Tax News

May 17, 2016 11:23 am

If you work, you can contribute to a Roth IRA, but only if your modified adjusted gross income is below set limits. What happens if you contributed to a Roth IRA during 2015 (for the 2016 tax year) bu...

April 22, 2016 11:07 am

As you file your 2015 income tax return, you may find that the government owes you money. Last year (2014 returns filed in 2015), the average refund amount was more than $2,800. Here's what you shoul...

April 11, 2016 12:51 pm

Things don't always go as expected. Storms, thefts, injuries, and other unexpected events wreak havoc with financial plans. Fortunately, the tax law provides some relief in the form of deductions, exc...

March 25, 2016 12:45 pm

It is often said that timing is everything. When it comes to the submission of tax returns, Tax Court petitions, and other time-sensitive tax actions, this statement is true because they must be compl...

March 11, 2016 12:37 pm

The Protecting Americans from Tax Hikes (PATH) Act of 2015, which extended permanently or temporarily dozens of tax rules, impacts various breaks for education and educators. The changes affect 2015 r...

February 26, 2016 10:40 am

Even though 2015 has ended, there are still some actions you can take to reduce your tax bill for 2015.1. Contribute to a traditional IRAIf you have earned income from a job or self-employment...

February 12, 2016 12:22 pm

Keeping good records makes tax preparation easier and ensures that you claim every tax break to which you are entitled. It's not too late to get your records in order and be prepared for tax season. ...

January 29, 2016 10:23 am

If you are legally married, you must file a joint federal income tax return unless you choose to file separately. This rule applies to both opposite sex- and same-sex married persons. There are certai...

January 15, 2016 10:17 am

When you sell stocks, bonds, and mutual fund shares, your gain or loss depends on your basis in the securities. Keep in mind that the higher the basis, the lower the gain or greater the loss. Tax rule...

January 13, 2016 9:32 am

The IRS is often painted as the bad guy taking advantage of taxpayers. For the most part, IRS personnel act professionally in dealing with taxpayers. However, from time to time there are some bad appl...

December 29, 2015 10:16 am

Under the Affordable Care Act, every individual must have minimum essential health coverage or face a tax penalty unless eligible for an exemption. Now is the time to get ready for 2016 by checking yo...

December 9, 2015 10:10 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...

November 23, 2015 10:08 am

About three million postgraduate students were expected to enroll this year. As a rule, the cost of graduate school is very pricey. Some students can obtain fellowships and grants to defray some or al...

November 9, 2015 10:01 am

The last quarter of the year is the time to think about charitable giving and the tax ramifications. Here are five tips to help you.1.     Check the organizationYou can make tax-deductible...

October 26, 2015 9:59 am

Congress recently passed two measures—the Trade Preferences Extension Act of 2015 and the Surface Transportation and Veterans Health Choice Improvement Act of 2015—that include a number of tax law...

October 12, 2015 12:36 pm

After years of stagnation due to poor economic times, companies are now starting to increase employees’ pay. If you get a raise, congratulations! Here are five actions to take so you can benefit—t...

September 28, 2015 12:32 pm

Stories abound about innocent taxpayers being hounded by the IRS and forced to incur extensive legal fees to fight back. A dispute can drag on for years and taxpayers may have to litigate before the I...

September 14, 2015 12:21 pm

When you receive a distribution from a qualified retirement plan or IRA, you have 60 days from receipt to deposit the funds into another qualified retirement plan or IRA. If you don’t, you will be t...

August 31, 2015 12:08 pm

While the Bernie Madoff scam came to light in 2008, there continues to be a seemingly unlimited number of fraudulent investment schemes afoot. Those promoting these schemes can be very convincing, and...

July 20, 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...

Page 2 of 2212345...1020...Last »
advertisement
Tax Glossary

Education IRA

See Coverdell Education Savings Account.

More terms