Federal Tax Book

Finding a book on federal taxes is easy with the advent of the internet. Just do a search and pick a result by following the link. There is help for just about any tax issue you might have as well as additional resources. The following is a brief review of the "taxes for Dummies" book.

The following book is easy-to-read, fairly well organized, and thoroughly helpful. Taxes for Dummies is for anyone who wants to prepare their own taxes, either by hand or by computer. It contains excellent advice and strategies for dealing with the IRS. Especially welcome are the line-by-line tips for filling out the shorter 1040-EZ and 1040-A forms.

The table of contents lists each line of the tax form, making this information easy to find. By providing instructions for the 1040EZ, 1040A and 1040. There are icons that indicate tax-saving tips and warnings to keep you out of trouble. These writers have done an excellent job of turning IRS technical jargon into something most can actually understand.

Taxes for Dummies is the perfect book to guide you step by step in how to negotiate and win when dealing with the IRS. If you have received a letter from the IRS (and one out of three taxpayers do, according to the book), this book will explain to you what the letter means, and how to respond to it. These authors even provide sample letters so you can respond promptly. This exceptionally well-written advice for dealing with the IRS is worth the price of the whole book.

The section on tax planning is well-balanced and sensible. There are unique tips by the authors' on how tax planning can impact financial aid for college. The book also provides information on how to reconstruct missing tax records and receipts. The authors also advise on how to substantiate cost basis, business expenses and fair market values.

The only items that Taxes for Dummies didn't seem to cover were the problems and possible solutions for taxpayers who had financial losses during the year. For example, the loss of their home, rental income or stock loss. However, any tax preparer should be able to guide their client through the intricacies of claiming these losses without being taxed on them.

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