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WHAT IS THE NEW MEXICO GROSS RECEIPTS TAX? By: Dianne Goodman, CPA: Most states have what is known as a sales tax. New Mexico does not have a sales tax but they have a Gross Receipts Tax... is an acceptable form of documentation. These forms can be obtained by filling out the form at http://www.state.nm.us/t... Online Tax Preparation and Filing By: Jim Slobodzian: Tax Preparation and Filing Online - It's All About ComfortThe main reason I began to use tax preparation software a n... target="_blank">http://www.globeinvestor.com/servlet/WireFeedRedirect?cf=GlobeInvestor/taxzone/taxzone_config&date=2002... Taxes and Your E-Commerce Business By: Brian Roe: Starting an online business can seem overwhelming at first. Finding the right domain name, getting reliable hosting, w... and protecting it is essential. A trademark identifies the source of goods or services to the consumers. You cannot reg... Tax Preparation Software By: David C Skul: Web-based tax preparation services have a few advantages over their desktop counterparts for certain categories of use... posted to the Web server, so you don't have to download patches. Online tax preparation software is also a good option ... Find the Right Service to Prepare Your Taxes By: Don Kransteuber: It is possible to save money on your tax preparation fees by doing some advance preparation of your own. Make sure tha... http://www.alltaxsoftware.info. You'll find articles, resources and links to helpful sites. ... Military Reservists, Enlistees May Get Deferral Of Back Taxes Richard ChapoReservists called to active duty and enlistees in the armed forces may qualify for a deferral of taxes owed if they can show that their ability to pay taxes was affected by their military service. The deferral covers active duty members of the military services — Army, Navy, Air Force, Marine Corps and Coast Guard — and commissioned officers of the uniformed services — Public Health Service and the National Oceanic and Atmospheric Administration. Reservists must be placed on active duty to qualify. National Guard personnel not serving in a “federalized” status — that is, called to active duty specifically by the president of the United States — are not covered. The deferral applies to taxes that fall due before or during military service, and extends the payment deadline to six months (180 days) after the military service ends. No interest or penalty accrues during the deferral period. The deferral is not automatic. A taxpayer must apply for it. When applying, the taxpayer must show how the military service affected the taxpayer's ability to pay. A taxpayer must also have received a notice of tax due, or have an installment agreement with the IRS, before applying for the deferral. The deferral does not extend the deadline for filing any tax returns. However, taxpayers in the armed forces may get extra time to file under other provisions, such as being stationed overseas, in a combat zone or in a qualified hazardous duty area, or if they are serving in direct support of a combat zone. Combat Areas The following areas of have been designated as combat areas. 1. Afghanistan and the airspace above was designated a combat zone effective Sept. 19, 2001. 2. The Federal Republic of Yugoslavia (Serbia/Montenegro) 3. Albania 4. Bosnia and Herzegovina 5. Croatia 6. Macedonia 7. The Adriatic Sea 8. The Ionian Sea — north of the 39th parallel 9. The Persian Gulf 10. The Red Sea 11. The Gulf of Oman 12. The part of the Arabian Sea that is north of 10 degrees north latitude and west of 68 degrees east longitude 13. The Gulf of Aden 14. The total land areas of Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates 15. Incerlik Air Base in Turkey, effective Sept. 21, 2001 16. Pakistan, Tajikistan and Jordan, effective Sept. 19, 2001 17. Uzbekistan and Kyrgyzstan, effective Oct. 1, 2001 18. The Philippines, effective Jan. 9, 2002 19. Yemen, effective April 10, 2002 20. Djibouti, effective July 1, 2002 While deferring back taxes is a helpful notion, a better method would be simply to waive all taxes on military personnel. About the Author: Richard Chapo is CEO of http://www.businesstaxrecovery.com - Obtaining tax refunds for small businesses for overpaid taxes. Discovery tax strategies and deductions in our tax articles section.
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