Tax Strategies

Nearly half of Americans prepare their own taxes, according to a new survey, and most of them seem to be convinced they are taking advantage of all the tax breaks available.

The Internal Revenue Service is providing transition relief to owners of individual retirement accounts and individual retirement annuities relating to the application of a one-rollover-per-year limitation of the Tax Code.

The U.S. District Court for the District of Maryland has held a pair of family estate executors liable for the unpaid taxes of the estate.

CCH is warning participants in the NCAA college hoops March Madness brackets that any of their winnings in the office pool will be subject to taxes.

Policy makers on both sides of the partisan divide, from Treasury Secretary Jacob J. Lew to Mitt Romney’s economic adviser Glenn Hubbard, favor expanding the Earned Income Tax Credit. This rare harmony holds the potential to reshape the debate on bridging the growing opportunity gap.

Charitable donations typically drop off after the surge at the end of the year, and soon after that clients can compile their list of their contributions from the previous year so they can provide this information to their accountants.

There weren’t a lot of surprises in the President’s Budget, set at $3.9 trillion for fiscal year 2015, which was released on March 4.

President Obama released his budget plan on Tuesday, with proposals for expanding a number of tax breaks along with the budget of the Internal Revenue Service.

The Internal Revenue Service is providing advice to taxpayers and tax preparers this tax season on the various tax credits and tax-related provisions under the Affordable Care Act.

President Barack Obama’s budget will propose tax cuts for low-income families, a retirement savings plan and ask Congress to make permanent certain tax breaks to offset the cost of higher education.