June 11, 2015 10:25 am

Gain or loss is the difference between the basis of the stock and what you received for it. The basis of inherited stock used for determining gain or loss is the estate tax value, which is usually the...

June 11, 2015 10:22 am

Under the home sale exclusion rules, you can use part of the exclusion if you cannot meet the two-year test for owning and living in the home under certain conditions. The failure to meet the test mus...

June 11, 2015 10:20 am

The bad news: it’s all too easy to trigger tax penalties. The good news: A number of penalties can be waived if you have a good excuse. Here are three common penalties and the excuses that can resul...

June 11, 2015 10:16 am

With summer vacation approaching and mortgage rates low, some taxpayers may be thinking of buying a second home. Others who already own a vacation home may be renting it out for part of the year. How ...

June 11, 2015 10:09 am

You can take a tuition and fees deduction only for a dependent, so if your granddaughter is not your dependent, you’re out of luck. If she were your dependent, the deduction is capped at $4,000 (you...

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June 11, 2015 10:20 am

The bad news: it’s all too easy to trigger tax penalties. The good news: A number of penalties can be waived if you have a good excuse. Here are three common penalties and the excuses that can resul...

June 11, 2015 10:16 am

With summer vacation approaching and mortgage rates low, some taxpayers may be thinking of buying a second home. Others who already own a vacation home may be renting it out for part of the year. How ...

June 11, 2015 10:01 am

With spring in the air, many homeowners are fixing up their homes. Some projects may be minor; others are major. Homeowners do these activities to improve their living conditions and raise the value o...

June 9, 2015 9:32 am

More than 50 tax breaks that expired at the end of 2013 were extended for 2014 and can be used on 2014 tax returns. Many of our readers have expressed confusion about which breaks have been extended, ...

June 9, 2015 9:14 am

While about half the states have laws requiring adult children to provide financial support for indigent parents, most adult children feel a moral obligation to provide needed support with or without ...

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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...

October 7, 2014 8:30 am

Amended Returns: Why, When, and HowIf you’ve filed a federal income tax return that you know does not accurately reflect your income and deductions, what should you do now? It depends on the ye...

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June 11, 2015 10:25 am

Gain or loss is the difference between the basis of the stock and what you received for it. The basis of inherited stock used for determining gain or loss is the estate tax value, which is usually the...

June 11, 2015 10:22 am

Under the home sale exclusion rules, you can use part of the exclusion if you cannot meet the two-year test for owning and living in the home under certain conditions. The failure to meet the test mus...

June 11, 2015 10:09 am

You can take a tuition and fees deduction only for a dependent, so if your granddaughter is not your dependent, you’re out of luck. If she were your dependent, the deduction is capped at $4,000 (you...

June 11, 2015 10:07 am

Yes. An election worker, who may be compensated by a set fee per day or a stipend for an election period, may be referred to by various terms (e.g., poll worker, moderator, machine tender, checker, ba...

June 11, 2015 10:05 am

On 2014 returns, taxpayers can choose to deduct state and local income taxes or state and local sales taxes. Those who opt to deduct state and local sales tax take the amount of their deduction from a...

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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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2015 Tax Supplements

The 2015 e-supplements for these titles are now available!

  • Your Income Tax 2015
  • 1001 Deductions and Tax Breaks 2015
  • Small Business Taxes 2015

Click here to download your FREE supplements.

View Prior Year Supplements.

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“Congress can raise taxes because it can persuade a sizable fraction of the populace that somebody else will pay.”— Milton Friedman, economist