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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...

You probably have been paying taxes throughout the year—through withholding on wages and certain other payments or with estimated taxes. However, when it comes time to file your return, you may find...

The IRS provides a wealth of preliminary tax data for tax year 2015 in the Spring 2017 Statistics of Income Bulletin (SOIB). The data is based on a sample of 257,083 individual income tax returns for ...

The devastation to Houston and a large part of Texas and beyond because of Hurricane Harvey is historic. Homes and businesses have been lost, and it will take months or years for some areas to recover...

Homeowners who participate in the Household Finance Agency’s program for distressed homeowners may use a safe harbor for figuring their annual itemized deduction related to their homes. More specifi...

MyRAs, which are a type of “mini-Roth IRA,” began in a pilot program in 2014 and went nationwide in 2015. However, due to the lack of interest and high cost to U.S. taxpayers in MyRAs, at the of J...

In response to Hurricanes Harvey, Irma, and Maria, which impacted people in Texas, Louisiana, Florida, Georgia, Puerto Rico, and the U.S. Virgin Islands, the IRS has provided various types of tax reli...

Social Security beneficiaries will receive a cost-of-living adjustment (COLA) of 2% starting with the December 2017 benefits, which are payable in January 2018. For 2017, the COLA was only 0.3%. The 2...

Individuals who provide information to the IRS may be eligible for a monetary award under Code Sec. 7623. There are two types of awards: discretionary and nondiscretionary. The award in the discretion...

The IRS has said  (https://www.irs.gov/tax-professionals/aca-information-center-for-tax-professionals) that it will not accept electronically filed returns for processing during the 2018 filing seaso...

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