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Each year, the IRS releases a list of tax scams as a warning to taxpayers to beware. This year’s list has many of the same scams reported in previous years. There are some new additions (IR-2022-113...

In the coming weeks, it's back-to-school time. This can mean tax saving opportunities for you. The tax law provides a number of exclusions, deductions, and tax credits designed to encourage education...

Joint custody is common today when parents divorce, but it does not automatically confer the right to claim a dependency exemption or child tax credit for one parent or the other. Generally, the righ...

Even if your income is no higher in 2008 than it was in 2007, you can expect your tax bill to be lower. Why? Every year, cost of living adjustments to various tax items means you'll pay less than...

Generally, the value of a deceased individual's property is determined on the date of death. However, the person's estate can opt to use an alternate valuation date, which is 6 months after t...

American citizens who work abroad remain taxable in the United States on their worldwide income. However, they can enjoy certain tax breaks designed to alleviate the burden of paying taxes to two cou...

Taxpayers who used direct deposit for their 2007 refunds automatically received their stimulus checks in the same way. Direct deposits of 2007 tax refunds could have been directed not only to checkin...

You may be able to deduct the property taxes on vacant land held for investment, but you must itemize personal deductions to do so. These taxes are not subject to the limitation on state and local tax...

The Fostering Connections to Success and Increasing Adoptions Act of 2008 has passed both houses of Congress and has been sent to the White House for the President's signature, which is expected short...

You've filed your return and are waiting for the check to arrive. Use an online tool to track the check's progress. The IRS's "Where's My Refund?" application lets you see w...