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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...

When you have a new baby, there are a number of special tax rules that apply to you. While they probably won't offset the cost of caring for your new family member, they will provide some tax relief. ...

The tax law is a moving target. If you look at any given moment, you’ll see rules that may disappear at a later glance. In the past several months, JKLasser.com has been asked about each of the foll...

The IRS reports that 13 million taxpayers are on extension for filing their 2013 returns. If you are one of them, don’t miss the filing deadline of October 15, 2014; returns filed after this date ar...

The worldwide pandemic—Covid-19—has changed everything…taxes included. Congress has enacted a new law (Families First Coronavirus Response Act, H.R. 6201, or “the Act”), to provide economic ...

The American Rescue Plan Act, which was signed into law on March 11, 2021, dramatically changed the child tax credit for 2021. The law made the credit fully refundable and extended it to dependents 17...

Whether you prepare your return yourself (on paper or electronically) or use a paid preparer, you need information to input. Hopefully, you’ve kept great records throughout the year to simplify your...

Coverdell Education Savings Accounts, or ESAs, were greatly enhanced by the Economic Growth Tax Relief Act of 2001 as a tax-advantaged way to pay for education. However, the provisions in that act are...

Homeowners at risk for defaulting on their mortgages may qualify for pay-for-performance payments under the Home Affordability Modification Plan (HAMP), a program that is part of the Homeowner Afforda...

Roth IRAs offer the opportunity to build up tax-free income for your future. You can use this income in retirement at no tax cost or leave the money as a tax-free inheritance for your spouse, children...