September 16, 2014 8:30 am

It depends. HH bonds were issued in exchange for E and certain other bonds to enable bondholders to continue deferring the tax on the interest that accrued. The Treasury stopped issuing HH bonds in 20...

September 16, 2014 8:30 am

Taxes are complicated, so it’s no wonder that everyone makes mistakes from time to time. But some actions go beyond incorrect arithmetic or thinking something is deductible when it’s not. Some act...

September 16, 2014 8:30 am

Only a taxpayer, or a representative with a taxpayer’s permission, can obtain copies of previously filed tax returns. Ask your parents to take action:They can request a free copy of a transcrip...

September 9, 2014 11:41 am

IRS interest rates are unchanged for the fourth quarter of 2014 (October 1, 2014, through December 31, 2014). These are the rates changed on underpayments and overpayments:3% for overpayments (2%...

September 2, 2014 8:30 am

There’s no flat tax for individual taxpayers. Because of graduated income tax brackets, phase-outs of certain write-offs, and additional taxes that can apply, determining your tax rate isn’t easy....

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September 9, 2014 11:41 am

IRS interest rates are unchanged for the fourth quarter of 2014 (October 1, 2014, through December 31, 2014). These are the rates changed on underpayments and overpayments:3% for overpayments (2%...

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...

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September 16, 2014 8:30 am

Taxes are complicated, so it’s no wonder that everyone makes mistakes from time to time. But some actions go beyond incorrect arithmetic or thinking something is deductible when it’s not. Some act...

September 2, 2014 8:30 am

There’s no flat tax for individual taxpayers. Because of graduated income tax brackets, phase-outs of certain write-offs, and additional taxes that can apply, determining your tax rate isn’t easy....

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...

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September 16, 2014 8:30 am

It depends. HH bonds were issued in exchange for E and certain other bonds to enable bondholders to continue deferring the tax on the interest that accrued. The Treasury stopped issuing HH bonds in 20...

September 16, 2014 8:30 am

Only a taxpayer, or a representative with a taxpayer’s permission, can obtain copies of previously filed tax returns. Ask your parents to take action:They can request a free copy of a transcrip...

September 2, 2014 8:30 am

In the case of a joint tenancy with someone who is not a spouse and who did not contribute anything, the basis depends on the estate tax value of the property (even if the estate is too small to be re...

September 2, 2014 8:30 am

Once you are enrolled in Medicare, you are no longer eligible to contribute to an HSA. Your contributions must be prorated for the period in which you have a high-deductible health plan (HDHP). Thus, ...

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 ...

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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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“I trust that the Congress will give its immediate consideration to the problem of future taxation. Simplification of the income and profits taxes has become an immediate necessity.”— President Woodrow Wilson said this nearly 100 years ago