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Are you taking care of an elderly parent or relative? According to the U.S. Census Bureau, there were 43.1 million people age 65 and older in the United States in 2012, nearly 15 percent of the total population. Whether it’s driving to doctor appointments, paying for nursing home care...

June 10 Employees who work for tips – If you received $20 or more in tips during February, report them to your employer. You can use Form 4070. June 16 Individuals If you are a U.S. citizen or resident alien living and working (or on military duty) outside the...

As the May 15 Filing Deadline for tax-exempt organizations filing Form 990-series information returns and notices quickly approaches, here are two important reminders for protecting personal information: First, make sure you file Form 990 if you are required to file. Filing the form is very important for many groups...

April 15 is the annual deadline for most people to file their federal income tax return and pay any taxes they owe. If, for whatever reason, you missed the deadline you may be assessed penalties for both failing to file a tax return and for failing to pay taxes...

What should you do if you already filed your federal tax return and then discover a mistake? First of all, don’t worry. In most cases all you have to do is file an amended tax return. But before you do that, here are 10 facts you should be aware...

Filing a past due return may not be as difficult as you think. Taxpayers should file all tax returns that are due, regardless of whether full payment can be made with the return. Depending on an individual’s circumstances, a taxpayer filing late may qualify for a payment plan. It...

May 10 Employees who work for tips – If you received $20 or more in tips during February, report them to your employer. You can use Form 4070. Employers – Social Security, Medicare, and withheld income tax. File Form 941 for the first quarter of 2014. This due date applies only...

There are a few tax rules that affect everyone who files a federal income tax return. This includes the rules for dependents and exemptions. These seven facts about dependents and exemptions will help you when you file your taxes this year. 1. Exemptions lower your income. There are two types...

If you’re one of the more than 3.4 million taxpayers claimed deductions for business use of a home (commonly referred to as the home office deduction), don’t forget about the new simplified option available for taxpayers starting with 2013 tax returns being filed now. The new optional deduction is...

When you file your tax return, you usually have a choice about whether to itemize deductions or take the standard deduction. Before you choose, it’s a good idea to figure your deductions using both methods and choose the one that gives you the most benefit. Typically, the one that...

The Internal Revenue Service is warning consumers about a sophisticated phone scam targeting taxpayers throughout the country. Victims are told they owe money to the IRS and it must be paid promptly through a pre-loaded debit card or wire transfer. If the victim refuses to cooperate, they are then...

Given current economic conditions, you may be faced with tax questions surrounding a job loss and unemployment issues. Here are some answers: Q: What if I received unemployment compensation in 2013? A: Unemployment compensation you received under the unemployment compensation laws of the United States or of a state are...