This is a great follow-up to my post last week about NOT panicking when you receive a letter from the IRS. Even in the case of overlooking some dividend income or whatnot, the interest rates are very ...
I'm often asked how to calculate the home office deduction and there is a little confusion out there about the methods for accomplishing this deduction accurately. Most of the confusion comes from the...
In an attempt to curb the obesity epidemic and create a new stream of revenue to fund health care programs, many health experts are joining the fight for "sugar tax". The New England Journal of M...
First, rip it up and burn it...then all your problems will go away. Just Kidding! Seriously, don't rip it up.... but don't panic! Most letters from the IRS are triggered by minor issues or common erro...
In an attempt to lighten the mood here in the tax lounge, I thought it would be amusing to showcase some of the more prevalent celebrity tax scandals of the past century. Special thanks to The Daily B...
Well, it's not that you'll never get it, but the average processing time is approximately 12-16 weeks according to IRS officials. The usual refund period for amended returns (1040-X) is 8-12 weeks so ...
As many of you may or may not know, the burden of proof is traditionally on the taxpayer to prove the legitimacy of a deduction they've claimed. Basically, you are guilty until proven innocent. In my ...
Adam Sandler said it best in his famous flick, Billy Madison, "Back to school, back to school; to prove to dad I'm not a fool..." Now, it's Dad's (and Mom's!) turn to be the smarty-pants; m...
Some families are glad that school is back in session and the kids are gone... and some will truly miss the fun-filled afternoons with the little buggers. Whichever camp you may fall in, here are some...