Tax season

The Internal Revenue Service said that it would make some credit and debit card convenience fees tax-deductible, but only under certain circumstances.

The economic crisis is forcing many states and cities to increase their sales tax rates to the highest average level ever, according to a new report.

This year, the Internal Revenue Service is offering a new way to file an extension request for free.

An early-season surge in tax filing - attributed by most observers to the declining economy - has thus far characterized this year's filing season.

Despite all the tax changes in the past year to stimulate the economy, the Internal Revenue Service appears to be weathering the tax season well so far.

Victims of severe flooding in Minnesota and North Dakota have an extra 30 days, until May 15, to file their 2008 individual tax returns and pay any taxes due.

As the tax deadline looms in two weeks, the Association of Chartered Certified Accountants has some advice for businesses and individual taxpayers.

The Internal Revenue Service has issued guidance to clarify the COBRA benefits offered under the recently passed stimulus bill.

The Internal Revenue Service has begun spreading the word about a special incentive for taxpayers to buy a new car this year: a hefty deduction next year.

The Internal Revenue Service has added three new forms for correcting errors on employment tax returns.

The Internal Revenue Service and a group of community partners plan to open their doors on Sat., March 21, to help people who need free tax preparation services, a question answered or a payment schedule arranged.

The Internal Revenue Service plans to discontinue live programming of its Tax Talk Today webcasts on May 12, leaving accountants worried about their continuing professional education credits.

President Barack Obama and Treasury Secretary Timothy Geithner unveiled a new effort aimed at unlocking the tight credit market for small businesses.

Taxpayers who do not file their return and pay their tax by the due date may have to pay a penalty. Here are seven things you should know about failure-to-file and failure-to-pay penalties, according to the Internal Revenue Service. 1. The failure-to-file penalty is generally more than the failure-to-pay penalty. So if you cannot pay all the taxes you owe, you should still file your tax return and explore other payment options in the meantime.

2008 was a tough year for investors and 2009 so far is shaping up to be more of the same. Nevertheless, investors should not lose sight of the value of capital losses for tax purposes.Capital losses can help lessen the sting of the market's decline. Just as the government shares some of your gains by taxing them, it shares some of the losses by allowing certain deductions and carryovers. This article dusts off a handful of capital loss rules that are particularly relevant in today's economy - rules that may have been forgotten over recent years.

The Internal Revenue Service reported that taxpayers are electronically filing their federal tax returns in record numbers this year.

There is an additional standard deduction for those who don’t qualify to itemize their tax deductions, but who do pay state or local real estate taxes, according to the Internal Revenue Service. This deduction is available for the 2008 and 2009 tax years.

The Internal Revenue Service said that taxpayers are filing their taxes earlier and receiving larger refunds so far this year, citing early filing season statistics.

All taxpayers dread the prospect of facing an Internal Revenue Service audit. Here is some advice from the New Jersey Society of CPAs on some steps taxpayers can take to minimize the likelihood they will be audited or ensure a more positive experience if they are:

If your mortgage debt is partly or entirely forgiven during tax years 2007 – 2012, you may be able to claim special tax relief and exclude the debt forgiveness income, said the IRS.