Tax Responsibilities After Someone Dies The death of a loved one is always difficult but it can be even more challenging if you are the one who must handle all the resulting tax responsibilities. There are a couple different ways you can assume the required duties: You may be named as [...]
source: IRS.gov NOTE: This headliner is current through the publication date. Since changes may have occurred, no guarantees are made concerning the technical accuracy after the publication date. Headliner Volume 299 June 22, 2010 The IRS reminds taxpayers that interest deductions on home mortgages are limited, including limitations for home [...]
Source: S S A / I R S R e p o r t e r, s u m m e r 2 0 1 0, Page 6 Plug-In Electric Vehicle Credit Internal Revenue Code Sections 30 & 30D provide credits for certain Plug-in Electric Vehicles. Qualified vehicles may include [...]
Source: S S A / I R S R e p o r t e r, s u m m e r 2 0 1 0, Page 4 The Alternative Fuel Motor Vehicle Credit was enacted by the Energy P olicy Act of 2005 and includes separate credits for four [...]
Topic 431 - Canceled Debt – Is it Taxable or Not? In general, if a debt for which you are personally liable is canceled or forgiven, other than as a gift or bequest, you may have to include the canceled amount in gross income. Depending on the circumstances by which [...]
The IRS published a 30 page guide to dealing with Bankruptcy. Click the following link to view the PDF document. http://www.irs.gov/individuals/article/0,,id=96196,00.html See Page 3 - Individuals Consult an Attorney for specific Bankruptcy Advice.
WASHINGTON — As part of a larger Administration announcement on efforts to strengthen the health care workforce, the Internal Revenue Service today announced that under the Affordable Care Act health care professionals who received student loan relief under state programs that reward those who work in underserved communities may qualify [...]
If your business is a C corporation, it may be a good time to arrange for dividend payments, stock redemptions and stock sales. Though the federal income tax rate structure is currently favorable, it's scheduled to change dramatically after this year. Here are some strategies to consider before the end [...]
People who owe taxes but can’t pay the full amount owed by the April deadline should still file their return on time and pay as much as they can to avoid penalties and interest. If you can’t pay the full amount, you should contact the IRS to ask about alternative [...]
When you invest in energy-efficient products, you may be saving money on both your energy bills and your tax return. The Internal Revenue Service wants you to know about these six energy-related tax credits created or expanded by the American Recovery and Reinvestment Act of 2009. Residential Energy Property Credit [...]