December 30, 2016 2:09 pm

Fellowship payments used for incidental expenses, including room and board, travel, and optional equipment are taxable. So too are amounts received for teaching, research, and other services required ...

December 30, 2016 2:04 pm

Charitable contributions are fully deductible for estate tax purposes. Unlike donations for income tax purposes, there are no adjusted gross income percentages or other limits.However, be sure to ...

December 30, 2016 10:37 am

In the course of a marital dissolution, spouses may divvy up their financial assets. Some may take the form of property settlements, which are tax-free events, or alimony, which is taxable to the reci...

December 16, 2016 1:00 pm

The stock market has been up for the year and the real estate market is solid in many parts of the country. Between now and New Year's Eve, you may want to take actions—buying and selling—to impro...

December 16, 2016 1:00 pm

If such care is medically necessary, as prescribed and certified by a licensed health care provider, then it can be treated as a deductible medical expense if you itemize deductions. For 2016, only ou...

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December 30, 2016 10:37 am

In the course of a marital dissolution, spouses may divvy up their financial assets. Some may take the form of property settlements, which are tax-free events, or alimony, which is taxable to the reci...

December 16, 2016 1:00 pm

The stock market has been up for the year and the real estate market is solid in many parts of the country. Between now and New Year's Eve, you may want to take actions—buying and selling—to impro...

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...

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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 30, 2016 2:09 pm

Fellowship payments used for incidental expenses, including room and board, travel, and optional equipment are taxable. So too are amounts received for teaching, research, and other services required ...

December 30, 2016 2:04 pm

Charitable contributions are fully deductible for estate tax purposes. Unlike donations for income tax purposes, there are no adjusted gross income percentages or other limits.However, be sure to ...

December 16, 2016 1:00 pm

If such care is medically necessary, as prescribed and certified by a licensed health care provider, then it can be treated as a deductible medical expense if you itemize deductions. For 2016, only ou...

December 16, 2016 1:00 pm

Yes. Those age 70-1/2 and older can transfer up to $100,000 annually directly from an IRA to a public charity. The distribution is not taxed, although no charitable contribution deduction can be taken...

December 16, 2016 1:00 pm

Yes. If your income is too high to allow you to benefit from the credit, you can let your child use it. To do this, you must forego the dependency exemption you would otherwise have claimed for her....

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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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“Even Albert Einstein reportedly needed help with his 1040 form.”— Ronald Reagan