There are now 13 acceptable documents the IRS will accept as proof of identity. An original, or a certified or notarized copy, of an UNEXPIRED passport is the only document that is accepted for both… Read More »What documents are acceptable as proof of identity and foreign status?
The tax court has ruled that a tax return is not considered timely filed if it is lost by the U.S. Postal Service and it was not sent by registered or certified mail. In order… Read More »How do I make sure my tax return is received by the IRS?
What papers will I need? Here is a list of the papers that you will probably need: Certified copies of the death certificate (at least 10). You can purchase them through the funeral director or… Read More »Questions that arise when a loved one departs
One of Shakespeare’s oft-quoted lines — “Neither a borrower nor a lender be” — is sage advice, especially for many cash-strapped Americans. But perhaps you haven’t followed Shakespeare’s wise counsel. If credit card payments are… Read More »Should you pay off credit cards with a home equity loan?
You only have to examine your paycheck to realize certain income is tax-free. For example, health insurance premiums paid by your employer are generally not includible in your income. Do you know the tax status… Read More »When is income taxable, and when is it not?
Open your wallet and compare your debit and credit cards. Both probably sport a logo, an embossed account number, an expiration date and, of course, your name. Both may even come with the same nifty… Read More »Check out the pros and cons of debit cards
Although gas prices have declined in recent months, inflation isn’t dead. In fact, history suggests that over time gas prices will continue their inexorable march upward. That’s why prudent consumers should consider ways to trim… Read More »Tips for saving money on gas
Are you considering post-retirement employment? If you’re collecting social security and thinking of returning to the work force, you may have questions about the effect of that income on the taxability of your benefits. The… Read More »When are social security benefits taxed?
The Omnibus Transportation Employee Testing Act of 1991 requires drug and alcohol testing of safety-sensitive transportation employees in aviation, trucking, railroads, mass transit, pipelines, and other transportation industries. DOT publishes rules on who must conduct… Read More »Omnibus Transportation Employee Testing Act of 1991
Qualified Plug-in Electric Drive Motor Vehicles (IRC 30D) Internal Revenue Code Section 30D provides a credit for Qualified Plug-in Electric Drive Motor Vehicles including passenger vehicles and light trucks. Some low speed vehicles may qualify… Read More »Plug-In Electric Vehicle Credit (IRC 30 and IRC 30D)
Taxpayers who decide they need assistance when preparing a tax return should choose a tax preparer with care and caution. Even if a return was prepared by an outside individual or firm, taxpayers should remember… Read More »How to Choose a Tax Return Preparer and Avoid Preparer Fraud
Alternative Minimum Tax (AMT) There are several changes affecting Alternative Minimum Tax for 2009. Child-Related Tax Changes Information on adoption benefits, child’s investment income, the definition of a qualifying child, and additional child tax credit.… Read More »Tax Changes for Individuals