With these Tax Preparation Tips, we will be able to maximize your refund.
Find out how you can get a higher refund here, when preparing your taxes.
Individuals with foreign financial accounts over certain thresholds must include the earnings as income on their tax returns and report the accounts annually or face serious tax penalties. In 2009, the IRS commenced a program to encourage taxpayers wh…
That’s what one taxpayer learned from the Tax Court (Toni Harris, TC Summary Opinion 2018-12). The taxpayer was a Walmart employee enrolled as an undergraduate student at a state college. She registered for 12 credits, but had to withdraw due to a fam…
More than 60 percent of Americans are stressed about money, according to a survey from the American Psychological Association. And as spring approaches, the oft-cited stress of tax season doesn’t help. The good news is you can alleviate some …
More than 60 percent of Americans are stressed about money, according to a survey from the American Psychological Association. And as spring approaches, the oft-cited stress of tax season doesn’t help. The good news is you can alleviate some …
As a freelancer, you get to be your own boss, work with clients on projects you’re passionate about, set your own hours, and work wherever you want. But there’s one thing about freelancing you don’t have a choice in – and that’s taxes.As with any job, …
The Tax Cuts and Jobs Act lowered tax rates and made other changes that impact withholding on wages and other taxable compensation. Employees do not have to complete a revised Form W-4; employers will compute withholding based on existing W-4s on file…
A divorce decree required a spouse to continuing paying the expenses on a home in which his ex-spouse lived. And when the home was sold, he was required to pay her half the net proceeds, which he did. He deducted the proceeds as alimony, but the Tax C…
Health savings account contributions are only permitted if the taxpayer is covered by a high-deductible health plan meeting IRS tests (HDHP). The IRS has taken the position that treating male sterilization and male contraceptive services as preventive…
The interest rates on overpayments and underpayments are increasing by 1% for the second quarter of 2018, which runs from through April 1, 2018 through June 30, 2018 (Rev Rul. 2018-07). The rates are:• Noncorporate overpayments and underpayments: 5%• …
Time is running out for taxpayers who are owed refunds for 2014 to claim them. They must file a 2014 income tax return no later than April 17, 2018, in order to obtain a refund. The IRS points out that many low- and moderate-income workers may be elig…
