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Hot Topics: Income Tax Preparation and Assistance on the Web

March's Hot Topics is dedicated to those who need help in the preparation of their 2000 federal and state income tax returns. 

Note :  Many tax forms and publications are available in Adobe's PDF format only. The freely available Adobe Acrobat Reader  is needed to read and print PDF files. This can pose a problem for Internet users who cannot download or view PDF files.  

Best Places to Start

American Bar Association - The ABA's Tax Section has compiled the most comprehensive links to tax resources on the web.  Start with this website for your tax research.

Findlaw - Another good source for tax links. 

Yahoo Finance - This is another comprehensive web page of tax-related information.

IRS Forms and Publications

IRS Guide for Small Business - IRS has provided a useful service for small businesses looking for forms or information.  It also contains extensive links to outside materials, including state tax forms, professionals and court cases.

    The IRS provides its forms and publications on-line. 

IRS forms

A compilation of IRS forms you'll need to file your taxes.

IRS Publications:

A comprehensive set of publications to answer  specific tax questions.  Check out the following publications ( Note: these publications contain hypertext links for easy navigation):

For individuals, IRS now has inter-activetax tables for taxable income under $100,000 and non-interactive tax rate schedulesfor incomes over $100,000.

Note: Starting January 15, 1999, taxpayers may pay the balance due by credit card.  Call 1-888-2PAY-TAX and arrange to pay your 1998 federal income taxes with either a MasterCard, Discover or American Express card.  Visa has not yet agreed to participate in this program.  Your credit card company will set the fees for this service.  The IRS receives the payment amount, but not the credit card number used.   This service is available regardless of whether electronic or paper returns are filed.

Starting February 28, 1999, taxpayers may use their computer to make a credit card payment on their 1998 taxes, although this pilot program is limited to "e-filers" using Intuit tax preparation software and a Discover card.

The IRS push for e-filing is pervasive.  Witness this inter-active program for young adults, jointly developed by IRS and the Tax Section of the American Bar Association.

State Forms and Publications

California Tax Forms: Go to the California Franchise Tax Board's website for the latest forms. The homepage has general information on tax filing and legislation.

Other State Tax Forms - Findlaw has links to state tax forms on the Web.

Tax Prophet

Also, be sure to review these Tax Prophet FAQ's before filing your returns:

April 11, 1999 - Paying Taxes Due; 6 Ways to Save During 1999.

March 28, 1999 - Eight Last-Minute Items to Consider When Filing Your Return

March 14, 1999 - Top 5 Tax Breaks for 1998

Hot Topics: March, 1999 - Twenty-One Items to Consider Before Filing Your 1998 Tax Return

Hot Topics: December, 1999 - Last Minute Tax Planning Suggestions.

Hot Topics: December, 2000 Year-End Tax Planning.

The Tax Prophet's Cybersurfing section contains the leading web gatewaysfor locating other tax-related web sites and tax information.  Use it as a tax research tool.

If you think you are immune from paying taxes or believe there is a simple fool-proof way to avoid  tax obligations, there are plenty of cyber-thieves eager to take your money and leave you in financial ruin.  Check out the Tax Prophet's Trust Scam Bulletin Boardbefore you become victimized.

For those who exercised employee stock options, check out the Tax Prophet's Section on Stock Options.

Tax Advice Websites

Bankrate.com - A comprehensive list of financial and tax information, including business caculators and up-to-the-minute tax and business news.

Deloitte and Touche - This Big 5 accounting firm provides business, tax and estate planning advice.

Check out Microsoft's entry into the tax arena - MSM Money Central

For U.S. taxpayers living abroad, check out the Expatriate InfoCenter for tax advice and filing requirements.

Quicken Tax financial center also has answers to common tax inquiries.

Need to value a charitable donation for clothing, furniture, sporting goods or other equipment?  Check out the Salvation Army's Valuation Guide. This guide is allegedly used by IRS to determine charitable donations.   Remember, for items worth $5,000 or more, you will need a formal written appraisal.

On-Line Tax Calculators

Quicken's On-Line Tax Estimator (javascript) is the best overall tax calculation program on the Web.

If you are looking for a suite of tax and financial calculators, the financial calculators at Moneyadvisor.com should fit the bill. 

To determine whether you may owe Alternative Minimum Tax, use Intuit's AMT Evaluator.

On-Line Tax Preparation and Filing

For $9.95, you can file your Federal income taxes using Turbo Tax Online or Tax Cut Online.

If you file a Form 1040EZ, you might be eligible to file your taxes using a touch-tone telephone.  For details, here is the IRS's webpage.

Professional Tax Assistance

If you are looking for tax professionals to prepare and file your tax return, contact the following organizations:

National Organization of Enrolled Agents- an excellent resource of competent and reasonably-priced tax preparers, especially for individuals and small businesses.  Enrolled agents also handle tax audits, appeals and collection matters.

American Institute of Certified Public Accountants- A listing of CPAs.  Suited for complicated individual returns and medium to large businesses.

Need to locate a tax preparer close to where you live or work? Use the Yahoo Yellow Pages to find one located near you. Looking for a list of tax preparers or tax information on the web? Yahoo is the place to start.

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