Income Tax
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6 Common Income Tax Myths
While millions of American taxpayers wait for their W-2, 1099 and other important tax documents to arrive in the mail, their thoughts turn to the often-dreaded prospect of filing their 2014 tax returns.
New Report Looks at 2014 Income Tax Changes and New Savings Accounts for Disabled Americans
Thomson Reuters Checkpoint has released a new special report, Tax Increase Prevention Act of 2014 Extends Many Tax Breaks Through 2014 and Provides for New Tax-Favored “ABLE” Accounts for Disabled Individuals. The report looks at the year-end tax package
When to Expect a 2015 Income Tax Refund from the IRS
It's almost that time of year again... Tax season. And one of the top-searched questions each new year, at least until around April 15, is "When can I expect my income tax refund?"
Taxpayers with an IRA Account Can Still Cut 2014 Income Taxes
The year 2014 may be officially in the past, but there's still time for many Americans to gain notable tax savings.
IRS Says Income Tax Season to Start January 20
Following the passage of the extenders legislation, the Internal Revenue Service announced today it anticipates opening the 2015 filing season as scheduled in January.
Tuition Tax Deductions: There’s Still Time for One More 2014 Tax Break
For parents who have children in college, or for the students themselves, there may be at least one more check you should send out before the end of the year: the tuition payment for the upcoming semester. By paying this bill before 2015, you may ...
The Tax Benefits of Buying a New Car Before the End of the Year
Under the new tax law signed by the president on December 19, taxpayers can claim an optional tax deduction on their personal 2014 returns for state sales tax paid this year. And the sales tax you pay on a vehicle – usually, a significant amount – may ...
Last Chance for Tax Exempt IRA-to-Charity Transfers
The time for clients to take required minimum distributions from their IRAs is rapidly dwindling. They have until December 31, 2014 to arrange for an RMD for the 2014 tax year. Otherwise, they could be slapped with a stiff tax penalty.