Thinking of buying a home now? You may be able to cut your 2008 income taxes if you do. If you buy a primary residence after December 31, 2008, and before December 1, 2009, and you meet other eligibil...
Thinking of buying a home now? You may be able to cut your 2008 income taxes if you do. If you buy a primary residence after December 31, 2008, and before December 1, 2009, and you meet other eligibil...
A $1.72 trillion omnibus spending bill, which was signed into law on December 29, 2022, funds the federal government through the end of its 2023 fiscal year ending September 30, 2023. Tax-wise the cha...
It looks like Wesley Snipes is going to jail. An appellate court has upheld his conviction on tax evasion and his sentence of 36 months in prison. The case involved three years in which the actor f...
Each year, more and more individuals use tax preparation software to complete and file their tax returns. However, a recent case demonstrates that failing to properly report taxes is not necessarily e...
As a supplement to the Patient Protection and Affordable Care Act, which was signed into law on March 23, 2010, Congress has made a few tweaks, including: A tax of 3.8% of the lesser of the individua...
The Patient Protection and Affordable Care Act, which was signed into law on March 23, 2010, mandates that every American, with few exceptions, have health coverage starting in 2014. Failure to obtain...
The IRS reported in its latest Statistics of Income Bulletin that the number of taxpayers making noncash charitable contributions increased between 2006 and 2007. More specifically, for 2007, 23.8 mil...
Taxpayers with adjusted gross income of $73,000 or less can use Free File to prepare and file their 2021 federal income tax return. Usually, Free File remains open until the extended due date…Octobe...
After more than 30 years, the opportunity for low-income workers to receive the earned income credit on an advanced basis has ended. Effective after 2010, eligible workers will have to wait until they...
Reversing its prior position, the IRS has now concluded that the cost of breast pumps and supplies that assist lactation are medical care. Like obstetric care, the lactation equipment affects the stru...