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The deduction from gross income (no itemizing required) for tuition and fees expired at the end of 2017. However, there is still some hope that it may be extended retroactively for 2018. And there is ...

It’s increasingly common for individuals to have their DNA tested through Ancestry.com and other sites in order to learn more about their family background. One site—23andMe—also offers DNA test...

The SECURE Act made some major changes in retirement plans and IRAs. It also has left many unanswered tax questions. There continues to be many that still lack clarity because the IRS has not addresse...

Because the stock loss produced a tax benefit to you, the recovery is taxable. The question is whether you report the recovery as a capital gain (since you took a capital loss) or as ordinary income. ...

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...

No. To date, Congress has not extended this tax break. However, there is considerable sentiment in Washington to do so. If there is an extension, it’s likely not to apply for 2022 returns, but monit...

What is cryptocurrency? Cryptocurrency is a form of virtual currency that can be used as an alternative fonn of payment using encryption technology, making digital money designed to be used over the i...

If you have your necessary information, you can now file your 2007 income tax return with the IRS. As of January 11, the IRS had begun to accept 2007 income tax returns, including those filed electron...

Recently released proposed regulations clarify what you must do to prove your charitable contributions. Without this substantiation, no deduction is allowed. Cash contributions The law requires tha...

On July 23, the House passed an important measure to help avert foreclosure for more than 400,000 homeowners. The Senate will vote on it soon and the President has said he would sign it. In addition ...