tax

Beware of Free Tax Preparation Scams

As tax season heats up, there are several options available for free tax filing assistance for qualified taxpayers. Unfortunately, the numbers of...

Help! My Tax Documents Are Late!

The IRS has announced that it's officially open for business for the 2010 tax season. The IRS E-file and FreeFile online options are both in full...

Tax Changes You Need to Know for 2011

With tax season 2010 already in full swing, it's easy to overlook some important tax changes for 2011. Here's some of what you can look forward to...

Energy Tax Credit Explained

Some parts of the country are still digging out from the recent nor'easter -- and winter is only a few weeks old. With heating costs soaring as the...

How to Prepare for a Tax Audit

It's no secret that the IRS is ramping up the number of audits in an attempt to close the "tax gap." That's the term the IRS is using to account for...

Tax Audit Frequently Asked Questions

For the fiscal year 2009, about 1.4 million taxpayers were chosen for audit. This represents about 1% of the 140 million tax returns filed in 2008 --...

How to Calculate Tax Credits

Taxpayers often use the terms "deduction" and "credit" as though they're the same thing. They are not. They're actually very different terms, and...

Five Most Common Tax Deductions

It's rare that the decision to itemize or take the standard deduction hinges on some of the smaller deductions that you can claim on your federal...

Itemized Tax Deductions

Each year, taxpayers have the option of claiming the standard deduction or the itemized deduction. For the tax year 2010, the standard deduction...