You never know when you’ll face a complex tax situation that calls for outside help. When your tax issues are too complex to handle on your own, hiring a tax attorney makes sense. Not sure if you need a lawyer? Ask yourself these three questions to find out.
Every year, a million homes enter foreclosure and many more people are forced to sell back to the bank for less than their home is worth. Foreclosures and short sales are bad enough, but few people consider the tax implications — until they file their tax return and realize the worst isn’t over.
Admit it. At some point during tax season, you’ve likely had the thought: “What if I just don’t file?” Whether you skip filing or just don’t pay, that’s called tax evasion, and it can lead to stiff penalties and jail time. But you can prevent that sticky situation — even if you can’t afford to pay.
You used to be able to deduct unreimbursed expenses and job search costs on your taxes. But with the new tax law, it’s gotten a lot more complicated and fewer people qualify. Before you file this year’s return, find out if you still qualify, what costs you can deduct, and where to claim them.
The IRS has officially announced it’s pushing the due date for filing personal federal income taxes and making 2019 tax payments to July 15, 2020, due to the COVID-19 pandemic. Here’s how it will affect you.
Do tax deadlines seem to sneak up on you? April 15 isn't the only important day on the tax calendar. There are a number...
If you’re an employee, one of the many tax forms you have to file is Form W-2. And Box 12 of that form throws many taxpayers for a loop. Each of the uppercase codes you might see in Box 12 has a meaning, and understanding them is the first step to calculating your total tax liability.
There are significant tax benefits to low- and moderate-income families who save for retirement. The Retirement Savings Contributions Credit ("Saver’s Credit") could help you reduce your tax liability. A reward for building your financial security? That’s what we call a win-win.
Thanks to the Tax Cuts and Jobs Act of 2017, most investment-related expenses are no longer deductible. But in certain circumstances, you may still be able to get a tax break. Learn which investment-related expenses you can still deduct and how to qualify for them.
People imagine IRS auditors as scary, calculator-wielding mercenaries out to get more money. That’s usually not true and audits are rare, but an IRS audit is nonetheless stressful and time-consuming. If you ever do get audited, there are a few things you need to know to get yourself through it.
Tax form 1040 helps you conveniently collect information about your income, credits, and deductions in one place. But over the years, the IRS has added dozens of supplementary forms and schedules you can use for additional calculations. Which forms do you need?
The gig economy is big and getting bigger. According to a 2018 Gallup poll, 36% of American workers currently participate in the gig economy....