How the IRS resolves an identity theft case
The IRS has responded to criticism from the Treasury Inspector
General for Tax Administration and the National Taxpayer Advocate,
among others, that resolution of identity theft accounts takes too
Liability for the "nanny" tax
Employers of course have to pay employment taxes on the wages they
pay to their employees. A nanny who takes care of a child is
considered a household employee, and the parent or other
FAQ: What is the saver's credit?
Under Code Sec. 25B, a low-income taxpayer can claim a tax credit
for a portion of the amounts contributed to an individual
retirement account, 401(k) plan, or other retirement plan. A credit
How do I? File an amended return
A taxpayer who discovers an error after filing his or her income
tax return may need to file an amended return. A change in filing
status, income, deductions, or credits would require an amended
June 2015 tax compliance calendar
As an individual or business, it is your responsibility to be aware
of and to meet your tax filing/reporting deadlines. This calendar
summarizes important federal tax reporting and filing data for
New challenges for 2014 year-end tax planning
Before the fast-approaching new year, it’s important to take some
time and reflect on year-end tax planning. The weeks pass quickly
and the arrival of January 1, 2015 will close the doors to som...
How Do I? . . . Deduct student loan interest
There are tax benefits for which you may be eligible if you are
paying education expenses for yourself or an immediate member of
your family. In the rush to claim one of two education tax credits
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