There has been a plague of phone calls by fraud artists posing as IRS employees and demanding money. Between 9,000 and 12,000 complaints about these p...
Tax Tips: Charitable contributions
Americans are the most charitable people in the world, as evidenced by records of our annual donations of giving. Congress has been very generous in p...
Tax Tips: IRS budget and service cuts
The IRS is coming to grips with a $346 million budget reduction including enforcement cuts of $160 million. I wonder if it is due to its targeting cer...
TAX TIPS: Common tax myths
As our tax law becomes ever more complex, misconceptions regarding the law and its interpretation increase. Many people think that by filing an extens...
Tax Tips: Obamacare hits tax returns …
The Obamacare mandates become effective on our 2014 tax returns. The Affordable Care Act (Obamacare) requires that you have health coverage that meets...
Tax Tips: People get ready, tax season’s a comin’ …
About this time of year, we begin to collect all the information we will need to properly file our income tax returns. Since it’s been a year, I have ...
Tax Tips: Survivor — tax audit island episode …
When taxpayers receive a tax audit notice, they often feel as if they are stranded on a hostile island and danger awaits. If their record keeping is s...
Tax Tips: Charitable contributions …
Americans are the most charitable people in the world, as evidenced by records of our annual charitable giving. Congress has been very generous in the...
Tax Tips: Self-employed retirement savings plans …
Saving for retirement has never been more important. The Social Security system is being placed under increasing strain as people live longer and the ...
Tax Tips: Foreign asset reporting – watch out
Several filing requirements can apply when you own or are a beneficiary of foreign financial assets. These forms report on the specific assets themsel...