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In today's tough economy, investments in personal portfolios, 401(k) plans, and individual retirement accounts (IRAs) may be down. Fortunately, the tax law lets you ease your financial pain by claimin...

The hurricane season is upon us and many taxpayers around the country have already experienced devastating property losses from tornadoes, floods, wildfires, and other natural disasters this year. The...

You may have a generous spirit and the means to help your favorite nonprofit organization, but unless you follow tax rules you won't enjoy tax breaks to which you might otherwise be entitled. Ca...

If you have a high outstanding balance on your credit card, you may be able to negotiate with the credit card company for a reduced settlement. While such a settlement can save you thousands of dollar...

Those with divorces or legal separation agreements finalized before 2019 are subject to old alimony rules. These rules allow payors to deduct payments, while recipients must report the payments as inc...

If you use your car for deductible moving or medical purposes, you can add the cost of driving based on a standard mileage rate. For 2008, the rate is 19...

Relatives may receive Medicaid payments for the care of a disabled child in the caregiver’s home. Previously, the IRS said such payments are treated for income tax purposes as “difficulty of care ...

The IRS has been using various technologies to improve customer service, one of which is voice bots. To date, voice bots have answered over 3 million taxpayer calls. Now taxpayers can use voice bots t...

The IRS interest rates on overpayments and underpayments for the second quarter of 2023 are the same as the rates for the first quarter of 2023 (Rev. Rul. 2023-4). The rates beginning April 1, 2023, a...

The Small Business Jobs Act of 2010 passed the Senate on September 16, 2010, and is expected to pass the House soon and be signed into law. The Act contains $12 billion in tax cuts and is designed to ...