You most likely think you can skip this article. After all, you're probably not self-employed, so you don't need to worry about paying quarterly estimated taxes, right? Not necessarily. Taxes aren't just meant to be paid on April 15. That's why we're blessed with tax withholding; it ensures that Uncle Sam is collecting revenue all year long. When this doesn't happen -- with self-employed citizens, for example, or investors with sizable dividend income or capital gains -- the IRS expects taxes on this income to be coughed up during the year. If your withheld taxes don't represent at least 90% of the taxes you actually owe for the current year, the IRS requires you to file quarterly estimates.

When it comes to taxes, credits are the preferred way to cut your bill. While deductions, either itemized or standard, reduce your amount of taxable income, credits cut your actual tax bill, dollar-for-dollar. That's because credits come into play AFTER your tax liability is figured. So if you owe Uncle Sam $500, a $250 tax credit will cut your bill in half.

By signing your 1040 form, you agree to abide by the tax law that holds you responsible for paying your taxes, regardless of who prepares your return. When it comes to collecting on mistakes, innocent or otherwise, the Internal Revenue Service looks for the taxpayer, not the person who filled out the forms. So before you turn your tax life over to someone else, make sure that the preparer is right for you and will do the right thing when it comes to filing your taxes.

Even if your tax situation isn't complicated, there's still documentation the Internal Revenue Service demands. But tax filing doesn't have to be an ordeal. And it can be less frustrating and less time-consuming if you have all the material at your fingertips. By being prepared, you'll be ready to file your return at the earliest possible moment (the IRS usually starts accepting returns around mid-January). And the earlier you file, the sooner you'll get your refund.

If you received an e-mail or phone call from the Internal Revenue Service telling you that your tax return was selected for an audit, would you provide your personal information? If you answered yes, chances are you would become a victim of identity theft. Each year, millions of Americans spend hours preparing their taxes, hoping they do not owe money to Uncle Sam. But what many fail to realize is that the government is not the only one after their money -- identity thieves take advantage of tax season to prey on unsuspecting victims.

Death and taxes may be equally inevitable, but the taxman demands the last word. Death does not excuse a final accounting with the IRS. In fact, taxes can further complicate the lives of survivors. Federal estate taxes could be due, and state inheritance taxes could come into play, too. Here, though, our focus is federal income taxes. The final tax return. When a taxpayer dies, a new taxpaying entity -- the taxpayer's estate -- is born to make sure no taxable income falls through the cracks. Income is taxed either on the taxpayer's final return, on the return of the beneficiary who acquires the right to receive the income, or, if the estate receives $600 or more of income, on the estate's income tax return.

The days of the stay-at-home mother are largely gone. Statistics show an ever-increasing presence in the workforce of parents with children. Nearly three-quarters of single parents, for example, are working while raising children. The average cost of daycare for a four-year-old child now runs about $3,000 to $9,000 nationwide, with the cost even higher for younger children, according to the Center for Law and Public Policy (view PDF). Parents who work face the double challenge of not only finding reliable and helpful care, but also a way to pay for this pricey but necessary expense. The tax law offers some ways to reduce the out-of-pocket cost of dependent care.

As you clean out your closet or reorganize your household, be sure to keep track of the items you give to charity. It's your job, not the charity's, to report the value of the donation to the Internal Revenue Service. For any items donated after Aug. 17, the new Pension Protection Act (which became law on that August date), requires that all household items given to a charity must be in good or better condition. Some questionable items that you donated in previous years and claimed were worth a few dollars because they were in "fair" condition are no longer acceptable.

A number of tax changes benefit those saving and investing for retirement, including: Higher Contribution Limits -- The limit on annual contributions to traditional and Roth IRAs is $4,000 in 2006, and will rise to $5,000 by 2008. After 2008, the limit may be adjusted annually for inflation. For certain employer-sponsored retirement plans -- including both traditional and Roth 401(k) and 403(b) plans, as well as 457 and SIMPLE plans -- the annual contribution limits will be indexed to inflation. Keep in mind, however, that employers can impose contribution limits that are lower than the government maximum.

We're smack in the middle of prime house-selling season. The National Association of Realtors predicts that 6.6 million existing homes will change hands this year. But many markets around the country are cooling, and the inventories of homes for sale are rising. Compared to the hot real estate market of recent years, you can no longer automatically expect to sell a house quickly and for a high price.