Tax Law

In order to avoid problems, secure and report all Forms W-2 on your tax filing. IRS does what is called a matching report 12-18 months after the tax season. Any missing 1099s or W-2s will be part of a proposed adjustment. Forgetting to report income could result in...

Choosing a bad tax preparer could be devastating. Missing deductions or credits, erroneous positions, blown filing deadlines and bad advice are some of the potential downside to picking the wrong person to prepare your tax return.  Here are a few tips on...

There are still many taxpayers that do not trust the E-file system. There are always risks involved with any transaction but the benefits clearly outweight the risks. Remember to use a qualified tax preparer. Below are several reasons to E-file your tax return. Six...

With tax season approaching and with the IRS seeking additional funds for the Treasury, a taxpayer should know their rights. While all of the rights are important, getting good counsel or representation is critical in your dealings with the Internal Revenue...

It is a good idea to take a few simple steps to avoid having IRA problems. Required Minimum Distributions, over contributions, not designating beneficiaries. Take a few minutes and review your IRA. Avoid a trip to the tax emergency room.  Top Year-End IRA...

Most charities realize that individuals are more apt to make a donation towards the end of the tax year than ealier in the year. Factor in the holidays and even more reason to think that Americans will be generous at year end.It is good to be generous but it is also...

If you have a balance due with the IRS, your retirement accounts can be seized. Usually a retirement asset is not the first asset to be garnished but the IRS has the authority to levy upon your retirement account. The levy on the retirement account...

The mere fact that you have job search expenses does not make them deductible or will save you a great deal on your income taxes. Here is a good summary of the treatment of job search related expenses. Note that the savings are probably not as great as one may think....

Divorce changes everything. Not only will your living situation change, assets you own, but the tax treatment of monies you pay or receive from your ex-spouse. Don't wait till tax time to find out about your Agreement with your ex. Surprises are rarely good. Key Tax...

Do not avoid paying your income taxes. The IRS has plenty of enforcement tools to pummel you into paying the taxes. Here are some tips to deal with the problem and ways to lessen the pain. IRS Tips to Help People Pay Their TaxesIf you owe tax, the IRS offers safe and...