August 19, 2014 8:30 am

The IRS has yet to rule on the tax treatment of relocation payments under the Home Affordable Foreclosure Alternatives (HAFA) program, and some people in your situation have received a Form 1099-A or ...

August 19, 2014 8:30 am

The tax law does not contain any tax rules specifically for grandparents. However, there are a number of breaks that grandparents can avail themselves of to reduce their tax bills while helping their ...

August 8, 2014 8:30 am

There are several tax breaks for college tuition payments: an above-the-line deduction (this break expired at the end of 2013 but likely will be extended for 2014), education tax credits, an exclusion...

August 5, 2014 8:30 am

Federal income taxes are not deductible. Similarly, you cannot deduct your payment of FICA on wages or the additional Medicare taxes on earned income (0.9% over your threshold amount) and net investme...

August 5, 2014 8:30 am

If you bought the time share for personal use, then just as in the case of a sale of a principal residence, no loss is allowed. If you bought the time share for investment purposes, you may be able to...

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May 22, 2014 1:50 pm

For the past 5 years, taxpayers with adjusted gross income up to a certain amount ($58,000 in 2013) have been able to prepare their federal income tax returns and file them electronically at no cost. ...

April 16, 2014 12:03 pm

The numbers are out and they’re not comforting. Taxpayers spend an exorbitant amount of time and money filing their federal income tax returns each year, and this filing season had been no different...

April 8, 2014 2:35 pm

Tax Freedom Day is April 21, which is three days later than last year. This is the day that the Tax Foundation computes as the time when the entire nation has paid enough to satisfy tax obligations fo...

March 19, 2014 2:25 pm

The IRS is holding refunds totaling $760 billion for about 918,600 taxpayers who did not file their 2010 returns. The last day to file and claim the outstanding refunds related to these returns is Apr...

March 5, 2014 11:27 am

The president’s budget proposal for the government’s 2015 fiscal year contains a measure to expand the earned income tax credit (EITC). This credit is fully refundable, so low- and moderate-income...

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August 19, 2014 8:30 am

The tax law does not contain any tax rules specifically for grandparents. However, there are a number of breaks that grandparents can avail themselves of to reduce their tax bills while helping their ...

August 5, 2014 8:30 am

The tax law generally limits a deduction for losses from passive activities to the extent of passive activity income. Unused losses are suspended and carried over, only to be used to offset passive ac...

July 22, 2014 8:30 am

The cost of higher education continues to rise each year, making it challenging for families to manage this financial burden. Fortunately, all states as well as a consortium of private institutions of...

July 8, 2014 8:30 am

Interest on municipal bonds is exempt from regular federal income tax. However, the interest may be taxable—directly or indirectly—under certain circumstances.State income taxesNot all sta...

June 24, 2014 8:30 am

The tax law is a moving target. If you look at any given moment, you’ll see rules that may disappear at a later glance. In the past several months, JKLasser.com has been asked about each of the foll...

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August 19, 2014 8:30 am

The IRS has yet to rule on the tax treatment of relocation payments under the Home Affordable Foreclosure Alternatives (HAFA) program, and some people in your situation have received a Form 1099-A or ...

August 8, 2014 8:30 am

There are several tax breaks for college tuition payments: an above-the-line deduction (this break expired at the end of 2013 but likely will be extended for 2014), education tax credits, an exclusion...

August 5, 2014 8:30 am

Federal income taxes are not deductible. Similarly, you cannot deduct your payment of FICA on wages or the additional Medicare taxes on earned income (0.9% over your threshold amount) and net investme...

August 5, 2014 8:30 am

If you bought the time share for personal use, then just as in the case of a sale of a principal residence, no loss is allowed. If you bought the time share for investment purposes, you may be able to...

July 22, 2014 8:30 am

No. A Schedule C is required if you are in a trade or business. However, you can report miscellaneous income on line 21 of Form 1040 (“other income”). This miscellaneous income is not subject to s...

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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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2014 Tax Supplements

The 2014 e-supplements for these titles are now available!

  • Your Income Tax 2014
  • 1001 Deductions and Tax Breaks 2014
  • Small Business Taxes 2014

Click here to download your FREE supplements.

View Prior Year Supplements.

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“There are two systems of taxation in our country — one for the informed, and one for the uninformed.”— Judge Learned Hand, famous jurist