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10 Income Tax Breaks for the Rich and Famous
Many federal income tax breaks are reserved for low-income families – the earned income tax credit (EITC) instantly comes to mind – but that doesn’t mean that wealthier individuals can’t get their fair share of the pie.
March Madness Tax Tips – Keep Your Betting In-Bounds with the IRS
Have you finished polishing your March Madness brackets? Whether you're betting with a small group of friends or taking part in a major pool, there are some tax implications you need to consider.
Want to Make the IRS Better? Volunteer for the Taxpayer Advocacy Panel
The Internal Revenue Service seeks civic-minded volunteers to serve on the Taxpayer Advocacy Panel (TAP), a federal advisory committee that listens to taxpayers, identifies major taxpayer concerns, and makes recommendations for improving IRS services.
Does Your Business Qualify for the Health Care Tax Credit?
Income tax filing deadlines for most small business are coming up soon, and the Internal Revenue Service is reminding small employers who offer health insurance to their employees to check out the small business health care tax credit and then claim it if they qualify.
IRS Accepting Applications for Electronic Tax Advisory Committee
The Internal Revenue Service is opening the nomination and application process for membership on the Electronic Tax Administration Advisory Committee (ETAAC). The deadline for submitting applications is April 21, 2014.
10 Major Tax Changes in President Obama’s Budget
President Obama has just released a new 2015 budget designed to raise more than $1 trillion in revenue over the next ten years by boosting income taxes for upper-income individuals, closing or tightening tax loopholes and scaling back estate tax benefits.
10 Key Points to Know About Tax Reform Proposal in Congress
Tax reform is back in on the table. On February 26, 2014, U.S. Representative Dave Camp (Rep.-Mich.), the chairman of the House Ways & Means Committee, released a much-anticipated draft of a major tax overhaul. Camp’s proposed reforms, which were three years in the making, reflect bipartisan efforts to simplify the tax code and provide equality to taxpayers.
What’s In (And Not In) Your Social Security Account?
Someone just asked TaxMama if there is a way to get her father’s earnings information from back in 1977-78. She needs it because his income in those years is not on his Social Security record.