Tax Law

The IRS is fickle when it comes to your income tax. Sometimes, they let you reduce your taxable income, sometimes they give you tax credit to eliminate your tax liability but that's all they will...

The duty to file tax returns and pay U.S. federal income tax trips up many people every year. First-time filers need to know some of the basic filing procedures and should be prepared to handle...

Although U.S. citizens are taxed on their worldwide income, substantial tax benefits apply to U.S. taxpayers who spend all or part of the tax year overseas. The IRS foreign-earned income exclusion...

The Internal Revenue Service (IRS) standard deduction is a fixed amount that can be deducted from your adjusted gross income to arrive at your taxable income on Form 1040. You are not required to...

The Hope tax credit is a tax credit designed to assist in the cost of higher education. Pursuant to the applicable regulations, the Hope tax credit may be claimed by certain individuals for...

Filing status is one of the first questions asked on an individual tax return, and Head of Household is one of five options, along with Single, Married, Married Filing Separately and Widow(er)...

If you have suffered a tax refund offset there is a way to recover a potion of your money. The Injured Spouse Allocation tax form is the IRS publication that will keep you or your spouse from...

The Internal Revenue Service issues a lien as a means for collecting tax debts. If the debt remains unpaid after the lien is placed against the taxpayer's personal property, the IRS will seize the...

This article will help you with dealing with the IRS.

If you have moved because of a job, either because you started a new job or were relocated in your current job, you can most likely deduct all of your moving expenses from your taxes during that...

Right now, many people are running away from investments, but now may be the best time to up your investments. Contributing into a 401K or IRA, like a Roth for example, is a great way to reduce...

When rushing to finish your income tax return, keep these five areas in mind to avoid trouble with the IRS.

If you are a last-minute tax filer, you probably vow every year to do better the following year—only to find that again, you are organizing and filing your taxes at the last minute. With a little...

There's something about being asked to defend your tax deductions that strikes fear into the hearts of taxpayers. Defending deductions to the IRS doesn't have to be impossible or scary. Consider a...

If you are in the farming/agricultural business, there are tax exemptions available to you. These exemptions provide tax breaks for personal property, equipment used in farming, the upkeep of your...