April 14, 2015
The new Pub. 590-B applies to 2014 tax returns filed in 2015. Two aspects that have often befuddled taxpayers in the past are the RMD rules for Roth IRAs and the options available when inheriting traditional IRAs.
April 14, 2015
In his sixth year in office, President Obama’s taxable income has continued to decline, according to his 2014 tax return.
April 9, 2015
Generally, your deduction for an IRA contribution is phased out if you are an active participant in an employer-sponsored retirement plan (or your spouse is an active participant, if married) and your modified adjusted gross income (MAGI) exceeds an ...
April 6, 2015
During the announcement of his candidacy for president last month, Cruz kicked off another controversy by advocating the elimination of the IRS. He said that the U.S. could impose a “simple flat tax that lets every American fill out his or her taxes ...
April 6, 2015
For these procrastinators, the rush is on. The IRS is offering reminders for these last-minute income tax filers.
April 1, 2015
Here are 10 important things the American Institute of CPAs recommends that taxpayers know about getting their federal tax return to the Internal Revenue Service (IRS) by the Wednesday, April 15 filing deadline and about filing for an extension.
March 31, 2015
The American Institute of Certified Public Accountants has sent a letter to the Senate Finance Committee Tax Reform Working Group on Business Income Tax that makes suggestions about how to simplify business income tax.
March 30, 2015
The nation's largest society of professional accountants is telling Congress that tax reform isn't just something to think about, it's something needed soon.
March 23, 2015
Taxpayers still have time to decrease their 2014 taxes by contributing to an IRA. In most cases, doing so can help them qualify for a deduction or even a tax credit.
March 19, 2015
For taxpayers who haven’t yet filed their taxes, the IRS has this advice: don’t panic. Taxpayers who need more time to complete their tax return can request an automatic six-month extension.
March 19, 2015
The Internal Revenue Service is reminding taxpayers who receive requests from the IRS to verify their identities that the Identity Verification Service website, idverify.irs.gov, offers the fastest, easiest way to complete the task.
March 14, 2015
Reports are popping up around the country that unlicensed and crooked income tax preparers are telling taxpayers that they need to make the Affordable Health Care Act's individual shared responsibility payments directly to the tax preparer. Obamacare is..