February 24, 2017 8:00 am

If the distribution was a required minimum distribution, it cannot be rolled over to an IRA (the proceeds can be used to fund an IRA if you are eligible to make an IRA contribution for the year). If t...

February 24, 2017 8:00 am

No. A taxpayer who has not reported interest annually but opted to defer it must take all of the accrued interest into income on the earlier of these events:When the bonds are cashed in When yo...

February 24, 2017 8:00 am

The total amount of itemized medical expenses that are deductible are entered on Schedule A of Form 1040. There is no separate form used to list the specific medical expenses. You do not have to attac...

February 24, 2017 8:00 am

There are many tax breaks that you may take if you have a qualifying child. Unfortunately, there is no single definition for all of these tax breaks. Here are the different definitions; you may be eli...

February 10, 2017 9:00 am

It may be possible to claim a dependency exemption for a relative living in Mexico. While the niece cannot be a qualifying child because she does not live with you, the niece may be a qualifying relat...

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February 24, 2017 8:00 am

There are many tax breaks that you may take if you have a qualifying child. Unfortunately, there is no single definition for all of these tax breaks. Here are the different definitions; you may be eli...

February 10, 2017 9:00 am

While home ownership in the U.S. is at historic lows (only 63.5% in the third quarter of 2016), there are still millions of individuals who own their own homes. Well, they don't necessarily own them o...

January 27, 2017 9:00 am

As you file your 2016 return, there are some new considerations. Here are 5 things you need to know.1. Key dates for the filing seasonMark your calendar for important dates impacting your 2016...

December 30, 2016 10:37 am

In the course of a marital dissolution, spouses may divvy up their financial assets. Some may take the form of property settlements, which are tax-free events, or alimony, which is taxable to the reci...

December 16, 2016 1:00 pm

The stock market has been up for the year and the real estate market is solid in many parts of the country. Between now and New Year's Eve, you may want to take actions—buying and selling—to impro...

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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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February 24, 2017 8:00 am

If the distribution was a required minimum distribution, it cannot be rolled over to an IRA (the proceeds can be used to fund an IRA if you are eligible to make an IRA contribution for the year). If t...

February 24, 2017 8:00 am

No. A taxpayer who has not reported interest annually but opted to defer it must take all of the accrued interest into income on the earlier of these events:When the bonds are cashed in When yo...

February 24, 2017 8:00 am

The total amount of itemized medical expenses that are deductible are entered on Schedule A of Form 1040. There is no separate form used to list the specific medical expenses. You do not have to attac...

February 10, 2017 9:00 am

It may be possible to claim a dependency exemption for a relative living in Mexico. While the niece cannot be a qualifying child because she does not live with you, the niece may be a qualifying relat...

February 10, 2017 9:00 am

You cannot deduct the interest that accrues on a reverse mortgage until it is actually paid, which doesn't happen until the mortgage is paid off in full. At that time, the mortgage interest usually is...

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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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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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“I just filled out my income tax forms. Who says you can’t get killed by a blank?”— Milton Berle, comedian