrid car?  Besides the great gas mileage and the benefits to the environment, there is one more benefit that you might have been unaware of:  a tax credit! The Energy Policy Act of 2005 replaced the … Continue reading →

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Recovery Rebate Credit

Posted on May 8, 2009 by Camron Hoorfar

Worried because you did not receive your economic stimulus payment last year?  Don’t worry, you still have time to get it. The recovery rebate credit is a one-time benefit for people who didn’t receive the full economic stimulus payment last … Continue reading →

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What sort of penalties does the IRS have?

Posted on May 7, 2009 by Camron Hoorfar

Besides criminal penalties (discussed in an earlier post), the IRS also has the power to issue and assess civil penalties on taxpayers for various reasons.  The following is a list of the most common and most used civil penalties by … Continue reading →

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529 Tuition Programs

Posted on May 6, 2009 by Camron Hoorfar

Unknown to most people, a qualified Section 529 tuition program (better known as 529 Plans) is a type of tax exempt organization.  A Section 529 plan provides prepaid tuition or a method of an education savings program to provide pre-tax … Continue reading →

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Can avoiding the IRS land me in prison?

Posted on May 5, 2009 by Camron Hoorfar

Many taxpayers refuse to believe that the IRS does not have the power to send taxpayers to jail for violating the United States’ tax laws.  Nothing could be further from the truth. The following is a list of criminal actions … Continue reading →

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Individual Overview of the American Recovery and Reinvestment Act of 2009

Posted on May 1, 2009 by Camron Hoorfar

The American Recovery and Reinvestment Act of 2009, also known as the ARRA, was signed into law on February 17, 2009 and contains tax relief and other benefits for individuals as well as businesses. The following provisions of the ARRA … Continue reading →

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Payment Options

Posted on April 30, 2009 by Camron Hoorfar

For some people, getting a tax refund is nothing more than a passing dream.  For these same people, paying the full amount of the taxes owed in a timely manner is much more easily said than done.  But never fear, … Continue reading →

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E-filing at a Record High

Posted on April 30, 2009 by Camron Hoorfar

For the 2008 tax year (filed by April 15, 2009), over 90 million taxpayers filed their tax returns by e-filing.  This amount is higher than last year’s by approximately 6%. This record high amount could be due to ever-increasing tech-savy … Continue reading →

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