Tip of the Month for November 2001

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Tax Tip Grab Bag
Make Learning About Taxes FUN!

In a stunning effort at making taxes “taxpayer friendly,” the IRS has invented a game, in a game show format, with tips on free stuff for taxpayers. Braintaxer. Yes, we are indeed entering a new era.

Isn’t the Internet Taxing Enough?

Concerned about all the tax you might be spending on the Internet for those holiday purchases? Relax. When in doubt … The House of Representatives, on October 16, decided to not decide – on an Internet tax – for another two years. Whew! That was close. The moratorium on web tax was October 21. Close call.

The IRS Online?

We all knew it would happen sooner or later. Now you can pay your taxes online, directly to the IRS. The IRS officially launched a new Internet service that businesses and individuals can use to make federal tax payments. The Electronic Federal Tax Payment System, and of course, there’s an acronym, EFTPS, now can take payments from businesses or individuals over the web at Note, this is not for return preparation or filing. Payments only. No licking stamps. No looking around in the pile of old newspapers for that envelope. Easy as pie, the modern way.

Are the Tax Tables Turning?

Not yet. But there are new tables, recently published by the IRS with new withholding rates effective July 1, 2001.

The IRS has released revised withholding tables to reflect the tax-rate reductions that take effect July 1. Curious? Go to IRS Publication 15-T, "New Withholding Tables for 2001."


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