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Higher education pays off in greater lifetime earnings, says the U.S. Census Bureau (https://www.census.gov/prod/2002pubs/p23-210.pdf). But higher education isn’t cheap, and most students and their ...

The IRS is holding refunds totaling $760 billion for about 918,600 taxpayers who did not file their 2010 returns. The last day to file and claim the outstanding refunds related to these returns is Apr...

According to the federal government, in 2013 more than a quarter of all people in the United States did some volunteer work. To what extent can you write off costs related to your volunteer activities...

Only a taxpayer, or a representative with a taxpayer’s permission, can obtain copies of previously filed tax returns. Ask your parents to take action: They can request a free copy of a transcrip...

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...

The Affordable Care Act (ACA) imposes an individual mandate starting in 2014: carry minimum essential health coverage for you, your spouse, and dependents under age 18 or pay a penalty. The penalty do...

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...

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 ...