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The IRS’s annual list of the Dirty Dozen Tax Scams has been released. Taxpayers who use or fall victim to these scams expose themselves to additional taxes, penalties, and in some cases, criminal pr...

Employer payments for your health coverage are fully tax free. This rule does not change in 2014 when the health care mandates go into effect. But are cash payments that an employer pays to an employe...

FreeFile is a no-cost way to figure your taxes online and submit your federal return electronically. FreeFile for 2013 returns opens on January 17, 2014 (although the IRS will not begin to process ind...

Each year the IRS announces cost-of-living adjustments to dozens of tax items, including standard deductions, personal exemptions, and retirement plan contribution limits. But there are some dollar am...

The Protecting Americans from Tax Hikes (PATH) Act of 2015, which extended permanently or temporarily dozens of tax rules, impacts various breaks for education and educators. The changes affect 2015 r...

Things don't always go as expected. Storms, thefts, injuries, and other unexpected events wreak havoc with financial plans. Fortunately, the tax law provides some relief in the form of deductions, exc...

If you work, you can contribute to a Roth IRA, but only if your modified adjusted gross income is below set limits. What happens if you contributed to a Roth IRA during 2015 (for the 2016 tax year) bu...

Yes. As part of the PATH Act, signed into law on December 18, 2015, the tax-free treatment applies to transfers from IRAs to public charities up to $100,000 per year by those age 70-1/2 and older appl...

The IRS has released the 2018 contribution limits for health savings accounts (HSAs), as well as the requirements for high-deductible health plans (HDHPs), since you can only contribute to an HSA if y...

It depends on the source of the reimbursement. If the school is reimbursing you for an overpayment because you received a scholarship or withdrew from a course, the payment isn’t taxable if it�...