The 5 most asked tax questions   By Lisa Greene-Lewis March 11, 2014 11:20 AM   . View photo Thinkstock   Tax season is in full swing, and with it comes a wide range of tax questions from filers. Whether they’re questions about if you can claim your parent as a dependent or if you … More 5 most asked tax questions

by Gregory Ferenstein (@ferenstein) Next Story Huzzah for convenience! Americans can now download their tax returns directly from the IRS. Previously, citizens had to slog through a questionnaire and wait 5-10 business days for a physical form through snail mail. I tried out their new service today and, after spending about two minutes answering security … More You Can Now Download Your Tax Returns From The IRS

By Kelly Phillips Erb January 5, 2014 2:12 PM Party Hats Party Hats (Photo credit: Pinti 1) Tax season opens in 26 days. And here’s my big prediction: a lot of taxpayers will be taken by surprise. Despite all of those “no new taxes” type promises, tax bills are expected to edge higher for a … More What You Need To Know About Taxes In 2014: Expired Tax Breaks, Obamacare Penalties & More

January 7, 2014   By Jeff Stimpson The Affordable Care Act — along with its accompanying enrollment Web site and new taxes and tax breaks — has opened up a host of questions for the taxpaying public, ramping up the usual levels of pre-tax season taxpayer confusion. “Forty of the 500 provisions in the ACA … More Tax Pros Face Obamacare Questions

January 3, 2014   By David Voreacos   Bloomberg (Bloomberg) H. Ty Warner, the billionaire creator of Beanie Baby plush toys, asked a judge to give him probation, not prison, for evading taxes on secret Swiss accounts that held as much as $107 million. Warner, 69, faces 46 months to 57 months in prison under … More Beanie Baby Billionaire Seeks to Avoid Jail for Tax Evasion

By Michael Cohn On top of the other problems associated with the troubled rollout of the federal government’s online health insurance exchange, the Internal Revenue Service is now being urged to strengthen the security for the tax credits it will be providing to help taxpayers afford the cost of the insurance premiums. J. Russell George … More IRS Needs to Improve Security for ObamaCare Tax Credits

Washington, D.C. (November 12, 2013)   By Michael Cohn The Internal Revenue Service said it is sending letters in November and December to tax preparers suspected of filing inaccurate claims for the Earned Income Tax Credit. In an email to tax professionals on Tuesday, the IRS said the letters detail the critical issues identified on … More IRS Sends Warning Letters to Tax Practitioners on Inaccurate EITC Claims

Washington, D.C. (November 14, 2013)   By Michael Cohn The head of the Internal Revenue Service’s small business unit said his division expects to move from focusing on audits of small corporations to partnerships. Faris Fink During a speech at the American Institute of CPAs’ National Tax Conference in Washington, D.C., last week, Faris Fink, … More IRS Plans to Step up Audits of Small Business Partnerships

By: Kelly Phillips Erb at http://www.forbes.com/sites/kellyphillipserb/2013/01/15/irs-announces-2013-tax-rates-standard-deduction-amounts-and-more/     The IRS has released the tax tables for 2013 as well as the cost-of-living adjustments for inflation for certain tax items. But wait… before you read any further, promise me something? You understand that these are the applicable rates for the tax year 2013, right? They are NOT … More 2013 Tax Rates, Standard Deduction Amounts and More

Today we want to express our happiness and excitement as a result of an official announcement regarding same-sex marriage and taxes.   Married same-sex couples gain equal tax benefits By Jeanne Sahadi  @CNNMoney August 29, 2013: 2:58 PM ET Edie Windsor took her tax dispute to the Supreme Court and won a landmark ruling in … More Married same-sex couples can officially file MFJ for federal purposes!