Income Tax

So, what can a taxpayer do if they didn't file in time, but they also don't want to keep their head buried in the sand? For most Americans who are owed a tax refund by the IRS, there's no need to panic. The tax agency doesn't assess penalties when a ...

Millennials are about to get millions of dollars from the IRS. What they plan on doing with it may tell us whether they will be the frugal types they are sometimes credited with, or will follow in the free-spending footsteps of the generation before them.

With only a few hours to go before the April 15 deadline to file income tax returns, some who got a late start or need more time may contemplate filing a six-month extension.

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.

Usually, a transaction that occurs during the tax year is reflected on the tax return for that particular year. For instance, if you realize a capital loss on the sale of stock in 2015, the loss offsets tax liability on your 2015 return.

In his sixth year in office, President Obama’s taxable income has continued to decline, according to his 2014 tax return.

April 15 is ingrained, implanted permanently in most Americans' minds as the deadline for filing annual income taxes with the Internal Revenue Service. But what if I told you that you don't really have to file your form 1040 by April 15?

The U.S. Bureau of Labor Statistics recently reported 2.7 million people quit their jobs in February, up by nearly a quarter million year over year, and separate research suggests below-market compensation could be one of the causes of continuing turnover. In a new survey from global staffing firm Robert Half, one in four (25 percent) […]