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E-file is the IRS system for submitting tax returns electronically. E-filing can be done through a paid preparer or by using a home computer (through commercial software or the FreeFile program). Go...

The stock market can be up 500 points one day and down a similar amount the next. The swings in the market make investment moves challenging. Here are the tax rules you need to know about your securi...

Medical residents may receive stipends for work they perform in the course of their studies. Are these stipends treated as wages for the purposes of Social Security and Medicare (FICA) taxes? It depen...

Even though the distribution represents your 2022 RMD, it’s includible in gross income in 2023, the year in which it is received. What’s more, the 2023 distribution must be taken by December 31, 2...

The Office of the Taxpayer Advocate is an independent organization within the IRS that assists taxpayers who are experiencing economic harm and also advises the IRS on issues that need to be addresse...

The top rate on most long-term capital gains and qualified dividends for regular tax purposes is 15%. But there's a trap: Taxpayers with such income who are subject to the alternative minimum tax...

Withdrawing funds in a qualified retirement plan or IRA before age 59-1/2 can result in a 10% early distribution penalty unless a special exception to the penalty applies. These exceptions include wi...

Each year, the IRS is required to adjust various amounts used to figure contributions, benefits, deductions, and credits related to qualified retirement plans and IRAs due to cost-of-living increases....

A wrongful death settlement of compensatory damages is nontaxable because it is the result of a claim arising from personal physical injury or illness. However, if the settlement includes punitive dam...

With summer around the corner and the real estate market ripe for the picking (because real estate prices and mortgage interest rates are both down), the number of owners of vacation property could gr...