June 24, 2016 10:59 am

Yes. IRAs are taxed on unrelated business income. This may be received if your IRA holds an interest in a master limited partnership (MLP). This income is reported to an IRA owner on Schedule K-1 and ...

June 24, 2016 10:59 am

Your federal income taxes are the basis on which you can obtain student loans, get a mortgage, or obtain financing for a small business. Depending on the reason for the information, you may need to fu...

June 24, 2016 10:59 am

If the value of your wife's estate, including not only probate assets but also IRAs, life insurance owned by her, annuities, and jointly owned property, is more than an applicable threshold ($5.43 mil...

June 10, 2016 11:59 am

Tax-related identity theft results when someone uses your Social Security number to file a tax return and obtain bogus refunds. When a return is filed under your name, the processing of your return is...

June 10, 2016 11:24 am

Yes. As part of the PATH Act, signed into law on December 18, 2015, the tax-free treatment applies to transfers from IRAs to public charities up to $100,000 per year by those age 70-1/2 and older appl...

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June 24, 2016 10:59 am

Your federal income taxes are the basis on which you can obtain student loans, get a mortgage, or obtain financing for a small business. Depending on the reason for the information, you may need to fu...

June 10, 2016 11:59 am

Tax-related identity theft results when someone uses your Social Security number to file a tax return and obtain bogus refunds. When a return is filed under your name, the processing of your return is...

May 26, 2016 11:43 am

Gambling—legal and illegal—is widespread. For example, according to the Fantasy Sports Trade Association, it is estimated that 56.8 million people in the U.S. and Canada participated in fantasy fo...

May 17, 2016 11:23 am

If you work, you can contribute to a Roth IRA, but only if your modified adjusted gross income is below set limits. What happens if you contributed to a Roth IRA during 2015 (for the 2016 tax year) bu...

April 22, 2016 11:07 am

As you file your 2015 income tax return, you may find that the government owes you money. Last year (2014 returns filed in 2015), the average refund amount was more than $2,800. Here's what you shoul...

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December 9, 2015 10:12 am

There are about $173 billion in U.S. savings bonds outstanding. This makes this type of investment one of the largest assets held by individuals. Savings bonds enjoy certain special tax treatment. Her...

December 2, 2014 8:30 am

A new tax year is set to dawn shortly and recently released cost-of-living adjustments can help you plan for 2015. Due to low inflation, increases in the tax brackets and other tax items are minimal; ...

November 18, 2014 8:30 am

This year has been a bumpy ride on Wall Street, with dramatic swings up and down. Now is a good time to review your retirement account and your personal portfolio. While changes you make in your retir...

November 4, 2014 8:30 am

Medicare is a government health program primarily for the 49 million Americans age 65 and older. Those covered by Medicare are deemed to have minimum essential health coverage as required by the Affor...

October 21, 2014 8:30 am

Concerned about care if you should experience a chronic condition or just old age requiring assistance for your daily living activities? You should be, because the cost of long-term care—in your hom...

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June 24, 2016 10:59 am

Yes. IRAs are taxed on unrelated business income. This may be received if your IRA holds an interest in a master limited partnership (MLP). This income is reported to an IRA owner on Schedule K-1 and ...

June 24, 2016 10:59 am

If the value of your wife's estate, including not only probate assets but also IRAs, life insurance owned by her, annuities, and jointly owned property, is more than an applicable threshold ($5.43 mil...

June 10, 2016 11:24 am

Yes. As part of the PATH Act, signed into law on December 18, 2015, the tax-free treatment applies to transfers from IRAs to public charities up to $100,000 per year by those age 70-1/2 and older appl...

June 10, 2016 11:15 am

Generally, all income earned in an IRA account is not currently taxable. The income is tax deferred and, regardless of the source of the income, is reported as ordinary income when distributions are t...

May 26, 2016 11:11 am

No, there is no netting or income averaging for capital gains and losses that occurred in different years. You must report last year's gain, which can only be offset by last year's capital losses, plu...

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May 22, 2012 1:24 pm
IRS Announces More Flexible Offier-in-Compromise Terms to Help a Greater Number of Struggling Taxpayers Make a Fresh Start, From IRS.gov, 5/21/12
April 23, 2012 10:21 am
Federal Circuit dismisses refund suit based on all-zero returns, From Journal of Accountancy, 4/20/12
April 18, 2012 10:17 am
What's the Most Ridiculous Thing You've Heard This Tax Season?, From CPATrendlines, 4/16/12
April 17, 2012 10:48 am
Celebrities are often in debt to the tax man, From USA Today, 4/17/12
April 11, 2012 11:03 am
Study finds tax deadline day can be deadly on roads, From Foxnews.com, 4/10/12
More Stories
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2016 Tax Supplements

The 2016 e-supplements for these titles are now available!

  • Your Income Tax 2016
  • 1001 Deductions and Tax Breaks 2016
  • Small Business Taxes 2016

Click here to download your FREE supplements.

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“We make a living by what we get, but we make a life by what we give.”— Sir Winston Churchill