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Welcome to 360 Degrees of Taxes, a national volunteer effort of the nation’s Certified Public Accountants to help consumers understand their taxes. 360 Degrees of Taxes has everything for tax season and beyond, all for FREE! This site, designed by CPAs, is here to help you find tax resources, tips, FAQs, checklists and much more. Check out the Ask-A-CPA section, where a real CPA will answer your individual questions. 360 Degrees of Taxes has everything you need to make small work out of filing. And with content being updated regularly, check back often. 

If You Can't Pay Your Taxes

Don't panic. That said, however, don't put your head in the sand. The IRS won't go away, and the amount you owe will only grow larger if you procrastinate. If you ignore your tax bill entirely, not only will interest and penalties accrue, but the IRS may go after your assets and wages as well. You can avoid all of that unpleasantness by finding a way to pay your taxes.  Learn about your options.

Video

Check out this short video explaining how to get your financial records organized in preparation for filing your taxes.

360 Degrees of Financial Literacy

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Learn more about your personal finances through every stage of life. Check out 360 Degrees of Financial Literacy, brought to you by the nation's certified public accountants.
www.360financialliteracy.org

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CPA Tip: Take Advantage of Flexible Spending Accounts.

If your company has health or child care FSAs, before year-end you must specify how much of your 2011 salary to convert into tax-free plan contributions. You can then take tax-free withdrawals next year to reimburse yourself for out-of-pocket medical and dental expenses and qualifying child care costs (depending on the type of plan). Watch out, though, FSAs are “use-it-or-lose-it” accounts—you do not want to set aside more than what you will likely have in qualifying expenses for the year.  

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