October 23, 2014 2:33 pm

The Social Security Administration announced the 2015 wage base used for figuring the Social Security portion of FICA and self-employment tax. For 2015, this wage base is $118,500, up from $117,000 in...

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 21, 2014 8:30 am

The starting point is determining whether you have a gain or loss. If you have a gain, your other buying or selling activities have no impact on reporting the gain. If you have a loss and buy substant...

October 21, 2014 8:30 am

A child who is unrelated to the person who provides support may be able to claim a dependency exemption if the child is a qualifying relative. Even though there are no blood ties, a qualifying relativ...

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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October 23, 2014 2:33 pm

The Social Security Administration announced the 2015 wage base used for figuring the Social Security portion of FICA and self-employment tax. For 2015, this wage base is $118,500, up from $117,000 in...

October 3, 2014 10:15 am

The IRS reports that 13 million taxpayers are on extension for filing their 2013 returns. If you are one of them, don’t miss the filing deadline of October 15, 2014; returns filed after this date ar...

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...

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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...

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 ...

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October 21, 2014 8:30 am

The starting point is determining whether you have a gain or loss. If you have a gain, your other buying or selling activities have no impact on reporting the gain. If you have a loss and buy substant...

October 21, 2014 8:30 am

A child who is unrelated to the person who provides support may be able to claim a dependency exemption if the child is a qualifying relative. Even though there are no blood ties, a qualifying relativ...

October 7, 2014 8:30 am

Once you enroll in Medicare (April 1, 2015), you are no longer eligible to contribute to an HSA. You can, however, contribute to an HSA for the months prior to this date (assuming you are covered by a...

October 7, 2014 8:30 am

When a person cannot handle his or her financial affairs because of physical or mental impairment and did not make arrangements (e.g., a durable power of attorney or trust) prior to impairment, a cour...

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...

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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
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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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“Unlike some other kinds of legislation, tax laws are not enacted for the ages, but for the special exigencies of a particular time and discrete circumstances. Change in the tax laws is a way of life.”— From an appellate court decision Feldman v. Commissioner, 791 F.2d 781 (9th Cir. 1986)