Getting an Extension for the 60-Day IRA Rollover Period

If you take a distribution from your IRA and want to avoid any tax on it, you must roll it over-to the same IRA, a new IRA, or a qualified retirement plan-within 60 days. The 60 days is fixed by law. The 60-day period begins the day after the date of receiving the distribution and includes weekends and holidays (e.g., there is no extra time when the 60th day falls on a Sunday). More

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Picture of Tax Filings and Audits Last YearFree

The IRS has released its annual Data Book, which covers filing and audit activities for the government's fiscal year ending September 30, 2009. It shows some interesting facts: …More

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Tax Tips

For taxes, age matters!Free

Attaining a certain age means you can claim extra tax breaks. Starting at 50, you can add more money to an IRA or a company retirement plan. At 55, you can contribute an extra amount to a health savings account. At 65, you get an extra standard deduction. …More

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Ask JK Lasser

Q: What is the proper way to report deductions when moving a home office from one home to another?Free

— Submitted by Martha

A: You should file one Schedule C but two Forms 8829 — one representing the income and deductions attributable to the portion of the year you owned the old house, and the second representing income and deductions attributable to the portion of the year you used the new house for …More

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Small Business Help

Report It All!

Don't neglect to report all your business income. Report any interest on business bank accounts, recoveries of previously deducted bad debts, and any loan forgiveness (unless you opt to reduce certain tax attributes that will impact your taxes down the road).

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