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Payments can be treated as deductible alimony only if they meet certain requirements. One key requirement is that the payments are made pursuant to a decree of divorce or a written instrument incident...

Through the tax filing deadline of April 18, 2011, the IRS has reported that there were almost 101 million e-filed returns, representing an 8.8% increase from last year. This makes nearly one billion ...

Colorado allows its residents to claim a tax credit for conservation easement donations up to certain limits. Credits above the limit can be carried forward or sold to others. Does the sale of these c...

According to the latest IRS Data Book covering the government's fiscal year ending September 30, 2010, the overall audit rate on individuals increased slightly to 1.1%; it had been 1% in the 2009 fisc...

The Court of Appeals for the Sixth Circuit has affirmed a district court decision that the requirement to purchase health coverage, which was created by the Patient Protection and Affordable Care Act ...

The National Taxpayer Advocate has released a report identifying the priority issues that the Taxpayer Advocate Service (TAS) plans to address in the coming fiscal year. Key areas of focus: Taxpayer ...

Withholding from employees’ paychecks—income taxes and FICA—is referred to as trust fund taxes because the employer is holding them in trust for employees until deposited with the U.S. Treasury....

The IRS has announced an app for the iPhone and Android called IRS2Go. It allows taxpayers to find out the status of their refunds and other tax information. Information on tax refunds will be availab...

As part of a deficit reduction plan, the proposals contain some tax increases. If the proposals are adopted, itemized deductions would be capped at the 28% tax bracket. Individuals with income over $2...

The IRS announced that due to higher gasoline prices, the standard mileage rates have been increased starting July 1, 2011, by 4.5¢. The last time the IRS increased the rate midyear was 2008. Th...