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Taxes For Dummies: 2022 Edition [Minkštas viršelis]

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  • Formatas: Paperback / softback, 656 pages, aukštis x plotis x storis: 254x203x41 mm, weight: 1021 g
  • Išleidimo metai: 28-Feb-2022
  • Leidėjas: For Dummies
  • ISBN-10: 1119858453
  • ISBN-13: 9781119858454
Kitos knygos pagal šią temą:
Taxes For Dummies: 2022 EditionDidesnis paveikslėlis
  • Formatas: Paperback / softback, 656 pages, aukštis x plotis x storis: 254x203x41 mm, weight: 1021 g
  • Išleidimo metai: 28-Feb-2022
  • Leidėjas: For Dummies
  • ISBN-10: 1119858453
  • ISBN-13: 9781119858454
Kitos knygos pagal šią temą:
Pastovi nuoroda: https://www.kriso.lt/db/9781119858454.html
Raktažodžiai:
Take the anxiety out of tax season and file your return with confidence

In Taxes For Dummies, 2022 Edition, you'll get line-by-line advice and plan ahead strategies that take the fear and anxiety out of tax season and save you money now and in the months and years ahead. This completely updated edition includes detailed coverage of the numerous tax bills have passed in recent years. You'll learn everything you need to know to file your own taxes with confidence and intelligently plan year-round tax strategies.

In this book, you'll:

  • Discover how to take advantage of every deduction and tax credit that applies to your specific circumstances
  • Learn to navigate the IRS website and the newest versions of the most popular online tax preparation and filing options
  • Understand new retirement account options and the implications of new foreign taxation rules
  • Plan ongoing, multi-year tax strategies that will help you achieve your financial goals at every stage of your life

Taxes For Dummies, 2022 Edition is the perfect resource for any United States taxpayer planning to file their own 2021 taxes. Whether you're a first-time taxpayer, an expat filing from outside the US, or a seasoned veteran of tax season looking for the latest deductions and strategies to reduce your tax bill, this book is a must-read resource that'll transform how you think about taxes.

Introduction 1(4)
About This Book
1(1)
Foolish Assumptions
2(1)
Icons Used in This Book
2(1)
Beyond the Book
3(1)
Where to Go from Here
3(2)
Part 1: Getting Ready To File 5(70)
Chapter 1 Understanding the U.S. Tax System
7(18)
Figuring Out the U.S. Tax System
8(3)
You can reduce your taxes
9(1)
Beyond April 15: What you don't know can cost you
10(1)
Understanding Your Income Tax Rates
11(9)
Adding up your total taxes
12(1)
Following your marginal income tax rate
12(8)
Noting the Forever Changing Tax Laws
20(5)
The Tax Cuts and Jobs Act of 2017
21(1)
The SECURE ACT of 2019
22(1)
Possible upcoming changes
22(3)
Chapter 2 Tax Return Preparation Options and Tools
25(12)
Going it Alone: Preparing Your Own Return
26(1)
Taking Advantage of IRS Publications
26(2)
Perusing Tax-Preparation and Advice Guides
28(1)
Using Software
28(1)
Accessing Internet Tax Resources
29(2)
Internal Revenue Service
29(1)
Research
30(1)
Tax preparation sites
31(1)
Hiring Help
31(4)
Deciding whether you really need a preparer
31(1)
Unenrolled preparers
32(1)
Enrolled agents (EAs)
32(1)
Certified public accountants (CPAs)
33(1)
Tax attorneys
34(1)
Finding Tax Preparers and Advisors
35(2)
Chapter 3 Getting and Staying Organized
37(12)
Maintaining the Burden of Proof
38(1)
Keeping Good Records
38(4)
Ensuring a complete and accurate tax return
38(2)
Setting up a record-keeping system
40(1)
Tracking tax information on your computer
41(1)
Deciding when to stash and when to trash
41(1)
Reconstructing Missing Tax Records
42(5)
Property received by inheritance or gift
42(3)
Securities received by inheritance or gift
45(1)
Improvements to a residence
45(1)
Casualty losses
46(1)
Business records
47(1)
Using duplicate account statements
47(1)
Understanding the Cohan Rule
47(2)
Chapter 4 What Kind of Taxpayer Are You?
49(26)
What Rendition of 1040 Shall We Play?
49(3)
Form 1040
49(2)
Form 1040-SR
51(1)
Form 1040-NR
51(1)
Choosing a Filing Status
52(14)
Single
52(1)
Married filing jointly
53(1)
Married filing separately
54(4)
Head of household
58(3)
Qualifying widow(er) with dependent child
61(1)
Counting your dependents
61(1)
Deciding who is your dependent
62(3)
Securing Social Security numbers for dependents
65(1)
Filing for Children and Other Dependents
66(1)
Defining Who Is a Qualifying Child
67(1)
Age test
67(1)
Relationship test
67(1)
Residency test
67(1)
Support test
68(1)
Filing a Return for a Deceased Taxpayer
68(1)
Must I File?
69(4)
When to file
71(1)
If you don't file
71(1)
Where to file
72(1)
How to file
72(1)
A Final Bit of Advice
73(2)
Part 2: Tackling The Main Forms 75(130)
Chapter 5 All The Form 10405: Income Stuff
77(36)
Starting at the Very Beginning: The Top of 1040
77(3)
Choosing your filing status
78(1)
Adding your name(s), address and Social Security number(s)
78(1)
Electing to give to the next presidential campaign
79(1)
Disclosing virtual currency transactions
79(1)
Calculating your standard deduction
79(1)
Listing your dependents
80(1)
Lines 1-9: Income
80(33)
Line 1: Wages, salaries, tips
81(1)
What those W-2 boxes mean
82(3)
Line 2a: Taxable interest income
85(1)
Line 2b: Tax-exempt interest
85(1)
Line 3a: Ordinary dividends income
86(1)
Line 3b: Qualified dividends
86(1)
Lines 4a and 4b: Total IRA distributions
87(3)
Distributions before 594z
90(1)
Transfers pursuant to divorce
91(1)
Inherited IRAs
92(1)
Determining who is an eligible designated beneficiary
93(1)
Designated beneficiaries and the ten-year rule under the SECURE Act of 2020
94(1)
Non-designated beneficiaries
95(1)
Withdrawal of nondeductible contributions
95(1)
Loss on an IRA
96(1)
Lines 5a and 5b: Total pensions and annuities
96(9)
Lines 6a and 6b: Social Security benefits
105(4)
Line 7: Capital gain (or loss)
109(1)
Line 8: Other income from Schedule 1, line 26
110(2)
Line 9: Your total income
112(1)
Chapter 6 Form 1040, Schedule 1, Part I: Additional Income
113(18)
Schedule 1, Part I, Line 1: Taxable Refunds, Credits, or Offsets
114(2)
Schedule 1, Part I, Lines 2a and 2b: Alimony Received (by You)
116(1)
Schedule 1, Part I, Line 3: Business Income (or Loss)
117(1)
Schedule 1, Part I, Line 4: Other Gains (or Losses)
118(1)
Schedule 1, Part I, Line 5: Rental Real Estate, Partnerships, and More
118(1)
Schedule 1, Part I, Line 6: Farm Income (or Loss)
118(1)
Schedule 1, Part I, Line 7: Unemployment Compensation
118(1)
Schedule 1, Part I, Line 8: Other Income
119(9)
Line 8a: Net operating losses (NOLs)
120(1)
Line 8b: Gambling income
121(1)
Line 8c: Cancellation of debt
121(1)
Line 8d: Foreign earned income and housing exclusion
122(1)
Line 8e: Taxable Health Savings Account distribution
123(1)
Line 8f: Alaska Permanent Fund dividends
123(1)
Line 8g: Jury duty pay
123(1)
Line 8h: Prizes and awards
124(1)
Line 8i: Activity not engaged in for profit income
124(1)
Line 8j: Stock options
124(1)
Line 8k: Income from the rental of personal property
125(1)
Line 8l: Olympic and Paralympic medals and USOC prize money
125(1)
Lines 8m and 8n: Section 951(a) inclusion and Section 951A(a) inclusion
126(1)
Line 8o: Section 461(I) excess business loss adjustment
126(1)
Line 8p: Taxable distributions from an ABLE account
126(1)
Line 8z: Other income
127(1)
Schedule 1, Part I, Line 9: Total Other Income
128(1)
Schedule 1, Part I, Line 10: Combine Lines 1 through 7 and 9
128(3)
Chapter 7 Form 1040, Schedule 1, Part II: Adjustments to Income Stuff
131(26)
Figuring Out Your Adjusted Gross Income (AGI)
132(24)
Line 11: Educator expenses
132(1)
Line 12: Certain business expenses of certain types of workers
133(1)
Line 13: Health Savings Account deduction (Form 8889)
134(1)
Line 14: Moving expenses for members of the Armed Forces (Form 3903)
135(1)
Line 15: One-half of self-employment tax
135(1)
Line 16: Self-employed SEP, SIMPLE, and qualified plans
136(3)
Line 17: Self-employed health insurance deduction
139(1)
Line 18: Penalty for early withdrawal of savings
139(1)
Lines 19a, b, and c: Alimony paid
139(3)
Line 20: Your and your spouse's IRA deduction
142(7)
Line 21: Student loan interest deduction
149(3)
Line 22: Reserved for future use
152(1)
Line 23: Archer MSA deduction
152(1)
Lines 24a - z: Other adjustments
152(4)
Other adjustments
156(1)
Form 1040, Line 11: Adjusted Gross Income
156(1)
Chapter 8 Form 1040, Schedule 2: Additional Taxes
157(16)
Schedule 2, Part I: Tax
158(5)
Line 1: Alternative Minimum Tax (Form 6251)
158(2)
Line 2: Excess advance premium tax repayment (Form 8962)
160(3)
Line 3: Add lines 1 and 2
163(1)
Schedule 2, Part II: Other Taxes
163(8)
Line 4: Self-employment tax (Schedule SE)
164(1)
Line 5: Unreported Social Security and Medicare tax on unreported tip income
165(1)
Line 6: Uncollected social security and Medicare tax on wages (Form 8919)
165(1)
Line 7: Total additional Social Security and Medicare tax
165(1)
Line 8: Additional tax on IRAs or other tax-favored accounts (Form 5329)
166(1)
Line 9: Household employment taxes (Schedule H)
166(1)
Line 10: Repayment of first-time homebuyer credit (Form 5405)
166(1)
Line 11: Additional Medicare Tax (Form 8959)
167(1)
Line 12: Net investment income tax (Form 8960)
167(1)
Line 13: Uncollected Social Security and Medicare or RRTA tax on tips
168(1)
Line 14: Interest on tax due on installment income from certain residential sales
168(1)
Line 15: Interest on the deferred tax on gain from certain installment sales
168(1)
Line 16: Recapture of low-income housing credit (Form 8611)
169(1)
Line 17: Other additional taxes
169(1)
Line 19: Excess advance child tax credit repayment (Form 8812)
169(1)
Line 20: Section 965 net tax liability installment from Form 965-A
170(1)
Bringing Us to Line 21
171(2)
Chapter 9 Form 1040, Schedule 3: Adding Up Your Credits and Payments
173(14)
Schedule 3, Part I: Nonrefundable Credits
174(8)
Line 1: Foreign tax credit (Form 1116)
174(2)
Line 2: Credit for child and dependent care expenses (Form 2441)
176(1)
Line 3: Education credits (Form 8863)
176(2)
Line 4: Retirement savings contribution credit (Form 8880)
178(1)
Line 5: Residential energy credits (Form 5695)
179(1)
Line 6: Other nonrefundable credits
180(1)
Lines 7 and 8: It's time to add!
181(1)
Schedule 3, Part II: Other Payments and Refundable Credits
182(5)
Line 9: Net premium tax credit (Form 8962).
182(1)
Line 10: Amount paid with request for extension to file (Form 4868)
183(1)
Line 11: Excess Social Security and RRTA tax withheld
184(1)
Line 12: Credit for Federal Tax Paid on Fuels (Form 4136)
184(1)
Line 13: Other payments or refundable credits
184(1)
Lines 14 and 15: And even more math
185(2)
Chapter 10 Finishing Up the 1040
187(18)
Arriving at Taxable Income
187(3)
Form 1040, line 10: Adjustments to income
187(1)
Form 1040, line 11: Arriving at adjusted gross income
188(1)
Form 1040, line 12a: Standard deduction or itemized deductions (Schedule A)
188(1)
Form 1040, line 12b: Charitable contributions for non-itemizers
189(1)
Form 1040, line 12c: Add lines 12a and 12b
189(1)
Form 1040, Line 13: Qualified business income deduction (Forms 8995 or 8995-A)
189(1)
Form 1040, line 14: Add lines 12c and 13
190(1)
Line 15: Taxable income
190(1)
Calculating Your Tax Liability
190(6)
Form 1040, line 16: Tax
190(5)
Form 1040, line 17: Amount from Schedule 2, line 3
195(1)
Form 1040, line 18: Add lines 16 and 17
195(1)
Form 1040, line 19: Nonrefundable child tax credit or credit for other dependents
195(1)
Line 20: Amount from Schedule 3, line 8
195(1)
Form 1040, line 21: Add lines 19 and 20
196(1)
Form 1040, line 22: Subtract line 21 from line 18
196(1)
Form 1040, line 23: Other taxes, including self-employment tax
196(1)
Form 1040, line 24: Add lines 22 and
23. This is your total tax.
196(1)
Calculating Your Payments and Refundable Credits
196(4)
Form 1040, line 25: Federal income tax withheld
196(1)
Form 1040, line 26: 2021 estimated tax payments and amount from 2020 return
197(1)
Form 1040, line 27a, 27b, and 27c: EIC and nontaxable combat pay election
198(1)
Form 1040, line 28: Refundable child tax credit or additional child tax credit
199(1)
Form 1040, line 29: American Opportunity Credit (Form 8863, line 8)
199(1)
Form 1040, line 30: Recovery rebate credit
199(1)
Form 1040, line 31: Amount from Schedule 3, line 15
199(1)
Form 1040, line 32: Total other payments and refundable credits
200(1)
Form 1040, line 33: Total payments
200(1)
Refund or Amount You Owe
200(3)
Form 1040, line 34: The amount that you overpaid
200(1)
Form 1040, lines 35a, b, c, and d: Amount that you want refunded to you
200(1)
Form 1040, line 36: Amount of line 34 you want applied to your 2022 estimated tax
201(1)
Form 1040, line 37: The AMOUNT YOU OWE line
201(1)
Line 36: Estimated tax penalty (Form 2210)
202(1)
Finishing Up
203(2)
Part 3: Filling Out Schedules And Other Forms 205(184)
Chapter 11 Itemized Deductions: Schedule A
207(38)
Claiming the Standard Deduction
208(4)
Older than 65 or blind
208(1)
Additional charitable deduction for standard deduction filers
208(2)
Standard deduction for dependents
210(2)
Locating Your Itemized Deductions
212(1)
Separate returns and limits on deductions
212(1)
But if you change your mind
213(1)
Lines 1-4: Medical and Dental Costs
213(8)
Medical and dental expense checklist
214(3)
Deductible travel costs
217(1)
Special medical expense situations
217(1)
Meals and lodging
218(1)
Insurance premiums
218(1)
Reimbursements and damages
219(1)
Special schooling
219(1)
Nursing home
220(1)
Improvements to your home
220(1)
Figuring your medical and dental deduction
220(1)
Lines 5-7: Taxes You Paid
221(4)
Line 5: State and local taxes
221(2)
When you buy or sell real estate
223(1)
The downside of property tax refunds and rebates
223(1)
Line 5c: Personal property taxes
224(1)
Line 5d: Add lines 5a through 5c
224(1)
Line 5e: Enter the smaller of line 5d or $10,000 ($5,000 if married filing separately
224(1)
Line 6: Other taxes (foreign income taxes)
225(1)
Line 7: Add lines 5e and 6
225(1)
Lines 8-10: Interest You Paid
225(6)
Lines 8a through 8e: Home mortgage interest and points
226(4)
Line 9: Investment interest
230(1)
Lines 11-14: Gifts to Charity
231(7)
Qualifying charities
231(2)
Nonqualifying charities
233(1)
Contributions of property
234(2)
Charitable deduction limits
236(2)
Line 15: Casualty and Theft Losses (Form 4684)
238(3)
Do you have a deductible loss?
240(1)
Figuring the loss
240(1)
Line 16: Other Itemized Deductions
241(1)
Line 17: Total Itemized Deductions
242(1)
Line 18: Check the Box
243(2)
Chapter 12 Interest and Dividend Income: Form 1040, Schedule B
245(18)
Part I, Lines 1-4: Interest Income
247(9)
Understanding Forms 1099-INT and 1099-01D
248(1)
Completing lines 1-4
249(6)
Interest-free loans
255(1)
Part II, Lines 5-6: Dividend Income
256(5)
Line 5: Name, payer, and amount
257(1)
Line 6: Total dividends
257(1)
Your 1099-DIV: Decoding those boxes
258(2)
Reduced tax rates on dividends
260(1)
Part III, Lines 7-8: Foreign Accounts and Trusts
261(2)
Chapter 13 Business Tax Schedules: C and F
263(40)
Schedule C
264(1)
Basic Information (A-E)
265(1)
Accounting Method Stuff (Boxes F-H)
265(2)
Information Returns (Boxes I and J)
267(1)
Part I, Lines 1-7: Income
267(3)
Line 1: Gross receipts or sales
267(1)
Line 2: Returns and allowances
268(1)
Line 3: Subtraction quiz
268(1)
Line 4: Cost of goods sold
268(1)
Line 5: Gross profit
269(1)
Line 6: Other income
269(1)
Line 7: Gross income
270(1)
Part II, Lines 8-27b: Expenses
270(23)
Line 8: Advertising
270(1)
Line 9: Car and truck expenses
270(3)
Line 10: Commissions and fees
273(1)
Line 11: Contract labor
273(1)
Line 12: Depletion
273(1)
Line 13: Depreciation
274(11)
Line 14: Employee benefit programs
285(1)
Line 15: Insurance (other than health)
285(1)
Line 16a: Mortgage interest
285(1)
Line 16b: Other interest
285(1)
Line 17: Legal and professional services
286(1)
Line 18: Office expense
286(1)
Line 19: Pension and profit-sharing plans
286(1)
Lines 20a and b: Rent or lease
286(1)
Line 21: Repairs and maintenance
287(1)
Line 22: Supplies
288(1)
Line 23: Taxes and licenses
288(1)
Lines 24a-b: Travel and meals
288(3)
Line 25: Utilities
291(1)
Line 26: Wages
291(1)
Line 27: Other expenses
292(1)
Line 28: Total expenses
292(1)
Line 29: Tentative profit (loss)
292(1)
Line 30: Form 8829
292(1)
Line 31: Net profit (or loss)
292(1)
Lines 32a and b: At-risk rules
292(1)
Start-up expenses
293(1)
Operating Loss
293(1)
Schedule F: Profit or Loss from Farming
294(9)
Figuring out Schedule F
296(3)
Identifying tax issues specific to farmers
299(4)
Chapter 14 Capital Gains and Losses: Schedule D and Form 8949
303(32)
Claiming Capital Sales: Collectibles and Real Estate
304(1)
Noting the Different Parts of Schedule D
304(2)
Form 8949: Sales and other dispositions of capital assets
306(3)
Calculating Your Adjusted Basis
309(2)
What's the starting point?
309(1)
Dealing with purchased property
309(1)
Looking at property received via inheritance, gift, divorce, or for services
309(1)
Making adjustments to your basis
310(1)
Part I, Lines 1-7: Short-Term Capital Gains and Losses
311(2)
Line 4: Form 6252 short-term gain, and Forms 4684, 6781, and 8824 short-term gain or <loss>
312(1)
Line 5: Net short-term gain or <loss> from Schedules K-1: Partnerships, S Corps, and estates/trusts
312(1)
Line 6: Short-term capital loss carry-over
312(1)
Line 7: Net short-term gain or <loss>
312(1)
Part II, Lines 8-15: Long-Term Capital Gains and Losses
313(4)
Line 8: Columns (a), (b), (c), (d), (e), and (f)
313(1)
Line 11: Long-term gains and losses carried from other forms
313(3)
Line 12: Net long-term gain or <loss> from different entities
316(1)
Line 13: Capital gain distributions
316(1)
Line 14: Long-term capital loss carry-over
317(1)
Line 15: Combine lines 8-14 in column (f)
317(1)
Part III, Lines 16-22: Summary of Parts I and II
317(2)
Line 16: Combine lines 7 and 15
317(1)
Line 17: Comparing lines 15 and 16
317(1)
Line 18: 28 percent gains
317(1)
Line 19: 25 percent gains
318(1)
Line 20
318(1)
Line 21: Capital losses
318(1)
Line 22: Qualified dividends
318(1)
Using Schedule D for Home Sales
319(6)
Computing your profit
322(1)
Reporting a profit that exceeds the exclusion
323(1)
Following the home office and rental rules
324(1)
Using Form 8949 and Schedule D for Other Stock Matters
325(5)
Worthless securities
325(1)
Wash sales
326(1)
Small business stock
326(1)
Stock options
326(2)
Short sales
328(1)
Stock for services
329(1)
Appreciated employer securities
330(1)
Reporting Nonbusiness Bad Debts
330(2)
Day traders
331(1)
Mark-to-market traders
331(1)
Checking On Cryptocurrency
332(3)
Chapter 15 Supplemental Income and Loss: Schedule E
335(18)
Part I: Income or Loss from Rental Real Estate and Royalties
336(11)
Questions A and B
336(1)
Line 1: Physical address and type of each property
336(1)
Line 2: Vacation home questions
337(1)
Lines 3-4: Income
338(1)
Lines 5-19: Expenses
338(4)
Lines 20-21: Calculating your income or loss per property
342(1)
Line 22: Deductible rental real estate loss after limitation, if any, on Form 8582
343(2)
The tax shelter rules
345(1)
Lines 23-26: IRS math quiz
346(1)
Part II: Income or Loss from Partnerships and S Corporations
347(3)
Line 27: The at-risk and other tax shelter rules
348(1)
Lines 28-32: Name ... and so on!
349(1)
Part III: Income or Loss from Estates and Trusts
350(1)
Passive income and loss
351(1)
Nonpassive income and loss
351(1)
Part IV: Income or Loss from Real Estate Mortgage Investment Conduits
351(1)
Part V: Summary
351(2)
Chapter 16 Giving Credits Where Credits Are Due
353(16)
Child- and Dependent-Care Expenses: Form 2441 (1040)
354(4)
Parts I and II
356(1)
Part III
357(1)
Credit for the Elderly or the Disabled: Schedule R (1040)
358(1)
Education Credits (Form 8863)
359(1)
Child Tax Credit and Credit for Other Dependents
360(2)
Retirement Savings Contributions Credit (Form 8880)
362(1)
Residential Energy Credits (Form 5695)
362(1)
Adoption Credit (Form 8839)
363(2)
Understanding the adoption credit and exclusion rules
363(2)
Figuring out Form 8839
365(1)
Motor Vehicle Credits (Form 8910 and Form 8936)
365(1)
Earned Income Credit (EIC)
366(3)
Chapter 17 Other Schedules and Forms to File
369(20)
Estimated Tax for Individuals (Form 1040-ES)
369(3)
Calculating your Safe Harbor estimated tax payments
370(1)
Completing and filing your Form 1040-ES
370(2)
Moving Expenses (Form 3903)
372(2)
Nondeductible IRAs (Form 8606)
374(3)
Part I: Traditional IRAs
374(2)
Part II: Conversions from traditional IRAs, SEPs, or SIMPLE IRAs to Roth IRAs
376(1)
Part III: Distributions from Roth IRAs
376(1)
Forms 8615 and 8814, the Kiddie Tax
377(2)
Form 8829, Expenses for Business Use of Your Home
379(5)
Considering the "simplified" home office deduction
380(1)
Measuring your home office
381(1)
Figuring your allowable home office deduction
381(1)
Determining your home office's depreciation allowance
382(1)
Deducting what's left
383(1)
Form W-4, Employee Withholding
384(1)
Household Employment Taxes: Schedule H
384(2)
Schedule SE: Self-Employment Tax Form
386(3)
Part 4: Audits And Errors: Dealing With The IRS 389(64)
Chapter 18 Dreaded Envelopes: IRS Notices, Assessments, and Audits
391(22)
Understanding the IRS Notice Process
392 (3)
Receiving your typical notice
392(1)
Deciphering a notice
393(2)
Assessing Assessment Notices
395(4)
General assessment notices - the CP series forms and other notices
395(1)
Income verification notice - Form CP-2501
396(1)
Request for tax return - Forms CP-515 and CP-518
396(1)
We are proposing changes to your tax return - CP-2000
397(1)
Backup withholding notice
397(1)
Federal tax lien notice - Form 668(F)
398(1)
Requesting a Collection Due Process Hearing
399(2)
Property levy notice - Form 668-A(c)
399(1)
Wage levy notice - Form 668-W(c)
400(1)
Handling Non-Assessment Notices
401(1)
Paying interest on additional tax
401(1)
Receiving a delinquent tax return notice
401(1)
What You Must Know about Audits
402(1)
Surviving the Four Types of Audits
403(4)
Office audits
403(1)
Field audits
404(2)
Correspondence audits
406(1)
Random statistical audits
406(1)
Questioning Repetitive Audits
407(1)
Getting Ready for an Audit
407(2)
Winning Your Audit
409(1)
Understanding the Statute of Limitations on Audits
409(4)
Extending the statute of limitations
410(1)
The statute of limitations on tax collection is
410(1)
Appealing the results of an audit
411(1)
Receiving a Statutory Notice of Deficiency
412(1)
Chapter 19 Fixing Mistakes the IRS Makes
413(16)
Seeing the Types of Mistakes the IRS Makes
414(1)
Corresponding with the IRS: The Basics
415(1)
Sending a Simple Response to a Balance Due Notice
416(1)
Sending Generic Responses to Generic Notices
417(6)
Misapplied payments
418(1)
Misunderstood due date
418(1)
Wrong income
419(1)
Exempt income
419(1)
Double-counted income
420(1)
Lost return
420(1)
Lost check
421(1)
Tax assessed after statute of limitations
421(1)
Partially corrected error
421(1)
Erroneous refund
421(1)
Data-processing error
422(1)
Incorrect 1099
422(1)
Wrong year
423(1)
Never received prior notices
423(1)
Getting Attention When the IRS Appears to Be Ignoring You
423(2)
Getting to know your local Taxpayer Advocate
423(1)
Meeting the criteria for a Taxpayer Advocate case
424(1)
Contacting the local Taxpayer Advocate
425(1)
Finding Your Refund When It Doesn't Find You
425(4)
How to locate your refund
426(1)
Uncashed refund checks
426(1)
Interest on refunds
427(1)
Refunds and estimated tax payments
427(1)
Joint refunds
427(1)
Joint estimated payments
427(1)
Deceased taxpayer
427(1)
Statute of limitations
427(1)
Protective claims
428(1)
Refund offset program
428(1)
Chapter 20 Fixing Your Own Mistakes
429(24)
Amending a Return
429(2)
More expenses than income (net operating losses)
430(1)
The tax benefit rule
431(1)
Solving When You Can't Pay Your Taxes
431(5)
Requesting an installment agreement
432(2)
Making an offer
434(1)
Declaring bankruptcy
434(2)
Planning ahead to avoid these problems
436(1)
Abating a Penalty
436(7)
The Internal Revenue Manual (IRM)
437(1)
Court cases that define reasonable cause
437(2)
Excuses that won't fly
439(1)
IRS rulings and announcements
439(3)
Penalty appeals
442(1)
Abating Interest
443(2)
When interest is incorrectly charged
443(1)
Erroneous refunds
444(1)
IRS delays
444(1)
When the IRS doesn't send a bill
445(1)
When the IRS sends a bill
445(1)
The 36-month rule
445(1)
Protecting Yourself with Innocent Spouse Relief
445(4)
Determining if you're eligible
446(1)
Receiving relief by separation of liability
447(1)
Obtaining equitable relief
447(1)
Additional innocent spouse rules
448(1)
Injured spouse relief
448(1)
The Taxpayer Bill of Rights: In the Beginning
449(1)
The Taxpayer Bill of Rights: Parts 2 and 3
450(3)
Part 5: Year-Round Tax Planning 453(112)
Chapter 21 Tax-Wise Personal Finance Decisions
455(10)
Including Taxes in Your Financial Planning
455(1)
Taxing Mistakes
456(5)
Seeking advice after a major decision
456(1)
Failing to withhold enough taxes
456(1)
Overlooking legitimate deductions
457(1)
Passing up retirement accounts
458(1)
Ignoring tax considerations when investing
458(1)
Not buying a home
458(1)
Allowing your political views to distort your decision making
458(1)
Ignoring the financial aid (tax) system
459(1)
Neglecting the timing of events you can control
459(1)
Not using tax advisors effectively
460(1)
Comprehending the Causes of Bad Tax Decisions
461(4)
"Financial planners" and brokers' advice
461(1)
Advertising
462(1)
Advice from websites and publications
462(1)
Overspending
462(1)
Financial illiteracy
463(2)
Chapter 22 Trimming Taxes with Retirement Accounts
465(20)
Identifying Retirement Account Benefits
465(4)
Contributions are (generally) tax-deductible
467(1)
Special tax credit for lower-income earners
467(1)
Tax-deferred compounding of investment earnings
468(1)
Don't go overboard
469(1)
Naming the Types of Retirement Accounts
469(9)
Employer-sponsored plans
470(2)
Self-employed plans
472(1)
Individual Retirement Accounts (IRAs)
473(5)
Annuities
478(1)
Taxing Retirement Account Decisions
478(7)
Transferring existing retirement accounts
478(2)
Taking money out of retirement accounts
480(5)
Chapter 23 Small-Business Tax Planning
485(18)
Organizing Your Business Accounting
486(4)
Leave an "audit" trail
486(1)
Separate business from personal finances
487(1)
Keep current on income and payroll taxes
488(2)
Minimizing Your Small-Business Taxes
490(7)
Business tax reform - The Tax Cuts and Jobs Act
490(1)
Twenty percent deduction for pass-through entities
491(1)
Depreciation versus deduction
492(1)
Car costs
492(1)
Travel, meal, and entertainment expenses
493(1)
Home alone or outside office space?
494(1)
Independent contractors versus employees
494(1)
Insurance and other benefits
495(1)
Retirement plans
496(1)
Know your interest deduction and net operating loss limitations
497(1)
Deciding to Incorporate or Not to Incorporate
497(4)
Liability protection -
497(1)
Corporate taxes
498(1)
Limited liability companies (LLCs)
499(1)
S Corporations
500(1)
Where to get advice
500(1)
Investing in Someone Else's Business
501(1)
Buying or Selling a Business
501(2)
Chapter 24 Your Investments and Taxes
503(16)
Tax-Reducing Investment Techniques
504(6)
Buy and hold for "long-term" capital gains
505(1)
Pay off high-interest debt
505(1)
Fund your retirement accounts
506(1)
Use tax-free money market and bond funds
506(1)
Invest in tax-friendly stock funds
507(3)
Tax-Favored Investments to Avoid
510(2)
Limited partnerships
510(2)
Cash-value life insurance
512(1)
Analyzing Annuities
512(1)
Selling Decisions
513(6)
Selling selected shares
513(1)
Selling securities with (large) capital gains
514(1)
Selling securities at a loss
515(1)
Mutual funds and the average cost method
516(1)
Stock options and taxes
516(1)
Selling securities whose costs are unknown
517(2)
Chapter 25 Real Estate and Taxes
519(18)
Surveying Real Estate Tax Breaks
519(3)
Mortgage interest and property tax write-offs
520(1)
Home ownership capital gains exclusion
521(1)
Home office deductions
522(1)
Purchasing Your Humble Home
522(5)
Exploring the tax savings in home ownership
523(1)
Deciding how much to spend on a home
524(1)
Tracking your home expenditures
525(2)
Reporting revenue if you sometimes rent
527(1)
Making Tax-Wise Mortgage Decisions
527(4)
15-year or 30-year mortgage?
527(2)
How large a down payment?
529(1)
Refinancing decisions and taxes
530(1)
Selling Your House
531(2)
Not wanting to sell at a loss
531(1)
Converting a home into rental property
532(1)
House sales, taxes, and divorce
532(1)
Investing in Real Estate
533(4)
Deciding whether real estate investing is for you
533(1)
Enjoying rental property tax breaks
533(4)
Chapter 26 Children and Taxes
537(14)
Bringing Up Baby
537(3)
Getting Junior a Social Security number
537(1)
Childcare tax goodies
538(2)
Costs and benefits of a second income
540(1)
Navigating Education Tax Breaks and Pitfalls
540(8)
The (hidden) financial aid tax system
541(1)
College cost tax deductions
541(1)
Section 529 plans - state tuition plans
542(1)
Education Savings Accounts
543(2)
American Opportunity and Lifetime Learning Credits
545(1)
Minimizing your taxes and paying for college
545(3)
Being Aware of Taxes on Your Kids' Investments
548(3)
Taxes for kids under 18 and dependent college students
548(1)
Tax-wise and not-so-wise investments for educational funds
549(2)
Chapter 27 Estate Planning
551(14)
Figuring Whether You May Owe Estate Taxes
551(3)
Understanding the federal estate tax exemption and rate
552(1)
State estate and inheritance taxes
552(1)
Determining your taxable federal estate
553(1)
Reducing Expected Estate Taxes
554(13)
Giving it away
555(2)
Leaving all your assets to your spouse
557(1)
Establishing a bypass trust
557(1)
Buying cash-value life insurance
558(2)
Setting up trusts
560(2)
Getting advice and help
562(3)
Part 6: The Part Of Tens 565(26)
Chapter 28 Ten Tips for Reducing Your Chances of Being Audited
567(6)
Double-Check Your Return for Accuracy
567(1)
Declare All Your Income
568(1)
Don't Itemize
568(1)
Earn Less Money
569(1)
Don't Cheat and Put Down Your Protest Sign
569(1)
Stay Away from Back-Street Refund Mills
569(1)
Be Careful with Hobby Losses
570(1)
Don't Be a Nonfiler
570(1)
Don't Cut Corners if You're Self-Employed
570(1)
Carry a Rabbit's Foot
571(2)
Chapter 29 Ten Overlooked Opportunities to Trim Your Taxes
573(6)
Make Your Savings Work for You
573(1)
Invest in Wealth-Building Assets
574(1)
Fund "Tax-Reduction" Accounts
574(1)
Make Use of a "Back-Door" Roth IRA
575(1)
Work Overseas
575(1)
Check Whether You Can Itemize
575(1)
Trade Consumer Debt for Mortgage Debt
576(1)
Consider Charitable Contributions and Expenses
577(1)
Scour for Self-Employment Expenses
577(1)
Read This Book, Use Tax Software, Hire a Tax Advisor
578(1)
Chapter 30 Ten (Plus One) Tax Tips for Military Families
579(6)
Some Military Wages May Be Tax-Exempt
579(1)
Rule Adjustments to Home Sales
580(1)
Tax Benefits for Your Family if You're Killed in Action
580(1)
Deadlines Extended During Combat and Qualifying Service
581(1)
Income Tax Payment Deferment Due to Military Service
581(1)
Travel Expense Deductions for National Guard and Reserves Members
582(1)
No Early Retirement Distribution Penalty for Called Reservists
582(1)
No Education Account Distribution Penalty for Military Academy Students
582(1)
Military Base Realignment and Closure Benefits Are Excludable from Income
583(1)
State Income Tax Flexibility for Spouses
583(1)
Deductibility of Some Expenses When Returning to Civilian Life
583(2)
Chapter 31 Ten Interview Questions for Tax Advisors
585(6)
What Tax Services Do You Offer?
586(1)
Do You Have Areas that You Focus On?
586(1)
What Other Services Do You Offer?
586(1)
Who Will Prepare My Return?
587(1)
How Aggressive or Conservative Are You Regarding the Tax Law?
587(1)
What's Your Experience with Audits?
587(1)
How Does Your Fee Structure Work?
588(1)
What Qualifies You to Be a Tax Advisor?
588(1)
Do You Carry Liability Insurance?
588(1)
Can You Provide References of Clients Similar to Me?
589(2)
Appendix: Glossary 591(14)
Index 605
Eric Tyson, MBA, is a critically acclaimed personal finance writer, counselor, and speaker. He is the best-selling author of For Dummies guides on personal finance, investing, home buying, and real estate.

Margaret Atkins Munro is an Enrolled Agent with decades of practical experience as CEO of TaxPanacea Associates LLC. She has published extensively on tax and tax-related issues, including 529 & Other College Savings Plans For Dummies and Taxes For Dummies.