December 2, 2016 1:57 pm

Dependents must file a tax return and pay taxes if income exceeds set limits. For 2016, a single dependent under age 65 who is not blind must file a return if any of the following applies:Unearne...

December 2, 2016 1:53 pm

Some marketers are touting a "consumer rebate" in order to get individuals to subscribe to certain newsletters or buy other materials. The so-called rebate is nothing more than a tax deduction for sta...

December 2, 2016 1:40 pm

Your 2015 and 2016 income tax returns have been filed, but you now discover an error. You forgot to take a write-off you were entitled to, made a math mistake, omitted an item of income, or failed to ...

November 18, 2016 8:35 am

Lump-sum benefits are treated the same as monthly benefits. Thus, if your income is low enough, no benefits are includible in gross income. Otherwise, the benefits may be includible in gross income to...

November 18, 2016 8:30 am

The Affordable Care Act requires every individual not exempt from the law to have minimum essential health coverage or pay a penalty. The penalty amount for lacking coverage in 2016 is substantial and...

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December 2, 2016 1:40 pm

Your 2015 and 2016 income tax returns have been filed, but you now discover an error. You forgot to take a write-off you were entitled to, made a math mistake, omitted an item of income, or failed to ...

November 18, 2016 8:30 am

The Affordable Care Act requires every individual not exempt from the law to have minimum essential health coverage or pay a penalty. The penalty amount for lacking coverage in 2016 is substantial and...

November 4, 2016 9:44 am

While the rate of home ownership is still down, the value of homes has improved. The real estate market in some areas is booming, due to a recovering economy, low mortgage rates, and other factors. Fr...

October 14, 2016 11:08 am

Identity theft (ID) is rampant. Edith Ramirez, the chairwoman of the Federal Trade Commission (FTC), which is the lead federal agency combating identity theft, said earlier this year that tax refund f...

September 30, 2016 9:01 am

When married persons file joint tax returns, they are jointly and severally liable for the tax, interest, and penalties on that return. This means the IRS can seek recovery of the full amount from eit...

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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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December 2, 2016 1:57 pm

Dependents must file a tax return and pay taxes if income exceeds set limits. For 2016, a single dependent under age 65 who is not blind must file a return if any of the following applies:Unearne...

December 2, 2016 1:53 pm

Some marketers are touting a "consumer rebate" in order to get individuals to subscribe to certain newsletters or buy other materials. The so-called rebate is nothing more than a tax deduction for sta...

November 18, 2016 8:35 am

Lump-sum benefits are treated the same as monthly benefits. Thus, if your income is low enough, no benefits are includible in gross income. Otherwise, the benefits may be includible in gross income to...

November 18, 2016 8:30 am

Unfortunately, no. Of course, you are free to make donations to whomever you choose,  but the tax law limits deductible contributions to those made to 501(3)(c) organizations. Explore the organizatio...

November 4, 2016 12:11 pm

Probably not. These likely are considered nondeductible personal expenses for you. Legal fees are usually deductible only if they are related to:The collection of taxable income, such as legal fe...

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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.

View Prior Year Supplements.

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“I just filled out my income tax forms. Who says you can’t get killed by a blank?”— Milton Berle, comedian