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The 2014 filing season is likely to be delayed one to two weeks to allow adequate time to program and test tax processing systems following the 16-day federal government closure. A final decision will be announced in December, Acting IRS Commissioner Danny Werfel...

If you are living or working outside the United States, you generally must file and pay your tax in the same way as people living in the U.S. This includes people with dual citizenship. If you're a taxpayer with foreign income, here's what you should know: 1. Report...

When it comes to creating a budget, it's essential to estimate your spending as realistically as possible. Here are three budget-related errors commonly made by small businesses, and some tips for avoiding them. Not Setting Goals. It's almost impossible to set...

There are a number of end of year tax strategies businesses can use to reduce their tax burden for 2013.   Here's the lowdown on some of the best options. Purchase New Business Equipment Section 179 Expensing. Business should take advantage of Section 179 expensing...

Tax planning presents more challenges than usual this year due to the passage of the American Taxpayer Relief Act of 2012 (ATRA), which was signed into law on January 2, 2013, as well as certain tax provisions of the Patient Protection and Affordable Care Act of 2010...

Newlyweds and the recently divorced should ensure the name on their tax return matches the name registered with the Social Security Administration (SSA). A mismatch could unexpectedly increase a tax bill or reduce the size of any refund. For recently married...

If you itemize deductions on your tax return, you may be able to deduct certain miscellaneous expenses, which might reduce your federal income tax. With that in mind, let's take a closer look at miscellaneous deductions that might benefit you this tax season....

Whether you play the lottery, roll the dice, play cards, or bet on the ponies, all your winnings are taxable. If you're a casual gambler, here are six tips on figuring gambling income and loss. 1. Gambling income includes winnings from lotteries, raffles, horse races...

Some people are surprised to learn they're due a large federal income tax refund when they file their taxes. Others are surprised that they owe more taxes than they expected. If this has happened to you, then it's time to check your federal tax withholding or...

With floods, tornadoes, hurricanes, earthquakes, and other natural disasters affecting so many people throughout the US this year, many have been left wondering how they're going to pay for the cleanup or when their businesses will be able to reopen. The good news is...