September 16, 2016 1:26 pm

All interest income must be reported on Form 1040, unless there is a special rule that applies (such as interest on U.S. savings bonds redeemed for higher education costs). Thus, whether or not you re...

September 16, 2016 1:22 pm

If you are at least 70-1/2 years old by the end of the year, you can make a direct transfer to a public charity up to $100,000. The portion transferred is not taxable, and it counts toward your requir...

September 16, 2016 1:19 pm

Yes. Sick pay is treated as taxable compensation. It is reported to you on Form W-2....

September 16, 2016 12:29 pm

As summer winds down, students head back to school.1. Check eligibility for an education creditIf you, your spouse, or dependent is attending college or graduate school starting this Fall, you...

September 2, 2016 12:25 pm

Yes. Gain on the sale of your principal residence is tax free to the extent of your home sale exclusion. The basic exclusion of $250,000 ($500,000 on a joint return) applies only if you owned and used...

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September 16, 2016 12:29 pm

As summer winds down, students head back to school.1. Check eligibility for an education creditIf you, your spouse, or dependent is attending college or graduate school starting this Fall, you...

September 2, 2016 12:07 pm

If you need money, turning first to those you know is a common practice. You don't have to fill out forms or pass credit tests to obtain the funds you need if your family and friends can afford to hel...

August 19, 2016 11:59 am

It's summertime and many families are using vacation homes for relaxation. However, this isn't true for everyone. If you own a second home and are no longer content to use it only occasionally for you...

August 5, 2016 4:04 pm

If you or your family has an illness or other medical condition, taxes are the last thing on your mind. However, you may be eligible for a number of tax breaks that may be helpful for your family....

July 22, 2016 3:48 pm

For federal estate tax purposes, an estate tax return is required to be filed if the value of the estate on the date of death exceeds the exclusion amount (e.g., $5.45 million for someone dying in 201...

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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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September 16, 2016 1:26 pm

All interest income must be reported on Form 1040, unless there is a special rule that applies (such as interest on U.S. savings bonds redeemed for higher education costs). Thus, whether or not you re...

September 16, 2016 1:22 pm

If you are at least 70-1/2 years old by the end of the year, you can make a direct transfer to a public charity up to $100,000. The portion transferred is not taxable, and it counts toward your requir...

September 16, 2016 1:19 pm

Yes. Sick pay is treated as taxable compensation. It is reported to you on Form W-2....

September 2, 2016 12:25 pm

Yes. Gain on the sale of your principal residence is tax free to the extent of your home sale exclusion. The basic exclusion of $250,000 ($500,000 on a joint return) applies only if you owned and used...

September 2, 2016 12:21 pm

Legal fees paid by an estate are deductible by the estate for estate tax purposes. If you paid the fees out of your own pocket, the estate can reimburse you. If you don't seek reimbursement, you will ...

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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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“Why does a slight tax increase cost you two hundred dollars and a substantial tax cut save you thirty cents?”— Peg Bracken, author of humorous books on cooking and other topics