How Long Until I Receive My Tax Refund?

You’ve got through the dreaded tax deadline and have your return into the IRS. Now the fun part – how long until I receive my tax refund? Show me the money!

through = ks. 1 selesai, siap. 2 terus(an). -kk. 1 dari permulaan sampai habis. 2 terus. 3 menyambung. -kd. 1 melalui. 2 melewati, lewat. 3 karena. 4 terus. 5 diluar.
dread = kb. rasa takut, ketakutan. -kkt. takut (kepada).

Before we get into your tax refund, it is vital that you understand something very important. A big tax refund is not really a good thing. Why? Well, it means you over paid your taxes throughout the year. This effectively acted as a free loan to the federal government. Instead of waiting a year to get your money, try cutting down your tax payments during the year to the point where you will pay in what you actually owe instead of a lot more.

How Long?
Okay, let’s get to the heart of the matter. How long does it take to get your tax refund? The answer is all in how you filed your tax return. We’ll start by assuming you filed on time and don’t have any penalties or what have you awaiting at the IRS. If you filed your tax return electronically, it usually takes two to four weeks to get your tax refund. An electronic filing is processed quickly. You can also speed up the process by forgoing a tax refund check and instead asking the IRS to simply wire the money into your bank account.




Many people are nervous about the tax refund wiring option. Why? Well, do you really want the IRS to know about your bank account? At least, that is the thinking on the issue. The truth is, of course, the IRS already knows about your bank account. If it wants to find yours for some reason, it will just run your social security number through the banks to find the accounts. Giving the IRS the number to process a wire of your refund is not the equivalent of giving the IRS the keys to the castle.
Okay, what if you mailed in your tax return? The majority of people still do it his way. Unfortunately, it slows down the refund process. The IRS has millions of paper returns coming in all at the same time. It has to organize them all and then scan everything into a computer. As you can imagine, that takes a while. Once everything is process, the agency will then cut your check. It can take anywhere from one to three months with the mid point being the most likely delivery date.

No Refund Arrived
What if you don’t get a refund? It usually doesn’t mean you are getting audited. The IRS treats the two subjects differently. It could mean you owed the IRS money in the past, and said amount has been deducted from your refund. If so, you’ll usually receive a letter telling you as much.
If you don’t receive anything from the IRS, that means there is a big problem. It usually boils down to one of two things. First, the IRS may not have received your return and thus isn’t processing a refund. Second, you’ve moved and failed to notify the IRS. Tax letters are generally not forwarded by the post office. In either case, you need to contact the agency to find out what is going on.
How long does it take to receive a tax refund? Anywhere between two weeks and three months unless there is a problem.

Sumber:
http://www.businesstaxrecovery.com/tax-articles/how-long-receive-my-tax-refund

How To Save On Taxes

You just got done paying taxes or filing an extension and are grumpy. If you are smart, you will use this miserable event to teach yourself how to save on taxes next year.

grumpy = galak
miserable = ks. 1 tidak senang. 2 yang menyedihkan. 3 miskin, sengsara. -miserably kk. sangat buruk, tidak keruan.

How To Save On Taxes
For most people, preparing and filing taxes is the equivalent of sticking a pin in a body part. It simply is not fun. Heck, it is not even amusing. One of the reasons is you inevitably find some part of the process where you wonder how you could possible not have more deductions or credits. You fully realize you should tweak your finances to maximize certain expense areas and, by God, you are definitely going to figure out how to save on taxes next year. This admirable goal, much like a New Years Resolution, fades into antiquity after about a month. You should not let this happen!

stick = kb. 1 (walking) tongkat. 2 batang. 3 potongan. 4 (golf, hockey) getokan. 5 Av.: kemudi. -kkt. (stuck) 1 menikam. 2 menusuk. 3 memasukkan. 4 melekatkan. 5 menempelkan. menyuntingkan. 7 menjulurkan. 8 Inf.: menipu. 9 memancangkan. 10 mencocokkan.
pin = kb. 1 peniti. 2 lencana. -kkt. (pinned) 1 menyematkan (a dress). 2meletakkan, menggantungkan. 3 menjepit.
heck = kb. to give s.o. h. mengomeli seseorang. -kseru persetan, buset.
amuse = kkt. 1 membuat orang tertawa, menggelikan hati. 2 memikat, menawan, menarik perhatian. 3 geli. --amused ks. girang, terhibur, senang hati. --amusing ks. lucu.
inevitable = ks. tak dapat dielakkan/dihindarkan. -inevitably kk. yang tak terelakkan, pasti jadi.
twear = kkt. menjewer (an ear).
admirable = ks. mengagumkan, terpuji, dpt dikagumi.
fade = kkt. memudarkan. -kki. 1 meluntur, menjadi pudar. 2 menghilang. 3 layu. to f. away 1 menjadi kabur, berangsur hilang. 2 mati, wafat. 3 menghilang, berangsur pergi. -fading kb. 1 kehilangan warna. 2 TV, Tel.: kehilangan kekuatan suara atau gambar.

There is no better time than now to proactively plan how to save on taxes for next year. Having just completed your taxes, you inherently know where you got hurt. Even if you do not, you inevitably felt like you paid more than your fair share. To avoid this, you need to do some tax planning.

inherent = ks. yang melekat, yang menjadi sifatnya. his i. honesty kejujurannya yang menjadi sifatnya itu. -inherently kk. sudah menjadi sifat. He's inherently lazy Malas sudah menjadi sifatnya/pembawaannya.

Stop groaning. Tax planning may sound boring, but it actually very exciting if you think about it the right way. If I told you a trip to Vegas would definitely result in $2,000 in your pocket, would you be excited to go? Of course you would. Well, tax planning has the same the result. You need to focus on the amount of money you will save.

groan = kb. rintihan, erangan, resah. -kki. 1 merintih, mengerang. 2 berkeluh keberatan. -groaning kb. suara mengerang/merintih, erang, rintihan.

The best way to go about tax planning is with a proactive accountant. Yes, they cost money, but they will save you far more than you spend and you can write off their fees. A win-win if ever there was one.
When selecting a CPA, you want a proactive one. You want them to look at your tax return and tell you where money can be saved. Then you want to know exactly how much you would have saved last year if you had taken the recommended steps. Yes, it will be painful, but it will also motivate you to get on board with their plan and stick with it.
Paying taxes this year was undoubtedly a painful experience. Analyze the specific areas that caused you pain to figure how to save on taxes next year.

pain = kb. perasaan sakit, kesakitan. -kkt. 1 menyakitkan. 2 menyedihkan (of news).

http://www.businesstaxrecovery.com/how_to_save_on_taxes

Withholding

Tax is withheld on your income because our tax system is in actuality a "pay as you go" system. Many look at taxes as something due all at once in April, but that is simply not the case. What you pay in April is the shortfall between the total amount of tax that you owe and your year-long payments. A withholding tax is imposed on salary and wage income, tip income, certain gambling winnings, pensions, and retirement distributions. You may avoid withholding on retirement payments. Withholding is also imposed on interest and dividends if you do not give your taxpayer identification number to a payer of interest or dividend income.


1
Income Taxes Withheld on Wages
The amount of income tax withheld for your wage bracket depends on your marital status and the number of allowances you claim. You file a withholding certificate, Form W-4, with your employer, indicating your status and allowances. Without a Form W-4, your employer must withhold taxes as if you are a single person with no exemptions. Back to top
2
Form W-2
By February 2, 2009 (January 31, 2009, is on a Saturday), your employer must give you duplicate copies of your 2008 Form W-2, which is a record of your pay and the withheld income and Social Security taxes. If you leave your job during the year, you may ask your employer for a Form W-2 by making a written request within 30 days of leaving the job. Back to top
3
Withholdings Should Cover Estimated Tax
You may find that you are withholding too much tax or too little. You can adjust your withholding at any time by filing a W-4 with your employer. In fixing the rate of withholding on your wages, pay attention to the tests for determining whether sufficient income taxes have been withheld from your pay. A penalty will apply if your wage withholdings plus estimated tax payments (including prior year overpayments credited to current estimated tax) do not equal the lesser of 90% of your current tax liability or the required percentage of the prior year's tax.

Taxes are withheld from payments made to you for services that you perform as an employee. By filing Form W-4, you claim allowances for yourself, your spouse, and dependents. The number of allowances claimed will either decrease or increase the amount of withholding. On Form W-4, you also may claim withholding allowances for itemized deductions and credits such as the child tax credit, child and dependent care credit, education tax credits, adoption credit, retirement savings credit, prior-year AMT credit, credit for the elderly and disabled, the foreign tax credit, credit for home mortgage interest, the general business credit, and earned income credit (if you have not filed for an advance payment of the credit on Form W-5).
If you need to increase your withholding, such as to cover investment or self-employment income, you can choose not to claim all of the allowances allowed on Form W-4. You can also direct your employer on Form W-4 to withhold an additional flat amount from each paycheck. Back to top
4
Are You Withholding the Right Amount?
You do not want to withhold too little from your pay and you do not want to withhold too much. You may need to withhold more to avoid a large tax payment or an estimated tax penalty when you file your return, especially if you have substantial income from investments or a business. On the other hand, if you have been receiving large refunds from the IRS, you may want to consider reducing your Form W-4 allowances to avoid over-withholding. Balance the loss of the use of your earnings during the year against the value of receiving a substantial refund check from the IRS after you file your return.
Working couples filing jointly should figure withholding allowances on their combined wage income, deductions, adjustments, and credits, but can divide the total number of allowances between them in any way they wish. On separate returns, the allowances must be figured separately.
If you work for two or more employers at the same time, you figure your withholding allowances based on the total income, and then split the allowances between the two jobs in any way you wish. Do not claim the same allowances with more than one employer at the same time.
File a new Form W-4 each year for withholding allowances based on your anticipated deductions and credits. Furthermore, you may have to file a new form to increase your withholding if withholding allowances you had been claiming are no longer allowed. Back to top
5
Part-Year Employees May Avoid Overwithholding
Starting a new job in the middle of a year presents a withholding problem. The amount of tax withheld from your paycheck is figured by taking your weekly pay and multiplying this by a 52-week pay period. To alleviate this problem, you may ask your employer to calculate withholdings on what is known as the "part year" method if your work days during the year are expected to be 245 or fewer. As an alternative, you may elect to claim extra exemptions on Form W-4, which has the same effect of reducing the amount withheld each week from your paycheck. Back to top
6
When to Change Withholdings
Adjust withholding if there will be a significant change in the tax you owe for 2009. Credits such as the child tax credit, Hope scholarship credit, and lifetime learning credit may reduce your 2009 tax. By decreasing your withholding now, you can get the benefit of the lower taxes throughout the year. On the other hand, a withholding increase may be advisable if previously claimed deductions or credits will not be available to you, or if you expect an increase in nonwage income such as capital gains. Check the instructions to Forms W-4 and 1040-ES for 2009 to help you adjust your withholdings. Back to top
Summary
The amount of income tax withheld for your wage bracket depends on your marital status and the number of allowances you claim.
You may increase or decrease withholdings on your wages by submitting a new Form W-4 to your employer. Withholdings may be reduced by claiming allowances based on tax deductions and credits.
Make sure that tax withholdings meet or help you meet the estimated tax rules that require withholdings plus estimated tax payments to equal 90% of your current-year liability or the required percentage of the prior year's liability
If you are a part-year employee, you may ask your employer to calculate withholdings on what is known as the "part year" method.

http://www.businesstaxrecovery.com/articles

States With No Income Tax

If you are considering relocating to a new state, taxes should be something you consider. Specifically, there are a number of states with no income tax.

States With No Income Tax

As you well know, paying taxes is a grind. Paying federal taxes is the biggest burden, but state income tax can quickly add up as well. There are, however, some states with no income tax. Depending on your earnings, this can save you hundreds or thousands of dollars a year when tax time rolls around.

There are seven glorious states with no income tax. In no particular order, they are:

• Alaska
• Florida
• Nevada
• South Dakota
• Texas
• Washington
• Wyoming

There are two other states that technically collect income tax, but do not for all practical purposes. They are Tennessee and New Hampshire. These two do not collect a tax on your earnings, but they do collect tax if you receive dividends. Under tax law, dividends are technically considered to be income, thus neither Tennessee nor New Hampshire are technically

At first glance, a lack of income tax may seem like a great thing. Generally, this is true, but you need to watch out. Many of these states make up the difference by collecting taxes in other ways. They may crank up their sales tax or property taxes for example. The particular approach varies from state to state, but they generally do something. The exceptions to this rule are Alaska and Nevada. Alaska derives most of its money from the oil companies. As you can probably guess, Nevada makes up the difference from the casinos.

If you are considering moving to another state, taxes are something you should definitely take into consideration. While a factor, they should probably not be the overriding one in your decision.

http://www.businesstaxrecovery.com/states_with_no_income_tax

Taxing Rich Wouldn't Close the Gap, but Would Shrink It

by David Wessel
Thursday, September 3, 2009

provided by

President Barack Obama projects the federal deficit will be $9 trillion over the next 10 years even if his policies prevail — undoing the Bush tax cuts for upper-income Americans, auctioning carbon-iission permits, and enacting a health-care plan that doesn't widen the deficit over the next decade.

He also continues to promise to limit tax increases to incomes above $250,000 a year for couples and $200,000 for individuals — "the rich."

Talking about tax increases usually dissolves into shouting matches. The right says tax increases will choke off growth and massacre small business. The left says tax increases are vital to finance much-needed investments and that the rich can pay more.

Hard numbers and recent history suggest two facts. One, the deficit is too wide to be closed exclusively by raising taxes on "the rich." Two, "the rich" do have a lot of money, even after the bust, and raising their taxes would raise significant sums without hampering the economy

Start with some rough arithmetic. The three million or so fortunate taxpayers whom Mr. Obama counts as rich are projected to earn about $27.5 trillion from 2010 through 2019, according to the Tax Policy Center, a Washington think tank, and about $23.9 trillion after deductions. They are projected to pay $7.4 trillion in taxes. That's 31.1% of every dollar of taxable income, on average.

To squeeze an additional $9 trillion out of these taxpayers would require boosting that to 68.9%. And that assumes these taxpayers wouldn't find tax shelters to hide their income or work less. There isn't enough money in the over-$250,000 crowd to stick thi with the $9 trillion tab.

Shrinking the deficit will require slowing the growth of spending, particularly on health care. But neither politicians nor their constituents show any willingness to cut spending enough to avoid tax increases. So the issue is whose taxes, and the arithmetic suggests it won't only be those who make more than $250,000 a year.

The best-off Americans do pay a big chunk of taxes. The Tax Policy Center estimates that the top-earning 1% of households will earn 16% of all the income this year and pay 23% of all federal taxes. But that doesn't mean the government couldn't raise more from thi, even if some stay-at-home spouses of well-off Americans might be less inclined to work and others maneuvered to shield income from the IRS.

Congressional estimators — taking account of the propensity of people to dodge taxes when rates rise — say that for every percentage-point increase in the marginal tax rate levied on those with taxable incomes above $372,950, the government would raise $73.5 billion over 10 years. (Before the bailouts, that used to sound like a lot of money. It still is.)

There is and will be a heated argument over how much the economy would suffer if those tax rates went up. But tax rates on those Americans were about three percentage points higher during the Clinton years.

"The 1990s suggests we could raise more money from high-income people...and still have a strong economy," says Joel Slirod, a University of Michigan tax economist. But the first half of the 2000s suggested the economy also can grow when their taxes are cut. And the latest recession, unlike some others, didn't coincide with any change in tax rates.

Which is another way of saying that tax rates matter — to taxpayers and to the government's revenue. But they are far from the only factor in the pace of economic growth.

Write to David Wessel at capital@wsj.com

Why the federal deficit will raise taxes

By Jeanne Sahadi, CNNMoney.com senior writer
On Thursday August 27, 2009, 1:44 pm EDT

A $9 trillion federal deficit over 10 years may be too hard to comprehend. But this part is easy: Such unwieldy amounts of debt could have an impact on Americans' bottom line one way or the other -- if not tomorrow, then the day after.

comprehend = kkt. 1 memahami, mengerti. Some theories are difficult to c. Ada teori-teori yang sukar dipahami. 2 terdiri dari, meliputi. Indonesia comprehends many islands Indonesia terdiri dari banyak pulau.

The U.S. government has been spending a great deal more than it has been taking in, and it is on track to do so well beyond the next 10 years. It has been borrowing money to make all that spending possible and it has to pay the money back with interest. How, you ask? By borrowing more.

has been spending: present perfect continous: to show that something started in the past and has continued up until now

The solution is straightforward if unpleasant: Shy of finding a fairy willing to leave trillions under Uncle Sam's pillow, lawmakers will have to raise taxes and cut spending.
The more the country lives on a credit card, the more it makes itself beholden to the demands of its creditors -- many of which are overseas. The danger is that buyers of U.S. debt could become concerned that the country is running too high a balance. If so, they will demand higher interest rates -- thereby making the country's debt problem worse -- or they'll put their money elsewhere.

At that point, things would get ugly.
"Taxes would rise to levels that would make a Scandinavian revolt. And the government would not be able to provide anything but the most basic public services. We would no longer be a great power (or even a mediocre one), and the social safety net would evaporate," tax policy expert and Syracuse University professor Len Burman wrote in a recent op-ed cheerfully titled "Catastrophic Budget Failure."

ugly = ks. 1 jelek, buruk. u. face muka yang jelek. 2 berbahaya, parah (wound). 3 Inf.: tak pantas, kurang ajar, kasar (of a statement or action). u. duckling seorang gadis yang buruk rupanya sewaktu kecil tapi setelah dewasa menjadi molek.
revolt = kb. pemberontakan. -kki. 1 memberontak (against terhadap). 2 berrevolusi. 3 bangkit (against menentang). -revolting ks. memuakkan, menjijikkan.
mediocre = ks. sedang-sedang, cukupan.
evavorate = kkt. menguapkan. Heat evaporates water Panas menguapkan air. -kki. menguap. Water evaporates Air menguap. -evaporated ks. yang di uapkan
catastrophic = ks. yang merupakan bencana besar.

That's why acting sooner rather than later makes sense. But acting too soon could cause its own set of problems since the economy is only beginning to lick its wounds from a punishing recession. Economists and tax experts, no matter their ideological position, agree raising taxes when the economy is down is self-defeating.
But as the economy finds a solid footing, the hard choices will have to be made.

lick = kb. 1 jilatan. 2 Inf.: sedikit. -kkt. 1 menjilat (a stamp). 2 Inf.: memecahkan (a problem). 3 Inf.: memukul. 4 Inf.: mengalahkan, mengatasi, mencukur. -licking kb. Inf.: 1 pukulan. 2 Inf.: kekalahan.
wound = kb. luka. bullet w. luka kena tembakan. -kkt. melukai.
defeat = kb. 1 kekalahan. 2 penaklukan. -kkt. 1 mengalahkan, menggulingkan (the enemy). 2 menggagalkan(a motion). 3 Sport : menundukkan.

"We need to do this in stages at the right time," said David Walker, former U.S. comptroller general, in a CNNMoney.com video.
Right now there is a lot of talk, but not a lot of planning, about how to address the situation.

address = kb., 1 alamat. 2 amanat, pidato 3 berbicara, menegur. 4 memanggil, menyapa, menyebut.

In fact, President Obama is pledging to keep taxes low for most people.
For example, Obama has proposed keeping in place the 2001 and 2003 tax cuts for families making less than $250,000 (under $200,000 for individuals). The cuts are scheduled to expire in 2011.

A number of temporary tax relief measures, including the patch to protect the middle class from the Alternative Minimum Tax, are set to expire even sooner. And Obama has said he would like to keep many of those measures in place as well.
Experts say that's not going to cut it.
"Taxes are going up and they're going up for a lot more people than those making more than $250,000. Why? Math. The numbers don't come close to working," Walker said.

patch = kb. 1 Auto.: tambalan. 2 potongan kecil (over an eye). 3 bidang kecil tanah. 4 potong. -kkt. menambal, menempeli. patch-up ks. seada-adanya. p. up job pekerjaan/ tambalsulam seada-adanya.

For instance, the president's proposal to raise taxes only on high-income families would raise an additional $600 billion over 10 years, said Roberton Williams, a senior fellow at the nonpartisan Tax Policy Center.
That's not a lot when the government is staring at a 10-year deficit of $9 trillion. A 10-year deficit of that magnitude means the debt held by the public -- the accumulation of all annual deficits over the decades -- would reach 82% of gross domestic product come 2019. That's double the 41% recorded in 2008.

instance = kb. 1 hal. 2 contoh. for i. misalnya, umpamanya.

When lawmakers do decide to act, they will need to do more than just tinker with tax rates, according to Williams.
Tax experts have been calling for fundamental tax reform to make the system less complex. Plus, Williams said, Congress will likely need to seek out a new source of revenue beyond the income tax. One idea that has been talked about increasingly is a value-added tax, which is a tax on goods and services at every stage of production up to the point of sale.

seek = kkt. (sought) 1 mencari (a job, book). 2 meminta. 3 mencoba. -kki. dicari, diketemukan.

A multi-pronged approach may work best because "no piece by itself is enough," Williams said. "There's a really big hole to fill and [lawmakers] are just talking about dollops."

prong = kb. 1 gigi garpu. 2 cabang (of antler).

Let Obama Help Pay for Home Upgrades

by AnnaMaria Andriotis (Author Archive)

Updated on April 30, 2009.
Making energy-efficient home improvements will not only help cut your cooling costs this summer, but can also provide a sizable break on your tax bill come tax season.
Thanks to the stimulus package, which passed in February, consumers can receive tax credits for up to 30% of the cost to make energy-efficiency improvements to their home, like adding insulation or new windows. The maximum $1,500 credit (one-time only) is a significant jump from the $500 offered in years past and will be available through 2010. (Many of the previous credits expired at the end of 2007.)


Both the tax and the energy savings could really add up, especially considering that the average household spends $1,000 a year on heating and cooling costs, says Ronnie Kweller, spokeswoman for the Alliance to Save Energy.
Still many of these purchases – like central air conditioners and a new Energy Star-rated roof – are so expensive that consumers must weigh the upfront costs with potential savings (often, installation costs won't count toward the credit either). Keep in mind that you won't be receiving that 30% tax credit for months after the project is probably complete. And, in some cases, such moves may not be worth it. Ideally, you want to replace the roof, A/C unit or insulation when they can no longer offer any savings on your cooling and heating bills and that usually happens when they reach the end of their lifespan, says Kweller.
Knowing which products qualify for the new tax credits can also be tricky. For example, previous tax credits were doled out to consumers who purchased Energy Star windows. After June 1, not every Energy Star-certified window qualifies, and the ones that do adhere to stricter eligibility requirements.
Here are four home improvements that can help you cut your summer energy costs and get Uncle Sam to pick up part of the tab:
Adding Insulation
Insulation is the cheapest home improvement that qualifies for the tax credits, says Karen Schneider, spokeswoman for Energy Star. And by installing it you could save up to 20% on your energy bills.
For the new insulation to qualify, it must meet the 2009 International Energy Conservation Code (check product labeling or call the manufacturer) and carry a two-year warranty (or be expected to last five years). Insulation at Home Depot and Lowe’s costs $10 (for a 32-foot roll) and $56 (for a 119-square foot roll), respectively.
If your home is less than five years old, you won't need new insulation, says Schneider. If your home is older, measure the thickness of the insulation in your attic. Insulation is measured in R-values, which stands for thermal resistance. It should range between R-30 and R-60 (for the northern parts of the country), she says. Every three to five R-values typically equal an inch of insulation, so R-30 could range between six and 10 inches, according to the Alliance to Save Energy. Also check the insulation in your crawl space or basement.
Click here for directions on installing insulation. Or hire a professional contractor, but installation won’t count toward the tax credit.
Purchasing New Windows and Doors
Before, tax credits for windows and doors were capped at $200. Now you can get up to $1,500. But that's only if those doors and windows meet certain criteria.
Windows, doors and skylights need a label from the National Fenestration Rating Council (NFRC) that says their U-factor – a measure of how well they’ll insulate the home from heat – is no more than 0.30. The label also needs to list a Solar Heat Gain Coefficient (SHGC), which measures how much of the sun’s heat penetrates into the home, of no more than 0.30.
Still, qualifying windows are expensive, with most ranging from $270 to $1,100, says Susan Roeder, spokeswoman for Andersen Windows and Doors, a window and door manufacturer based in Bayport, Minn. Doors can start at around $840 and go as high as $2,500.
Storm windows and doors can also qualify. The storm window's manufacturer certification statement lists the type of exterior windows, including single pane or clear glass, which it can be combined with to be eligible for the credit. Storm doors need to accompany a tax-credit-eligible wooden door without exceeding a combined U-factor of 0.30.
Installing Air Conditioners
Energy Star estimates the retail price and installation of a five-ton central air conditioner at more than $1,700. That’s hardly cheap, but luckily these systems only need to be replaced once every 10 to 12 years, says Schneider.
To qualify, central air conditioners need a Seasonal Energy Efficiency Ratio (SEER), which measures the efficiency of central air, of at least 16 and an Energy Efficiency Rating (EER), which tracks how it operates once the outdoor temperature reaches 95 degrees, of at least 13.
For a list of qualified A/Cs, click here.
Replacing the Roof
Assuming your roof is around 15 years old, replacing it with a metal or asphalt roof that meets Energy Star requirements will help keep your home cool by reflecting the sun’s heat -- especially if you live in a warm location, says Schneider.
This is a pricey project, however, running around $200 to $300 per square, says John New, a salesman at American Building Components, a manufacturer of metal roofing in Nicholasville, Ky. For a 25-square roof – a common size – it will cost $5,000 to $7,500.
But once you hit $5,000 you'll be eligible for the full $1,500 tax credit, says Schneider.
(Corrected April 28, 2009: As originally published, we stated the price of metal roofs using square feet. The correct measurement is in squares. One square equals 100 square feet.)

10 Things the IRS Won't Tell You

by Jason KephartFriday, March 20, 2009provided by smartmoney.com

1. "Like it or not, you may need help with your taxes."
When Cindy Hockenberry and her husband sent in a tax-penalty payment in 2007, they knew there was a chance their math might not jibe with the IRS's. When that turned out to be true and the amount was much higher than expected, they decided to dispute it. Fortunately for them, Hockenberry's a pro. As tax research coordinator at the National Association of Tax Professionals, she spotted a glitch in the IRS's calculation; after visiting the local IRS office, the agency admitted its mistake and lowered the penalty. "There's no way the average taxpayer would have noticed," she says.

jibe = kki. bersesuaian, cocok (with dengan). The two stories do not j. Kedua cerita itu tidak cocok satu sama lain.
dispute = kb. perselisihan, percekcokan. -kkt. membantah. to d. with memperselisihkan, memperdebatkan.
spotted = berbintik
admit = kkt. (admitted) 1 mengakui.2 mengaku.3 menerima 4 memuat (dpt memberikan tempat) 5 mengenal. 6 berlaku utk.

As recently as 2000, less than half of all taxpayers were using a preparer. Today 80 percent use software or a tax pro, "because they're scared of making a mistake," says Nina Olson, the National Taxpayer Advocate. "That's a sign the system's too complex." A pro may not be necessary for basic returns that include just a W-2 and, say, mortgage interest; in those cases, TurboTax will do. However, if you've made a lot of market moves or run a side business, consider a preparer. (You can find one at www.natptax.com; expect to pay $150 to $200 per return.)

Form W2: Wage and Tax Statement

2. "You don't have to be rich to get audited."
The IRS's job is to enforce the tax laws enacted by Congress and to collect what's due. Its primary weapon? The audit, whose use has more than doubled since 2000, to surpass 1 percent of all returns, according to the Transactional Records Access Clearinghouse, a Syracuse University data-research organization. The increase can be attributed to the rising number of so-called correspondence audits -- those done through the mail asking for specific information rather than, say, investigating your whole return, says Susan Long, codirector of the organization. "It's more efficient."

enacted = kkt. 1 membuat, menjadikan. to e. a law menjadikan undang-undang, mengundangkan. 2 memainkan, memerankan. to e. a role (in a play, film) memainkan peranan.
surpass = kkt. melebihi, melampaui, mengungguli. to s. one expectations melebihi dari apa yang kita harapkan. -surpassing ks. jauh melebihi yang lain-lain.
attribute = kb. 1 sifat.2 perlengkapan, benda yg khusus berh. dng pangkat, kedudukan, lambang.-kkt. 1 mempertalikan. 2 menghubungkan.

One way to get the IRS's audit sensors tingling is to claim deductions much higher than are typical for your income level. We'd share them with you, but the IRS keeps that information under wraps. What's more clear: Big charitable donations have been getting a much closer look, says Bob Meighan, VP of TurboTax. "It's been an area of abuse for a while," he says. To protect yourself, get a receipt for any donation you plan on deducting. And keep those receipts for seven years -- unless it suspects you of outright fraud, that's how far back the IRS will go with an audit.

tingling = perasaan geli
wrap = kb. selendang. -kkt. (wrapped) 1 membungkus (a package). 2 membelitkan, melilitkan. wrapping paper kertas pembungkus. -wrappings kb., j. bahan pembungkus.
outright = ks. 1 yang sama sekali palsu. o. lie kebohongan yang sama sekali palsu. 2 secara ikhlas. o. gift hadiah secara ikhlas. -kk. sekaligus, seketika itu. to pay o. membayar seketika itu.

3. "Fear is often our best weapon."
The threat of an audit is enough to send many folks scurrying to their tax preparer, and no wonder. "With audits, you're assumed guilty until proven otherwise," says Long. It's this fear, coupled with the complexity of the system, that causes some to overpay their taxes by not taking deductions they're entitled to, according to experts. A study by the Government Accountability Office found that 2.2 million people a year overpay, by an average of $438. "Americans are leaving a lot of money on the table," says Roni Deutch, a Sacramento-based tax attorney.

threat = kb. ancaman. There's the t. of snow Ada ancaman (turunnya/jatuhnya) salju. t. on o's life ancaman akan dibunuh.
folk = kb. rakyat, bangsa. Inf.: folks j. 1 sanak saudara, pamili. 2 orang - orang. f. song lagu rakyat. f. tales dongeng-dongeng rakyat.
scurrying = berjalan cepat
entitled =yang diberi hak/judul

The GAO report listed mortgage interest, personal property tax, and state and local income tax as the main deductions not being taken. But there are more. Net market losses can be deducted up to $3,000, and if you lost more, you can roll it over into the next year. (Note: To claim a loss now, you need to have sold the stock last year.) You can also deduct things like tax-prep software, a résumé service and IRA fees if they total more than 2 percent of your adjusted gross income. Bottom line: "Take every legitimate tax break out there," says Kay Bell, a tax expert at Bankrate.com. "Just make sure you can justify it."

4. "The AMT is our ATM."
When the alternative minimum tax was introduced in 1969, it affected only a handful of taxpayers with high income and big deductions. But by 2010, it will hit 87 percent of married couples with income between $75,000 and $100,000. That's not what it was designed to do; the AMT was meant to force big earners with lots of deductions to pay their fair share. Now it "brings in a group of taxpayers the IRS has no problem with," says Olson. "The AMT has run its course." The problem is, the AMT hasn't been updated to account for inflation. Instead, Congress has been adjusting exemption criteria on a yearly basis. "It's just a Band-Aid," says Hockenberry.



The Band-Aid in this year's stimulus plan reduces the number of taxpayers subject to the AMT to 4.4 million -- it would've been 30 million, according to the Tax Policy Center. But if you're living in a high-tax state or married with two or more kids, you might find as you calculate both your regular return along with the AMT -- form 6251, which taxpayers are responsible for -- that you could be liable for the latter. Confused? The IRS offers AMT assistance at www.irs.gov; click on "Online Services."
5. "Just because we billed you doesn't mean you owe us money."
Receiving a CP2000, also known as a correspondence audit, sure sounds scary, but in most cases, you don't actually owe any more money. Not that the IRS will make that clear -- it's likely billing you because of a discrepancy on a certain deduction or reported income; then it's up to you to prove otherwise. But as the number of these audits have risen, up 176 percent since 2000, the chance for error goes up as well. The IRS says 98 percent of the audits it sends out require clarification, not payment, but Charlotte Ogorek, an Illinois-based enrolled agent, thinks it's more like 85 percent.
Even if the charge is unfounded, to appeal it could cost you anywhere from $500 to $4,000, depending on how long it takes, says Bill Wandel, a licensed taxpayer rep at JK Harris. If you plan to challenge a CP2000, contact your local taxpayer advocate from the IRS (go to www.irs.gov/advocate to find yours), who will provide advice and representation free. If it turns out you need even more expertise, contact a tax lawyer or an enrolled agent (a professional licensed by the IRS to represent taxpayers in front of the IRS). Find one at www.naea.org.
6. "If you don't pay, we'll sic a collection agency on you."
If you thought dealing with the IRS was bad, wait till you're past due on a payment and get turned over to one of the two private collection agencies the IRS taps to help collect its money. Since 2005, the IRS has been assigning delinquent taxpayer accounts to either Pioneer Credit Recovery or the CBE group of Iowa -- much like any other business or lender. "These are federal taxes," says Olson, the National Taxpayer Advocate. "The IRS should be collecting them." The retention of these private agencies costs $7.65 million annually, yet when the IRS works these cases instead, "it's three times more productive," Olson says. (A spokesperson for Pioneer Credit Recovery and CBE says the issue isn't who can do the work more efficiently; it's whether these taxes would be collected at all without the private collection agencies.)
If the IRS puts a private collection agency on your case, Olson says the first thing to do is to request that your case be turned back over to the IRS. The reason: IRS collectors have the authority to offer you a compromise settlement, something the private agencies aren't authorized to do.
7. "Want to go green? We'll help pay."
Tucked into last year's unprecedented $700 billion bailout plan was some pork that even a vegan could love. Congress not only added an extension of the eco-friendly Energy Policy Act of 2005, which was set to expire at the end of 2007, but it also sweetened the pot for homeowners looking to green up their homes.
Want to grab some energy from the sun? Starting in 2009, a number of energy-saving steps will garner tax breaks for green consumers. Installing a photovoltaic system for solar energy, for example, will net you a tax credit worth 30 percent of the total cost; at www.solar-estimate.org you can find out the price and potential savings of installing a system in your neighborhood. Or if you're gung-ho for wind energy, you'll get up to $4,000 or 30 percent of the cost of installing a small home windmill system to generate energy. Check out the National Renewable Energy Laboratory's "In My Backyard" tool at its Web site to see how much energy you can expect to get from a windmill. For homeowners who aren't looking to go quite that green, there will be a $500 onetime credit for installing energy-efficient windows, insulation or a central air system.
8. "April 15 isn't necessarily a hard deadline."
If you're one of the 112 million taxpayers who receive a refund every year rather than owing more, you have a lot more flexibility around the standard Apr. 15 deadline than you might think. Feeling rushed this year? By filling out IRS form 4868, which you can find online, you can buy yourself a no-questions-asked six-month extension on filing your taxes. And you can file the form requesting your extension as late as Apr. 15 without incurring any penalties. The only catch -- and it's significant for some: If you do owe any taxes, then you must still pay those by the 15th.
How do you know if you're going to owe taxes this year? If your life is basically the same year to year, then your refund is pretty much on autopilot, says Bell. But any big changes -- such as a large increase in salary, unexpected commission or year-end bonus, or having a child go from dependent to independent -- could potentially swing you into the loss column. So when in doubt, do the math in advance, or check with a tax pro to see if there's anything you should be worried about.
9. "We may be a government agency, but that doesn't mean your data's safe."
One things you may not be thinking about as you file your taxes this year is that the documents you're sending off to the IRS contain virtually every piece of information an identity thief would ever need to drive your credit, and your sanity, into the ground. And considering that data breaches are on the rise -- up 47 percent in 2008 from 2007, according to nonprofit Identity Theft Resource Center -- protecting your information, which includes your Social Security number and home address, should be paramount. But a recent report by the Treasury Inspector General for Tax Administration (TIGTA), an independent IRS oversight organization, casts some doubt on the agency's ability to protect your information. For example, TIGTA says two new systems the IRS is implementing to manage taxpayer accounts and account data were "deployed with known security vulnerabilities in the controls over sensitive data protection, disaster recovery and system access."
Alarming as this information is, it's hardly a new problem at the IRS, says J. Russell George, inspector general for TIGTA. "We've seen this before when they implement a new system. The organization's unwillingness to change its behavior is potentially harmful to taxpayers," he says. (The IRS had no comment.)
10. "We may still have your refund."
Waiting on a refund? Typically, it takes three to six weeks to get your money back from Uncle Sam, depending on whether you e-filed or sent your paper return through snail mail. Either way, the IRS does a pretty good job, by and large, of getting refund checks out to taxpayers in a timely manner. But the agency's record is hardly perfect: Every year a fraction of refunds -- belonging to more than 100,000 taxpayers, and with an average due of $988 -- never get to their destination.
What's the problem? According to the IRS, these undelivered refunds are mainly due to issues regarding the accuracy of a taxpayer's mailing address or direct-deposit information. For example, people move and don't leave a forwarding address, handwritten returns may be illegible, or the direct-deposit routing number may be off by a digit or two. If you haven't received your tax return in a reasonable amount of time, check out the IRS's "Where's My Refund?" tool on its Web site.

Big Brother and Your Taxes

by Ben Stein

Posted on Monday, April 20, 2009, 12:00AM
Here is a scary story for you.
Recently a friend of mine, who lives in a city in Northern California, called me, extremely upset. She said she had just received a letter from the California Franchise Tax Board, the ruthless entity that collects taxes in sunny California.

Franchise = kb. 1 (voting) hak suara. 2 hak, monopoli.
upset = 1 menggangu, merusak (nerves, plans). 2 menumbangkan (a dish or pan). 3 Sport: mengalahkan. 4 mengacaukan.
ruthless = ks. zalim, kejam, bengis.
sunny = 1 cerah (of a day). 2 gembira, riang (disposition). 3 yang mendapat banyak cahaya matahari (of a room).

The letter referenced her 2006 taxes, asking her how she had the means to buy a certain very expensive car she owns. She was asked to document how she had the money for it and why they saw no sign of that income on her 2006 return.

reference = kb. 1 surat keterangan, rekomdasi. 2 referansi.
return = kb. 1 kembalinya. 2 hasil. 3 keuntungan, laba (for o's money on o's investment). 4 kedatangan kembali, pemulangan. 5 (tax) formulir pajak penghasilan. -ks. kembali. -kkt. 1 mengembalikan (a book, compliment). 2 membalas (s.o's love).

The fact is that the woman in question was in a serious car accident in late 2005. Her prior car was totaled. So she got a lump sum insurance payment of about $30,000. Rather imprudently, she used that money as the down payment on an extremely pricey car -- the sort of car she really does not have enough income to afford.

imprudently = dengan tidak bijaksana
pricey = mahal
afford = kkt.1 menghasilkan,memberi-(kan).2 kuat, mampu.3 boleh.4 mengadakan, membuka, memberi.

That's her problem, and she will deal with it.
The scary part is that the California Franchise Tax Board knew what kind of car she bought and how much she paid for it, and they could and did compare those numbers with her earlier years' income.
The Servant Becomes the Master
This shows that information by taxing authorities has gone way past where it should be. The whole incident reminded me of the beginning of ‘Terminator', when we learn that, at a certain stage, machines become self-conscious and have the will to take over the earth. The servant becomes the master. And since the master is a machine, it has no feelings other than the will to control.

conscious = ks. 1 sadar. He was c. after his fall Dia sadar sesudah ia jatuh. 2 disengaja. to tell a c. lie berdusta dengan sengaja.

If the taxing authority knows what kind of car a taxpayer has and how much it cost to buy, what's next? Can the state match up our credit card purchases with our social security numbers and then keep a total of how much we have spent in 2009? Can the IRS or the Franchise Tax Board then have a program that figures that if we spent X, especially on Y and Z items, then we must have had an income of A? Can it then send us a letter demanding to know why we did not pay tax on amount A?

figure = kb. 1 bentuk badan. 2 bilangan, angka. 3 jumlah, bilangan. 4 tokoh. 5 gambar. 6 harga. -figures j. ilmu hitung. -kkt. 1 menghitung, menjumlahkan. 2membayangkan. -kki. 1 berhitung. 2 Inf.: kira. 3 terdapat, tertera. -figured ks. bergambar.

More frightening, the taxing authority can slap liens on taxpayers, and sometimes the taxpayers don't learn about it until later. Can the IRS or the state authority compute what their machines "think" we owe, and then simply debit that amount from our bank or brokerage accounts? If there is not enough there to pay what they figure we owe, can they put liens on our homes and garnish our wages?

frightening = menakutkan
slap = kb. tamparan, tempeleng. -kkt. (lapped) 1 menampar (s.o.). 2 menjatuhkan (a fine on s.o.). 3 membantingkan (food on a table). to s.around memukuli. to s. down menampik. slap-happy ks. puyeng, suka pening, miring otak.
lien = kb. hak gadai. because of the l. on it karena telah digadaikan.
garnish = kb. hiasan (for food). -kkt. menghias.

If the IRS really gets rolling, can they get an instantaneous, automated look at our checking accounts? Can they compute what the machines think we owe by the checks plus the credit cards, and then attach our wages or our bank accounts until we pay?

rolling = kb. (meng)gelinding(nya) (of a ball). ks. 1 berbukit-bukit (country). 2 berombak-ombak, melandai (fields). 3 yang berombak (besar) (sea).

Soulless Machines
Our government, to some people, appears to be a fair-minded, careful body. And many bureaucrats do fit that description, although many do not. But what happens when soulless machines take over the tasks of tax gathering?

Soulless = tanpa jiwa
appear = kki 1 kelihatan. 2 menghadap. 3 muncul 4 terbit. 5 bermain. 6 nampak, tampak, kelihatan. 7 tampil, muncul.
careful = ks. (ber-)hati-hati. -carefully kk. 1 dengan hati-hati. 2 dengan teliti.
fit = kb. 1 serangan tiba-tiba. 2 pas. -ks. 1 pantas, patut, layak. 2 sehat. 3 dapat, siap. 4 baik. -kk. to see f. memutuskan. -kkt. (fit atau fitted) 1 cocok dengan. 2 mencocokkan / menyusun kembali. 3 menjadikan. fitings kb., j. benda-benda, perabot.
gathering = pengumpulan

Then we humans have to gather our records and try to fight back as well as we can. How long until we go into an audit and don't even talk to a human being but instead have a machine scan our documents and then instantaneously give us an answer?

The answer, of course, will always be "pay up."
At present, only the top echelons of wage earners pay any meaningful amount of tax. But once the collection process is fully computerized, what is to stop the IRS or the states from collecting at least a few ounces of flesh from everyone?

ounce = kb. ons. to sell by the o. menjual per ons.
flesh = kb. daging. to put on f. bertambah gemuk. -kkt. to f. out meluaskan, menyempurnakan. -flesh-colored ks. berwarna seperti daging. flesh-eating ks. yang makan daging. f. wound luka enteng.

The future liabilities of the government -- thanks to wild overspending by both the Democrats and Republicans -- are almost incomprehensibly large. The needs of the states are critical right now. What is to stop the politicians from making machines our oppressors to squeeze out every dime they can from us?

oppressors = penindas
squeeze = kb. 1 tekanan. 2 tiruan. 3 pemerasan. -kkt. 1 memeras (money from s.o., fruit). 2 memencetr, meremas (a kitten). 3 menyelipkan. 4 memeluk, mendekap (a child in o's arms). -kki. diperas.
dime = kb. sepicis, uang picisan. a d. a dozen banyak dan mudah didapat. d. store toko murah yang menjual barang dengan harga beberapa sen keatas.

A Plea for Privacy
And what about some minimal amount of privacy? I am happy to pay my taxes. I like the fact that some of what I pay goes to the military and police and firefighters. But I don't want the government to know all the details of my life, which is what they are clearly on the way to knowing.

Plea = kb. 1 permohonan, permintaan. 2 Law : pembelaan, dalih.

For years now, I have been hearing that we need a very large sales tax instead of an income tax, and I have pooh-poohed the idea as being too regressive. But now that I see where the income tax system is going, I am eager for a fresh look at a national sales tax, which would stop the government from prying into our lives.

pooh = kseru. cih, bah. -kkt. pooh-pooh tak mengindahkan.
eager = ks. ingin sekali, hasrat. to be e. to go ingin sekali pergi. Inf.: e beaver orang yang rajin sekali. -eagerly kk. dengan tak sabar, dengan keinginan yang amat besar.
prying = kkt. (pried) membongkar, membuka dengan keras, mengumpil (top off a box). -kki. to p. into 1 mencampur-campuri (other's affairs). 2 menyelidiki (a matter). 3 pengintip, mengintai.

Taxes are a basic part of life, and we all have to pay our fair share. But Big Brother is a lot closer than we think, via the tax system, and I don't like that one bit.

closer = semakin dekat
bit = kb. 1 kekang, gurdi. 2 sedikit. 3 agak. 4 lih BITE. b. by b. sedikit demi sedikit. not a b. sedikitpun tidak. bits and pieces potong-potong, kepingan.

Top Tax Tips for Younger Filers

by Anya Kamenetz

Posted on Wednesday, March 12, 2008, 12:00AM

Filing your taxes is kind of like going to the dentist: It may not be fun, but dealing with it is part of being a grownup. So with Tax Day one short month away, I turned to an expert for advice aimed especially at us younger and newer filers. Kay Bell is a Texas-based journalist who has covered tax tips for Bankrate.com since 1999 (check out their 2008 tax guide here).
She also writes one of the most readable and entertaining tax blogs on the Web: Don't Mess With Taxes.

readable = menarik

Here are Kay's and my top tax tips for GenDebt.
1.) Take the easy way out.
Put your technology skills to work. Online filing can be fast and cheap -- even free. "Tax prep software has gotten better every year," says Bell. If you make less than $54,000 per year, you can use the IRS Free File site directly.
Or you can try the free version of the TaxACT program.
You might also be able to get a free version of TurboTax or H&R Block's Tax Cut software. Check with your bank or financial institution to see if they have any deals.

2.) But not too EZ.
Bell says one of the biggest mistakes young filers make is going straight for the one-page 1040EZ form.
"A lot of young people might have student loans, and they can deduct the interest, but not on the 1040EZ," she says. "They need to use a 1040A or the long 1040."

3.) Be a savvy student.
About that student loan interest deduction: Those who earn less than $65,000 a year can take up to $2,500 off their adjusted gross income for the interest (not the principal) paid annually on student loans. This counts for both federal and private student loans. If you're still enrolled in a qualified higher education institution, you can also claim a HOPE tax credit for up to $1,650 for your tuition and fees.
Importantly, Bell notes, these are "above-the-line" deductions, meaning you don't have to itemize them (break them down, rather than taking the standard deduction) to claim them.

savvy = cerdas

4.) Adjusting to the working world? Adjust your income.
Another surprising above-the-line deduction: the expenses for your first big move and first job.
"Let's say you got out of college at Ohio State, and you're moving to take a job offer down in Atlanta," says Bell. "Be sure to keep a record of your U-Haul and moving expenses." All of this can be written off on the 1040 Long Form only.
After your first job, you can deduct job-hunting expenses like resume prep when you look for another position in the same field, but you have to itemize to take these deductions.

5.) Online tools can help the self-employed.
Lots of younger workers are starting out as freelance, permalance, or independent contractors. If you're getting paid on a 1099 instead of a W-2, you need to fill out a Schedule C form to itemize your business expenses.

Here, take your time and be thorough. For example, don't forget home-office expenses -- you can deduct a proportion of your rent, Internet, and utilities if you work from home (although your work area should be exclusively delineated and reserved for work).
thorough = seksama
delineated = digambarkan

Also, you can deduct your premiums if you buy your own health insurance -- which you should!
Online tools can help you keep organized when it comes to all of these deductions, which is extremely important. "People end up cheating themselves," says Bell. "They have a lot of expenses and they're not remembering them, and it's awful hard to reconstruct things."
cheating = menipu
awful = kejam

As a freelance writer, I've been dealing with this since I first filed taxes. This year, I went through my online GCalendar month by month to remember all the dates where I incurred business-related travel or entertainment expenses (e.g., lunch with an interview subject). My Amazon account showed what books I'd bought for research, and my cell phone bills served as a log, allowing me to figure out the percentage of calls that were made to business-related numbers.
incurred = yang terjadi
log = mencatatkan dalam buku harian.

Kay also suggests using online mapping tools to reconstruct your mileage if you drove anywhere for work. Of course, you should be able to back up every deduction with a receipt.
Another important thing to remember: If you are a freelancer and taxes are not being taken out of your paychecks, you must file estimated tax payments each quarter. If not, "you're technically in violation of tax law," says Bell. Eep.
In online tool that can help you with this task is the Electronic Federal Tax Payment System.

6.) Get the maximum benefit out of your benefits.
If you read this column, you already know the long-term reasons to fund your tax-sheltered retirement account. If it's a Roth IRA or Roth 401(k), you still have to pay taxes on your contributions (with the advantage of taking the money out tax-free when you retire). But if your employer offers a regular 401(k), those contributions will reduce your tax liability.
Another employer-provided tax benefit that Bell says people often overlook is a flexible spending account for medical expenses. Put, say, $500 into it for your co-pays and dental deductibles -- even over-the-counter medications -- and you can take that amount off your taxable income.
sheltered = yang dinaungi

7.) Know when to get extra help.
There are certain times when younger filers should seek help from a human being, whether at a storefront chain like H&R Block or Jackson Hewitt, or with a qualified CPA. You may want to do this if you've started your own business, sold some property, or have a large amount of investments, all things that will make your tax filing more complicated. Or, says Bell, "if you're just too danged busy and you're going to be rushed. You never want to get in a rush when you're doing your taxes."


8.) Beware the refund.
Everyone knows that a fat refund is your reward for going through the mind-numbing process of tax filing, right? Well, think again. A "refund" just means you let the government hold on to too much of your income all year, like giving them an interest-free loan.
"If you find you're getting a large refund, go to your human resources office and fill out a new W-4," says Bell. "You want to have just as close to what you're going to owe taken out as possible."
Another refund pitfall: If you walk into a tax-prep chain, watch out for any refund anticipation loans they offer. They'll cost you a bundle in the long run.

Beware = hati2
bundle = berkas

9.) Get your stimulus payment.
Finally, this year there's yet another cash incentive to file -- your economic stimulus payment of $300 to $600, scheduled to go out in May and based on your 2007 return. The IRS is encouraging even those whose incomes are too low to need to file to go ahead and do it this year.
While the $150 billion stimulus package is supposed to get Americans to go out and spend their refunds, a better option for many members of Generation Debt is to -- yes -- pay off debt or invest the money.

encouraging = menganjurkan,

Top Tax Tips for Younger Filers