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Whether you are an employee or a self-employed person, now is the time to start thinking about funding a retirement plan in 2011. Most of the tax rules have remained unchanged from 2010, but there ar...

The IRS has announced the new rates used for reimbursing employees on a per diem basis for their travel to certain areas within the country. For simplicity, employers can use the rates fixed by the IR...

On 2010 returns, the amount of the adoption credit is up to $13,170, and it is fully refundable. Starting with 2010 returns, however, if you want to claim the credit for adopting a child, you'll need ...

A couple that was planning to demolish their home and build a new one in its place instead donated the home to their local fire company. As part of training exercises, the company burned down the home...

An offer in compromise (OIC) is an agreement between a taxpayer and the IRS that settles a taxpayer’s tax liabilities for less than the full amount owed. Taxpayers who can fully pay the liabilities ...

Taxpayers who file Form 1040EZ...

If a taxpayer fights the IRS and wins, under certain circumstances, the taxpayer is entitled to recover attorney's fees from the federal government. Conditions for recovery: Be the prevailing party ...

IRS Commissioner Shulman announced the creation of a new office called the Return Preparer Office to handle issues related to the mechanics of registration, continuing education, and testing requireme...

Usually, in order to deduct home office expenses for conducting a business at home, the space for the office must be used regularly and exclusively for business. However, special rules apply for figur...

On September 27, 2010, the president signed into law the Small Business Jobs Act of 2010. The act contains $12 billion in tax cuts for businesses, small and large. Key tax provisions include: A ...