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Courtesy of irs.gov Your children may help you qualify for valuable tax benefits. Here are eight tax benefits parents should look out for when filing their federal tax returns this [...]

Courtesy of irs.gov If you have a child under age 17, the Child Tax Credit may save you money at tax time. Here are some key facts the IRS wants [...]

To support a charitable deduction, you need to comply with IRS substantiation requirements. This generally includes obtaining a contemporaneous written acknowledgment from the charity stating the amount of the donation, [...]

If your use of a home office is for your employer’s benefit or because you’re self-employed, you may be able to deduct a portion of your mortgage interest, property taxes, [...]

Courtesy of irs.gov Using the correct filing status is very important when you file your tax return. You need to use the right status because it affects how much you [...]

Which form should you use to file your federal income taxes? Today, most people use a computer or CPA firm to prepare federal income tax forms. But if you decide [...]

The Internal Revenue Service requires employers to get their employees their earnings information by the end of each January. But if your Form W-2 never arrives, you can create your [...]

In an increasingly common scam, identity thieves use victims’ personal information to file fraudulent tax returns electronically and claim bogus refunds. When the real taxpayers file their returns, they’re notified [...]

January 28, 2014   Suggestions courtesy of IRS.gov Do you need to file a federal tax return this year? Perhaps. The amount of your income, filing status, age and other factors [...]

Under the Affordable Care Act (ACA), beginning in 2013, taxpayers with FICA wages over $200,000 per year ($250,000 for joint filers and $125,000 for married filing separately) had to pay [...]

Fresh Start for Struggling Taxpayers Courtesy of irs.gov In many cases, those struggling to pay taxes qualify for one of several relief programs. Most people can set up a payment [...]

Courtesy of and By Michael Cohn                               Washington, D.C. (January 20, 2014)   The Internal Revenue Service has released a set of proposed regulations to prevent abuses of the partnership basis [...]

Now that we’re in the new year, it’s time for an estate plan checkup. Why? First, various exclusion, exemption and deduction amounts are adjusted for inflation and can change from [...]

Many valuable tax breaks expired at the end of 2013. But Congress probably will revive at least some of them, likely retroactively to Jan. 1, 2014. The question is exactly [...]

Make note of the following federal income tax changes that took effect in 2013. Higher tax rates for upper-income individuals Itemized deduction phase-out rule for upper-income individuals New 3.8 percent [...]